So the time has come for you to buy your first house, hooray! But since it’s your first, you have no idea where to begin, right? Well you’re certainly not alone. Buying a house can be daunting at first but with the right solicitors on your side, they can guide you through the process. Here we’ll take you through some simple steps to buying your first home so that you can get an understanding of what goes on!
Once you’ve done the hard part and saved for your deposit, you can then apply for a mortgage agreement in principle (AIP) and settle on a budget that you can afford. A mortgage agreement in principle is confirmation from a lender stating what they would, in principle, be willing to lend you. Especially in this current climate, this is a ‘must-have’ when buying your first house as it lets the seller know that you can progress the sale. Speak to our experts at AmicusLaw before doing this so that we can guide you from there.
Once the money side of things is decided, the fun stuff starts, and you can speak to an estate agent and start looking for your new home! Now’s the time to research the area you’d like to live in and start viewing houses but remember to check the future plans for the area too. You can often find this in the planning section on the local council website. This process can be exciting but it’s important to keep 4 questions in mind when considering where you want to base yourself:
- What is the surrounding area like? Is it likely to change over the next few years?
- What is the local nightlife like? Do you want a busy or quiet environment?
- How long would your commute to work be?
- How good are local schools in the area?
And while these things may not individually be relevant to you now, they’re important to consider. Once you’ve considered these questions and found your dream home, you can officially apply for a mortgage and your solicitor will start the conveyancing process – the hard part is done!
You’ll need a conveyancing solicitor to deal with the transfer of ownership of the property. This includes carrying out searches, dealing with relevant documents and contracts while also being your first port of call if you have any concerns or queries. Your solicitor will carry out searches with relevant local authorities before the exchange of contracts to provide you with more information about the property you are buying. These searches often include local, drainage and environmental searches to give you details about the planning history of the property revealing whether the building is listed or in a conservation area. If everything runs smoothly, your contracts will be exchanged, a completion date will be set and you’ll have bought your first home!
At AmicusLaw, we are aware that buying your first home can often be scary, so we’ll be here to guide you. We skip the legal jargon and keep it simple so that you don’t have to worry about not understanding what we’re going on about – because we’re on your side!