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Top Tips For First Time Buyers

29 June 2020 Category: News

For those looking to buy their first property, the journey ahead may seem quite challenging but also very exciting. Here are some tips which may help you along the way:

Start saving: If you save money into a Help to Buy ISA, then the Government can boost your savings by 25%. So, for every £200 you will receive a Government bonus of £50. The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy ISA before you can claim your bonus. The maximum government bonus you can receive is £3,000 – to receive that, you need to have saved £12,000.

https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

Appoint a Solicitor: We have five experienced residential conveyancers based across our Dunbar, North Berwick and Haddington offices - all of whom are able to offer advice on your first house purchase.

Keep an open mind: Do not be put off by dated décor, coloured bathroom suites and old-fashioned kitchens. These can be upgraded when you have the finances and a properties appearance can be vastly improved with a lick of paint.

Think, Location, Location, Location: Do some careful research into your preferred areas. Is the property accessible by public transport? Are there many properties for sale in the vicinity? If so, do they sell quickly? Are there shops, local amenities and parks nearby? In the future you will be selling the property, so aim to purchase something that will appeal to a wide range of buyers.

Register with the ESPC for property alerts. Here, at Paris Steele, we offer a mailing list for buyers. Please do not hesitate to contact one of our branches to be added to this, allowing you to be kept informed of new properties as they come onto the market.

Finally, view as many properties as you can, as you may find something that will surprise you.

If you would like more information regarding anything mentioned above, or if you have any further questions, please feel free to contact one of our offices where we will be more than happy to help guide you through the exciting process of buying your first home.

 

 

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