There are few things more exciting than moving house. From making plans to redecorate, to becoming a part of a new community, it can be fun whilst offering an opportunity to make significant changes to your life.
Whilst there is no getting away from the time the whole process can take, being armed with the right knowledge can not only make things run smoother, it can also save you money along the way.
Finding the Right Property
This is an important place to start and it’s not just about the type and location of the property itself. If you have children you may want to consider how convenient it is for school and if there are straightforward transport links. You will have an idea of rooms and whether it’s important to have a garden or a garage.
However, with the budget you have, it may be that you have to make the odd sacrifice, so taking the time to prioritise may make things easier when it comes to choosing the right property for you.
It’s then a good idea to register with a reputable estate agent. That way, should a property come up for sale that fits your criteria, the estate agent can help arrange a viewing. Think about the agent’s position when you do; are they independent and can they offer impartial advice when it comes to lenders and other professionals? Find out if the agent is part of a nationwide concern that has affiliations with banks and mortgage providers.
Do your Homework
Assuming that you have found a property that you love and you’re considering an offer, the next step is to find out as much information as possible. How long the house has been on the market is a good place to start; if it has been up for sale for a long time, it may be that there is more room for negotiation on the asking price.
If the house has only been listed recently, you should also consider whether it is worth starting low and negotiating, or going in at the asking price. While you don’t want to pay any more than you have to, there’s nothing to be gained from losing out on your dream property if it is up for sale for a fair price because someone else nipped in first.
If you make an offer and it’s accepted it’s time to sit back and let the solicitors do their job. The solicitor will take care of all of the legal aspects, such as exchanging contracts and making sure everything is above board.
Assuming you’re taking out a mortgage, your lender will arrange to have a surveyor check the property to ensure it is in the same condition as is advertised and that it’s worth the money being loaned. If there’s anything you are unsure about when you see the surveyor’s report, you should take immediate advice. It may be that you will have to drop the purchase, or even renegotiate the price. However, if all is well, then it’s time to complete.
To allow time to dot the I’s and cross the T’s the completion date will often be set about a month in advance. As soon as the date arrives, all you have to do is pick up the keys to your new home, and get the removal van in.
Happy house hunting!