To uphold our commitment to providing excellent customer service, here at Belvoir Estate Agents Brighton, we’ve crafted a helpful guide for first-time buyers in Brighton. If you’re embarking on your journey to homeownership, started searching for your first house, and are uncertain about the process, feel free to reach out to our team for expert advice.
For more information, you can also check out our FAQ’s From Buyers In Brighton.
As buyers, you’ll need a deposit of at least 5% of the property prices you are considering. However, the larger the deposit, the more favourable mortgage rate you will be offered, leading to lower interest rates when applying for mortgage deals and repaying the loan. Improving your credit score before applying is a wise tip, as it can save you thousands in the long run.
When exploring a new location or neighbourhood in the city of Brighton, thoroughly research the area. Analyse average house prices, considering local amenities like schools, transport links, and crime levels. Driving through the area can provide a sense of the surroundings.
Before viewing a property, compile a list of questions, as it’s easy to get carried away on the day. This decision is likely one of the biggest in your life, so involve your partner to value both opinions. Be thorough during the viewing, paying attention to details like peeling paint that may indicate dampness, and inspect hidden areas such as the loft.
Before leaving the viewing, ask key questions about the council tax, what is included in the house, and make it known that you are first-time buyers. Creating a good relationship with the vendor can work in your favour during negotiations and may affect the purchase price.
It’s common to offer less than the asking price, so research similar properties to gauge the best offer. Consider how long the property has been on the market, as a longer duration may make the seller more open to accepting a lower offer.
Portray yourself positively, providing favourable information such as being first-time buyers, not being in a chain, having a pre-arranged mortgage, or detailing the size of your deposit if substantial.
A property survey helps assess the building’s condition and identifies potential problems. Different types of surveys are available, and our team can discuss which is most suitable for your needs. If issues arise, it allows room for negotiation with the seller to potentially secure a better house price.
Firstly, exchange contracts. Once this is completed, you are legally obliged to proceed with the purchase and required to pay the initial deposit. If you withdraw after this point, you will lose the deposit.
Then comes completion day. Your lender transfers your mortgage money to your solicitor, who then passes it on to the seller’s solicitor. Once the money is received, the keys are released, and the house is yours!
Arrange removals and assess whether it’s worthwhile to do it yourself. If downsizing, consider putting things into storage to avoid over cluttering. Redirect mail, cancel deliveries, and settle final bills. As you bid farewell to old memories, remember to turn everything off and perform one last check.
Prepare for moving day by having a few key items easily accessible for a 5-minute break. Unload boxes into relevant rooms to streamline the unpacking process in the coming days. Ensure a deep clean as you embark on this new chapter!
