Ten house hunting tips for first time buyers

Buying a property for the first time is an exciting milestone, but it can also be quite a daunting task. With the right advice and plenty of homework, the process can be smoother than you might imagine.

House hunting tips for first time buyers

1. Establish a budget. You’ll need to know how much you can afford to spend on your new home and the best starting point is to speak to an Independent Financial Advisor (IFA). They can search the market for a variety of mortgage products and then advise you on the most appropriate one for your circumstances.
2. Save! It’s best to have as large a deposit as possible so you can secure the best mortgage rates and to minimise your repayments. You’ll need to keep in mind the extra costs – solicitor fees, applicable taxes and moving expenses – and have money set aside to cover these.
3. Appoint a solicitor. An experienced residential property lawyer will advise you on how much to offer for a property, liaise with your lender to ensure that the funds are in place to complete the purchase, examine the Title Deeds and other documents, and complete all the legal work.
4. Visit as many properties as you can. This will give you a clearer idea of what you like and what you don’t. It will also give you a better feel for the market and an idea of what represents best value for you.
5. Register your requirements. Most estate agents have a database of active buyers, so it’s worth registering with local agents to ensure that you are notified when suitable properties appear on the market. ESPC will send you frequent updates about new properties coming to the market, plus their Exclusive to ESPC feature means, properties are listed 72 hours before other websites. 
6. Do your research. If you are not familiar with an area you should drive or walk around to check it’s practical for you. What are the transport links like? How far is the local shop? Will you easily be able to get to work? Do you have friends that live locally? All of these factors can have a considerable impact on the suitability of a particular area.
7. Be open-minded. You will have a perception of your ideal first-time purchase, but the property that you end up purchasing may be quite different to what you originally had in mind.
8. Be disciplined. Don’t allow your heart to rule your head. As a first-time buyer, your purchase will almost certainly have to be sold by you at some point in the future. Choosing a property that will appeal to a wide range of people will be much easier for you to sell when the time comes.
9. See past poor décor. A poorly presented property is not necessarily an unsuitable purchase, so see past the dated décor, avocado bathroom suite and patterned carpets! A coat of paint can transform any home.
10. Be patient. It is tempting to want to purchase your new home at the earliest opportunity, but bear in mind that the market constantly changes with new properties appearing almost every day. Wait for the right one!

Find out more information on buying your first home

For more information, have a look at our first time buyers' guide or pop into our Property Information Centre to talk to one of our experts.