1st time home buyer

[AmericanRam]

Hey all,

Toya and I are looking to buy a home together and are just looking for some general tips on how to go about it as neither one of us has done so before.

Asides from I know looking at what we can afford mortgage wise and similar, what other tips do ya'll have for us?

Thanks in advance.

[1977 Ram Raider]

As long as you have a 20k deposit your all set.

[Zag zig]

Buy somewhere that you are happy to call home, it feels like home and not somewhere you sleep or test the bed springs, makes a huge difference to your mindset if you feel you have truly set down roots.

Consider is it short term, just a stepping stone, or somewhere you want to be in say 10 years time. If so do you plan kids? If so what are the schools like etc.

Is it commutable to your work, will traffic/ travel be a bind.

Just a few mind set starters outside financial aspects. Oh check out the neighbours too and if it’s a semi, make sure the walls are not too thin (nudge, nudge, wink, wink).

[AmericanRam]

37 minutes ago, Zag zig said:

Buy somewhere that you are happy to call home, it feels like home and not somewhere you sleep or test the bed springs, makes a huge difference to your mindset if you feel you have truly set down roots.

Consider is it short term, just a stepping stone, or somewhere you want to be in say 10 years time. If so do you plan kids? If so what are the schools like etc.

Is it commutable to your work, will traffic/ travel be a bind.

Just a few mind set starters outside financial aspects. Oh check out the neighbours too and if it’s a semi, make sure the walls are not too thin (nudge, nudge, wink, wink).

Cheers mate some very good tips there.Right now we both have a pretty decent commute so would like to get a tad closer if we can.

And as far as thin walls...a privacy fence would be good as well.??

[ilkleyram]

Apart from affordability, three Ns - neighbours, neighbourhood and near.

Are the neighbours going to be people you can, at worst, tolerate?  Do you want neighbours at all?

What's the neighbourhood like? Can you leave your car on the drive and find it there in the morning in one piece, do you worry about your kids going to the local schools or you finding places to go for fun and entertainment?

And is it near enough for the things you want to do - work, airport (for ease of travelling to Derby), parents, kids with an ex partner, sport.

Answer those questions  - and you will have to agree on compromises along the way - and you'll find your home. Visit an area if you can at different times of the day, week and night. Pleasant looking areas in the day might be drug dealer heavens at night or on the way back from a bar.

And the bit about the privacy fence was too much information ?. Good luck to you and Toya.

[King Kevin]

My brother in law  has just bought in North Carolina  he was lucky enough to pay cash from his sale in the UK .Not an expert on the American market but some things hold good anywhere .

1 Location location location ;- sometimes you have to compromise between a smaller property in a good location or a bigger one in a not so good .

2Think ahead, moving costs money again is it worth the stretch now [not too much] to save cost later down the line .

3 Again not an expert on US mortgages but if it's similar to the UK work out what tie ins there are and what your future plans are .

4 Keep your mortgage term as short as you can comfortably afford ,you pay less interest.

5 It's your home don't just look at it as an investment .

Good luck and enjoy.

[McRamFan]

Go and visit the area at night over the weekend.

Stand outside the property, and really listen.  What do you hear?

Discuss with Toya your views on decoration, renovation, development etc.  One may be all for it, one may hate the thought.

Parking.

Public transport links, cars can break down, and kids need to see their friends.

[Tamworthram]

22 hours ago, Zag zig said:

Buy somewhere that you are happy to call home, it feels like home and not somewhere you sleep or test the bed springs, makes a huge difference to your mindset if you feel you have truly set down roots.

Consider is it short term, just a stepping stone, or somewhere you want to be in say 10 years time. If so do you plan kids? If so what are the schools like etc.

Is it commutable to your work, will traffic/ travel be a bind.

Just a few mind set starters outside financial aspects. Oh check out the neighbours too and if it’s a semi, make sure the walls are not too thin (nudge, nudge, wink, wink).

If you can afford it, try to avoid seeing it as short term or a stepping stone. The cost of moving house is horrendous especially when you add in stamp duty (from which most first time buyers are exempt). My daughter and son in law are currently buying their first house (will be good to have our own house back) and are only looking at three bedroom houses. They don't want to be thinking about having to move to a bigger house in a few years if they have kids.

Also, seriously consider a fixed rate mortgage (I would suggest 5 years) as this will protect you against any interest rate rises for a few years. Look out for the arrangement fee (probably in the region of £1000) and take this into account.

[Inglorius]

I imagine the housing market is different to the one in the UK but I would suggest that you try and remove any emotions from the process - the picture postage cottage you've fallen in love with might be riddled with dry rot and woodworm, never get enticed into a bidding war and never bid the full asking price especially to begin with.

Research the market beforehand so you know how much similar properties sold for in the area to see if they are grossly overpriced sometimes biding your time is a good thing as if they are then the seller will then drop the price. See how long a property has been on the market for which will also point to it either being overpriced or there is something wrong with the property or the neighhourhood.

[AmericanRam]

Cheers for the tips gents.We are both pretty nervous about this and yet excited at the same time.

A good thing also is that we are not in a rush so will definitely be taking our time to find the best fit, taking into account some of the tips and suggestions yall talked about so thanks again for that?

[i-Ram]

I wouldn’t suggest buying a new build off plan if l was you.  Seems to be great difficulties building promised walls over there.

[Boycie]

8 hours ago, i-Ram said:

I wouldn’t suggest buying a new build off plan if l was you.  Seems to be great difficulties building promised walls over there.

Fake news.

Phoney Baloney.

[i-Ram]

15 minutes ago, Boycie said:

Fake news.

Phoney Baloney.

[Van der MoodHoover]

22 hours ago, AmericanRam said:

Cheers for the tips gents.We are both pretty nervous about this and yet excited at the same time.

A good thing also is that we are not in a rush so will definitely be taking our time to find the best fit, taking into account some of the tips and suggestions yall talked about so thanks again for that?

Make sure that you buy in an area with good services.

Particularly broadband. 

Give it a couple of years until Toyas headaches start and you'll need access to some stimulating "visuals" for the occasional Tommy Tank.

 

??

 

Seriously both- good luck. I'd suggest letting Toya find somewhere that she feels a good vibe. 

[Boycie]

18 minutes ago, HantsRam said:

Make sure that you buy in an area with good services.

Particularly broadband. 

Give it a couple of years until Toyas headaches start and you'll need access to some stimulating "visuals" for the occasional Tommy Tank.

 

??

 

Seriously both- good luck. I'd suggest letting Toya find somewhere that she feels a good vibe. 

You filthy creature.

[froggg]

47 minutes ago, HantsRam said:

Make sure that you buy in an area with good services.

Particularly broadband. 

Give it a couple of years until Toyas headaches start and you'll need access to some stimulating "visuals" for the occasional Tommy Tank.

 

??

 

Seriously both- good luck. I'd suggest letting Toya find somewhere that she feels a good vibe. 

DFSHPD?

[Comrade 86]

Lots of good advice on here! Three other things to bear in mind...

• Get a decent surveyor. Last thing you need is to move in and find out the boiler is about to blow, you've got woodworm in the roofspace and your house is built on a floodplain and therefore uninsurable  - extreme examples but you get the gist!
   
• Do some research and make sure your surveyors / conveyancers have a good reputation (Trustpilot etc) - cheapest is not always best (or even cheapest in the long run). Also, some conveyancers offer a deal by which if the purchase falls through because of a bad survey, you don't have to pay your legal fees again. This usually entails pre-payment for all legal and survey fees but if you can budget for that then do.
   
• Lastly, don't overstretch yourself. Ensure your mortgage repayments are comfortably affordable. In uncertain times, even a small rise in interest rates can create financial havoc if you've been over-ambitious with what you can afford. 

Best of luck mate ?

[ColonelBlimp]

On 28/02/2019 at 19:43, HantsRam said:

Make sure that you buy in an area with good services.

Particularly broadband. 

Give it a couple of years until Toyas headaches start and you'll need access to some stimulating "visuals" for the occasional Tommy Tank.

 

??

 

Seriously both- good luck. I'd suggest letting Toya find somewhere that she feels a good vibe. 

Agree with the 'vibe' thing. Me and the missus knew nothing about Derby so we drove round a few areas.

We got to Mickleover and she said it felt right to her, so that's where we concentrated our search.

I can live anywhere as long as she is happy. Maybe the same for you.

[NC--RAM]

4 minutes ago, ColonelBlimp said:

Agree with the 'vibe' thing. Me and the missus knew nothing about Derby so we drove round a few areas.

We got to Mickleover and she said it felt right to her, so that's where we concentrated our search.

I can live anywhere as long as she is happy. Maybe the same for you.

Welcome to the "village". We moved to Mickleover last year after 25 years in Littleover,(a grand total of 3 miles) Great amenities.

[sawley_ram]

On 03/03/2019 at 19:15, NC--RAM said:

Welcome to the "village". We moved to Mickleover last year after 25 years in Littleover,(a grand total of 3 miles) Great amenities.

Father-in-law lives there on the "Australian estate" (we live in Sawley surprisingly) and it is a great little place. If ever we move I'll always have it on my radar.