{"id":5075,"date":"2023-07-17T09:17:59","date_gmt":"2023-07-17T08:17:59","guid":{"rendered":"https:\/\/www.craneandco.co.uk\/pages\/?p=5075"},"modified":"2023-07-17T09:17:59","modified_gmt":"2023-07-17T08:17:59","slug":"a-quick-guide-to-buying-your-first-property","status":"publish","type":"post","link":"https:\/\/www.craneandco.co.uk\/pages\/a-quick-guide-to-buying-your-first-property\/","title":{"rendered":"A Quick Guide to Buying Your First Property"},"content":{"rendered":"

If you\u2019re thinking about buying your first home, congratulations! You\u2019re about to experience a huge life moment and finally have somewhere to call your own. The first-time buyer journey is exciting, scary, overwhelming\u2026 it\u2019s basically all the emotions. So, what can you expect?<\/span><\/h3>\n

In this quick read, we take you through some of the initial steps of buying your first home.<\/p>\n

Money matters<\/span> <\/strong><\/h3>\n

Whether you\u2019ve built up savings or you\u2019re borrowing from the Bank of Mum and Dad, the first thing that needs attention is a mortgage in principle. This is how you find out what you can afford per month and how much you can borrow.<\/p>\n

Unfortunately, a mortgage is just one cost \u2013 there are lots of others you need to account for, including:<\/p>\n

    \n
  • Stamp duty<\/li>\n
  • Valuation costs<\/li>\n
  • Survey fees<\/li>\n
  • Legal fees<\/li>\n
  • Insurance<\/li>\n
  • Costs of moving\/decorating<\/li>\n<\/ul>\n

    Top tip:<\/strong> Use a mortgage broker. They\u2019ll help you understand the financial commitment, organise the documents you\u2019ll need, find a suitable deal and apply on your behalf.<\/p>\n

    Property search<\/strong><\/span><\/h3>\n

    Once you know how much you can afford, you can start your search. Whilst looking online is useful, there\u2019s nothing as valuable as sitting down with an estate agent and discussing exactly what you\u2019re looking for and what you want to pay. Agents have a huge amount of knowledge about the local market and buying process, so make sure you take advantage of it.<\/p>\n

    Legals <\/strong><\/span><\/h3>\n

    As a first-time buyer, it\u2019s important to work with a team of professionals who you can rely on and who can explain things to you. You\u2019ll need a conveyancer or property solicitor to carry out searches and get the deal done.<\/p>\n

    Top tip:<\/strong> Try to use a solicitor that has been recommended rather than finding your own.<\/p>\n

    Property surveys<\/span> <\/strong><\/h3>\n

    There are two types of survey you should be aware of: a valuation survey and a homebuyer\u2019s survey \u2013 which one you need is largely dependent on your lender. For example, if you\u2019re buying a new property, the lender may be happy with a valuation survey. A homebuyer\u2019s survey may be needed if you buy an older property that requires work.<\/p>\n

    Once a satisfactory survey has been carried out, the lender will (hopefully) approve your mortgage offer.<\/p>\n

    Next steps<\/span> <\/strong><\/h3>\n

    As the excitement builds, so too will the workload\/admin of buying a new property. Be prepared to answer questions from the seller\u2019s solicitor or your lender about your timescales, how quickly you can move to exchange and so on.<\/p>\n

    While this article gives you a quick overview of the steps involved in buying your first property, it\u2019s not a detailed guide. There may be bumps in the road, but it will be worth it once that completion date arrives.<\/p>\n

    If you\u2019re planning to buy your first property, get in touch with our team at Crane & Co\u00a0today.\u00a0 <\/strong><\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"

    If you\u2019re thinking about buying your first home, congratulations! You\u2019re about to experience a huge life moment and finally have somewhere to call your own. The first-time buyer journey is exciting, scary, overwhelming\u2026 it\u2019s basically all the emotions. So, what can you expect? In this quick read, we take you through some of the initial […]<\/p>\n","protected":false},"author":3,"featured_media":5076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[1,3],"tags":[8,23,25],"class_list":["post-5075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-moving-home-advice-and-guidance","category-personal-advice-from-our-team","tag-advice","tag-first-time-buyer","tag-jerry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/5075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/comments?post=5075"}],"version-history":[{"count":2,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/5075\/revisions"}],"predecessor-version":[{"id":5078,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/5075\/revisions\/5078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media\/5076"}],"wp:attachment":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media?parent=5075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/categories?post=5075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/tags?post=5075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}