Buying a house can be one of the most tiresome and stressful processes of your life. From managing finances to buying storage units and finding the right property, there is a lot to tackle. Fortunately for you, we have gathered tips to help you navigate house buying in London.
Without further ado, let’s take a look.
- Know Your Needs
First off, you can’t head right into the market without first understanding what it is that you desire from a dream home. This is the part where you will have to sit with yourself and jot down all the details and requirements you have in mind.
From the neighborhood you would like to live in to how many rooms you require, there is a lot to work on. Once all of this is cleared away, you will have a narrower list.
2. Finances
Secondly, you will have to deal with the management of your finances. Now that you know what it is that you want in your potential home, you will have a ballpark amount that would be needed. It is always smart to sort and manage your finances before you jump into the market.
This can include looking for funds or deciding upon a mortgage. It can vary from person to person depending on the financial situation. Remember to keep some money aside for emergencies.
3. Sort Your Affairs
Next up, you should start sorting your affairs at home. You must live somewhere right now, where will all your belongings go once you settle on a house? Don’t just wing this step as you might find yourself in trouble later on with tons of items and nowhere to store them.
You can opt for buying storage units or try out SSO to find appropriate storage solutions. If you are a university student looking for a new house, you can get university self-storage services. These are budget-friendly packages that fit your needs as a student.
4. Get an Agent
Now that the initial intricacies of buying a storage unit and recognizing your needs are done, the next step is to get an agent to guide you through the house buying process. The real estate industry can be quite cruel when it wants to, especially to newcomers.
A real estate agent will have years of experience under their belt and your best interest at heart. Visit their offices or carry out your research online to find the most reliable and trusted real estate agent who can get you the property you desire.
5. Browse Houses
This is the fun part of the entire process. Here, you can visit different houses that your real estate agents show to you. Browsing for houses is easy with an agent at hand. They will show you the listing that aligns with your requirements.
Make sure to properly assess each property you visit.
Moreover, some sellers might post their ads online. Do not rely on the pictures provided online. Make sure that you carry out your research and conduct on-sight visits for your satisfaction. There are tons of scammers out there, so look out for them.
Do a sufficient amount of research on each and every house including the neighborhood crime stats, the living conditions, and the schools nearby if you have children.
6. Do Not Make Impulsive/Emotional Decisions
This is one point of the house buying process that we cannot stress enough. People looking for property to buy are going through a tough time. The process can be quite demanding in terms of both finances and effort.
This doesn’t mean that you should say yes to the first opportunity that comes your way. Do not make impulsive decisions. Make sure that you think thoroughly before investing in any property.
You might have to compromise on some minor things, do not let that affect your decision. Think wisely about and refrain from making any decision emotionally.
7. Present An Offer
So, you are buying storage units and have decided upon a house, what next? Well, the next step is to start with the deal. Let your real estate agent know of the property you like and let them do the rest. This is why picking the right agent is crucial. They will be doing all the negotiations and dealings.
Talk to your agent and decide upon an offer that you wish to put forward. Make sure not to go too under the offer set by the seller or you might lose your chances of securing the deal. Ask your agent to negotiate as much as they can on your behalf to get you the best possible deal.
8. Post Acceptance
Congratulations, your offer got accepted. This is the step where all the boring yet extremely crucial details come in. A memorandum of sales will be prepared and the price upon which both the parties agreed will be noted in writing as well.
You as a buyer will also be required to send in the details of your mortgage broker if that applies to you. Post acceptance, a survey should be carried out by experts to help you analyze the value of the property one last time.
This is also where you will get the chance to sniff out any structural problems in the property. Doing this beforehand can lead to a price reduction or the owner conducting repairs themselves.
9. Completion
And there you have it. The house buying process will finally come to an end once the contracts have been exchanged by both parties.
It is time for you to finally start the shifting process as the house is officially and lawfully yours. Check out SSO for personal or university self-storage by STORED to initiate the moving process.
Before moving into your UK property, make sure that utilities such as gas, electric, and water are sorted. Moreover, get insurance as soon as possible to avoid any financial troubles later on if any damage occurs to the property.