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Important things to consider when choosing a property

A home is more than just bricks and mortar, it’s the place we retire to after a long day at work and the place where some of us choose to raise a family.

We’ve compiled a list of key things which we recommend that you should consider when choosing a property: –

Location, location, location – We’ve all heard it said numerous times but the neighborhood you choose and proximity of the property to your workplace, schools and other essential amenities really does make a big difference. Ensure you visit the property in the daytime and evening so that you can ensure the neighborhood appears safe and there are no obvious parking issues.

Type of property – It’s a good idea to make a list of things that are important to you, such as how many bedrooms you need particularly if you are planning to start a family or if you need a large garden space for your four-legged friend. The other thing you need to take into account is that larger detached properties with more rooms tend to be more expensive which means that you will also incur higher stamp duty fees.

Refurbishment work – If you are purchasing a brand new property then this shouldn’t be a worry however if you are looking at buying an older property then you may need extra funds set aside for light refurbishment work such as a new kitchen or heavy refurbishment work such as structural changes.

Initial cost – Buying a home can be very expensive when you factor in your legal fees, stamp duty, valuation fee and mortgage fees – on top of the money you need to put down for your deposit. It is important that you have saved up enough money to afford all of the upfront costs.

Affordability – In recent years, many lenders have changed their stance on affordability which has resulted in tougher regulations surrounding the amount you can borrow. These changes have been introduced to protect more borrowers from being unable to make repayments on their mortgage should their circumstances change and their incomes decrease.

When considering the type of home that you would like to purchase, it is important that you look at whether your deposit and the amount that you can borrow up to through a mortgage will be enough to afford the property.

Our mortgage calculators can give you an indication of the amount you could borrow, for an accurate quote call our Mortgage Advisers on 01702 533 400 for a free initial consultation – or arrange a callback.

Estate Agents – Property websites like Rightmove and Zoopla provide a great range of tools to help you find the perfect home. Once you have chosen a few properties that you wish to view then you can contact the estate agents via the website.

If you are looking to sell a property then you may have seen the recent press surrounding online estate agents charging much lower fees than those provided by ‘high street’ estate agents, as they do not have multiple offices their overheads are lower which means they can charge you much less. Get a free quote from our partner online estate agent, Agent Online, to see how their fees and service compares against other traditional estate agents.

If you would like any further information then please call our Mortgage and Protection Advisers on 01702 533 400 or email info@ingard.co.uk.

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