A helping hand for first time buyers

To make things easier for you, it’s always a great idea to get your finances and documentation in order. This means that when you find the right property, you’re ready for the next step. It’s also great practice to utilise your contacts. If you know anyone who has recently been through the process, like a family member or friend, it may be useful to speak with them as they may have the answers to some of your concerns. Additionally, never hesitate to ask agents questions. That is what we’re here for and we’re always happy to share our knowledge.

It is vital to always be proactive when searching for a property. You may have a good idea of what you are looking for, however, you can often surprise yourself. I would advise that you view as many properties as you can. As you’ve never bought your own property, you may be looking for one with little work, however, never rule out a project! This could be a great opportunity to add value to a property and can set you up for the future. Similarly, you may see potential in a property that other people have not spotted and consequently it has less demand and competition. On a more personal level, buying a property that needs work allows you to make it your own. When you weigh up the costs, you can determine if it is manageable for you.

When it comes to your property search, start by thinking about your lifestyle and what areas you would like to live in. Once you have seen some suitable properties, book in viewings as soon as possible. You may want to bring someone along who you trust as they could point out important things to you. You should always prepare for a viewing beforehand and have a list of questions you would like to ask the agent. For example;

- Why are the current owners selling?

- How long have they lived in the property?

- Timescales for the move

- Who are the neighbours?

- When was the heating system installed and last serviced?

- Is the property Freehold or Leasehold?

- Does the property have any service or maintenance charges?

- What is the council tax band of the property?

Not only is it a benefit for you to know more about a property, it is also helpful to get to know a bit more about the seller's plans. This may help you sell yourself as a buyer if you would like to offer on their property.

As a first time buyer, you are in a great position, therefore never be afraid to negotiate and inform the agent of why the seller should choose you for their sale. Tell the agent the reasons why their property would be your dream home. This information may resonate with the seller and mean they take you more seriously as a buyer.

When it comes to offering, start with an offer that you consider reasonable. If your offer is rejected, make gradual increases until the negotiator asks for your best and final. The negotiator will always keep you updated, however, try not to take too much time between offers as it may lead the agent or seller to assume you are not fully committed.

We all know that buying a property comes with stresses, concerns and a little apprehension. it's important to have a thick skin and try to be level headed throughout the process. Don't be disheartened if you miss out on a property as sometimes this may happen. Be patient, the right property is out there!

Happy hunting!

Eva Bitcliffe,
Client Contact Director

01323 440678 | eva.bitcliffe@craneandco.co.uk