Here at Forty/8 we know buying your first home can be a little daunting. We caught up with Sales and Investments Manager, Claire Halliwell, to discuss her top tips for First Time Buyers.
1. Save, Save, Save
We all know saving is tough, especially when it can mean missing out on a summer holiday or a night out with friends but trust me – it’s worth it in the end. Buying your own place is an expensive exercise, but just think, if you forgo that take away once a week, you could end up cooking in your very own kitchen once you’ve finished saving!
2. Use a recommended Solicitor
Ask around - speak to your friends, family or the sales team to find the right solicitor for you. You must feel confident in the advice you’re getting.
3. Ask questions
Don’t be afraid to ask questions. Whilst Solicitors, Estate Agents and Developers have been through this process hundreds of times before, you haven’t and it’s important you’re armed with all the necessary information.
4. Distinguish between the “wants” and the “needs”
Your wish list is likely to be as long as your arm but when money is tight, you must distinguish clearly between the “wants” and the “needs”. Have a think; what won’t you compromise on and what are you willing to sacrifice to reach your goal of owning your own home. Is a water slide down to your parking space really necessary?!
5. Think long term
When you’re looking for your first home you need to think about the bigger picture. You can paint walls and change a carpet, but you can’t change the room sizes, the outlook or its location. Get to know the area you’re about to move into if it’s unfamiliar to you, study the floorplan (rather than the photographs of the interior) and always consider the capital growth potential of buying there.
6. Accept hand me downs and take your time
When furnishing your new home – accept hand me downs from family and friends. Settle in and experience living in your home for a while, that way you can work out what furniture will work best for you and how you want to use the space. Gradually replace items piece by piece as you save up. Once you know what you want and need, shop around and don’t rush your decision. Unlike in a rental property, this time you’re making longer term decisions. You’ll be glad a few years down the line that you slept on a mattress for 8 weeks while you saved up for your dream bed!
7. Try your hand at DIY
Trust me when I say, the more you try the better you get! I’m not talking about plumbing or electrical work, but there’s plenty of odd jobs that need doing once you move in. YouTube has a whole host of step-by-step tutorials which should help make things a bit easier too!
8. Take your family and friends up on any offer of help
Ultimately, favours are free and when it comes to buying your first home, the word “free” will be music to your ears! You can repay the favour when they need a wall painting, a dog walking or a bed building next time!
If you're interested in finding out more about buying your first home, the Help to Buy Scheme or would like more information on our fantastic developments, contact our sales teams. Our marketing suites are open daily 10am - 5pm:
Aria, Leicester: +44 (0)116 255 9733 / firstname.lastname@example.org
Orleans House, Liverpool: +44 (0)151 236 7777 / email@example.com
The Hallmark, Manchester: +44 (0)0808 164 4288 / firstname.lastname@example.org