When it comes to buying a house for the first time, the process can be one that’s exciting yet a little nerve-racking as you’ve never done it before. However, with the right knowledge under your belt, you’ll be able to find the home that you’re after as a first-time buyer. If you don’t have any experience of the house buying process or if you are still doing your research, read on for more information.
Make Sure You’re Financially Ready
Firstly, it’s important to make sure that you’re financially ready and able to purchase a property. This means looking at your finances in terms of your income, as well as having the necessary deposit and spending money for furnishing your home. This can amount to a considerable amount of money, so it’s critical to ensure that you’ve thought long and hard about whether now is the right time.
If you don’t feel as though you have enough savings yet, then it’s definitely worth waiting so that you allow yourself time to get into a more financially stable position. Make the effort to save and continue saving until you’re ready to buy. Saving your money is something you should be doing throughout your lifetime, regardless.
Work Out What You Want & Need In A Property
There are plenty of properties available in NI that will suit your budget, but it’s good to start thinking about what you want and need when it comes to a property. Everyone has different preferences and needs, so it’s useful to list off what you want and perhaps what your partner wants if you’re buying your first property with someone else.
Think about what it is you would need to have in your home and what might be optional. Some of the things that are optional might not make the cut when you’re choosing a house, but as long as you’re ticking off all your ‘need-to-haves’, that is all that matters.
Make An Offer & Arrange Your Mortgage
Once you’ve started viewing homes, there will come a point where you’ll want to make an offer. Once you’ve made an offer and it has been accepted, you’ll then need to sort out the mortgage if that’s something you’re financing the home with. Some people are fortunate to be able to buy their property outright, but that’s not the case for everyone. If you will need a mortgage, it is at this point of the house buying process that you should be in talks with relevant mortgage providers, and hopefully, you’ll be able to secure a mortgage to help speed up your buying process.
Hire A Solicitor Or Conveyancer
During the process, it’s important to hire a solicitor or conveyancer who will be responsible for the legal aspects of the property sale. Conveyancing is the transfer of the legal title of a property from one person to another. They’ll be needed to help you smoothly transition the purchasing process. The quicker this is processed, the faster you’ll be getting the keys to your new home.
H McPartland & Sons Solicitors have over 65 years of experience. Our professional conveyancing solicitors will work to complete an easy transition to your new home and will:
- Check right of way and boundary issues.
- Check planning permission and building control issues.
- Draw up contracts.
- Organise your stamp duty.
- Communicate with your estate agent.
- Redeem existing mortgages and register new mortgages.