You’ve saved your social life away for the last few months or even years and the time has come, you’re finally ready to make the big commitment of buying your very own home. Overwhelmed with excitement to finally flee the nest, or if you’re lucky, out of that rental property, and the mortgage meetings have given you the all clear. Now comes the fun bit, time to choose your very first property.
The process of finding the right fit has been compared by The Law House to that of finding your other half, with the viewing process likened to dating. Each first house viewing brings the hope that this could be the one.
For some, like a first date, your first impressions may be disjointed. You’re distracted by the fresh paint job, big open spaces, the clean and stylish finishing touches. But a few viewings later, the once fresh appealing house you fell for, is showing signs that it might not be all it’s cracked up to be.
The biggest purchase you are likely to make should take some consideration, however it is estimated that on average people spend just 25 minutes viewing a property before purchasing. It has been researched that an average of 10 seconds is all the time it takes for house hunters to decide if they like a property from the outside, with 35% of seekers revealing they won’t enter a property if they aren’t happy with the exterior.
With 26% of property owners stating they viewed their current homes just once before buying, it’s important to ensure you do the research beforehand, not leaving out important questions like; When was the boiler fitted? And how old is the wiring?
When you’ve found the property for you, it is highly beneficial to pay for a comprehensive property survey to establish whether any repairs are required. You should also arrange a property solicitor to handle the legal work to ensure the process runs smoothly, from exchanging contracts to completion.
Although buying your first property can be a lengthy and stressful process, you’ve worked hard for this moment so make sure you enjoy it!