Buying a house is going to be the biggest purchase of your life and making minor mistakes can cost you a lot. We have created a list of the best tips to help you in the process!
The true cost of buying
There are a lot of fees when it comes to buying a property and it is important to include these in your calculations.
Things to include are:
- Mortgage arrangement fee
- Valuation fee
- Legal fees
- Stamp duty
- Surveyors
- Modernisation and repairs
It is always advisable to get an electrician and plumber (check their reviews first!) to come around and price up any work that needs doing. As professionals, they will be able to see things that you might have missed in all the excitement of buying your new home.
The typical timeline of buying a property
- First, you are going to have to find a property. Research local areas, find the best estate agents and look online.
- Put in an offer. Once you have to find the perfect place for you, tell the seller what you are willing to pay and if you have any conditions.
- When the offer has been accepted, we recommend hiring a surveyor to check the condition of the property and if any work needs to be completed. You will also need a solicitor to check any legal bits.
- Here you will pay your deposit – you won’t be able to back out without huge costs.
- This is where you will pay the rest of the amount agreed and you will be given keys and deeds. You will now legally own the property.
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