If you are a first-time buyer, it’s important to understand the market before choosing a property to buy. It’s useful to get help from an estate agent as they can give you guidance on properties, the buying market and mortgages. Buying a house is a lifelong investment and is not something that should be rushed into; a lot of thought and consideration should go into the whole buying process.

Before entering the buying market, a sensible route to take would be to organise and sort your mortgage. Finding the right mortgage to suit you can be a lengthy process and once it’s planned, it’s out of the way so you can focus solely on your potential new property. The type of mortgage you choose to apply for will depend on your salary, your deposit and your credit rating (or amount of debt if you have any). Estate agents can offer you in-house mortgage advice or you can choose an independent adviser. If you are fortunate to be in the position of having a hefty deposit (around 20%), you will have a choice of a number of mortgages. For those with smaller deposit amounts, the mortgage choices will be slimmer but there are still options for you providing you have a constant salary and no debts. The house deposit can often be a struggle for first-time buyers but there are options available for those who struggling to save the money; some ask for help from parents or other family members.

Once you have your mortgage sorted, you can start viewing properties. There are a number ways to search for properties, if you have little time on your hands, estate agents can search for you. The internet is a convenient way to browse through properties in your spare time. When you find a property you like the look of, make sure you book your viewing as soon as possible, if it’s a popular choice, you want to get in there first to show your enthusiasm – if you like the look of it, chances are lots of others will too. Take a checklist with you when viewing a property, find out all important details so there aren’t any shocks or surprises if you choose to put an offer in. Things to consider when writing your checklist are the council tax band the property is in, the transport links, the local shops and amenities, the local schools (if you have or intend to have children), the neighbours and also the crime rates in the area.

If you decide you like a property and want to put an offer in, you’ll need to make sure you get the house surveyed, this is vital for your piece of mind. No one wants to buy a house then to discover it’s falling apart. Mortgage lenders will usually insist on getting your property surveyed, as they won’t want to lend money to someone whose house has significant damage and will need repairs.

When putting in an offer, although most like to haggle, offering the full price can push you ahead if there is competition for the house. If you can negotiate on a lower price than obviously it’s worth a bargain but if there is competition for the property, you might be gazumped (when a buyer puts in a better offer at the very last minute). Gazumping can and does happen so it might be useful to take out insurance to cover you for this. If you do get gazumped, at least you’ll be able to claim back the majority of your fees.

Ben Greenwood is writing on behalf of Shepherd Gilmour, estate agents in Manchester offering property for sale in Manchester.

Ben Greenwood is writing on behalf of Shepherd Gilmour (http://www.shepherdgilmour.com), estate agents in Manchester.

Author Bio: Ben Greenwood is writing on behalf of Shepherd Gilmour, estate agents in Manchester offering property for sale in Manchester.

Category: Real Estate
Keywords: property market, buying property, buying a house, estate agents