Top 10 Essential Factors to Consider While Buying Your First Home in the UK

Understand your Budget

Understanding your budget is the first and most crucial step. It’s essential to know how much you can afford and what your mortgage options are before you start looking at potential homes to make the home-buying journey seamless and stress-free.

Save for Deposit and Extra Cost

Saving for a home does not stop at gathering enough for the purchase price. There are additional costs such as Stamp Duty, solicitor fees, survey cost, removal costs, and other costs associated with moving in that you should also account for.

Select the Right Mortgage

Mortgage selection is as crucial as the home you’re going to purchase. Seek advice from an impartial, reputable mortgage advisor and understand the many mortgage products available.

Research Location

When you’re buying a home, you’re not just buying bricks – you’re also buying a lifestyle. Research on crime rates, traffic, schools, and even the neighbourhood’s vibe before making your decision.

Check the Property’s Condition

A home survey is an essential aspect of home buying – a surveyor can identify structural problems like damp and subsidence before you take the plunge. At Flettons, we offer professional and thorough building surveys.

Understand your Contract

Your contract contains important details about the property. Always review the fine print or let a property lawyer interpret it so you can fully understand your liability should anything go awry in the future.

Think about Growth

Consider the property’s potential for growth. Could you extend or alter the property in the future?

Get an Energy Performance Certificate (EPC)

Before purchasing, check EPC for details about how to heat and insulate the house and what are potential costs.

Insurance

Protect your home and contents with a suitable insurance policy. Each policy is different so make sure you understand what’s covered.

Insist on a Detailed Inventory

If you’re buying a home with additional components like furniture, ask for a detailed inventory. This will help you avoid any disagreements in the future.

It’s not easy navigating the world of property buying, especially with ever-changing property laws and standards. But when you understand these top 10 factors, you’ll be in a much stronger position when you finally make that investment.

At Flettons, we’re committed to safeguarding your investment. When considering a property purchase, trust our seasoned expertise to reveal any hidden threats. For a thorough building survey, get your instant quote through our quote calculator or reach out directly at 0203 691 0451. Your home’s safety is our top priority.