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Hunters Estate Agents in Hythe

Hunters Hythe Buyers’ Guide

The long-term financial commitment that comes with buying your own property in Hythe is not something that should be taken lightly. There are many things to consider concerning your budget, and many more concerning choosing the right mortgage and negotiating the best deals.

This buyers’ guide from Hunters Hythe Estate Agents has been put together to help steer you through everything that you will need to get organised before, during and after your property search.

Property Prices in Hythe

Currently, the average value given on all properties in Hythe over the past 12 months stands at £316,999 (up 5.42%)

By category, the average values of houses in Hythe break down as follows:

Detached

£444,419 (up 2.49%)

Semi-detached

£280,121 (up 2.74%)

Terraced

£234,806 (up 2.34%)

Flats

£217,596 (up 5.61%)

Understanding Your Budget

There will be an upper limit to what you can afford, and determining what this is will help you gain a clearer understanding as to what properties are within your reach in the Hythe area.

When working out your budget, you need to take into consideration all of your outgoings and pit the total figure against your income What’s left will be available to you to spend on a mortgage – but you must also consider the fact that it would be economically unwise to commit this full amount, which would thusly leave you with no leeway to cope financially with any unforeseen circumstances further down the line.

Think about how much you spend on your car insurance, your fuel and car-running costs, your phone contract, your home broadband, your utilities bills, your council tax, your food, your clothing and your water rates.

To help, we highly recommend you make use of a budget calculator, as this will aid you in garnering an accurate figure as to what you have to spend on a mortgage.

Choosing A Mortgage

In addition to your budgetary requirements, you also need to take into consideration how much capital you have to put down on the full price of a house. If you can’t put down at least 10%, then you will be subject to Higher Lending Fees, which essentially means that your mortgage will cost you more over time.

The best mortgages are typically made available to those who can get 15% of the property price together to put down themselves as a deposit.

Either way, it’s essential that you secure a mortgage before you start your property hunt, as this will put you in a better negotiating position should you want to make an offer on a house – if you can’t make a serious off to a seller, then you will be giving the upper hand immediately to a competing hunter who is more organised and ready to buy.

What Do You Need From A Property?

Any old thing just won’t do when it comes to buying a house – especially if it’s one that you plan to live in yourself. There will be certain requirements that you will have, especially in terms of how many bedrooms you will need, or if you require an office space.

Here at Hunters Hythe, we want to find the right property at the right price for you. So, consider the following:

  • The number of bedrooms you will require

  • The number of bathrooms

  • Whether you want a separate kitchen and dining room

  • If you need parking

  • Whether you want a garden and/or a conservatory

  • Your budget for redecorating

Negotiating The Best Deal

Playing situations to your advantage will give you the best chance of securing the best deal when the time comes to put in an offer. If the buyer is in a rush to sell, then they will be far more likely to accept a lower offer. Also, if you are not caught up in a chain, then you will find yourself in a good position, as you will represent fewer complications to the seller.

Be very aware of your budget at all times. If you start to get your heart set on a property that’s out of your price range and the seller won’t budge, then you need to be longsighted – will committing to the higher price mean that you will have to make other sacrifices, and, if so, how detrimental will that be to your life and lifestyle?

estate agents in hythe
estate agents in hythe

Contact us

Hunters Hythe
156a High Street,
Hythe,
Kent,
CT21 5JU
Sales: 01303 261557
Email: [email protected]

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