House Buying

Any pearls of wisdom ....

1 to 20 of 93 messages
M...eldy    pirate
27/01/2010 at 18:44
..... from any of you delightful lot?



From the basics to the unthought of


WIll be first time buyer with no chain (obviously)

Know kind of what price range I will be looking at,  what percentage do they put on a property knowing that an offer is likely?

Best fuels ?



Throw me some information 
27/01/2010 at 18:50

If there's plenty of properties within your price range, then you'll get to know what you can get for your money and whether they're overpriced or a bargain (which is unlikely; I've never seen a bargain, only fairly priced or overpriced properties).

If I loved a particular property, and thought it'd get snapped up by someone else with a higher offer, then I'd offer the asking price.  If it's a dump but you can see potential and like the feel of it, then offer what you think  is reasonable (going by other properties you've seen).

That's my experience of it, anyway. 

27/01/2010 at 18:52

Mortgages are a minefield,don't think you can sort your own out by using the internet,speak to someone qualified.Don't always go for lowest interest rates and look out for things like Higher Lending Charges (HLC's).

That's my tuppence worth.

debbo    pirate
27/01/2010 at 18:55
and buy in scotland - much more sensible system
Crash Hamster    pirate
27/01/2010 at 18:56

take a compass and a digital camera when viewing.

I'm guessing you'll have a better idea than most of which areas to choose/avoid.

Come up with a spec of what you want before you view...we bought a wreck and have done it up; you may want a place that you don't have to do a thing to; do you want it forever or just as a foot on the ladder?...that sort of question...

M...eldy    pirate
27/01/2010 at 19:01

Chiefly thank you,  luckily I have contacts so thats not too much of an issue



Wifey, feck off

Crashie, camera yes,  compass WTF? !!

M...eldy    pirate
27/01/2010 at 19:02
cathy thank you,  I was more wondering if the majority were 5% overprice thinking that offers will be 5% under if you get my drift
Crash Hamster    pirate
27/01/2010 at 19:04

Always good to know which way your windows face. East facing bedroom, sun in the morning, great if you're a morning person, a PITA if you want a lie-in; south-facing garden is nice; sun in your living room in the evening is nice, sun in the kitchen over breakfast is nice.

(Wild guess follows) i rreckon that peole who don't like their abodes generally don't get the sun in the right windows at the right time...

M...eldy    pirate
27/01/2010 at 19:06
on night shifts I wont give a toss which way it faces  



There is one property that has solar powered hot water,  will this save money in the long term?
Crash Hamster    pirate
27/01/2010 at 19:09

(this isn't my territory and I'm not an expert)...but I do remember hearing that some of the older solar-powered systems fail; worth making sure that it works; probably not worth paying a premium for...

...but if someone has taken the hit of installing it and you can get the system for free, it'd certainly help

M...eldy    pirate
27/01/2010 at 19:12
This is true,   not that solar power will be much good at the moment !!
27/01/2010 at 19:52

Get a decent solicitor, not the cheapest .  Make sure they have a dedicated conveyancer or conveyancing team.  And remember that the agent is acting for the vendor, not for you.

27/01/2010 at 20:08

When you've found a place you like, walk past it at various times of day and especially late in the evening to check out the neighbourhood - is it quiet and peaceful or do the antisocial lot across the road have barbecues with blaring music every evening? Is it choked at commuting or school run time? 

Also, the cheap place on the expensive road has better potential for a return than the pricey place on the cheap road. Even if it is a bit shabby.

27/01/2010 at 20:12

Buy the worst house on the best street. Oops Muttley just said that.

Do it up. Make piles of cash.

If you're a first time buyer knock 10% off and make an offer - you never know.

And location is key if you want somewhere just to live and not invest. A small house in a nice place is preferable to a big house in erm, lets say a not so nice place. IMHO.

27/01/2010 at 20:15

If it's near a river, ask about the garden too!

and don't buy too near the Ridgeway, you'll never find your way home

M...eldy    pirate
27/01/2010 at 20:17
Luckily I have 'insider knowledge' as to the <<ahem>> local hotspots 



Ditchy,  heard that one on the news earlier !
27/01/2010 at 20:18
Don't be afraid to lose what you think is your "dream house".  Take your time and stick to your guns on what price you think is reasonable.  If you lose it, then it wasn't meant to be.  Time and time again I've had friends who were devastated at not getting a house, then a little while later something even better has come along and they are glad it worked out the way it did.  It's a pressured time and I think it is natural to get caught up in the whole stress of it and think you HAVE to have a certain house.

Crash Hamster    pirate
27/01/2010 at 20:19
Ditchy
27/01/2010 at 20:19
ps: sticking to your guns doesn't mean never upping your offer - just not going beyond what you really think the house is honestly worth to you.
27/01/2010 at 20:20
I made sure I advanced my mortgage application as far as I could before making an offer - its something to use as a lever in negotiations "conditional approval"and all that - particularly as credit is so tight at the moment.
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