The Ultimate Guide to Buying Your First Home
Buying your first home is an exciting milestone, and at Jones Robinson, we are here to guide you through the process and help you find your dream home. Here's a breakdown of the essential steps involved in purchasing your first home:
Determine your budget:
Before you start your search, it's important to establish a realistic budget. Here at Jones Robinson, we can connect you with our trusted financial advisors, who will help you assess your finances to get pre-approved for a mortgage. This will ensure you have a clear understanding of your purchasing power and, when you're in a position to offer on a property, it will show the estate agent you are a serious buyer.
Research the market:
Our agents have in-depth knowledge of the local housing market. We can provide you with insights into property prices, neighbourhood trends, and any future development plans we may be aware of. This information will empower you to make informed decisions and find the best value for your investment.
Identify your needs and wants:
At Jones Robinson, we believe in understanding your unique requirements. We'll work closely with you to create a comprehensive list of must-haves and preferences for your future home. This includes factors like location, size, and layout. By prioritising your needs while considering your budget and future plans, we'll help you find a home that aligns with your lifestyle.
Start house hunting:
With your budget, preferences, and our expert guidance, it's time to start searching for your dream home! We'll provide you with access to exclusive listings before they're available anywhere else, we will schedule your viewings, and accompany you at all times. Our agents will assist you in evaluating each property, asking the right questions, and imagining yourself living in each home to ensure it meets your requirements.
Make an offer and negotiate:
When you find your perfect home, we will work with you to make a competitive offer. We will guide you on the appropriate price based on market value and assist in negotiating with the seller, as well as recommending a conveyancing solicitor. Be prepared for counter offers and keep your budget in mind throughout the negotiation process.
Finalise your mortgage application and work closely with your lender to ensure a smooth financing process. Provide all required documentation promptly and stay in touch with your financial advisors to address any potential issues that may arise.
Once your offer is accepted:
Make sure you have appointed your conveyancing solicitor and that you send all required doucmentation to them promptly. We have to conduct Anti Money Laundering checks on all buyers by law, and, once these checks are successfully completed, we'll issue a Memorandum of Sale to you, your solicitor, the sellers and their solicitor, and this starts the legal process. We will keep in touch with all parties every week and provide you with regular updates so you know exactly how your purchase is progressing.
Exchange and Completion:
Once the chain is ready to exchange, a completion date will be set with all parties, and on the day of completion the seller's solicitors will call us to give permission to release the keys, at which point we will call you to come into our office for the keys (and an accompanying house-warming gift!).
Buying your first home is an exciting journey, and by following these key steps, you'll be well-prepared to find your perfect home. Establishing a budget, researching the market, identifying your needs, finding a reliable agent, and starting your house hunt are critical steps to take. With the right guidance and knowledge, you'll be one step closer to becoming a proud homeowner!
For more details on the conveyancing processs, click HERE