Thinking about buying your first home? Here's all you need to know!
Taking that first step on the property ladder can seem daunting. There are so many things to think about, like mortgages and deposits, but also the exciting bits like searching for your first or next home.
Want to know the secret to avoiding the headaches?
So where do you start? Look for a home or work out what you can afford? It's fun to start searching for your dream home right away but you need to be realistic and have a rough idea about what you can afford. That way you can narrow down the essentials and get to the heart of what you want.
First of all take a look at our handy downloadable guides, they'll tell you all you need to know about the Help to Buy Equity Loan and Shared Ownership Schemes. You might be surprised which scheme appeals so keep an open mind as you read, we've been busy busting some myths about Shared Ownership recently so why not read these on our news page.
Once you're done you'll have a better understanding of how the schemes work and might even know which one you want to use. You'll also have a good understanding of what deposit requirements each scheme has, the Help to Buy Equity Loan requires a minimum 5% of the full property value while Shared Ownership requires a minimum of 5% based on the price of the share you buy.
Next you'll probably start to think about deposits and mortgages. Whether or not you've started saving a deposit you should give our free budget planner a go, it can show you where you might be able to make some little savings here and there to top up your deposit.
We know mortgages might seem like a scary grown up mine field so don't go in blind. We have a panel of recommended Independent Financial Advisors (IFA's) who know their stuff. They can search the market for the best mortgage deals and give you an idea of what you can afford to raise in a mortgage as well as the deposit you might need. You can book a free no obligation appointment with one of our IFA's, to find one near you just click the link below
Even if you've not started saving yet it's never too early to keep an eye on what homes are out there. Have a think about what you need from a home, do you need parking? A garage? Would you like a garden or would you prefer a terrace or balcony because you hate mowing grass? All of these things are important when looking for a home; after all it's a big decision and it'll probably be the biggest purchase you make in your life. Devour all the information you can, check out floorplans, EPCs, even the local takeaway. Make sure you've satisfied your curiosity.
Don't forget to keep an eye on the new and upcoming homes advertised on our website. If your register with us you can save property searches, register your interest in homes and receive info about upcoming events we hold throughout the year.
By registering you'll also get access to our applicant e-newsletter My Perfect Place, featuring stunning properties that are for sale, customer success stories and articles about what's happening near you.
Keep an eye open for the dates of our jam-packed Help to Buy shows too, these are held across the south in spring and autumn, they are free to attend and you can gain free legal advice, speak to housebuilders and even get a free financial assessment from a member of our IFA panel.
Stay tuned for next time where we'll give you all you need to know about the next steps from packing and moving to who you need to notify about your change of address, you'll know exactly what needs doing!