First Time Buyer Q&A 🏡

Everyone was a first-time buyer once; this Q&A aims to answer some common questions you might have as a first-time buyer. All answers are from our wonderful agent Ian McClelland who has 34 years of experience in the industry.

When should I purchase my first home?

"In my opinion, the sooner you get on the property ladder the better but don’t rush into it without all the facts. Make sure it’s where you want to live, make sure you can afford it, and remember all the other bills and running costs that come with owning a home. Buying a house in your 20s means you could either have it paid off by the time you’re in your late 40s or you’ve got sufficient profit in it to put down a nice deposit on your forever home. Don’t forget, the older you are, the trickier it is to get a mortgage. When you’re in your late 50s, banks and building societies will lend but over a much shorter period, meaning repayments are a lot higher and life insurance premiums go up quite a lot."

What should I not do, and what are the usual mistakes?

"Don’t overpay for your first home and don’t buy somewhere because you feel under pressure. If it doesn’t feel right, then walk away. Even if it means upsetting someone further up (or down) the chain. View the house a couple of times and take a parent, relative, or a friend who’s moved house themselves with you. Make sure you ask the seller and the agent lots of questions. Why are they selling? How long has it been on the market? What are the neighbours like? How old is the boiler? etc. Always pay to have a home Buyers survey carried out on a house if it’s your first place. They will pick up on any structural issues that may only find once you start stripping wallpaper or lifting carpets."

What should I expect from an estate agent?

"Integrity, flexibility, professionalism, and good honest advice. Don’t be afraid to ask us lots of questions. We love first-time buyers, and we’ll answer as many as we can in an attempt to make the whole process as stress-free as possible. You will get stressed though, if you don’t, you’re not human."

Do I need a mortgage offer to go and view a home?

"You don’t but it helps to have a decision in principle from a lender. Because the housing market is so fast-paced and most houses get multiple offers, you really need to be in a position to pounce if the right house comes along. There’s no point viewing the house of your dreams and then finding out three weeks later that you can’t afford it. Our mortgage advisors can help find you the best mortgage deal out there and usually get an agreement in principle within a few hours."

When you speak to our agents there are NO stupid questions and we are here to help guide you through the entire process.

Click here to get in contact with your local branch to start the process of buying your first home!