When buying a home it's essential to take your time and not to rush your purchase. It's OK to fall in love with a property, but make sure you do your research and make an offer based on your head's decision-making abilities - not your heart's!
1. Check your finances first so you know how much you can afford to spend.
2. Do write a needs and wants list so you visit properties that are right for you.
3. Make sure the property that you want – at the price you can afford – is available!
4. Search for property everywhere you can from on-line property portals, to local newspapers, auctions and private sellers.
5. Take the time to read the Home Information Pack and ask for the Property Information and Fixtures and Fittings Forms information to be included before you make an offer.
6. Always visit properties at different times of the day and regularly test journeys you will make.
7. Don't skimp on legal services – make sure you use a legal company that offers a 'no sale, no fee' and 'fixed fee' service.
8. Make an offer based on sold property price research – not asking prices of other properties.
9. Agree an estimated exchange and completion date when you make an offer.
10. Ensure that you track your purchase carefully and have money ready at the right time.
For all first time buyers, if you think you cannot afford to buy your first home, then think again! There are properties out there and the finance - you just need to know where to look, and don't let the media headlines put you off buying your first dream home!
A new scheme called FirstBuy has been announced by the Homes & Community Agency to help first time buyers get on the property ladder.
According to a recent post from HouseBuilder, one way to increase the number of 95% mortgages for buyers would be to go back to a mortgage indemnity guarantee scheme which "supports buyers looking to borrow 95% mortgages" .
15 local authorities and Lloyds TSB launch a fund to top up the deposits of local first-time buyers to allow them to buy a home for as little as 5%.