10 Things to consider when buying your first property

Buying your first property and taking that first step on the property ladder can be extremely exhilarating but also intimidating. We all recognize that buying a house is the largest purchase we will make in our lifetimes and the decision to take that huge step should not be taken carelessly. So to make things that bit easier for you, we have compiled a list of matters that you should take into consideration when buying your first home.

 

1. Is buying a property the right decision?

Prior to you proceeding, and committing to any monetary dealings, make certain you have weighed up the pros and cons of buying a property and renting one.

Buying a property is, potentially, a healthier long-term investment but you have to make sure that you have cautiously measured all of the expenses (even the hidden ones!) involved in buying a home and make sure you are in a comfy financial position to be able to do so.

2. Do you have enough money for it?

Different in days gone by, these days you are expected to obtain a 5% – 10% deposit to put down on purchasing your first home. With the average deposit being paid by first time buyers considerably more than it used to be, you must make sure that you have saved sufficient funds to get you past the opening hurdle.

3. Will you be able to get a mortgage?

Generally mortgage lenders base their decision on whether to loan you the funds to buy a house on your earnings, or your joint earnings if you are buying the house with, for example, your partner. Carry out some research first to make sure that you earn enough to meet the criteria for the mortgage amount you need. Finding out how much you are likely to be able to borrow, will deem what type of property you will sensibly be able to afford. This is a level-headed thing to do to shun the dissatisfaction of discovering you cannot in fact afford the dream home you have set your heart on!

4. Familiarise yourself with hidden costs

Do not be fooled into thinking that the lone cost involved in purchasing a house is the funds you have saved for the deposit. Unfortunately, there are plenty of additional expenses involved in the process of moving house counting stamp duty, legal fees, insurance costs, land registry fees, and removal fees. Familiarise yourself with these fees and make sure they have a position in your budget.

5. Do your research

Before you go forward and make an offer on a house, keep in mind the enormous commitment you are about to make so make sure you have completed your research into the property and the location in which you are buying. You can find out what to look for when viewing a property by visiting our blog post, 10 Things to look for when viewing a property. Don’t hurry into putting down a deposit on the first house you see, take the time to look at heaps of properties so that you find the one that’s right for you; if you are too busy with the kids, work or your jet set lifestyle, then find a good agent to do the leg work for you.

6. Question the sellers

What glitches are they conscious of that the house had previously – even if they’ve been fixed? An ice dam five years ago may have instigated water damage that has since been mended. But it’s good to know that the house may be prone to ice dams so you can take precautionary actions rather than find out the hard way. Learning the basement flooding was resolved by building up the landscaping in a specific area will stop you from leveling the ground there in future years. For more information on selling do’s and don’t, take a look at this…  (Click)

7. Ask for utility bills

You may admire the Cape Cod architectural elegance or the high ceilings and walls of glass in a contemporary home – but those winter heating and summer cooling bills may thrust your monthly expenditures past affordable. Ditto for the water bills you’ll pay to uphold an immaculate landscape.

8. Pay close attention to taxes

Don’t just ask what the seller’s most recent tax bill was; ask what numerous recent tax bills have been. In certain areas, houses are re-appraised and taxed at higher rates often. That fantastic deal and decent investment may not appear quite so outstanding if the property taxes rocket year after year. Again, look at newspaper archives or talk to your Realtor about the way taxes are used in this area. In certain cities, schools are considerably funded through property taxes – which means you can count on yours increasing frequently. For more information on buying do’s and don’t, take a look at this… (Click)

9. Use the right property finder

Gone are the days when looking into estate agents’ windows were the solitary way to see how much people were selling a house for.
There’s an overabundance of property search sites out there. Remember asking prices are frequently madly optimistic, presenting what the seller wishes for the property, not what they’ll get.

Property Property Property

Property Property Property lets you compare homes on the market, including pictures, asking prices, descriptions and floor plans. Go to the Property Property Property website and search for an area and click on a property for details or register for instant alerts.

10. Get home insurance quotes before buying

Always get home insurance quotes before you exchange contracts to guarantee appropriate cover’s obtainable. This might flag up problems, for example, if the property’s in a flood-risk area. Comparison website like confused.com offers a good way to get the best price on the market.

Don’t think you need use your mortgage provider’s cover. If you pay for buildings and/or contents insurance together with your mortgage, it’s frequently a dreadful price.
No one home insurer’s cheapest, so the key’s capturing as many quotes as possible.

 HAPPY HUNTING!!!

Helpful Tips for Waterproofing Your Basement to Keep it Safe and Dry

Once you’ve found your ideal home using Property Property Property‘s estate agent search tool and property alerts, you’ll want to keep it in tip top shape. Not only will a well-maintained home be more pleasant to live in; it’ll also retain its value much better, allowing you to command a higher sale price if you decide to move up the property ladder at a later date. Likewise, if you rent in London, avoiding any deductions from your deposit when you move out, is always welcomed. Read on for a discussion of the importance of waterproofing your basement, and instructions on how to achieve this goal.

One of the biggest concerns that many homeowners have is basement waterproofing. Because the basement of your home is below ground this makes it so much more susceptible to moisture and flooding. A wet basement can cause many problems, including the ruining any of your stored possessions, causing mould and mildew to grow, causing the foundations to crack and allow termites and rodents into the home and even cause electrical problems. A damp basement can encourage the growth of toxic black mould, which can be a serious health risk for your family. Also, having issues with a damp basement will significantly reduce the value of the home.

Basement waterproofing is the only way to prevent these issues from happening again. It takes a bit of time and effort to properly waterproof your basement, but once you do you will not have to worry about moisture and flooding. You can do basement waterproofing yourself or you can hire a professional to carry out the task for you. The most important thing is that it is done well and thoroughly, so that you will not have any problems in the future.

Here are some tips to keep in mind when you are basement waterproofing:

Where are the Leaks?

One of the most important things to do is find out where the leaks are coming from, so that you can stop them. First, look all around the outside of the house where the water in your basement seems to be coming from. Are there any areas where water has collected or the land slopes towards the house? Do you have an automatic sprinkler system or a gutter that is leaking? When you find the problem you can correct it.

Repairing Cracks

Many basement leaks are caused by cracks or holes in the wall or the floor and they will need to be repaired before you carry out your basement waterproofing. Small hairline cracks can be fixed with a regular waterproofing mix. Any cracks which are larger than an eighth of an inch will need to be cleaned out and patched before applying the waterproofing mix. There are special materials that you can purchase for making these small repairs. If the crack is very large, you might want to mix up a batch of mortar to fill in the hole. Simply mix together one part cement and two parts fine sand with a little bit of water.

Applying Basement Waterproofing Mix

Once you have filled and patched all of the holes and cracks in the wall, you will be ready to apply your waterproofing mix. First, you should use a spray bottle or a hose on a mist setting to coat the walls with a fine spray of water. They should be damp, but not dripping.

Next, you will need the basement waterproofing epoxy which is designed specifically for treatment basement walls and floors. Follow the instructions on the package for how to correctly apply it. In some cases you might have to remove the paint from the walls first before the waterproofing mixture will adhere. When you are applying the coating, start at the bottom of the wall and work upwards, as this is where the water pressure will be the greatest. Slowly brush the mixture all the way up to the top and then start again at the bottom to add more layers. Once the basement waterproofing mixture has dried, spray the area with a fine mist of water again to soak it and let it set overnight. Repeat the same for the second coat, as one coat will usually not correct the problem.

After all this, you will have fixed your leak and successfully waterproofed your basement. You can do this task yourself, or you can hire basement waterproofing experts to do the job for you. Waterproofing your basement is very important and it ensures that you will be kept safe from flooding, mildew and mould for many years.

A wet basement can cause a lot of problems, so here are some helpful basement waterproofing tips to keep in mind.