Thu 04 Feb 2016
Prepare, prepare, prepare!
Be organised, get things in order before you start your search - a mortgage, solicitor and your home. If you have a property to sell, get a valuation and put it on the market as soon as possible; this will put you in a better buying position when making an offer on a property. If in rented consider the time you have left on your tenancy.
Think about the future
Moving can be quite unsettling and stressful at times, therefore think long term. If you are a couple buying a property together, it’s a good idea to talk about whether you want children before house hunting. Also think about unforeseen changes, what if one of you has to give up work or move jobs?
The cost of moving isn’t cheap, the longer you can stay in a property the better. Look for something you can add value to - nine times out of ten it’s cheaper to build the extra square footage than to buy it.
Look beyond what you see on the Internet
Go and take a look, don’t discount property after only seeing them online. Once you have seen a certain number of houses, you should really try to focus your requirements – be clear on what it is you want, where it is going to exist and what it’s going to cost. The less houses you have to look at the easier and quicker the process should be.
Making an offer
Some asking prices are fair and some aren’t, therefore it entirely depends on what YOU perceive the value to be. Everyone wants a bit of a deal, it’s up to you to research the value and decide in your own mind what is fair, then leave a little room for negotiation in the figure you offer.
If you are going to make an offer on a property which is popular and you know there’s lots of interest, make sure you are entirely sure it’s what you want and go as high as you can afford. Going in too low with your first offer could result in you losing out on the property altogether.
Lauren Powley, Sales Negotiator at John German in Loughborough explains “If you come in too low at the beginning and another buyer offers nearer the asking price you may not get a chance to renegotiate. The seller may also end up favouring a buyer who comes in with a higher offer to start with even if you do eventually offer the asking price or above.”
Don’t take your foot off the gas
Congratulations you’ve had your offer accepted and yes this is exciting however don’t crack open the champagne just yet. At this stage, there’s still a lot of work to be done. Liaise between your mortgage company and solicitor and the estate agent, to keep everything moving.
"To Lizzie, Thank you so much for encouraging me to view a house I wasn't entirely convinced on. It was exactly what I was looking for and I am delighted that it is now mine! "