There are plenty of small details that often get overlooked when it comes to buying a property in the Penzance for the first time, so much so that heavy expenses go unnoticed and you end up in a pretty deep financial hole. Having said that, there should be no reason why you can’t feel encouraged by the prospect of moving to the stunning Cornish landscapes.
Understanding that there is more to just property buying than prices, mortgages and where to put your furniture is particularly important. In fact, we could probably give you a few thousand tips on property buying if we had the time. Instead, here are a few property tips you might not find in your standard tutorials that could save you time, money and effort.
Should You Be Buying?
Buying a home should be entirely dependent on your current situation, as it’s one of those things that can change your life drastically. If you feel it’s not for you at this time or you’re not 100 per cent, consider your options. Maybe a rental procedure would suit you better? Either way, making the choice to go forward with a purchase requires a whole lot of research.
House Price Tools
You’ve found a home that matches your dream aspirations but you know next to nothing about its history, yet you decide to go ahead and buy the damn thing anyway. This is a very common occurrence in the UK and it can cost you dearly. I’m not talking about underlying damage, construction issues or an overbearing aroma of damp; I’m referring to getting ripped off.
Your credit score could be the irritating barrier between you and your first home. If you’ve already been rejected the chance of getting a mortgage, it’s probably down to your credit rating. So, in order to feel a lot more comfortable about approaching someone for a mortgage, you need to think about boosting your credit score.
There are the obvious things like making sure you were able to make monthly payments in the past or staying at a certain address for a significant amount of time. Having credit cards that have been paid off in accordance with your agreement is also a plus.
Look at the Neighbourhood
Ok, enough about financial issues, paperwork and mind-boggling digits, let’s focus on the enjoyable aspects of property buying, starting with the neighbourhood. NEVER buy a property without learning about the neighbourhood and locating the nearest pub or post office doesn’t count.
Think about how long you plan on staying there before moving on and what the future might hold for you in the area. You might need a local railway station to make getting to work easier, your kids (or expected kids) might need somewhere where they can play and go to school, you may be miles from the nearest high street shopping centre or there might be a prospected building project in the works that could affect your privacy.
You rarely see people live out their lives in the first property they ever buy, so thinking about the resale value of a property is certainly a wise thing to do. It might seem like your dream home early on but things change and you may have to accommodate for a growing family.
With that in mind, it’s a good idea to look at your prospected home and think about how others would see it as well. Would they be interested in the lack of a downstairs bathroom? Is there room to potentially expand the property? Is the style going out of date? Ask yourself these questions whilst also considering some advice from experts in the industry.
Article provided by Mike James, an independent content writer in the property industry – working alongside a selection of companies including South West based Chartered Surveyors Hocking Associates, who were consulted over the information contained in this piece.