What Should You Consider When Buying Your First Property

< span                            much per month can you afford on   class="cap">There’s     a mortgage? Be exacting in         no place like home. Buying      working out your figures – you     your first home is exciting and       will need to prepare a budget of   here we look at what you need to      all your outcomes and remember to  consider in making the right          include an emergency fund. If you  decision.                             own a property there will be some  Firstly, know why you are buying      maintenance now and again and as   your first property. Perhaps it       the owner, it will be up to you    is because you want your own          to fix it. With a budget in hand   space away from parents, family       work out what purchase price you   or flat-mates – you want your         can afford. From that, look at     independence. You may want to         property above that figure by up   enjoy your own style, hobbies,        to 25%.                         your way of living and not be          Decide what you need in your    compromised into fitting in with      property. How many bedrooms do     other people. You may want your       you want? Do you need an           privacy and have control over         allocated parking space? Do you    your own living space. Know what      want to redecorate or renovate?    you want so that you know what to     Do you want a garden? How          look for.                          important is the area? Do you      Where do you want to live          want to have a room to let         exactly? Pinpoint on a map where      out?                            you need to get to on a regular        When you know what you want     basis and how long you are            then prioritise them. You may be   prepared to travel. You will then     able to buy a two bed property a   have an area to base your search      little further out of town rather  on.                                than a one bed property in town.   How much do you want to spend?     As you look at properties your     You need to be realistic. How         priorities may need adjusting.     You may be lucky to find the          difficult to say your true         property that ticks all boxes or      thoughts if the owner can hear     you may need to compromise on one     them!                           or two.                             Take your time. It is a         Begin your search by using the     buyer’s market. First time buyers  internet. There are many search       with a mortgage secured are very   engines available and from there      desirable and every seller will    you can see photos, map,              be keen to sell to you.         descriptions, prices and will          Buying your first home will be  have an idea of whether the           an achievement. Enjoy the process  property is worth viewing. It may     and reap the                       be useful and time efficient to       rewards. simply drive past properties so       d>About the                     that you can decide if you want       Authorto view them. Photos of a             id="authorbio"                     property’s interior and exterior      class="membersnoticewhite">Susy    are limiting and do not show you      Copus writes for the UK Property   the type of road or neighbouring      Search Engine, amenities.                         href="http://www.wheresmyproperty  When you arrange to view a         .com/">Wheres My Property.     property try not to arrange too       Susy also writes for many viewings on one day. It is       href="http://www.renovatealerts.c  easy to mix the properties up and     om/">Renovate Alerts who find  you need to have a fresh mind for     property to renovate and each property so that you can         href="http://www.propertymoneymak  appreciate both it’s good points      er.com/">Property Money            and bad points. Take notes on         Maker.   each property, especially if the                                     owner is present. It will be           Published At: www.isnare.com Permanent Link: http://www.isnare.com/?aid=302558&ca=Real+Estate Got a question about this article? Ask the community! Article Tags: mortgage, owner, property ...Archive >>