6 Mistakes to Avoid When You’re Buying a Home
There's a saying that buying a home is one of the most stressful things you can do. While that can be the case, it doesn't need to be if you avoid these common home buyer mistakes...
1) Not Researching the Neighbourhood
If you're moving to a new area, make sure you do your homework! Work out what your priorities are and then find out what your chosen location has to offer in terms of public transport, schools, green spaces and other amenities such as shops, gyms and restaurants.
It's also helpful to look at statistics such as crime rate.
2) Not Asking the Right Questions
When you're looking at houses there's a lot to be said for that 'gut feeling' that tells you when you've found the right one. But that isn't enough! You need to make sure that the things you can't see are right for you too.
Here's a handy checklist to give you some inspiration:
10 Questions for Home Buyers to Ask Before Making an Offer
3) Not Getting a Professional Survey
Your mortgage provider will arrange for a valuation survey of the property you intend to buy, but it's a great idea to pay for a professional survey on top of this. This will provide you with an unbiased and comprehensive report on the structural condition of the house - and may impact your decision on whether to buy.
4) Not Sticking to Your Budget
If you've fallen in love with a particular property that's above your budget, it can be easy to persuade yourself that 'you'll manage'. When it comes to making decisions about buying a home, make sure it's your head doing the talking and not your heart.
It's also worth listing out all the additional costs involved with buying a house to make sure that your budget can accommodate it all.
5) Not Checking Your Credit Score
You can't get a mortgage without a credit check so it makes sense to look at your credit history before applying in order to avoid any nasty surprises such as forgotten debts or even errors which need to be corrected.
Need help with your credit score?
Check out our blog post on 5 Secrets to Improve Your Credit Score...
6) Choosing the Wrong Mortgage
There is so much choice out there that getting a mortgage can often feel confusing. However, this is probably the biggest financial commitment you'll ever make so it's important to make the right one.
By speaking with a Mortgage Broker you can discuss your personal circumstances and they can help you to find a mortgage that best suits your needs - and your budget. They'll also have access to deals that you just can't get on the high street.
Book your free consultation!
We'd love to help you to find the best deal for your mortgage - you can book a free call with one of our friendly advisers so that we can chat to you about your specific circumstances and give you the best advice based on our years of experience.
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