Whether buying your first home, moving up the property ladder, or buying an investment, purchasing a property is a significant undertaking. Here are the main steps you should take to ensure a successful property purchase.
First things first, you must look at your finances to ensure that you can afford to purchase a property. Some of the main considerations include:
You’ll also need to decide the type of mortgage you want. It’s a good idea to speak to a mortgage advisor/broker too.
Buying a property can be one of the most personal, exciting, yet daunting choices a person can make. There are many factors that come into consideration when looking to buy property, but one of the most important factors to consider is location. You want to make sure that the location you select meets all your requirements; if you have a family you may want to consider relocating to an area that is near schools or if you work in the centre of town, a property that has easy access to several transport links. It’s important to thoroughly research the area that you wish to live in, to gain an understanding of what properties typically sell for and how much you’re likely to spend.
The internet is where most people conduct their research, particularly in the early stages. You should use the big property portals like Rightmove, Zoopla and Prime Location as well as looking through our property portfolio.
Take your time when viewing a property, particularly one you think you might like to buy. You should even view it on more than one occasion. Also, check if it’s freehold or leasehold as well as the length of the current lease.
If you’re interested in buying a property in Swindon, Forefront Property can help.
Once you’ve found a property for sale you like, it’s time to arrange a viewing. One of our qualified sales managers will organise and attend a property viewing with you.
Once you’ve found a property that meets all your needs, costs and expectations, it’s time to make an offer. Once you tell our team that you’re ready to make an offer, we will discuss it with the vendor.
When making an offer it’s important to think about how much you’re willing to spend as the size of offer you make will depend on the situation. For example, making an offer that’s too low on a popular property might mean you'll miss out.
If the seller is happy with your offer, they will accept it, at this point we will need the details of both your solicitor and the seller of the property. A sales memorandum will be written and sent to you and the vendor along with both of your solicitors.
If you don’t already have one, you’ll need a solicitor or conveyancer. They will handle the legal and financial aspects of the purchase, including transferring the payment to the seller’s solicitor and the ownership of the property to you. Your solicitor will also conduct searches on the property to make sure there are no issues.
In addition, you can get a full survey of the property to give you a complete check. This is additional to your lender's survey and will cost extra.
The next stage is exchanging the contracts and paying your deposit. This is where you become legally obliged to buy the property (and the seller becomes legally obliged to sell it). Therefore, make sure you agree with everything with the seller before this happens. Examples include the completion date and any additional costs for the fixtures and fittings.
Other things you should know include:
A property is a significant purchase, but with careful research and proper planning, the process can go smoothly. If you would like to know more about how we can help you find and buy your ideal property, get in touch. Our estate agents in Swindon have been helping buyers successfully and efficiently buy their dream homes for the past 10 years.
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Swindon: 0333 242 7573
Email: enquiries@forefrontproperty.co.uk
Visit us by appointment:
Forefront Property Limited, Basepoint Business Centre, Rivermead Drive, Swindon, SN5
7EX
Visit us by appointment:
Forefront Property
Limited, Basepoint Business Centre, Rivermead
Drive, Swindon, SN5 7EX