As a First Time Buyer in Derby, stepping into the mortgage world can be an exciting experience that may come with its stresses. The good news is that it doesn’t have to be that way. Through our experience as a Mortgage Broker in Derby, we have helped many people with their mortgage journey, below is the questions we commonly get asked:
There comes a big financial commitment when you are looking to buy a property. Because of this, it’s best that you have a good think about whether or not you want to commit to buy a property.
When it comes to buying your dream home, you will only have a set amount of time to decide because of the growing interest that would potentially be in the property. Asking how many people have viewed the property you are thinking about purchasing is a wise thing to do to give you an idea of the amount of ‘thinking’ time you have.
When you are on the mortgage journey, you may find yourself in a property chain. This is where a group of sellers and buyers are linked in the buying and selling process. Certain aspects of this chain could significantly impact your mortgage process.
In the circumstance where there is no onward chain, it could make the moving process smoother. This is also the case if you aren’t a part of a chain yourself. If you don’t need to sell your property first, this could make the process quicker. This is because you will not be holding up the home buying process.
If this is the situation you are in, this can be used to your advantage and is good to mention in the negotiation process.
It can be common for previous homeowners to leave items behind as a way to save costs, which could definitely benefit you. The items they may leave include things like a washing machine, fridge, freezer and in some cases, a shed if the property has a garden.
As long as the appliance work, it can be helpful to new buyers as it saves them some cash until they get something new and modern. If you decide you don’t want the items left, it is your responsibility to dispose of the items.
With new properties, you may have the choice to purchase additional items that are brand new and ready for you on your moving day.
Neighbours can be an important factor when considering to buy a property, as for some, good or bad neighbours can really effect your home living experience. If you are moving into an area that you don’t know much about and haven’t lived in before, having friendly neighbours can help with the unfamiliarity of the area.
When it comes to moving into a new home, it can be a risk initially as you won’t have any idea of what your neighbour will be like. As much as first impressions aren’t a massive factors, it can be nice to have a good connection with them as you may find yourself living in the property for a while.
Depending on the property you buy in Derby, the running costs can differ. With this in mind, it can be best to do some research and ask the right questions. It’s good to research into topics like council tac costs or average spend on utilities which the seller will know. This can also help when you are looking at budget for each property.
Having a south-facing garden could be important to you and affect your decision process. It can be essential for people who like to relax in the garden on a late summer’s evening as well as read in natural light. It’s common for some locations to require a premium price from the buyer in order to have a south-facing garden because it’s where the sun shines for the majority of the day.
The amount of work the property will need can make a big impact on your budget. Below is some points to consider:
Negotiating a property price can be a poignant part of the home-buying process. This means that it is important to be prepared as possible to make an offer on a property that you like. Furthermore, it can be helpful to brush up on your negotiating skills and be one step ahead.
If you are wondering how low in price the seller would want to go, it’s good to chat with the seller or estate agent. You could ask them if any other offers have been made and rejected before your bid.
The first thing you need to do is set out what date you will be moving, then you can start planning the rest. Other jobs you will need to sort out is tasks like instructing a conveyancing solicitor, packing your belongings, and sorting out a removal van to transport your belongings to the new property.