The first step to being prepared to buy your first home
As a first-time buyer you want to be clear on what you should be doing to feel prepared and ready to buy your first home.
You are probably saving hard right now but you might not be sure what your first step should be.
We often get asked to explain it, so we thought we would put together a mini-course to help guide you though taking your first steps as a first-time buyer.
What are the typical first steps for a first-time buyer?
First you need to make sure you have worked out your finances. You need a rough idea of what you can borrow and what you need to save for a deposit and move costs. It’s also good to create a budget for once you own your new home. Also, try looking into what other help is available for you to buy sooner.
Next, get an idea of the type of property you want to buy. Learn what areas you can afford. You can use websites like Zoopla and Rightmove to find properties in your local area.
Once you think it’s possible for you to buy in the future you need make sure you can get the mortgage you need. Start by deciding how you plan to get a mortgage.
Will you be applying on your own, via an internet broker, your bank or will you speak to a mortgage adviser.
Speaking with a professional mortgage adviser can really help you figure out where you stand and get access to lots of deals at once. Read our article Should I use a mortgage adviser? to learn more or discover how our new mortgage adviser service could help you.
Once you have decided on your mortgage route and checked it’s possible for you it’s time to get out there and see properties. Register with local estate agents and start going to see properties you think you might like. It is also worth learning about the sale process so you know what to expect next and what mistakes to avoid.
Our top tip: Make buying real by first getting clear on where you stand
The problem is the steps are just half the story
It is very easy to either find the steps overwhelming or simply put them off because you don’t think they are that important.
Or you might be thinking, I know the steps now but I really want to understand everything in more detail before I move forwards.
In some cases this can lead to you waiting months before you start taking the steps you need to get prepared, often leaving things until they are either too late or they become stressful.
We believe there is a better way.
That first goal should actually be figuring out what is possible for you so that buying starts to feel real.
If you do it the right way then it can start to feel good. You start to have confidence and feel motivated ready for what’s next because you are clear on everything.
When this happens you will find yourself looking forward to buying and wanting to take the next steps so that you are prepared.
The five most important things to do first
We have found that there are five important things to do first that will help start to make buying feel real:
- Have you confirmed at a high level that you can afford to buy and it is possible for you?
- Do you understand what different ways there are for you to buy and how they relate to each other?
- Have you got a clear idea of what you need to save and ideally set yourself some sort of a goal?
- Are you aware of all the options to help you buy sooner and started to decide which are right for you?
- And do you know about the 3 stages of buying and have turned them into your own plan / timeline?
If you would like help to learn about them in more detail and to start taking them then join our free mini-course.
Why should I take the free mini-course?
In five simple 5-minute video lessons you will learn about the following:
Already completed these steps? Next, learn about the 7 most important areas when preparing to buy
You are probably saving hard right now and starting to think what else do I need to do so that I feel prepared for this next step in my life.
This includes a lot more than just these basic steps we mentioned above. You probably already know deep down there has to be more to it than that.
The average first-time buyer article you read will focus mostly on the steps. However, most of us have other things that are important to us that we want to get right too before we are confident to start going out and finding our next home.
That’s why we recommend continue to learn about your next steps. In the this article we explain the 7 most important areas to getting prepared >>. And why they matter so much to the success of buying your first home.
We highly recommend you learn about them!
Next, start taking steps to get prepared
Could a new type of mortgage adviser make buying your first house easier? Discover how they could help you
Avoid the most common first-time buyer mistakes
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If you are thinking of buying a house in the next 12 months then you need to make sure you get this. It's packed with examples of the most common mistakes.
- Covers every stage from planning your finances to the sales process
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- Packed with tips to help you avoid the most common mistakes
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