One of the most important steps in life is securing a mortgage on a first home. Typically, this is the result of years of saving funds, securing a suitably paid job, and sensible financial planning. It can be a truly monumental event to get the keys to your first property and start to make each space in your new home unique to your tastes and preferences. If you are in the fortunate position of being able to afford a new home, this article will be of assistance. Some top tips will be explored that will help you take the stress out of buying a new home.
Learn about the housing market
It is a fact that housing prices can fluctuate over time. At present, an average home in the UK now costs around £291,000 after years of sustained growth in house prices. However, industry experts are predicting a fall in the housing market, partly due to the cost of living crisis and rising inflation rates, which can make it harder for many people to afford a new home. It is vitally important to thoroughly research the housing market before you decide to buy a new home. Consider that a stagnated or falling housing market can result in lower prices when buying a new property but may also make it harder to sell your current home. In addition, it is important to recognise the effect that location has on property prices. A highly desirable area may command higher prices for properties when compared to less sought-after locations. However, if you can purchase a property that is in an area that is being improved or gentrified when prices are low, this may allow you to benefit from rising property values over time and can be an ideal investment opportunity.
Research removal firms early on
Many people leave planning their removal day to the end of the property purchasing process. However, this is not recommended as removal firms can be extremely busy at certain times of the year or on specific days and may not have the capacity to undertake the work if you book at the last minute. Once you begin searching for a new home, research the market for removal firms. Look for reputable companies such as Shiply that have extensive experience in helping homeowners move house. Consult customer review sites such as Trustpilot when making a shortlist of removal firms to gain information on how their services were viewed by previous customers. Ideally, you will want to choose a removal firm that has a competitive price and outstanding customer reviews. Book their services early to ensure that your needs can be accommodated on the day of the move.
As a brief final point, it is vital to understand how to negotiate effectively when buying a new home. Many people feel uncomfortable about making counter offers on a listed house price, but it is important to understand that the seller will expect negotiations. Remember that even a 5% reduction in the asking price can save you thousands of pounds, which can be used to fund home improvements or buy new household items. If your offer is not accepted, the seller may be prepared to submit their counteroffer, which can still save you money.