Buying your first home is an exciting journey, but it can also feel overwhelming. To help you navigate this process, we’ve compiled a list of essential questions you should ask yourself. By answering these, you can gain clarity on what you want and need in a new home. Plus, we’ve created a handy checklist for you to download and tick off as you go!
Where Do You Want to Live?
Make a List of Postcodes
Think about the areas you’re interested in. Start by listing a few postcodes that appeal to you. Consider factors like:
Proximity to work or public transport
Local amenities such as shops, parks, and healthcare
Safety and overall vibe of the neighbourhood
Consider Your Longevity
How long do you envision living in this area? Is it a short-term solution, or do you plan to settle down? If schools and local communities are important to you, ensure the area aligns with your future goals.
Cost of Property
Consider the cost of properties in your chosen postcodes. Affluent areas may come with a higher price tag, so it’s important to set a realistic budget. Research average property prices and see how they fit into your financial plans.
Visit at Different Times
Make it a point to visit potential neighbourhoods at various times of the day and on weekends. This will give you a feel for the area, helping you assess noise levels, traffic, and the community atmosphere.
Planning Ahead
On average, start planning your home purchase 6 to 12 months in advance. This gives you ample time to save for a deposit, improve your credit score, and conduct thorough research.
Useful Apps
Utilise apps like Rightmove to explore property listings in your desired areas. These tools can help you stay updated on new listings and price changes.
How Much Can You Borrow?
Understanding how much you can borrow is crucial in the home-buying process. Speak to a mortgage advisor to get a better idea of your borrowing potential based on your income and deposit. This will help you set a realistic budget when searching for properties.
To make your home-buying journey easier, we’ve created a downloadable checklist for you to use. This PDF includes all the questions and considerations discussed above, allowing you to tick off each section as you progress in your journey to homeownership.
Download Your First-Time Buyers Checklist Here
If you have questions or want to discuss your circumstances in more detail, don’t hesitate to get in touch with us.
Your Home may be repossessed if you do not keep up repayments on your mortgage. Ingrid Cairns & Associates Limited is an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority. A Fee May Be Charged For Mortgage Advice. The Exact Amount Will Depend On Your Circumstances But It Will Not Exceed £495.