First-time buyers guide: Viewing a property
UK house prices have slightly fallen for the second consecutive month and interest rates have been cut. So that could mean it’s a better time for first-time buyers to start looking for their property.
Although average first-time buyers in the UK are over 30 before they step on the property ladder, owning a home is still an aspiration.
You may be close to taking that step – and that means it’s time to understand more about what is involved with buying a property.
Firstly, remember that the more you’ve saved for a deposit the lower the interest rates you are likely to pay. According to UK Finance, the average first-time buyer deposit in northern England is £30,679.
You may have less, of course, but that doesn’t mean you’ll be refused a mortgage offer. Speaking to a mortgage broker first will help you understand the ins and outs of mortgages.
But once that is done, what’s next? Well, you’ll need to start looking for your first home to buy. So, here’s our guide to help you.
First-time buyers guide: Viewing a property
When you're viewing a property to buy, it can be a bit daunting. You’re entering someone else’s home and there’s a lot to take in.
But if you are prepared, then it can eradicate some of the nerves. And the more you view, the more relaxed you’ll be.
What to look for when viewing a property
When you find a property that interests you, it’s time to book a viewing. First of all, remember that even though you’ve seen photos, pictures can make rooms look bigger (or smaller) than they really are.
So before your first viewing, remember to be realistic about what you’re about to see.
Location
You can check out the property’s location before you view. This will not only offer a sense of the dimensions, it also gives you a first impression. For example, are there any issues with the roof or guttering? These can be repaired, but any repairs need paying for and this can make a difference to your offer.
If you have borrowed your maximum amount and have few savings, the last thing you want to do is start finding funds for repairs within weeks of moving in.
Outside space
As you pull up to the property, check out the outside space. Will it suit your needs? For example, is there space for pets or your children? Is the garden too big for you to look after?
Having a look ahead of your viewing is a good idea as it will save you a visit if you really don’t think it will work. You may not be able to see into the rear garden, but by walking past it will let you see the property’s condition and size.
These checks will also help you think of any questions to ask if you go ahead with the viewing. And if it’s really unsuitable, you can cancel the viewing.
Size matters
Seeing a property allows you to understand what you’re actually looking to buy. It might be smaller or larger than you thought. And if it’s clearly not going to be suitable, it saves you the task of viewing. It could be in the perfect location but too small, or parking might be an issue.
It also gives you chance to work out how close neighbouring properties are as well as the neighbourhood. Is it noisy or nice and quiet? Are other properties well maintained? This gives you a clue to the neighbourhood.
Viewing day
With a little bit of knowledge in advance, you can approach viewing day with a bit more confidence. You’ll know a little bit about the exterior, so you can ask about any concerns.
While looking around the property, there are a few things you need to check:
Kitchen: If you’re a keen cook, is there enough worktop space?
Storage: Are there enough cupboards around the property? Ask about any hidden storage space the vendor may not have mentioned to the estate agent.
Lighting: Some people like privacy over natural light. For those who love light, check to see if there’s much coming into the rooms. Are there trees or neighbouring buildings blocking your light? That can be a deal-breaker for many people.
Decoration: The photos don’t always give an accurate picture of how ‘loud’ some rooms are decorated. It’s easy and inexpensive to paint walls, so don’t worry about that. But do check the walls. Are there cracks? Freshly plastered walls can often show light cracking, but subsidence issues produce larger cracks. Getting a home buyer’s report from a qualified surveyor will highlight any serious problems.
Rooms: Will you really be able to fit your furniture in the rooms? Are the rooms of this property larger? Will you need to buy more furniture? These are all questions to ask yourself.
Questions to ask
Once you’ve asked yourself questions, ask the vendor some questions, such as:
Why are they selling the property?
How long has it been on the market?
Has there been much interest?
How old is the boiler and how efficient is it?
Have there been any changes, such as major works like extensions?
How old are the windows and are they guaranteed?
Is the property listed or in a conservation area? There are some properties that have clearly been built in the past 20 years, so no need to ask, but if you’re unsure it isn’t a silly question.
How much is the council tax bill?
Are there any service charges?
How long have they lived there?
Have they already put in an offer on a property? If not, it could be a long wait for them to find their perfect new place, so be prepared.
One thing to ask is if you can take photos and ask if it’s OK to open cupboards or doors. Most people will be fine and refusal isn’t necessarily down to them hiding something, they may just like their privacy!
On the day
Making a good impression on a vendor could mean they will be happier to negotiate or prefer you as buyer. Remember to turn up on time, don’t be rude about their choices, don’t bring your extended family to view and offer to remove your shoes when you arrive.
If you need to cancel your viewing, do so as soon as possible because you don’t want to waste their time.
What else do I need to know?
Once you have visited, you can decide if you’d like to make an offer. Our handy guide to outlines the steps to buying your first home.
And over the coming weeks, we’ll delve deeper into the steps first-time buyers need to know about. From conveyancing to choosing a solicitor and more, our tips will help you prepare.
In the meantime, if you would like to talk about how to improve your chances of getting a mortgage offer, you can contact our helpful team today.
Your home may be repossessed if you do not keep up repayments on your mortgage.
