Common Pitfalls To Avoid When Buying A Home

Here at Burgh Thorpe Solicitors in Peterborough we help a lot of people buy their new home. This means that we have seen a lot of the most common pitfalls that can easily be avoided. In this blog post we want to share some of these common pitfalls to avoid when buying a home in Peterborough, so you know how to avoid them.

It’s important that you understand how important budgeting for your home is and how much you can expect to pay in legal costs. Some home buyers’ skip the home buyer’s surveys, and this can result in more costs in the future. These are common mistakes that home buyers make, but they can be avoided and so can the extra stress they bring.

• Make Sure Your Budget

Buying a house is a long-term commitment. This is why budgeting is so important. You need to know the price range of properties that you can afford. This will avoid financial stress now and in the future. It is important that you are able to handle the financial responsibilities that being a home owner involves. This includes things like legal fees, property taxes, maintenance of your home, new furniture or white goods, utility bills and other ongoing costs in keeping your home running.

• Watch For Unexpected Legal Costs

When you work with a professional conveyancing solicitor you can rest assured that there will be no unexpected fees down the line. Instead, like our conveyancers in Peterborough, you will be made aware of all the potential legal costs in advance. This means that you can be prepared for them and budget accordingly. There will be various legal fees, surveys, land registry documents and more. These are all things that a trusted conveyancer in Peterborough can manage on your behalf.

• Don’t Skip The Surveys

While a home survey may seem like an additional cost you want to avoid to save money, it is not recommended. An additional home buyers survey will check the overall condition of the property. This survey is essential as it uncovers any potential problems that you might not have noticed. A home survey report can be given to you, so you are aware of potential issues. You can go through this and raise any concerns or come to an arrangement with the seller about covering the costs of these issues to be resolved. It could mean that repairs need to be made before you buy the home, or the asking price is reduced so you can make the repairs.

• Get A Mortgage In Principle

A mortgage in principle, which I the pre-approval for the mortgage, is extremely important. It can help avoid any negotiation challenges and show the seller that you are serious about buying the home. This will strengthen your offer when trying to buy their home. It strengthens your credibility and will help the house buying process runner smoother and quicker too. If you need help from an independent mortgage advisor, please contact us to connect you with a trusted mortgage advisor we work closely with.

• Use Legal Advice For The Paperwork

There is a lot of legal paperwork involved with buying a home, such as purchase agreements, contracts and more. Before you sign any legal documents make sure you take the time to read and understand them fully. It is recommended that you use legal advice for the paperwork because our conveyancers can put the paperwork into simple terms for you, taking out the confusing jargon. If you have any questions, you can always ask our conveyancing team. They will be only too happy to help.

Looking for a trusted conveyancing firm in Peterborough to help with buying your next home? Call our team now.