Knowing where to start with your home buying journey can be difficult. But it doesn’t need to be! Follow our top steps to buying a house to help make the whole process easier.
1. Talk to a GSPC solicitor estate agent
A GSPC solicitor estate agent is immersed in the local property market, leaving them best placed to offer you advice on property prices and all the technical details of buying a home.
You will also need a solicitor to negotiate offers on your behalf in Scotland and to handle all the legal aspects of your purchase. Having your solicitor in place at the very start of your house hunt means that as soon as you’ve found a property that you like, you can instruct them to start negotiating a purchase on your behalf.
2. Work out your finances
There are a lot of different costs involved in buying a home. Careful budgeting and consideration of all the different costs involved are really important. This helps to ensure that you will be able to afford the repayments on your mortgage. Make sure to check out our downloadable budget planner.
Independent financial advice
Speak with an independent financial adviser, such as the team at our sister company, ESPC, who can help you to work out how much you can borrow, what your deposit would be and what other costs would be involved. For help with any mortgage related enquiry call ESPC on 0131 253 2920.
They can help you understand the different types of mortgages available and pick one that best suits you. Knowing how much you can borrow will let you know what price properties you can start looking at.
A little help to get you started
You may also want to consider some of the financial assistance schemes which are available to help get you on your way, such as Help to Buy or LIFT.
Property tax – how much will you pay?
Also bear in mind that you will have to pay Land and Buildings Transaction Tax (LBTT) on your new home. Use our handy calculator to work out how much property tax you will need to pay. If you buy a home for less than £145,000 you won’t have to pay any tax!
3. Ask the experts
When our new showroom opens in April 2017 we will be hosting a variety of events, including first time buyers events. Make sure to keep an eye out for our events calendar for details of all events.
4. Start hunting with GSPC
Start searching on gspc.co.uk and sign up for free email alerts to be automatically told about new properties and price changes that meet your search requirements.
Make sure to read The GSPC Property Guide which is full of useful advice and available to pick up, for free across west central Scotland.
5. Get out viewing
With thousands of properties for sale, GSPC offers the best way to identify the properties that you’d like to view. Nothing beats actually standing in a room and working out if it is right for you. We can’t stress how important it is to go and view lots of homes for sale.
Once you’ve found somewhere that you really like, always go back for a second viewing. Try to be critical and if possible take someone along with you who is a bit more impartial. You should also look at the Home Report to check the condition of the property and the surveyors’ valuation.
6. Making an offer
When you’ve found the house you like, you need to speak to your GSPC solicitor. They can help you decide how much to offer based on market conditions, latest sales and information from the Home Report. Once you’ve settled on an amount, your solicitor will submit a formal offer.
After your offer has been accepted (it might take a bit of negotiating back and forth to get to this stage) you need to finalise your mortgage with your mortgage adviser and your solicitor will complete the legal elements of the purchase on your behalf. They will work to complete the missives and formally agree the terms of your property purchase and once this is all agreed you are legally obliged to pay for the property.