Getting on the Property Ladder
Buying your first home can be a daunting experience, especially win the present climate. It is with this in mind that Philip Barrett, member of the National Association of Estate Agents (NAEA) and M.D at Velo Estates provides some handy tips:
"Before you go house shopping get a mortgage in principle agreed. Lenders are becoming more selective, so try a few lenders and see who can offer you the best deal. Once you have this you will know exactly how much you can afford to spend. This will help you be realistic about what you will get for your money and prevent any disappointments.
Once you have your budget set, speak to a good local estate agent. They will be able to discuss your expectations and advise you about what you can expect to get for your money. Try to remember that your first home may not be your dream home, you may have to climb the ladder a few times before you get there!
Do as much research into the area as possible. Online property portals will help you gain an insight into the local market. If property is out of your price range, consider an alternative area or maybe buying with a friend. Bear in mind that as a first time buyer you may be able to capitalise on the fact that you can make a quick move, as you are not attached to a chain."
