Purchasing a home is one of the biggest investments you will make.
We at Inspired Homes understand that it can seem like a daunting task especially if you are buying for the first time. That is why we have compiled a First Time Buyers Guide checklist to help you on your journey to becoming a home owner!
Inspired Homes are dedicated to First Time Buyers and our friendly team will guide you through the process of searching and purchasing your new home.
The following list outline the initial steps you will need to make to purchase a home:
Choose a location you would like to live – consider transport and convenience for work as well as local amenities and the local community you will be joining.
Now the fun bit – searching for you home – there are many online portals to assist you or you can visit your local estate agents.
Make an offer – Once you have found a property you can make an offer to the seller; during this stage you can place a reservation fee (£500 – £2,000) to lock out the property to prevent others from buying while you get the rest of your finances in order.
Hire a solicitor to oversea the legal works between yourself and the seller’s solicitors.
Book a survey – when the seller accepts your offer you will need to get the property checked by a surveyor.
Mortgage application – contact a mortgage advisor to assist you in this process.
Exchanging contracts – this is when the buyer and seller exchange contracts and the sale become legally binding. The agreed deposit needs to be paid at this point.
Completion – your solicitor will instruct the mortgage company to pay the solicitor the remaining amount of the mortgage.
Moving in – the house officially belongs to you and you can make your preparations to move in.