Whether you still live with your parents or you’re ready to move out of your rental home, buying your first home can seem like a daunting prospect. Between trying to find a house that you know you’re going to be happy in and working out what you can afford, the whole process can seem a bit overwhelming – so, to make things a little easier here are some tips for buying your first home.
What Can You Afford?
Although spending hours on Rightmove dreaming about the homes you’d love to own, it’s going to get pretty disappointing when you have to remove them off of the list when you work out your finances. The best thing you can do is work out your affordability first, as this gives you a firm idea of what you can afford to buy – including what mortgage you’re likely to be accepted for. It is important to have the correct expectations when it comes to buying your first home; because the chances are that it won’t be your forever home; instead just a solid first step on the property ladder. A mortgage calculator also lets you edit your income etc so you can work out what you might be able to afford if your circumstances were to change. Having an estimate of your mortgage affordability based on your income means that when you are looking on Rightmove and speaking to estate agents about your needs, they’re going to be able to come back with properties within your price range
.Choosing a Home
Once you get to the stage where you have a solid idea of what you’ll be able to afford, the exciting part starts! Get registered on Rightmove, Zoopla and with your local estate agents so they can lt you know when suitable properties come to the market. As well as affordability, you should consider what else you want from a home. Although you might not be able to find one that ticks all of the boxes, having an idea of what features are essential gives you a starting point. For example, how many bedrooms do you need? Do you need a garden? Is a bus stop nearby essential?
Making The Move
Once you have chosen a house and worked to have your offer accepted, you need to start thinking about getting moving day organised. The best thing you can do is be as organised s possible – make a list, speak to utility companies really early and of course, if you need a moving company then speak to these way in advance to see their prices and availability. Then you can start getting everything packed up; ready to move into your very first home and start your new adventure!
If you have any tips for buying your first home we’d love you to share them below.