07 November 2017
Whether you’re a first time buyer, looking to upsize or just want to move on, there are lots of things to think about when moving house. It’s a big investment and making mistakes when you buy can cost a lot of money.
To help you see the wood from the trees we have compiled some things to think about when buying a new home.
When buying a house there’s much more to consider than just the property itself. Do you need to have good commuting links? Is being near a good school important? Have you always dreamt of being in the countryside, or being close to a bustling city?
At St. Modwen Homes we know there’s lots to consider and we pride ourselves on choosing prime locations for our developments.
Mortgages are complicated things to get your head around. There’s so much to consider and so many things that could affect your ability to get a mortgage. The best thing to do is to do some research. Speak to your bank, ask your family, do some reading. Alongside that, if you buy a house with St. Modwen Homes, we’ll give you free access to an independent mortgage advisor who will help you through the process.
Here’s a really helpful guide to mortgages from the Money Saving Experts Guide: https://www.moneysavingexpert.com/mortgages/mortgage-guide. There’s tonnes of helpful tips and need to know info to make the concept of mortgages slightly easier to understand.
Be Aware of All Costs
When you buy your home the costs are not just limited to your mortgage – legal fees, moving costs, Stamp Duty and furniture are just some of the things you’ll need to consider.
Don’t worry it’s not all doom and gloom and an empty wallet, there are lots of schemes available to help make the buying process easier. Part Exchange, Assisted Move, furniture packs and other ‘money saving’ deals are more common when purchasing a new build and are designed to help you along the way.
Help to Buy
Saving for a deposit can often be a little daunting. Help to Buy is designed to help buyers move up the property ladder more easily. There’s lots of information online or, if you’d prefer to speak to someone, our Sales Team can help explain it to you. The scheme allows for home owners to buy with a deposit of only 5% and a 75% mortgage, with the government covering the cost of the remaining 20% through an equity loan.
New Build or Not?
When purchasing a new build you can start your home-owning journey completely fresh; your home is a blank canvas, ready to make your own. There’s no need to paint over colours you don’t like or do DIY to patch up over damage created by the previous homeowner. For those wanting a project maybe this is what you want – for many people however, these repairs can be costly and time-consuming. You can expect to be faced with considerably less DIY jobs when buying a new build, meaning you can begin enjoying your home sooner. You can also pick your fixtures and fittings. Not forgetting the NHBC’s 10-year warranty that comes with a new build home – just a few of the perks you can expect when you buy new!
Hopefully, we have been able to provide you with some helpful information to assist you in your journey of purchasing your next home. If you have any more questions, contact any of our Sales Teams and they will be happy to help.
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