Buying your first home is one of the most exciting, yet often daunting moments in your life. We all dream of the moment you’ve picked up the keys, closed the door and can finally start to enjoy your first home. However before that moment comes, first time buyers need to make sure that dream doesn’t turn into a nightmare.
Often estate agents, solicitors, mortgage brokers and banks are all given a bad press, in reality they are normally the friendly professionals that are there to help guide and advise on what to do and when to do it. Most people, especially first time buyers are unsure of what to expect, one of the main reasons for negative experiences comes from a lack of communication. Contact them and ask them questions as often as you feel you need, after all if they aren’t approachable, friendly or helpful, maybe it’s time to choose someone else.
Making a list of all the costs you may incur is a great way to ensure you don’t over stretch yourself. Solicitor’s fees, valuation fees and stamp duty are all potential costs that you may need to pay upfront. However, make sure to include all potential costs such as curtains, curtain poles and even crockery and cutlery, all these other expenses can soon add up, and the last thing you want is a large credit card bill for the things you didn’t account for.
Gary Wright, Partner of Mortgage Advice Network