Grantham Property News - Buying a home !
If you're looking to buy a property in Grantham there are a few things you'll need to think about before committing.
Here are 10 things our experienced team at Secure My Sale Estate Agents Grantham suggest you consider before taking the plunge.
- Work Out Your Budget
It's amazing how many buyers start viewing properties before they've even worked out what their budget is. Many buyers have a vague idea and start looking well before getting the finance in place, only to find out they can't borrow as much as they thought.
So, before you start viewing properties in Grantham and putting in offers, get in touch with a mortgage advisor to find out exactly how much you can borrow. There are some fantastic ones in Grantham that we could put you in touch with, there are some great deals available since the turn of the new year. Click here to request more information.
They'll also be able to tell you how much your monthly repayments will be, which will allow you to work out how much disposable income you'll have left each month.
- Have Your Finances in Place... And Factor in Additional Costs
If your money is tied up in long-term funds or accounts then it may not be easy to access immediately, so make sure you give yourself plenty of time to get your funds released, and ideally transfer it into an instant access account so that it's available when you are ready to make a purchase. It will save a lot of potential aggravation and will help to speed up the process.
Another thing to consider is the additional costs that come with buying a property. Things like conveyancing fees and removal costs are unavoidable, but you'll also want to think about items you'll want in your new property inGrantham, such as furniture, carpets and so on. After all, there's no point in blowing your budget on a property if you can't afford to furnish it!
- Find the Right Location
Think about your current circumstances as well as your future ones.
Do you need to be close to a train station?
Are there schools close by?
Do you want to be within walking distance of specific amenities?
Different buyers want different things when it comes to location, so think about what's important to you and what's not so essential.
- Consider Outside Space
The pandemic back in 2020 changed a lot of people's attitudes towards what they're looking for in a property, with gardens being a huge positive for buyers - and this is still the case.
You might not consider a large garden to be essential, but having some outside space, even if it's just a small courtyard, patio or a communal area can be very beneficial to your mental wellbeing.
- Think About Office Space
It's not just gardens that have become more important to buyers in recent years. Millions of people now work from home, so properties in Grantham with home offices have seen an increase in demand too.
So, if you're one of the many people who now spends more time working at home, then a property with a study, ample space for a desk, or a converted outbuilding may be perfect.
- Does the Property Have Potential?
It's worth considering what value you may be able to add to the property in future, or what a future buyer may see in it.
For example, is there space to add an extra bedroom, an en-suite, or a conservatory? If you're only planning to own the property for a couple of years before moving on, is it likely to increase in value? Does it have good transport links or new facilities being built nearby for example?
- What Condition Should the Property be in?
Are you looking for a property in Grantham that's ready to move into tomorrow? Or are you happy to spend time and money bringing it up to scratch?
You'll need to consider these options when you're viewing online, and potentially adjust your budget accordingly.
- Find a Good Conveyancer
You don't need to have a conveyancer in place before you start viewing properties, but the earlier you find one the smoother the process will be.
Get several quotes and ask family and friends and your estate agent if they can recommend anyone. A good, recommended conveyancer will help to keep the whole buying process as stress-free as possible. Again this is another thing that Secure My Sale could help you with finding.
- Understand What's Included
Try and find out which fixtures and fittings are included as soon as possible in the buying process, as it will allow you to work out if you need to budget for anything extra.
For example, appliances such as a fridge, freezer, dishwasher and washing machine will probably not be included as part of the purchase, which could lead to several hundred pounds of additional costs to consider.
- Keep Your Spending in Check Before You Buy
Remember, if you're taking out a mortgage, your lender will be taking a deep look into your finances. Therefore, it's a good idea to get them in check before starting the whole process.
Don't go loading up your credit card with purchases, and if you're able to pay off debts or make them more manageable, it will go a long way to helping you get approved for a mortgage.
Secure My Sale Estate Agents are your local estate agents in Grantham. Call us on 01476825258 or email support@securemysale.co.uk to chat with a member of our friendly and experienced team and discover properties for sale in Grantham today.
