We appreciate there is a lot to consider when buying your first home, a new home or an investment property. The below tips might just help to ensure you have considered all angles towards your purchase…
Your Buying Position – first time buyers and investment buyers can move straight onto the next point, but for anyone who has a property the sale of which is related to your purchase, getting the property valued by a local professional simply must be your first step. James Donald Homes offer FREE market valuations at a time to suit you so if you need to know what the current value of your home is, just get in touch! Advice on when to list your home for sale would vary dependent on the market at the time, but in 2023 it would be good practice to get your home listed for sale before you get too deep into your search for a new home.
Budget & Financing – you would be wasting your own time looking at properties that will be financially out of reach, so if you are not fortunate enough to be a cash buyer, then this is the time to seek advice on mortgages. You can do this by going direct to your bank of course, but that way you could miss out on hundreds of better mortgage deals out there for you, which is why we would always suggest you approach an independent mortgage broker who has access to the whole of the market – ensuring you know of all the best possible mortgage deals available to you. If you do not know one, James Donald Homes can recommend an excellent independent mortgage broker.
Beginning The Search – really consider what your needs are, what elements are absolute non-negotiables and what could be compromised on. Remember that location is the one thing you cannot change without another move, so we always suggest putting that top of your list and help us to source options for you by narrowing down where you want to be. Beyond that stick to your other most important elements, e.g. a detached home / large garden, but we suggest always keeping an open mind as often we see people buying a property very little like their first description. Also consider what timescale you are hoping to work to, as there is little point getting too excited about a particular property if the timescale you are hoping to work to clearly will not work for the owners. James Donald Homes will gladly work closely with you to really get a feel for what you are wanting and if we can build a strong enough picture then we may just find you your future home!
The Viewing Stage – the best advice we can give here is be selective about what you view as we often see buyers confused having seen 20 properties on one Saturday. The marketing done by most agents now means that online if you really pay strong attention to the photography, floorplans (pay special attention to room dimensions and compare these with where you currently live) and other marketing then you should be able to narrow down those you wish to view internally considerably – your time is precious, remember! Once you do start going through doors then take your time, soak it all in and ask the agent lots of questions about the local area and of course about the house. James Donald Homes has all of our owners complete what we have called our Property Information Form, which has all sorts of useful information about the property, for example the age of the boiler, whats in the loft, how old the windows are etc.
Negotiations – at some point in your search you will hopefully find a property you want to pursue! If you are not already aware by this point then crucial information before you go further is knowing what the owners plans are: (a) is there a chain? (b) what timescales are they hoping to work to? Once you know this if you feel their situation can suit your own then it is time to consider your offer. It is very easy today to do research on what a properties realistic value may be – have similar nearby properties in the same or a neighbouring road recently been sold? How does it compare with other properties you have seen? James Donald Homes thoroughly check out all offers receive, so ensure that you have your proof of financing ready and if applicable your selling agents details so we can investigate your chain on behalf of our owners. Being organised and forthcoming with this information can have a huge impact on how the seller views you as a potential buyer.
Negotiations – at some point in your search you will hopefully find a property you want to pursue! If you are not already aware by this point then crucial information before you go further is knowing what the owners plans are: (a) is there a chain? (b) what timescales are they hoping to work to? Once you know this if you feel their situation can suit your own then it is time to consider your offer. It is very easy today to do research on what a properties realistic value may be – have similar nearby properties in the same or a neighbouring road recently been sold? How does it compare with other properties you have seen? James Donald Homes thoroughly check out all offers receive, so ensure that you have your proof of financing ready and if applicable your selling agents details so we can investigate your chain on behalf of our owners. Being organised and forthcoming with this information can have a huge impact on how the seller views you as a potential buyer.
Recommended Professionals – along the way you will definitely need a conveyancing solicitor, you will likely need a surveyor and in some cases you may even need a structural engineer. Experience tells us that an experienced, efficient and proactive solicitor is worth their weight in gold, so extend a good portion of your budget towards a conveyancing solicitor with a solid reputation – in the long run this extra cash spent will save you weeks or months of unnecessary stress and anguish constantly chasing a substandard conveyancing solicitor. There are several different levels of surveys available, all about giving you peace of mind. The level you choose will often be based on the properties current condition and age. James Donald Homes deals constantly with these professionals in our industry and can therefore gladly make recommendations of reliable options.
Exchange Of Contracts & Completion – the stage we all love! By this point at best many weeks will have gone by and you will be keen to get your hands on your new keys! James Donald Homes try to do whatever we can to alleviate the common stresses of completion day by personally collecting the keys from a vacating previous owner once they are ready to go and then when the property is empty and completion has been confirmed by the conveyancing solicitors we will gladly meet the new owners at the property to hand them their new keys personally - one of the very best parts of the job!
