Forum | First Time Buyer - Advice. by Swailsey

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First Time Buyer - Advice. 22:12 - Jun 27 with 2705 views

Hey TWTD-hivemind,

You’ve probably gathered that I worry and overthink EVERYTHING, but I think this sort of thing is justified in this instance!

I have rented for the last 12 years but in a month or two will be in a position to seriously start looking for a house to buy with my partner. I also appreciate this last year has been hell for a lot of people, so I’m sorry if this seems tone deaf.

We looked into it a few years ago, but not really in any meaningful way.

I feel a bit of over my head, am worried about getting it wrong, about missing something and also literally where to start. Do I get a mortgage advisor? Do I do some soft-applications online?

I find talking to someone in person much easier and am also terrified of getting it wrong, subsidence, damp, surveys, missing things etc.

If anyone fancies reaching out or give some high-level advise about where to start, that would be great. I’ve disappeared down a Google wormhole and feel worse!

Thank you.

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First Time Buyer - Advice. on 22:23 - Jun 27 with 2337 views

ITFC_1988

I would say your first step is to meet with a mortgage advisor and get an idea of budget etc, if you are local (Ipswich) I would recommend a guy called Jamie Richmond who works out of Palmer and Partners, he has helped us with our three purchases.

Then I would suggest you start looking for a property, and once you have found one, get a good conveyancer. I have always used Bates Wells & Braithwaite in Ipswich who have been very good but I’m sure many on here can give recommendations. They can help you with surveys and home buyers reports and keep an eye out for any issues with the title etc.

A very basic overview, but hope that helps :)

First Time Buyer - Advice. on 22:27 - Jun 27 with 2306 views

Reuser_is_God

Speak to a mortgage advisor, see what you can afford to borrow.

Then start looking for properties within that budget & go & view any that you feel may be of interest.

Regarding surveys there are 3 types, each one being more intrusive & more expensive, which you can choose which one you go with once you are in the mortgage application stage on a certain property.

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First Time Buyer - Advice. on 22:34 - Jun 27 with 2272 views

hoppy

I would suggest getting in touch with OsborneOneNil, who would be able to advise you what is best regarding mortgages.

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First Time Buyer - Advice. on 22:48 - Jun 27 with 2223 views

Simonds92

Would you be looking at a new build? We're purchasing our first property this year which is a new build and it has been relatively smooth apart from our solicitors being fairly useless. The developer has been very helpful though.

First Time Buyer - Advice. on 23:04 - Jun 27 with 2174 views

Lord_Lucan

Obviously seek professional advice, TW4TD posters (and I include myself) can't even agree on low level football players let alone houses.

My own opinion though (and it is very much an opinion) is to buy an older house rather than a new build and very much the old adage of better to buy the worst house in the best road rather than vice versa.

Parking is a big thing and spend as much as you can borrow (and afford)

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First Time Buyer - Advice. on 23:05 - Jun 27 with 2170 views

DBlues

Speak to a mortgage advisor but you can get a good idea from bank websites as to how much you can borrow like https://www.halifax.co.uk/mortgages/mortgage-calculator/calculator.html (doesn't count as an application as it an indicator and not applying for anything)

When viewing you can always ask someone else who has experience buying to come and view with you (could be a second viewing). If you trust them you can ask their advise on bidding as well.

Surveys there are comparison sites online and they provide the contact details for surveyors so you can ring them first before committing.

First Time Buyer - Advice. on 23:20 - Jun 27 with 2117 views

Ryorry

I'd bear in mind that even good full structural surveys can miss serious defects - I've had 3 such surveys in my house-buying life from 3 different, fully qualified and recommended surveyors, and all 3 missed v. serious problems. Eg., one commented that the wrought iron garden gate was "lovely", but missed the bulging ceiling which I spotted just by looking up! (turned out to be a leaking HW cylinder in the flat above).

Get one anyway, but if you or anyone you know has a friend who's a builder, ask them to come round & take a dekko as well. My ex did, the mate got out a house key, prodded the skirting board, & the key went straight through. Turned out to be quite extensive wet rot, which cost us thousands to rectify.

[Post edited 27 Jun 2021 23:38]


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First Time Buyer - Advice. on 00:24 - Jun 28 with 2036 views

greyhound

I'm a qualified mortgage advisor feel free to drop me a dm if you want mate

First Time Buyer - Advice. on 06:29 - Jun 28 with 1937 views

BlueBlueBluex2

Bought a few places over the years. Here are some of my findings;

Have never bothered with a full survey. Use your eyes.
Estate Agents have the easiest job in the world.
Use a solicitor local to you, you will visit there a few times.
Better to have the worst house in a nice street than the best house in a bad one.
Ex Council Houses will be built better than a new build. Don't be swayed by shiny stuff.
If not detached, be silent on a visit. Can you hear your neighbours?
What way does the garden face? Where will the sun be?
Where is the nearest pub?

When I bought my first place many years ago when I was 18, I filled out the mortgage application, had it agreed in principle and then went and got a bank loan for the deposit. Great times tho I suspect you would not get away with it these days.

[Post edited 28 Jun 2021 6:31]

First Time Buyer - Advice. on 07:00 - Jun 28 with 1890 views

PMac13

Steer clear of “cheap” online conveyancers they are a nightmare and the company representing our recent buyers almost collapsed the whole deal. Stick to a local company and check their reviews.

First Time Buyer - Advice. on 07:30 - Jun 28 with 1845 views

blue62

Go for it.

Good advice here, it def first step is mortgage advisor. You need to know how much you can borrow, how much the deposit will be and then the fees that you will incur. On top of stamp duty which is back very soon, I have always allowed around £5k.

It will be one of the most stressful things you do, but once you’re in your own place that is soon forgotten. And one day, in 20/30 years the place will be yours and you won’t have been lining someone’s else’s pockets in paying rent.

Good luck with it, and let us all know how it goes.

First Time Buyer - Advice. on 07:38 - Jun 28 with 1831 views

RopeyAdvice

4 things will make sure you are all good:

1) As others have said, mortgage advisor/brokers are a good start and will help you out.
2) Use a Solicitors that is not the cheapest that you can find (you'll realise why later down the line when)
3)Get a homebuyer survey done on your new home by a reputable surveyor
4) Patience

You will be fine GOOD LUCK

First Time Buyer - Advice. on 08:09 - Jun 28 with 1768 views

Meadowlark

Good luck.
I recently paid off my mortgage, and although it might seem a long way off to you, it's a nice feeling to know your home is yours and no more payments for rent or mortgage.
There are many on here who can and already have offered good advice.
I'll just say that although it might seem a bit daunting at first it definitely gets easier as time goes on, and in my opinion, is a worthwhile move.

First Time Buyer - Advice. on 08:19 - Jun 28 with 1752 views

Swailsey

Thanks everyone - this place never ceases to amaze!

Lots of good advice here, it has all been noted, thank you.

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First Time Buyer - Advice. on 08:56 - Jun 28 with 1693 views

Dubtractor

Agree with everything on here.

Another tip I'd give is to look at numerous houses, even if you have found one you like. The process of seeing other houses helps to satisfy you that you end up with the right one - I'm thinking here of your propensity to over think, and then doubt yourself I assume. I can relate to this!

Work out what is essential in a house, and what you're prepared to compromise on, because you will almost certainly have to make some compromises.

Do some low level snooping on potential neighbours - what does their front garden look like? Is there a washing machine in it?

Be prepared for steep prices right now, we're half looking and prices have gone up a fair bit in the last year.

Good luck!

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First Time Buyer - Advice. on 09:00 - Jun 28 with 1681 views

Kieran_Knows

Pretty much agree with what most people have said on here, some very good advice.

With regards to surveys etc, the only thing I would say is that regardless of who does them etc, you will probably always find something that they didn't, and as someone else has said, if you know any builder mates, get them round to have a look at stuff (we did that on our first property, and they uncovered a load of stuff).

I'm very lucky that at 29 years of age, that I'm on my 2nd house and will never move again (unless I win the lottery), it can be stressful at times, but all worth it in the end.

Good luck chap.

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First Time Buyer - Advice. on 09:02 - Jun 28 with 1672 views

N2_Blue

First Time Buyer - Advice. on 08:19 - Jun 28 by Swailsey
Thanks everyone - this place never ceases to amaze! Lots of good advice here, it has all been noted, thank you.

My only advice is also to be a little weary of new builds. I'm not saying don't go for a new build but if you do find a new build you want to buy speak to neighbours who have already purchased and moved into their properties and ask what kind of snagging problems they have had.

I would try an ensure any new build you go for is one more focused on quality, such as Hopkins rather than a company like Bovis etc.

I know at least 3 friends who have bought new builds (2 that were Bovis homes) that swear they would never ever do it again. One for which their house was so bad when they moved into it his wife was in tears for weeks and they put together a snagging report of almost 200 faults, some of them as serious as to have a gas leak to their cooker and some still unresolved after 2 years!

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First Time Buyer - Advice. on 09:09 - Jun 28 with 1652 views

Oldsmoker

Avoid Leasehold if at all possible.
If it's a new build then try to buy the lease from the housebuilder.
Past history shows the housebuilders selling the lease to an unscrupulous company that then hikes the yearly charge to excessive proportions.

If you're buying a top-floor flat then you may be responsible for the maintenance of the roof. Check with your solicitor.

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First Time Buyer - Advice. on 09:19 - Jun 28 with 1622 views

ElephantintheRoom

You can spend a loty of money buying a house on things you dont actually need. Top of that list for me would be a mortgage adviser - and a solicitor.

However you DO need to know how much you can afford - if you are financially sound go direct to a mortgage provider and have an outline meeting on what you can borrow - you can always go elsewhere. Or apply on line.

Never, ever use a solicitor - if you dont want to do conveyancing yourself - use one of the myriad of on-line conveyancing companies, some of which are local - and get a quote first.

Other than that - its common sense - location - and houses appear 'cheap' for a reason. Be very careful about starting in a terraced house. In my day your only worry was a tradesman with a van parking in front of your house. Nowadays people can get quite violent about parking. Might be a good idea to see who your neighbours are before you commit.

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First Time Buyer - Advice. on 09:22 - Jun 28 with 1614 views

Guthrum

First Time Buyer - Advice. on 09:02 - Jun 28 by N2_Blue

Indeed. Also look at the build quality (e.g. are walls boarded without plaster skim, how well are skirting boards and door architraves fitted and the like). Could be indicative of other issues or problems down the line.

I've seen properties where they've just taped down the inside corners of stairwells, which then move* and the tape ruckles. Also no proper corner beading, just thin metal strips which work their way out and wreck the corners. Or not using knotting on woodwork, so brown circles appear through the paintwork. Nothing substantial to put hooks or screws in walls.

* Houses do move after being built, as the weight and stresses sort themselves out, plus cycles of expansion and contraction. The advantage of a slightly older place is it's likely to have completed that process and have had the resuting (superficial) cracks filled.

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First Time Buyer - Advice. on 09:25 - Jun 28 with 1597 views

hype313

First Time Buyer - Advice. on 07:00 - Jun 28 by PMac13
Steer clear of “cheap” online conveyancers they are a nightmare and the company representing our recent buyers almost collapsed the whole deal. Stick to a local company and check their reviews.

Have to slightly disagree on that, I used two local conveyancers on previous buys and they were both awful, you could never get hold of them, always at lunch even at 11 and did everything by post, you would think email was a new thing to them..

I used an online company and the portal was spot on, you got an instant update anytime anything needed doing, communication was spot on and the whole thing was so seamless.

Personally, I would use them again rather than local conveyancers.

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First Time Buyer - Advice. on 09:31 - Jun 28 with 1582 views

Dubtractor

First Time Buyer - Advice. on 09:25 - Jun 28 by hype313

Contrary to my previous post agreeing with everyone, this is one point where I'd agree with you, but disagree with the others.

One purchase with local solicitors was a massive pain in the hole, two with online conveyancers were completely trouble free. For the local company the conveyancing was just a hassle on top of their other work, whereas the online company it was their bread and butter.

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First Time Buyer - Advice. on 09:35 - Jun 28 with 1575 views

hype313

First Time Buyer - Advice. on 09:31 - Jun 28 by Dubtractor
Contrary to my previous post agreeing with everyone, this is one point where I'd agree with you, but disagree with the others. One purchase with local solicitors was a massive pain in the hole, two with online conveyancers were completely trouble free. For the local company the conveyancing was just a hassle on top of their other work, whereas the online company it was their bread and butter.

Indeed, and they work in 21st century, as opposed to 1950.

Both companies I used were constantly so dismissive all the time, and when speaking to them you felt you were doing them a favor.

Many other friends have also said the same and I recommended a company online and they were all happy with the service, it just highlighted the fact, that the thinking behind using local companies would be easier, it clearly wasn't.

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First Time Buyer - Advice. on 09:37 - Jun 28 with 1569 views

blue62

First Time Buyer - Advice. on 09:02 - Jun 28 by N2_Blue

I have just bought my first ever new build and after living in an 1820 cottage it's amazing. Everything works, its well insulated, windows fit and are not draughty.

I think like with everything, you get what you pay for, some of the houses from the larger new developers are thrown up for quick profits.

I would always prefer a smaller developer that has a bit of pride in their work

And Hopkins are not bad, but I did visit one of theirs recently, which had a cupboard door hanging off in the kitchen and the place was full of dead flies due to being closed up for a long time, which I didnt think was a good advert for a house costing over 700k.

First Time Buyer - Advice. on 10:09 - Jun 28 with 1509 views

Guthrum

First Time Buyer - Advice. on 09:37 - Jun 28 by blue62

Tho if you are unfortunate enough to get an infestation of cluster flies, the house can be littered with dead ones in a matter of weeks.

Agree with your point about smaller developers (in the main).

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