Buying guide

Buying guide

Need a guide to buying a house? We can help. We understand that the process of buying a home is varied, with each purchase having its own characteristics and challenges to face. However, there are some simple rules that can be followed to place you in the best position to buy your new house. Use our house buying guide to help you complete your purchase.

Our guide to buying a house

It is advisable to view any property for sale that you are interested in as soon as possible, as this market is notorious for missed deals due to inactivity. Get out there and view the property, remembering to ask as many questions as possible to get a fully rounded view. Keep an eye out for whether any simple renovations or more serious work needs to be undertaken, as this may affect the valuation and price you should be paying.

Many home buyers look to run-down property with a view to renovating, due to its affordable and chain free nature. If you are considering this then it is advisable to check how long it has been on market, as this will give an indication on the amount of profit that could be made should you be looking to sell on.

Next in our guide to buying property is the viewing. Before viewing the property it is worth putting together a list of questions together beforehand so you can cover every base. Find out the reasons and motivation behind the sale of the property, as factors like desiring a quick sale will affect the valuation and negotiation process. At this point you can also find out information on the local area and any work that has been carried out on the house.

Our guide to buying property

  • Making an offer

    Don’t rule out offering the full asking price if you are buying a home. Although you may want to negotiate a deal, if the property seems to be priced correctly then offer the price requested. By putting in an offer you will show the vendor that you are not a time waster and therefore should be taken seriously. This will then reduce the chances of another buyer stepping in and outbidding you. You can also then ask the agent to mark the property as sold on their website and on their advertising boards as you go through the public notice period.
  • First-time buyers

    The current market is particularly problematic for first-time buyers looking to make their primary purchase, with a much higher deposit needed than in previous years and mortgage availability restricted. The most affordable option for first-time buyers currently would be to buy alongside a partner or friend, allowing the cost to be split. This is a big step to make however and renting together first may give you a better idea on whether you can live with the other person. It’s much easier to walk away from a tenancy agreement than a joint mortgage.
  • Chains

    Traditionally houses are sold as part of a chain, which can lead to house purchases falling through due to other people failing to complete the next link of the chain. For example one party may not have their finances to proceed with their new home purchase, which will prevent you from moving into their existing property. To help a chain move smoothly we would advise that you stay in regular contact with the estate agent and solicitor involved, ensuring that everything possible is being done to move the sale along. Our online area helps with this, as you can log-in to your personal account and make sure that each involved party is completing their necessary actions.
  • Gazumping

    Perhaps the most frustrating aspect when buying a house. Gazumping is when a rival buyer outbids you at the last minute and purchases the property. Under the Estate Agency Act agents are obliged to pass on all offers they receive but a determined buyer will probably go straight to the vendor. To avoid this consider offering the full asking price and request that the property is subsequently removed from the market. It is also beneficial to be flexible with the vendor and work to their desired timescales. If you are cooperative and obliging to the vendor, establishing a relationship with them, then it will be harder for them to let you down.

Our guide to buying a house is just a starting point. For more information on how to buy your next house call us or take a look at our unique home moving guide. We've broken down the journey into six easy to follow steps. Click here to take a look at the guide.