Guide to Buying

JonSimon Estate and Letting Agent

Welcome to the JonSimon guide to buying your new dream property! We know that looking to purchase a house can be a tricky time without proper guidance. Thankfully, the friendly team here at JonSimon have come together to create a thorough guide that will help you, no matter where you are during the process.

 

If you’re looking for an estate agent to help you secure your dream property, then why not get in touch with us today? We operate in the north-west in places such as Burnley, Ramsbottom, and Radcliffe, and have helped hundreds of people in the past. All this makes us confident that we can help you.

Save up for a Mortgage

Let’s begin our house buying guide with the very first step – saving for a mortgage and deciding your price range. Your deposit will usually need to be at least 5% of the overall property asking price. So, if a house is worth £200,000, the deposit will typically be around £10,000, and then, you will borrow the rest of the money to make the purchase. Something worth noting is that a bigger deposit usually means you can apply for mortgage deals with lower interest rates.

Find a Property You Would Consider Buying

 

Now you have a price range in mind, it is time to look for your new home. The most common approach these days is to search for a house and do your first bit of research online. Here at JonSimon, we have an extensive list of properties to rent in Burnley, Ramsbottom, Radcliffe, and many of the surrounding areas.

 

Found one you like? Now it’s time to do as much research as you can. If you are buying a house, chances are you are planning to spend an extended amount of time in that area. Perhaps you’re settling down and starting a family? Either way, it is important to make sure the property, the area, and the local people, are suitable for what you want and desire.

 

Research details like:

  • Building type and age
  • Local crime rates
  • Local amenities
  • Car insurance prices
  • Nearby schools and/or hospitals

Request to View the Property

 

After working out your budget and researching the area, it’s time to view some houses! The property owner may want to be present at the time of viewing, but, very often, they prefer to let an estate agent handle this instead. This is the first opportunity you will get to analyse the structure, and integrity, of the building and see if it is suitable for your needs. Don’t leave any stone unturned and try to photograph absolutely everything for reference later on.

 

You should ask:

  • Is the property well insulated and/or soundproofed?
  • How much storage space does it have to offer?
  • Is the property’s exterior in good condition?
  • Are there any other structural issues present?
  • Is there any damp present?
  • Are the windows double-glazed and in good condition?
  • Is the plumbing up to scratch?

 

(Government guidance on viewing properties and moving home during the coronavirus outbreak).

 

Apply for a Mortgage Agreement in Principle (AIP)

 

This is not a mandatory step but one that could help you secure your dream property. A mortgage agreement in principle (AIP) acts as validation from a mortgage lender that they are willing to lend you a certain amount of cash (in principle). This can also be called a decision in principle (DIP). Having one of these can make you seem like a more attractive buyer to the property owner. It shows that you are indeed able to secure the right amount of cash to buy the property.

Make an Offer

 

No guide to buying a house would be complete without some guidance on making an offer. When it comes to making an offer, it is not unusual to offer less than the asking price or to negotiate. If other people are interested, however, it may be in your interest to offer more. Look at similar properties in the region, and how much they sold for, as this will help you work out how much the property you want to buy is worth. Once you have decided on your offer, put it in writing and submit it to the relevant estate agency. Make it clear that your offer is subject to a survey and the property being taken off the market.

Apply for a Mortgage

 

You need to know what type of mortgage you want, be it a fixed-rate mortgage or a tracker. You should also have an idea of how long you want the mortgage for; in other words, how long do you want to spend paying it off. Check how much your payments will be based on different loan amounts, time periods, mortgage terms and interest rates.

Find a Conveyancer or Property Solicitor

 

This is for the legal process that occurs after your offer has been accepted. This involves carrying out searches, creating and checking contracts, dealing with the Land Registry and paying stamp duty (if there is any to be paid).

Get a Property Survey

 

A property survey assesses the condition of the building and helps to uncover any structural problems. This is an optional step, but it is much better to know of any issues before you buy. This allows you to make an informed decision on how much to budget and offer. The results of a survey can even enable you to negotiate a lower property price, because you may have discovered that there are things that need to be repaired or replaced at a cost.

Exchange Contracts and Move-in!

 

Great news! The property is yours and you can now move in! As exciting as this sounds, the actual moving part is perhaps the most stressful bit! The trick to making this go as smoothly as possible is to prepare and plan early. Get your mode of transportation sorted early and start packing boxes way before the day you need to actually move. Fail to prepare and prepare to fail as they say – and it is certainly true here!

Set Your Bills Up and Enjoy Your New Place!

 

The last thing you want to talk about, when reading a guide to buying a house, is bills. Nobody likes paying bills but they are a fact of life, unfortunately! Get yours sorted early and they will be out of the way and ticked off the list.

 

You need to set up your energy and water supplies, your council tax if applicable, and your phone/broadband if necessary. You should also change the address on your official documents and forms of ID, so everything is listed with the right address moving forward.

Looking To Buy Your First House? Get In Touch With JonSimon

 

We know all too well that buying a house can be a stressful experience, that’s why our expert team, here at JonSimon, work hard to make everything as straightforward and enjoyable as possible. Therefore, if you’re looking to purchase a house in the north-west then do not hesitate to get in touch with us at JonSimon today.

 

Contact Us

If you live in or around Radcliffe call us on 0161 723 1155, if you’re in the Ramsbottom area ring us on 01706 489 966, finally, if you live in Burnley you can contact us by ringing 01282 427 445.

Meet The Team

Dramatically reinvent market-driven relationships vis-a-vis customer directed e-business. Monotonectally incentivize distributed e-markets through high standards in.

Simon Morris

BA (hons) PGCE, MARLA, MNAEA

Company Director

Jonathan Morris

MNAEA

Company Director

Jackie McLeod

MNAEA

Sales

Liam Pope

Lettings

Ryan Dillon

Lettings

Hailey Edwards

Lettings

Julie Yeomans

Lettings

Michael Greenhalgh

Company Director

Andrew Collins

Sales

Christopher Eastwood

Sales

Gareth Dooley

MNAEA

Company Director

John W Dinsdale

FRICS

Consultant/Charted Surveyor

Laura Stockdale

Lettings

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