buyers guide

a basic guide to buying a property

property buyers guide

affordability

Before you start your search for a property, a prudent first step would be to calculate how much you're able afford to;

a) Loan (via a mortgage for example)

b) Affordability (take into account living expenses and current borrowing/debt)

People that will be able to help you here are a mortgage broker and bank or accountant for example.

property search

Now for the exciting bit 😁.

So you have your budget sorted and you know what price range you are looking at. Great online sources for research and listings are the mainstream property portals such as Rightmove.co.uk and OnTheMarket.com.

Have your affordability criteria and proof ready for the estate agents so they can be sure you are in a position to proceed should you want to place an offer.

book a property viewing
sheffield property buying guide

how to book viewings

The best way to book a viewing is to complete the form on the website that you have seen the property you are interested in. This was you can keep a record of the property viewings and enquiries by simply creating an email folder or using the favourite selections on the webpages.

You may be asked a few questions regarding your current position;

a) Do you have a property to sell?

b) Have you arranged for a loan and have proof of funds (agreement in principle)

c) If buying cash can you prove the source of funds (accountant, solicitor)

 

other considerations

Tax

Other things to consider before making an offer would be Stamp Duty Land Tax (SDLT). The rates vary according to the price of the property, how many other properties you own and current conditions set by the government.

For the most up to date information on SDLT see here; https://www.gov.uk/stamp-duty-land-tax

Leasehold or Freehold

Make sure you get these details from the agent before making an offer and look over possible implications.

Maintenance Charges

Flats and new build houses often have annual maintenance charges, so at the same time as acquiring lease or freehold details ask for these too!

All the best with your property search ❤️

 

due diligence whilst buying property