5 Top Tips For Buying Your First Home

Buying your first home can be a scary and confusing experience, especially when you don’t know where to start. At Taylor Cole Estate Agents, one of Tamworth’s leading agents, we are committed to making matters easier for you.

As a forward-thinking estate agent, we have a range of experience to support first-time buyers.

When buying your first property, you are investing in your future. At Taylor Cole Estate Agents, we take a personal and forward-thinking approach to gain a detailed understanding of your requirements of expectations.

Here are five great tips to outline what to expect when buying your first home: 

Save for a deposit

When buying your first home, the more you save, the better the mortgage deal you can choose from. Some banks and building societies will lend up to 95% of the property value, meaning you will require a 5% deposit.

There are a range of savings products geared towards purchasing your first home, such as a Help to Buy ISA, which could add a 25% bonus to your savings.

Take advice from our inhouse mortgage advisor

Simple explanations will be given about the financial side of buying your first home. This includes how much you may be able to borrow, the monthly repayments, the term of your mortgage and the different options offered by a considerable number of mortgage providers or lenders. At this stage, you will need to provide proof of income, which would normally be in the form of a minimum of three most recent payslips.

As your local estate agents, we have an inhouse mortgage adviser who can offer you full support in finding the right mortgage when purchasing your first home. We will obtain for you a document which is known as an Agreed in Principle or Decision in Principle. (This is not a formal mortgage offer). Book an appointment with our mortgage adviser, who will support you in the purchase of your first house by calling 01827 311412.  

Register your property requirements with Taylor Cole Estate Agents  

With a deposit saved and advice obtained regarding your mortgage requirements, you are now in a great position to start searching for your first home. The friendly and experienced staff at Taylor Cole Estate Agents will register your requirements. You will be able to discuss what type of property you would like to purchase, the area where you would like to live, the accommodation that is going to be important to you and how much you are looking to pay for your first home.

We will then match your requirements with properties that are available and make you aware of any other suitable properties that become available. As your local estate agents, Taylor Cole Estate Agents can organise viewings that match your requirements.

At this stage, we also advise getting advice and a quotation from a local firm of solicitors or conveyancers. You will need a legal representative when you have found your new home, so we are here to help you by providing recommendations. By working alongside local solicitors and conveyancers, our friendly local estate agents can organise a no-obligation quotation for you.

Declare your interest

Once we have found your dream home, the next stage is to declare your interest by making an offer to purchase the property. Once an agreement has been reached regarding the price you will be paying for purchasing your first home, there will be a range of information that you need to provide:

  • Proof of your existing address in the form of a utility bill or bank statement
  • Identification in the form a passport or driving licence
  • Evidence that you have a mortgage approved in principle in the form of a document known as an Agreement in Principle or Decision in Principle

You will also need to confirm which solicitors or conveyancing company will be acting on your behalf.

Get the keys to your new home

The process of buying your home can take, on average, between 10 and 12 weeks, although this can vary. Taylor Cole Estate Agents and your legal representative will advise you on the approximate time scales before getting the keys to your first home.

As one of Tamworth’s leading estate and letting agents, we are committed to making matters easier for you. We offer a simple and straightforward service, prioritising communication, honesty and full transparency.

When buying your first property, you are investing in your future. As your estate agent, we take a personal and forward-thinking approach to gain a detailed understanding of your expectations, offer personalised advice and support you in getting the best possible price for your desired property.

Find out more about how Taylor Cole can support you in the process of buying your first home by calling us on 01827 311412.