As a First Time Buyer in Manchester, you may be stepping into the mortgage world with little to no knowledge of the process which can make it a daunting process. Luckily, it doesn’t have to be that way. It’s all about preparation which is why we have collated a list of nine questions to ask when you are house hunting.
If you have been looking at a variety of properties and there is one that you are interested in, it’s wise that you think about it before you commit, Remember, it’s very likely that this will be the biggest financial commitment in your life.
The amount of ‘thinking’ time you have before making your final decision can differ depending on the number of people who have viewed or enquired about the house. Therefore, it’s good to ask about how much interest the property has got because a property that has a large amount of interest will mean you will need to make a final decision sooner rather than later.
Another element that can have a big impact on certain parts of your mortgage process is if your property is part of a chain or not.
If the property is a new home or bereavement or emigration etc is involved, this means there will be no onward chain. In this situation, you may be able to move quickly, in particular, if you’re a part of a property chain yourself. For those who don’t need to sell their property first, then you will be in a more favourable position compared to others as you won’t be holding up the home buying process.
It’s good if you use this to your advantage when it comes to property price negotiations.
In the circumstances that you’re not buying a new build property, it can be possible that the previous owner has decided to leave some items behind, which has been a massive benefit for many. Usually, this includes white goods such as washing machines, fridges, freezers etc. or sheds that have been left behind for the next person.
This can save time and money which is brilliant news for buyers, however, if you don’t want or need these items, you will need to factor in disposing of them. For individuals who are buying a new build property, you may be offered optional extras you can buy which will be in the property on the day you move in.
Having an idea of what your neighbours are like can definitely help you if you are moving into an area you are not familiar with. For many, having a neighbour you may or may not get along with can be a make-or-break experience. Whereas the development of new homes can create a clean slate where the residents can build the community. On the flip side, this can become a risk due to the uncertainty of what the neighbourhood would be like.
With running costs, this comes down to the type of house you are looking at the location you are looking to live in. Look into different aspects including the cost of Council Tax, the average spend on utilities. You can find these out by asking the seller or researching online. Knowing this information will help you with budgeting each property accordingly.
When it comes to a homebuyer’s wishlist, many would like to live in a property with a garden that provides lots of sunshine on late summer evenings for reading books in natural light. Therefore, it can be important to some on what direction the house is facing. If you are interested in this, you may find that a property like this will come with a premium price because of the south facing garden and because you will receive the most sun throughout the day.
This can have a significant impact on your budget. With this in mind, below are some key things you need to find out to help with budgeting:
A common part of the house-buying process is starting negotiating discussion on a property. It’s key that you are fully prepared to make an offer on a property that you like. If you are wondering what you need to do for this, check out our article on How to Make an Offer article.
As well as this, it’s good to speak to the seller or estate agent to get ballpark estimates on what the seller will see as a too high or too low price for the property and see if any other offers that have been made and rejected before your offer.
Having a date set in your diary will help you plan any other jobs in advance including instructing a conveyancing solicitor, packing your belongings and organising a removal van to transport your belongings to the new property.
Last Edited: 24/11/2022