The essential guide to buying a house when moving home in Stratford-upon-Avon, Warwickshire CV3
Buying a house is a massive process and one of the biggest purchases your likely to make in your entire life time. Buying a house will involve a lot of planning. Following our checklist and tips on the essential guide to buying a house when moving home in Stratford-upon Avon, Warwickshire, will ensure you are always one step ahead.
How much can you afford to pay and save when buying a house
When searching or planning to buy your new home, you will need to find the best mortgage that is suited to your exact needs and requirements. When using a mortgage to buy any type of property, you are binding yourself into a long-term, financial agreement, that you will have to commit to for as long as your mortgage is active.
There are many fess involved when buying a house you will need to set aside a deposit and this is before you can even start to buy your dream home. If first time buyers are signed up to the governments Help To Buy Scheme, then a deposit of 5% will be required. This is to help first time buyers who struggle to get a deposit on to the property ladder.
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Try to secure the perfect mortgage that is right for your needs, budget and requirements
Many people buying a house will need to speak to potentials lenders, these lenders may include your Banks, Building Societies or independent lenders. Your mortgage is based upon the amount of money you can afford to put down a s a deposit and how long the mortgage is for.
If your circumstances suddenly charge over the years or you have to move to another country, then you will be able to sell your home to cover the remain balance on your mortgage.
If you put a small deposit down on your property, let say under 10%, then your monthly mortgage payments will be considerably high. It is always bets to put as much of a deposit down as you can, this will make it easier for you to budget your monthly mortgage payments.
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Work out the exact fees involved when buying a house in Stratford-upon-Avon, Warwickshire
When seacrching for a new home make sure you stay one setp ahead of the fees involved. Some time times these fees can spring up on people buying a house, simply because people are unaware of the fees and wheat they involve. Below you will find some of the fees you will have to make when buying your dream home.
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[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Deposits
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Stamp Duty
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Survey Costs
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Mortgage Application Fees
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[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Building Insurance
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Content Insurance
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Solicitor Fees
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Estate Agent Fees
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How to locate the perfect home of your dreams
There are many things you will need to consider when buying your new home in Stratford-upon-Avon, Warwickshire. Some of these may include:
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[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]How many rooms, onsuit and bathrooms
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Does the property have its own private parking
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Does it have a private garden and garage
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[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Will the new property be local or far away
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]will it ready to move in or will decorating need to be done
[icon icon=”info” size=”small” style=”none” shape=”inherit” text_color=”#f48a00″]Do you want a new build or old style type of property
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Don’t be rushed when viewing your new home
When viewing your new property it is very important that you are not rushed. You will want to know as much detail as possible regarding the house, the history of the house, who lived there before and of course the area if you are not familiar with it.
Take photos of each room in the property and of any defects you have spotted during the viewing. You can pass these on to companies so they can quote you of the costs before you go ahead and buy the house of your dreams.
If possible give the poperty a full inspection, checking for leaking radiators, water marks on the ceilings, cracks in the walls, check guttering around the side of the house and again check the outside of the house for roof damage or subsidence in the building foundation.
You will of course want to check if you can add any thing to the property, like a conservatory, garage, open plan kitchen and diner, extra bedrooms etc.
These searches are vital when buying a house and understanding the level of worth that may need to be done. Many people buying a new home tent to add their personal touch to the place, by ripping out the kitchens and bathrooms and fitting new ones.
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Take time to decide the offer you would like put in to buy the property
This is something that will need to decided over a strong cuppa tea. Take a seat back for minute have a look at all the weak spots and good spots the the property has and weigh up your options. Get quotes on the major issues you have found with the property and how much it all costs. This will give you some idea of the extra costs you will occur once you have brought the property. Bear in mind the errors you have found won’t reflect the actual asking price, until you have made the owner aware of your finds.
Check to see if the owner is pushy or in a rush to sell the property. This could be a great advantage for you, giving room for negotiations and hopefully the price you find reasonable to pay.
If the property has been up for sale for a long time, the homeowner may be in a rush to sell. Many home owners may neogatate to have some of the work carried out, in order to secure a deal with you.
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The legal process your conveyancer will have to deal with
Your conveyancer is paid to deal with all the legal paper work and legal bindings regarding your move. They will need to arrange your sales and purchase agreement, exchange contract and the completion process.
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Sales and purchase agreement
When buying your property you will need to sign the sale and purchase agreement which will instruct your solictor or licenced conveyancer to go ahead with the transferring of the legal ownership of the property. Acting on your part to help with gathering all the information need to buy the property.
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Exchanging Contracts
Once you are completely happy that any concerns that you had have been addressed or resolved you can start the process of exchanging contracts. Once this is done there is no going back so it is wise to have the following in place:
Fixtures Form -A fixtures, fittings and contents form will need to be signed and submitted by your self.
Transfer Deed – It is at this stage that you will be asked to sign the legal documents transferring ownership of the property.
Building Insurance – Building insurance cover should be in place ready for the cover to start as soon as purchase the property.
Exchange – You can now exchange contracts and agree a final completion date.
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Completion
Until contracts have been exchanged, the mortgage advance has been received and all final searches are satisfactory you cannot complete. Once the money has cleared into the sellers account and deeds are received the property now belongs to you.
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If you are Moving Home in Stratford Upon Avon
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