oving into a brand new financial comfort zone. So work
property can be one of the out how much you can comfortably
most fantastic experiences afford (remembering there may be
you'll have climbing the property interest rate rises in the future
ladder. You get a home that that could affect your monthly
no-one else has lived in before, mortgage payments) and stick to
that often has been tweaked to it. A good budget will help you
your requirements, and is shiny identify suitable new builds
and new when you move in! quickly.
Here's a powerful 7 step guide to
3) Work out what you need from
help you find a property that's your home
perfect for your needs.
If you have four kids and two
1) Pick the right location
cars, there's no point buying a
There are certainly plenty of house with two bedrooms and one
new builds around at the moment. parking space. So make a list of
The rate of building new property exactly what you need. It can be
seems to be increasing each year. useful to split your list between
When you know where you want to "must haves" and "would be nice
live, have a drive around to look to haves".
for new developments and make a
4) Get your mortgage
note of the estate agent that's sorted
marketing them. It's sometimes
Based on your budget and list
worth chatting to locals at the of requirements, you should have
shops or pub, as they may know a clear idea of how much you need
about any hidden away to borrow. Talk to a mortgage
developments or future plans that broker or independent financial
you haven't found.
advisor, and also your existing
2) Set a clear budget
mortgage company if you already
There's no point looking at own a house. Often they will lend
new property outside of your you extra money for a new home
without a great deal of hassle or mean they won't be open to a
paperwork. You should aim to get deal. It's a lot less risk for a
your finances sorted out and your developer to build new property
mortgage pre-approved before that has already been sold, so
starting the process of buying use this as a bargaining tool.
new property – this should speed Some developers will also buy
things up. your old house to remove the
5) Look at the properties you chain and ensure you move in
like
quickly. You may not get the best
Make a shortlist and visit price for your property this way,
each one. Depending on the stage but it's a speedy way of doing
of build there may not be much to things. For more info see: see. But it's still worth looking href="http://www.propertytoday.co
– on big developments there are .uk/7-steps-to-buy-a-new-property
often show homes. If you do buy .11018.3754811.story"
new property before it's built, title="http://www.propertytoday.c
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6) Pick a property and do a y.co.uk/7-steps-to-buy-a-new-prop
deal
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calculated carefully by
7) Do the legal stuff
developers. They will have looked
Now that you have your home,
at the labour and materials cost you need a licensed conveyancer
of building the homes, plus the or a solicitor to sort out the
land, and the profit they want to details of the purchase for you.
make from it. But this doesn't It's likely your mortgage company
will also ask for a valuation
survey to be done. It's unlikely google_ad_width = 728;
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About the Author:
For more information on how to buy a new property please visit the Property Today website.
Article Tags: house, mortgage, property
