Procedure and buying advice for first tune buyer

kala85

Looking to buy a house in the next year or so.
I have a good bit saved in a deposit and yet to get any mortgage approval.

I'm looking for all willing advice for things to watch for when buying a house.

Santy2015

I'm on the same boat, ive a thread called saving for a mortgage 15/16 if you want to have a look at it. Plenty of advice on it. Me and my OH are looking to buy this year and are close to mortgage approval

kala85

It is a pity that there isn't a sticky in the forums for all the advice that's been shared here over the years

kala85

Just wondering if now is a good time to buy.
Seen an increase in prices over the last two to three years.

Looks like people have been holding back on buying and now with not many houses being built there seems to be a demand.

Seriously regret not buying two years ago but couldn't commit to a certain area due to employment.

athtrasna

kala85 wrote: »

It is a pity that there isn't a sticky in the forums for all the advice that's been shared here over the years

Try searching the forum, the advice is there.

MarkAnthony

The time to buy is when you need, and can afford, to buy.

It's a home rather than an investment, something which - understandably - has been forgotten in the last 10-15 years.

kala85

MarkAnthony wrote: »

The time to buy is when you need, and can afford, to buy.

It's a home rather than an investment, something which - understandably - has been forgotten in the last 10-15 years.

That was always my thinking that it was about getting the best possible house to commit to but seeing the prices increase I still have regrets when I see the price increase.

But will just have to get on with it

MarkAnthony

Increase from what, 2011? All well and good but it was impossible to get anything for the priced advertised as there was no supply. What you could get was sh1te. Now to be fair some people got bargains and there were some amazing deals on fixer-uppers in very limited cases, but really you've not missed out.

Santy2015

I'm 90% sure that we'll be buying this year. Renting is crazy money and I can buy a lovely 4 bed detached that would cost nearly half of what rent would cost. Plus we're getting married soon and want to have the house sorted first

MarkAnthony

MarkAnthony wrote: »

The time to buy is when you need, and can afford, to buy.

It's a home rather than an investment, something which - understandably - has been forgotten in the last 10-15 years.

It can be both though.

I would plan to buy fairly soon as I have no intention in paying the crazy rents required to live in my own place (currently house sharing and sick of it). I wont be living where I am now for good though so the house /apartment will be bought with renting it easily in mind in a few years when I will move to the the place I intend on settling down.

So the place will be both a home and an investment property just not at the same time obviously.

riclad

IS the house old, over 20 years ,does it need a structural survey .
is there a mortgage on the house,
is it lived in,
or probate sale,owner passed away, house is empty ,being sold for family.
is there walls or fences around the garden that show the garden boundarys .

Do The elecrical fittings look old, old type round ceramic fuse box,consumer unit.
it might need to be rewired .

is there any cracks in the exterior walls or the roof tiles ,
That may cause leaks in the future .