Buying a house is the biggest purchase you will ever make in your entire life. So, before you go rushing to the market, why not consider these tips first.

Are you ready to buy a house?

House prices in the United Kingdom continuously go up which might pressure you to immediately purchase one. But before you do that, ask yourself first, “Am I ready to buy?”

Check your bank account. Verify your credit score. Jumping into buying a house might just cause more financial trouble than pleasure in the future.

Check the true cost of the house

Buying a house is more than just the mortgage fee. You might even find yourself with many more expenses than you think. Here are some factors you need to consider.

  • Mortgage arrangement fee. You have to pay your lender an arrangement fee which might cost you around £1,000.
  • Removal costs. You will be lucky if you can fit all of your belongings in one car, but if you can’t, you have to consider renting a removal van. This varies from £100 to £1,000.
  • Home repairs. Buying a new house might mean that you need to do some repainting, fix the sink or even change the door. To make sure that the door will not need further changing and maintenance, consider using a composite door. Truedor are composite door manufacturers so you may want to contact them.
  • Furniture and extras. If you are currently renting a place that is already furnished, you will have to buy everything from sofas to beds for your new home. Then you have to allocate extra cash for doormats, hooks and other extras.
  • Boost your credit score. No bank will lend you a huge amount of money if you have a bad credit history, so make sure that you pay off your existing debts before applying for a mortgage.
  • Check the neighbourhood. Visit the neighbourhood on foot. Check the parks every now and then. See if the neighbourhood looks nice or does it imply any danger? You may also want to check a police crime mapping website, so you know what places are considered to be hotspots.
  • Take pictures when viewing. Taking photos will surely help as you visit more houses, so you can compare.
  • Thoroughly check the house. Some of the things that you may want to check for are damp spots, ceiling cracks or drips, the plumbing system, non-functional sockets, the heater, and of course any dead spots for your mobile phone.
  • Speak with your soon to be neighbours. Your neighbours might be able to provide you with some tips about the area and more specifically your future home.
  • Check if there will be any planned development in the area. Will the sea view be replaced by buildings after a year or so? You can search for information about planned developments by using your postcode and area.
  • Make sure the property is off the market. Asking the seller to remove it from the market means you don’t have to worry about them selling it to someone with a higher bid.

Choosing the right house will be tricky but you have to spare time for it. Think about it and reassess the property. Remember you will be living in this house for years, so it better be perfect for you.