THERE are few things more exciting in life than getting the keys to your very first home.
In the UK, we’re still a nation of homeowners and the dream of getting your hands on a place to call your own is very much alive for many young people.
While taking that first step on the property ladder can undoubtedly be tricky – particularly in the current climate – first-time buyers can often emerge in a stronger position than most, making them an attractive proposition to many vendors.
Preparation and local knowledge is often key, and at Belvoir Corby, we’re perfectly placed to help you make your first move with confidence.
Do your homework
Before even starting your search, it makes sense to have a clear budget in mind – and stick to it.
With interest rates on the rise, it’s important to factor in additional increases to ensure your finances stay on track.
To make buying a home even more affordable, many young people are now choosing to buy with friends or with support from family. In many cases, you’ll need to be prepared to pay a 10% deposit, so saving is critical.
Once you’re clear on your finances the fun part can begin!
Put together a list of things you’re looking for – whether that’s the number of bedrooms, office space or off-road parking – and then start researching what’s available in your area.
You can learn a great deal from the Belvoir Corby website, in particular from our Market Insights page, which sets out the very latest trends, including average house prices to give you a clearer idea of what to do when you make that all-important offer.
Secure a mortgage
It is very rare that first-time buyers are cash buyers, so it is important that you understand the mortgage options available to you, what paperwork you need to start the process and what costs might be involved.
Usually this depends on your income and financial situation. We have an inhouse mortgage and protection adviser, Savannah, who is based in our George Street office. Savannah is part of mortgage broker LionHart and can offer expert advice to anyone who needs help.
Make your move with confidence
With the latest statistics showing that house prices have dropped slightly, it’s the ideal time for first time buyers to make their move.
With no chain, first-time buyers can find themselves in a strong position to negotiate and secure their dream home.
If it’s local knowledge you need, the team at Belvoir Corby is here to support you throughout the process, turning your dream of becoming a homeowner into a reality.
To find out more about the range of services available and the ways in which we can help, get in touch today by calling our friendly team of experts based at our George Street office on 01536 261666.
