30/11/2021
Fun facts for FIRST TIME BUYERS!!!💡💡💡
Key things you need to know when looking for your first property.
1. Know your finances - While it can be intimidating to get to know your finances, there’s no way that you’ll be able to proceed unless you’re in the know about your money situation.Get to grips with your monthly in-goings and outgoings. From this, you can work out a realistic savings goal and go on to work out your deposit. You’ll also need to have a good credit score: paying monthly bills on time and registering to vote can improve your rating.
2. Do your research - You’ll have to be organised and do your research. Luckily, if you’re excited about the prospect of owning your own home, a lot of this might be fun to do. Discover which areas you’d like to look for property in, find out the average cost in your area, and start to keep an eye on the market — even before you get your deposit together. This will give you a head start when it comes to looking for a property, as you’ll already know your budget, your dream location, and how quickly the market moves.
3. Begin to save - This can be one of the most difficult things to do, especially if you’re already renting. Banking apps like Monzo or Plum are designed to help you meet your savings goals, but if you don’t already have one, look to set up a Lifetime ISA (known as a LISA). These are high-interest savings accounts that are designed for people who are saving for their first home or retirement.
4. View some places - This is the fun part! But when you’re viewing the home of your dreams, be sure to keep a poker face to have greater negotiating power further down the line. If you’re still interested after the first viewing, arrange another at a different time of day.
Could this help you move in to your first home?
For more help and advice, get in touch with me using the contacts below:
📧 [email protected]
📞 01823 444 022
📱 07852 223 545
