We have been living in the same house for four years now and every now and then we consider buying a house that would suit the needs of a family of four. Last year we extended our rent contract for two years so we will be definitely here for another year but in the meantime we are keeping an eye on the properties in our area.
Obviously taking out a mortgage whether it be for your first home, a new home or for your existing home can be a big decision. I have heard from friends that it is an overwhelming and stressful period. Therefore the more knowledgeable you are, the more time and money you can save.
A couple of my close friends recently bought a house. So there has been a lot of chat around this very subject. A couple of things I have learnt from our chats is:
- Finding out how much you can afford is the most important thing. It may seem obvious but I have heard a lot that many people end up losing a property as they cannot borrow as much as they think they can
- Check out the mortgages types. If you are not sure about the option that is best for you, check out the Santander mortgages.
- The photos you seen on the ads may not always reflect the reality. Make sure you visit and see a property for yourself before making any decisions whether it is positive or negative.
- Meet the neighbours and have little chat about what it is like to live on this road.
- View as many properties as possible. You will want to buy your dream house but at times it is better to buy a house that needs a little renovation.
- Try not to rush. Even if you get very excited, it is always good to calm down and have a good think if this is what you want. Even so, play it cool when you are making an offer.
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