Top Tips for Buyers

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1. Our number one tip is to carry out as much research as possible - it really can make all the difference.  A really clear understanding of what you are looking for and what you will and will not compromise on will help immeasurably.  It is worth thinking carefully about the following basic questions before focusing your property search.  Although these questions seem obvious, many people do not give due consideration to them and often end up opting for an area or property that is less than ideal for their needs.

- How much can you afford?  Being realistic about how much you can afford is a key ingredient of getting a mortgage with minimal difficulty.  See the Which? on-line mortgage calculator to find out.

- Where would you like to live?  List out the reasons why you want to live in a particular area and check to see that these needs are not served as well or better by another area.

- What type of property would you like to live in?  The type of property you can afford to live in will depend to a large degree upon the area.  So, is your desired type of property affordable for you in your chosen area?  What other types of property are there that could meet your needs?

- Do you need to sell your current home before you move?  Some people choose to keep their current property and remortgage to get funds to put down on their next home. If you want to do this, are you able to get sufficient equity out of your current property, and is there adequate rental demand for you to rent it and cover your mortgage (after remortgaging)?  If you do need to sell your current home before moving, then what time frames are you aiming to have sold in, and how much do you need to get for your home in order to get the property you want next?

 - What are your key must haves?  We recommend listing these under logical headings such as Property, Schools, Transport, Healthcare, Sports & Recreation and Employment opportunities.

Why not also take a look at our useful links to help you with your research.


2. What have other similar properties in the road sold for? See our house value indicator section to find out.  This will give you an appreciation of whether the price that is being asked for by the seller is realistic for the type of house and area. 

3. Try to keep an open mind when viewing a property and don’t be put off by the seller’s personal taste.  Try to imagine what it would be like with your own furnishings.  Always try and envisage what you could do to make the property the best it can be - could you knock through a wall and double the size of the kitchen? Or is the garden big enough to allow you to consider adding an extension?  Think laterally.

4. What is the situation in the property market?  Property prices rise and fall - but the overall trend in any complete cycle is always upwards.  That is to say that in the long run, the value of your property should always increase.  Does the prevailing market conditions create any special difficulties for you, or indeed any special opportunities?
 
5. Get your finances in order.  Even once you are confident you can get the relevant mortgage and that you have the finances to put down as a deposit, consider the other transaction costs of buying, such as solicitor's fees, stamp duty, hiring a removal company and even whether you need to buy a car (for example if you are moving from a city where you did not need a car, to a rural location where you do).

6.  Don’t go to view a property alone, take a friend or relative – a second pair of eyes is helpful in seeing things you perhaps would not!

7.  View the property and area at different times to get a feel for how busy it gets, whether there is adequate street lighting at night and so on.

8.  Enjoy doing all the above!  Buying a property is an exciting adventure - it will provide a great deal of satisfaction and comfort once you have bought the right property in the right street for the right price!