Buying a property is not something which everyone wants to do, and there are many countries around the world where renting is much more common. For me however it was always about finding the way to buy a property and I was able to achieve that dream back in 2019. This was a far more different experience than I anticipated and I have to thank the team at Accelerate Mortgage, who were excellent in helping me to get through that experience, and the purchase of the property.
Given the experience which I had, I wanted to share with you some things to consider before you purchase your own property.
Even if you plan to take on a mortgage for the property, you still have to bear in mind just how expensive the buying of a property really is. To begin with you have solicitors fees and searches to pay for, this won’t come from the mortgage money. Secondly you have to equip the place with furniture and decorations. Even if you are moving from one property to another and you still have things to take with you, there are the moving costs involved with this as well. Don’t underestimate how much this will all cost, be sure to save your money ahead of the move.
As much as we would all like to find a new place, sign on the dotted line and then move in, this sadly is not the way that things always go. If you are buying a new build then this will be much easier, but even then there can be set backs and delays in getting the property ready for you. If however you are looking to buy from someone then you have to recognize the important of the chain.
Many times people have to wait because the owners of the property they are buying have been let down by the people they are buying from. You may even find that someone else has low balled your offer and you lose the property which you thought you were going to buy. There are all kinds of complications which could take place which is why you must have patience until you have those keys in your hands.
Even if you have found a property which you think will be perfect for you, it is essential that you consider the big picture when deciding. This means thinking about the area in which you are going to live, considering the community around the property, crime rates, school quality and the proximity to amenities. All of these are key factors to pay attention to regarding what life will be like in the new place. It is about far more than just living inside a property, your life will be spent in and around the place and the local area, which is why all of this is so important.
Take your time, plan well and find the perfect choice for you.