Fri 23 Dec 2016
With 2017 around the corner you may be considering buying a new home. Whether it’s a first time buy or you’re moving up, or down, the property ladder you will have to make many decisions along the way and here’s our step-by-step buying guide to help you through the process – from start to finish.
Is buying a home a good idea?
•Although the majority of people want to buy their own home it may not be the right decision at this moment in time. Consider the advantages and disadvantages of taking on your own property.
Do I need to sell first?
If you are already a homeowner there are a few options…
- Sell your property first and move into rented to give you an advantage when buying – no chain
- Sell and buy at the same time
- Let your property out and keep it as an investment
If you have any questions on the above our experienced staff can give advice on both selling and letting. Get in touch with your local John German team.
How much does it cost to move house?
It is really important to budget for a move before you start looking (you don’t want to be disappointed!) Remember there is more than just a mortgage to consider….stamp duty, legal fees and removal costs as well as potentially keeping money aside to carry out some redecoration work.
Decide where you want to live
•If you are moving locally then you will already know the area and this should make the process of picking where you wish to live fairly simple. If you have children you might still want to check out local schools.
•If you are considering relocating, read our top tips to help ease the stress; you don’t want to make the wrong decision and be unhappy or face the cost of moving again in the near future.
Start searching for a property
You’ve got your finances in place, you’ve potentially got your current home on the market/sold/let so you are ready to begin your search.
Follow our simple steps to a successful property search.
What to do once you've had an offer accepted on a house
•Let your mortgage provider or financial advisor know that you’ve had an offer accepted.
•Instruct a solicitor – if you don’t know any local solicitors, it is a good idea to get a recommendation from your Estate Agent; they are likely to have relationships with all the good ones in the area.
•Do you need a survey? – Although your mortgage lender will carry out a valuation to ensure the property is ok to lend against it is advisable to have a more in-depth survey. Read our clear and impartial guide to property surveys and also the risks of buying a property without a survey.
•Ensure your deposit is in place – your solicitor should advise you on this further.
•Get removals quotes if you need them but don’t book anything until you’ve got dates for completion.
Exchange and Completion
•Once you’ve exchanged contracts you are legally committed to buying the property and if you pull-out at this point you could forfeit your deposit money.
•At this point you will have agreed your completion date and you need to have buildings insurance in place for your new home.
•Finalise your removals and get your moving checklist ready.
•Completion – CONGRATULATIONS you are the proud owner of your new home.
If you're thinking of moving in 2017 we would love to help you. Our vastly experienced teams offer their support from start to finish whether you are buying, selling or letting.
Contact us now for any property related advice.
"I would highly recommend John German Lichfield who dealt with my simultaneous sale and purchase very efficiently. The team are very helpful and friendly and nothing was too much trouble. They held my hand all the way through what was a very stressful time and reassured me when needed. The whole process from putting house up for sale to actually moving in to dream home was less than 3 months in total. Cannot rate highly enough!"