Getting to know the property market is essential if you are thinking about buying or selling a property, especially if you are a first-time buyer. You should find reputable estate agents to help you with all of the ins and outs of the property market, mortgages and any other additional financial and legal requirements, of which there are lots! Buying a house is a huge financial commitment and a lot of consideration and research should go into the process. It may seem difficult to get your head around the buying market, but with all of the right help, the buying of a property is a rewarding experience.

Before entering the buying market and looking at houses, a sensible option would be to sort your mortgage so you know exactly what you are entitled to. Sorting out a mortgage can be a time-consuming and sometimes frustrating process, there is a lot of paperwork, but once it’s out of the way you can focus on searching for a new property (the fun part). The type of mortgage you are entitled depends on a whole host of factors, the main ones include your salary, your deposit and your previous credit history. Estate agents can offer you advice on mortgages or you can go seek help from an independent adviser. Those who are lucky to have larger deposit will have more options when it comes to their monthly mortgage repayments but those a smaller deposit do have options as long as you have a constant salary and no large debts.

Once the mortgage is sorted, you can move on to viewing houses. By now, you’ll probably be in touch with estate agents who can guide you on good areas, and you’ll have probably done your own research too. When viewing properties it’s important to take notes and take photographs, if there any problems with the property be sure to note them down and speak to your estate agent. The popularity of the property you are looking at will depend on the offer you choose to put in, if you like the look of it, chances are others will too, and you can usually find out how many others are viewing. If you are buying a house for £150,000 put in an offer for £140,000 – with the market as it is, you have the opportunity to haggle and you don’t want to overpay on a property (houses are expensive enough as it is!). Be aware of gazumping, this when someone puts in a higher offer at the last minute, you want your offer to hold, so although it’s good to bargain, be realistic too.

Your lender will want you to get your house surveyed, but you’ll want to do this for your own piece of mind too. No one wants to invest in a house and then discover it’s falling apart a few years later. It’s advised to fork out on a more expensive survey (£400-1000) so you are aware of everything, it may be expensive but forking out at a later date will cost you a lot more.

Clair O\’Hara is writing on behalf of Shepherd Gilmour, estate agents who specialise in Northern Quarter property.

Clair O\’Hara is writing on behalf of Shepherd Gilmour (http://www.shepherdgilmour.com), estate agents who specialise in Northern Quarter property.

Author Bio: Clair O\’Hara is writing on behalf of Shepherd Gilmour, estate agents who specialise in Northern Quarter property.

Category: Advice
Keywords: estate agents, estate agent Manchester, Northern Quarter property, letting agents