The Quick Guide to Buying a House
Buying a new house can be one of the most important, and expensive, undertakings in anyone's life. Luckily for you, there are many steps you can take to reduce financial cost and emotional stress during this difficult, yet exciting, time!
1) Look for a bargain
If your need to move is not urgent and you're willing to put some work in, or you have the spare cash to pay someone to do the work for you, then are literally thousands of dilapidated or just unused houses around the UK that are put up for sale at auction every week. If you go down this route, you can own a house that might otherwise be well out of your price range - as long as you're willing to make it up yourself. Buying a house at auction can be a potential minefield though, so take care to thoroughly research every property before you buy as some houses may only need a fresh lick of paint to make them habitable, where others are literally falling apart. Sometimes some amazing properties can come up at auction though, so why not get looking?
Whether you found your house at auction or through the regular channels there are three important rules to think about before you jump in head first: plan, plan and plan! Assess your finances and carefully think how much you can afford to budget for your new house. Then add a thousand or so onto that for miscellaneous costs during the moving process, such as agent's fees, repairs, breakages and moving costs. Don't forget to budget for the deposit and if you're taking out mortgage, as most people will need to, make sure to speak to your bank early on in the process so they have time to assess your application and you're not left stranded with no cash to pay for your house at a later date. The more thoroughly you plan your actions out at this early stage, the less chance you'll receive a nasty surprise during a crucial stage of the purchase; and trust me, they can happen!
Before you buy any house, it's always a good idea to get at least a homebuyer's report on the state of the property. This might be seem extortionate if it turns out nothing is wrong with the house, but can you put a price on your own peace of mind? Imagine if, two weeks after moving in, you had to replace a whole wall of the house because of damp or any other common problem with houses - having a homebuyer's report can let you know the likelihood of this happening, before you purchase.
Don't place a bid as soon as you decide you want to buy a particular house - speak to the estate agent, and the owner if possible, to gauge the seller's timeframe, interest in the house and the likelihood of the price being negotiable. Don't bid too low as the buyer may find it insulting and you might get out-bid but don't always go straight for the asking price either, it's always worth trying to haggle especially if you have time on your side and the seller does not.
Written on behalf of Wandsworth Waste Removal Company - if you need to remove a small amount of clutter or if you want to clear the entire basement.