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First Time Buyers’ Checklist While Evaluating The Property

First Time Buyers’ Checklist While Evaluating The Property

First time buyers’ checklist can be pretty overwhelming. You will have to consult a bank, find about possible mortgage plans, figure our your budget, choose the neighbourhoo(s) you would like to start your search with, and so on and so forth. No doubt, all of those aspects are very important, but what is really of the essence is coming to conclusion about one or another property you see. So, when it comes to evaluating property, there are several important questions that should be on the first time buyers’ checklist:How high are the utilities? Quite often, utilities are included into the rent, so you might have never thought of them before. Yet, as a new homeowner, you will have to pay monthly electricity, gas, water, and other bills. The sum will vary from property to property, so make sure your first utility bill will not come at a surprise. How safe is the neighbourhood? You might have done some research on the subject already, yet it wouldn’t hurt talking to neighbours to make sure everything is in order. Quite often, it is impossible to find out this info online, so talking to people who actually live in the area is your only option. Are there...

Top Things To Know When Buying A House

Top Things To Know When Buying A House

Things to know when buying a house are numerous. The success of this undertaking depends on the set of different circumstances. The most important things are weighing over your budget, defining the best mortgage plan, objectively evaluating the property in question, and obtaining financing. Each of these stages has a set of nuances you need to know.Weighing over your budget You have to be very careful weighing over your budget, because you will have to pay plenty of different fees. If you think that your savings should cover the first deposit only, you are wrong. To top it up, there can be mortgage fees, which can be as high as £2000 (this is not always the case, but you still have to consider that in your calculations). Next, if you find a house you like, you will have to hire a solicitor to prepare all the paperwork for you. Typical solicitor fees vary between £500-£1500. Still, there is more. You will probably want to have a proper evaluation of the property in question (also not necessary, but highly advisable - after all, a house is a huge investment and one has to be sure that its value will not diminish in the...

Buying A House Process Explained

Buying A House Process Explained

Buying a house requires not only money, but also time, patience, and a bit of effort. The whole process can be a bit confusing for the first time buyers; however, once you wrap you head around it, you will see that it is not a brain surgery. So, to help you a bit with your property search, here is buying a house process – explained in detail.Pre-approval for the loan You probably already have some savings in your bank account. However, before you start searching for a perfect house, you should determine how much more money you can borrow. This will mostly depend on your family income - both on the amount and on its stability. So, you have to talk to your bank representative to make sure that you can be pre-approved for the loan. He / she will also give you more detailed information about the mortgage plans you can be eligible for.  As soon as you figure out your budget, you can start looking for houses that meet your budget expectations. Making an offer Of course, it is the seller, not the buyer who determines the price on a particular property. So, making an offer means that you find a...