Buying Your First Home? How To Secure The Deal For a Steal!
If you are looking at purchasing your very first home, you will realise that it’s not an easy feat.
Getting your foot on the housing ladder is difficult in today’s market due to the rise in house prices and the substantial deposit required to secure loans and mortgages. There are bargains to be found, although it may mean that you may have to take on a renovation project, but if you can visualise the end result it will be worthwhile, especially as you will be able to secure a deal well below market value.
Taking on a renovation project is not without risk and it is important to seek expert advice on the properties condition and any alterations you would like to make. You could transform your vision into reality by consulting GNet 3D, who are a company which can adapt your initial ideas and sketches into architectural 3D views and animations. This will enable you to visualise the property you are renovating complete with any structural work you wish to undertake.
So, how do you find the ideal renovation property?
Once you find a property you like, research how long it has been up for sale, discover the property prices in the area that are similar to yours and check out the area. Although you are considering living in the property once renovated rather than selling it on, it’s important to buy in a good area with a buoyant housing market and great transport links. This will ensure the property retains its value.
Condition of the property
There is a huge financial difference in the costs related to cosmetically improving a property and having to undertake major structural work. Hire a surveyor who will be able to provide you with an accurate picture. Depending on your budget you may wish to avoid properties which require underpinning due to subsidence or damp issues.
An understanding of the overall condition will also give you the opportunity to haggle on the asking price as you will be armed with knowledge.
Once you have secured the deal and you have the keys, it’s time to prioritise the workload. Concentrate on major structural work first after clearing away rubble and refuse. Get quotes from at least three sources and remember that the most expensive doesn’t necessarily mean it’s the best. Look at reviews and examples of previous work.
Stay on track
Your budget is likely to be tight, so you need to keep a very close eye on expenditure. Ensure you know exactly how much work is going to cost as extras here and there will start to mount up. Timescales are also important, but you may need to be a little flexible in your expectations.
Create a home
Once the property is nearly at completion stage, the enjoyable part begins, which is making the project your home. You can stamp your own personality on the fittings and finish by decorating according to your own taste. Once your furniture is in place, it will be hard to imagine that the house was once a building site!
Enjoy your new home.