If you have decided the time is right to sell your house, you must also think about buying. Maybe you need more space, less space or just something different. Either way, you must think about the kind of property you want, the area, how many bedrooms, and your budget. Don’t rush into buying or selling a property, you should take your time and make sure you find a property suited to you that you will be happy living in for years to come. Selling your home is just the beginning of the process and can take some time, webuyanyhousescotland.com can help if you need to sell your house fast, but we have found an article with some help with buying a new home. You can read the full article here: http://www.theguardian.com/money/2014/nov/24/factsheet-buying-home-property
Factsheet: Buying a home
Buying a home can be a long and complex process, but typically it involves going through these steps:
Beginning the search
Start scanning the internet and local newspapers and register with estate agents – some properties sell before they are advertised online, so it is worth being on the agents’ books. If you see a property you want to look at, call the agent and arrange a viewing. Bear in mind there are lots of different property websites out there you can use for your search – you don’t just have to use the big ones.
Define your criteria
Decide what you are looking for in a property – whether you need parking and a garden, how many bedrooms you need, if it’s a flat, whether you want it to be freehold or leasehold – and pick an area on which to focus your search.
Consider what you want out of the location: are local schools, transport links and shops important to you? How long are you planning to live in the property for? Here are 10 things to think about before you rush into a property purchase.
Find out how much you can borrow
Call a mortgage broker to get an idea of how much you can borrow. He or she will be able to search the market for the best available deal and to help you maximise your borrowing power. You will need to give details of how much you earn and all of the things that you spend money on each month.
When working out how much you can afford to put down as a deposit, remember to keep some savings aside to meet stamp duty and other fees, and to furnish your new home. Get information about the different mortgages on offer, and start thinking about whether you want to go for a fixed or variable-rate deal.
If you are a first time buyer and are looking to buy the perfect home for you and your family, there are a lot of things to think about. It’s not as easy as picking a house and saying I’ll take it, there is a lot of paperwork, viewings and meetings. Make sure you are ready for the whole process before diving right in. Do some research on what’s involved so that you are prepared before you start looking for houses.
Cornovia provide a no fee service, meaning a quick house sale in Scotland. They have the ability to help those looking for a quick house sale the opportunity to get the best market price for their property in the shortest space of time.
So if your looking for a fast house sale, and dont want the hassle of estate agents and fees Cornovia can help with this.
Here is an article that may help a little in understanding what’s involved, read the full article here: http://www.bbc.co.uk/consumer/23623491
The home buying process for first time buyers
How do you buy a property? If you’ve never done it before the process can be daunting. Buying a home means a lot of paperwork, procedures and different people getting involved. Understanding roughly who does what and when before you start can make it less stressful.
These are the basic steps to becoming a home owner in England, Wales or Northern Ireland.
1. Do your homework
Buying a house is a massive investment and getting it just slightly wrong can be costly. Unless you have big savings, chances are you’re going to have to get a mortgage. Don’t be confused by the term, a mortgage is just a loan for buying a house.
It’s secured against the property which means if you can’t meet the repayments the lender may repossess and sell it to get their money back.The better you understand mortgages and everything to do with them, the better armed you will be to get the very best deal.
“It’s important to think about more than just whether you can afford the monthly repayments.
“You need to factor in all of your other monthly outgoings and be sure that you could still meet your payments if interest rates rise or your circumstances change.”
2. Find a mortgage
When it comes to finding a mortgage you have several options: mortgage brokers, individual banks or searching online. Again, it’s important to research all of them.
Chartered Financial Planner Nick Bamford recommends using all three to get the best deal.
“Searching online first, gives you a good idea of what’s available. An independent mortgage broker can then provide a more in-depth search and help you through the process.
“That said, it’s still worth speaking to your bank as sometimes they’ll be able to provide special deals for existing customers.”
Once you have found the best mortgage for your circumstances the lender will give you an agreement in principle.
The property world is a daunting process, especially for first time buyers. Make sure you are ready and take your time to find the perfect home for you. There can be a lot of bumps in the road before you manage to buy your home, it’s not an easy process for most people. If you already own a property you may have to sell your house first which can be hard and take a while. Take the time to read up on mortgages and home buying etc to find out what to expect.