Tips For Toddington First-Time Buyers

News at Household | 25/10/2019

Buying your first home is an exciting prospect, but it is also a daunting task. There is no shortage of information for first-time buyers to consider, and this often adds to the sense of being overwhelmed, which many first-time buyers feel.

At Household, we are pleased to say we have helped many local buyers make their way on to the property ladder. If you are a first-time buyer in Teddington, we have tips that will make you feel more confident about buying your first home.

Start saving money as soon as you can

This tip should go without saying, but if you want to make the process of buying your first home easier, you should save as much money as you can. Therefore, starting the saving process as soon as you can make sense.

You will need to make some sacrifices, and in the short-term, you may not enjoy life as much as you would like, or as much as your friends are. However, if you are committed to buying a home, focusing in on this goal will motivate you, and it will help you achieve your goals.

You should also try to save smarter as well as saving harder. Many first-time buyers have benefitted from the Help To Buy ISA scheme, but the conditions around this scheme are changing soon.

If you haven’t opened a Help To Buy ISA, you must do so before the 30th of November 2019. This is the closing date for new savers, and after this date, you will not be able to open an account. Existing savers can use the Help To Buy ISA scheme after this date.

Therefore, if you are considering buying your first home in the next few years, it is worthwhile opening up an ISA before the end of November. Doing so provides you with the chance to enhance your savings, hopefully speeding up the process of funding your deposit.

Determine your budget and speak with a mortgage adviser

Buying a home is often about taking the process step-by-step, and you need to have certain things in place before you can move on to the next stage. It is vital you determine your budget, knowing what sort of deposit you can place on a property, and how much money you can afford to pay each month. You should also take into account the associated costs of buying a home.

Once you know what your finances are, or you realise you need assistance in determining your finances, speak with an expert. It will be helpful to meet with a mortgage adviser, as expert advice will help you make informed decisions.

Know what you are looking for

Once you have a budget in place, and you have a rough idea of what you are looking for, it makes sense to detail what you need from a home. What you need and what you like are different things, so be clear on the essential items, and use these aspects as the basis for your property search.

Prepare your paperwork

You’ll have to provide a lot of paperwork when you buy a home, and any delay in providing paperwork slows down the buying process. Therefore, make sure you have everything you need and create copies of relevant documents. If you can speed up the process, you’ll feel more comfortable so be prepared to share ID, utility bills, bank statements and any other requested document.

Work with a professional estate agent

If you want the best advice and guidance, work with a skilled and experienced local estate agent. At Household Estate Agents, we are pleased to say we have helped many property buyers in and around Luton, Dunstable and Toddington, so contact us today.