Poppy Buyers Guide
Whether you’re a first-time buyer or you’re looking to climb the property ladder, buying a home can be a daunting and overwhelming time. Finding a property to suit your needs may seem difficult, especially with the addition of financial worry and lots of paperwork. However, working alongside a good estate agent can help you understand the process of buying a house, and that’s where our guide comes in.
Budget
The first step in buying a property is determining a budget, as this will give you a better idea of what you can afford. You will also need to provide evidence of your monthly income and any personal expenses; mortgage lenders will want to see proof that you’ll be able to keep up with payments.
When saving a deposit, keep in mind that the higher your deposit, the lower your mortgage payments will be. Therefore, we recommend that you save 5% to 20% of the purchase price for your chosen property.
Mortgages
With so many mortgage types available, it’s important to research online to find the right one for you. Spend some time comparing mortgage providers on multiple sites, this research will pay off once you secure your mortgage.
Hidden Costs
It’s easy to forget the extra costs when buying a property, but you need to consider other costs such as: Stamp Duty, Land Registry Fee, valuation and surveyor fees, legal fees, and of course removal costs. It’s best to be prepared for all costs before you begin the buying process, as these can add up quickly.
Finding the Perfect Property
After you’ve worked out your finances, it’s time for the exciting part – looking for a new home! You’ll need to have a list in mind of the most important things you need in a property. Be cautious of extra, fancy features you don’t need, as these can add to the cost. Take your time when viewing properties and don’t be scared to ask questions, you want to make sure the property has had regular electrical and plumbing checks.
Consider the area you’d like to live in. Do you require a school nearby? Are local amenities important to you? Speaking to local property experts like our team at Poppy can help you to familiarise yourself with the area.
Making an Offer
When you’ve found your dream home, aim to make your offer as soon as you can. Your estate agent will guide you through the process and can help you negotiate with the seller if needed.
Moving in Day
Congratulations! Once you have the keys, all you need to do is ensure that your mailing address is updated on your utility accounts, then you can relax in your new home.
To start the process of house buying, get in touch with our expert Poppy team on 01482 324010 or email info@poppyresidentialonline.co.uk. We are an estate agent based in Hull, and we offer help with buying and selling in Hull, Beverley and surrounding local areas.
