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Buy a House - Buying a Property as a First-Time Buyer

 


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Most first-time buyers find it very hard to buy property because of the ever-rising cost of housing in the UK. Some smart people have realised that there are some alternatives which can make it possible for you to own a property. You can buy a house with your friends or family. There are various mortgage packages that allow you to do that. You could also participate in a shared ownership scheme where you buy a percentage of your home and pay rent on the rest. Initial shares on these houses start from 25% but you can increase your share when you are able to afford it.

Finding a property to buy is now easier than before. There are so many options but the most popular ones are searching online, visiting an estate agent or browsing classifieds sections in property newspapers. You can use these methods to locate properties that are being auctioned, houses that are being build or have just been built, and homes that need improvement and so on. You need to decide what type of property you want to buy.

When viewing properties, make an effort to find out about the property as much as possible. You can do some research online and find out the history of the property. You can find out things like how many times it's been sold and how long the property has been on the market, and so on. For a small fee like £3 you can find out some more detailed information about the history of the property and what planning applications have been made in the past. You can find out about things like extensions on the property and how much the property was sold for previously.

If you are planning to buy run down property that needs improvement or renovating, do your homework and find out exactly how much it will cost to bring it up to standard. It's always a good idea to carry out a full survey on such properties.

Educate and familiarise yourself with the terminology that is used in the house buying process. Property chains may fall apart so make your plans wisely and maintain good communication with the seller's agent. Be realistic about the offers you put in. Offers that are too low may seem like a good way to buy a property at a bargain price but some people have lost out on good properties when another party stepped in and got the property by gazumping them.

Click here for a comprehensive list of websites where you can find out more information about buying and investing in property and real estate: http://www.estate-agents-uk.org.uk/property/ online

Copyright © Jennifer Kalaba. http://www.estate-agents-uk.org.uk/

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