Simple tips for first time buyers

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by: bythesea
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Word Count: 439
Date: Tue, 12 Jul 2011 Time: 2:15 PM
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The lead-up to buying your first house is generally a magical time, although it can also be a stressful one unless you're well prepared for what's in store. As with any major purchase it pays to carry out thorough research into the process you'll be going through in the coming weeks and months.

Your first step is to decide exactly what it is you're looking for from your new home. Is location the most important thing for you, or are the number of bedrooms in the property a major factor, for example? Draw up a list of everything that you would like your dream house to cover and do you best to rank them in order of preference. The chances are that you'll have to compromise on some of the points, so it's good to establish at the outset which things you're willing to let go of in order to land the right property.

Next, you'll need to work out exactly how much you'll be able to spend on your house by drawing up a budget. Arrange a visit with a mortgage advisor so that you can get an understanding of the amount of money you'll be able to borrow.

Don't be tempted to stretch yourself too thin financially though as that can lead to high stress levels further down the line - and also be aware that there are other costs such as solicitors' fees, survey costs and stamp duty to take into consideration. You'll also need to set aside some money for ongoing costs such as home insurance, council tax and utility bills.

Depending on the type of property you go for, there may be more expenditure involved in bringing the place up to scratch - whether there's major repair work to be carried out or simply a new lick of paint on the interior walls, all such jobs will cost money so factor the expense in when you're drawing up your budget.

Once you've decided on the place in which you'd like to buy your house, take the time to research the area in detail. You'll want to know exactly what type of environment you'll be moving into, so take your time and explore your options. If you're in any doubt over the best area to pick - or indeed need any other general assistance with your purchase - seek advice from friends or family who already have a foot on the property ladder. People who have been through a house move before will be able to offer you invaluable advice from direct experience with the kind of issues you'll be facing - so listen carefully!

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