First Time Home Buyer Top Tips
Becoming a First Time Home Buyer
It can be a daunting experience. Jargon, technical terms and small print can make your own independent research confusing and stressful. To lessen the stress for First Time Home Buyers we have created some Top Tips and help to buy your first home – putting you immediately at ease!
Where do you start?
Do your Home Buying Research
As a First Time Home Buyer, you need to make sure that you have done enough research to make a well informed decision. This includes finding out all the facts about the area, transport and facilities. Often the internet isn’t the answer to all of your questions, so we believe that the best place to start is to have a chat with the neighbours in that area to get a true reflection.
How much can I borrow? Mortgage calculator
Affordability is key, and understanding your scope to buy will make you feel more confident when it comes to identifying the home you wish to purchase. You will immediately feel at ease understanding your financial position in terms of purchasing a property (whether it is favourable or not). It is critical at this stage to get the right mortgage advice. We recommend dropping into Financial Foresight and having a chat with one of our in–house mortgage & protection specialists.
Additional costs
Additional costs are often overlooked by first time home buyers and this can often cause financial insecurity. Utility bills, TV license, initial furnishing costs are all bills which need considered and forecasted. To ensure you can afford all these expenses plus mortgage repayments do the calculations before securing your first home.
Explore your options
By weighing up all your options and exploring different properties, first time home buyers can truly consider the pros and cons of each and every property viewed. It is particularly important not to too narrowly focus on the “ideal kitchen, bedroom or living room”. Looking at the bigger picture will ensure all rooms are fully functioning before purchase.
Asking price
If you feel that you can lower the price on a property then you are well within your right to make an offer that is below the asking price, especially if it has been on the market a while.
However, beware that when making a lower offer, the property will still be open to potential buyers.
Financial Foresight makes finding the right mortgage less daunting by making sense of all the different home loans available to you. Whether you are a first time buyer, mortgaging, mortgage switching, remortgaging, buy to let or a home mover – then we can help you plan for a mortgage today.
Financial Foresight have access to all the latest mortgages rates and will search through the competitive market to arrange your personalised mortgage whilst providing valuable mortgage advice on the best loan repayment rates and terms to suit you individually.Mortgages Ballyclare are the leading face–to–face mortgage specialists, providing sound mortgage advice, finding you the best mortgage rates in Northern Ireland.
Get in touch today for a free, no obligation mortgage appointment.
