Step by Step Guides Buying

Looking to get on the property ladder? Broaden your portfolio? This guide covers all the aspects involved in a property purchase, helping you whether you’re a first-time buyer or have some experience in the property market.

Sections:

1. Where to begin
2. Property Hunt
3. Viewing
4. Conveyancing
5. Offer and Application
6. Survey
7. Mortgage Agreed
8. Searches
9. Exchange
10. Insurance
11. Complete
12. Moving

2. Property Hunt

A house is probably one of the biggest financial decisions you'll make, so should be treated with care. You're likely to lose money if you change your mind in the middle of the process, so make sure you consider all of the factors that might affect your choice. These factors fall into two categories:

1. External: You should look if you are comfortable in the neighbourhood in which your house is located. It might be a good idea to see which areas you'd want to live in before you start the actual house-hunting process. Drive around the area and do some research. In this section, you should think about:

• Do you see yourself living comfortably within the neighbourhood?
• Is it convenient for you to live there? Think about your routine (work, studies, children, etc.) and check the area for transport links and commute length, local amenities, shops, schools, and so on.
• Will you feel safe living in the neighbourhood? Check with the local police about crime rates in the area.
• Can you find a parking spot?
• Always look at the neighbouring buildings and make sure they are well kept, as this might devalue your potential property in the near future.

2. Internal: By now you probably have a good idea about what you're looking for. You should also think about:

• New or old? Both have advantages and disadvantages, so think about maintenance and service costs.
• Terraced, semi-detached, detached house? Purpose-built or a conversion flat? Again, think about your comfort and consider which one suits you best.
• Are you thinking about home improvements or redecorating?
• Leasehold or freehold?

Where to look?
There are two ways of looking at the property hunt:

1. Contact estate agents and let them know about your requirements as a buyer. They will match this to any current offerings they might have and let you know about them. Depending on the estate agent, they may also advertise your requirements for any potential seller to fulfil.
2. You can DIY. Browse around the area you like for advertised properties, or through the newspaper and the Internet. You will find that some homeowners prefer to handle the selling themselves.

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• Secured homeowner loans from Picture

  Borrow between £10,000 and £100,000 from a lender who understands you. Competitive rates, simple online application.

  http://www.pictureit.co.uk