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What to Consider as a First Time Buyer

June 30, 2020 4:19 pm

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Although the prospect of buying your very first property is an exciting one, it can also seem quite scary and overwhelming. After all, there is a reason why moving house is one of the most stressful life events. Once you have saved up a deposit and secured a mortgage, the really hard bit is done – you can begin the property hunt!

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As a first time buyer you are an incredibly attractive prospect to the vendor, as you will be able to move much quicker than people trying to sell a house – this is what is meant by being chain free, and is one of the reasons this is highlighted on some properties, because it is seen as a positive. So do keep in mind that you are in a strong position when negotiating price.

It is also important to remember that there are additional costs, as well as the property – you will need a solicitor to deal with the legal side such as these conveyancing solicitors Cheltenham https://www.deeandgriffin.co.uk/ as well as stamp duty. It is also worth remembering that you may need to pay to have work done to the property to update it or to repair anything that may be past it’s best! Particularly if you are buying an older property or one that has been empty for a while.

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A lot of first time buyers often prefer to purchase a new build as you can receive assistance from the Government help to buy scheme, as well as the fact that you can have a ‘clean slate’ with no work needing to be done to the property at all.

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