There’s so much more to moving out than just upping roots and buying a home. In fact, the process can sometimes be slow, meticulous, and confusing. One thing you should be wary of is knowing when is the right time to buy a home. In this edition, we’re answering questions all around that nugget of knowledge.
Very interesting question to kick us off Theo, thank you for getting in touch!
Whilst there’s no bonafide month that guarantees you the best deal, generally speaking the best time to buy is late summer and early autumn. During this time there’s a plethora of homes available on the market, but less buyers on the scene, meaning you could snatch a really lucrative deal, without the competition!
Likewise, sellers are often more inclined to drop their asking price as the school year approaches, because families usually want a clean slate moving into the new term. So, this really is the right time to buy!
Generally, the worst time to buy is at the break of summer (June in particular) as the market is flooded with buyers and people seeing their new home in the beautiful sunshine leans people towards purchasing quickly. Another interesting point, thank you Morgan!
Firstly, you will absolutely need a solicitor when buying your first home. Just like how you can’t be a first time buyer with no deposit, you can’t be a first time buyer without a solicitor.
They do all the conveyancing and local searches to ensure your potential property is suitable and appropriate for living. Typically they charge between £800 and £1,500 depending on both property and location – trust me though, it’s money well spent! Finding the most effective energy deal available for your area can be a tricky task, so being diligent and searching hard is vital. You’re going to get bored of sifting through price comparison sites, but it will be massively worth it in the long run!
Whilst were there to make sure you can afford the cost of living in your new home, we unfortunately don’t have the facility to help with energy brokerage and such at this time.
I’d recommend doing what I did for my first home, which is to read this brilliantly crafted guide from Which.com – it really should be something on your first time buyer checklist! Knowing exactly when to buy is a real challenge.
I can certainly advise on all things cost-wise, but ultimately only you can know exactly when the time is right.
Is it your dream home? Is it the correct location? Are you overpaying?
I’d recommend having a sit down with someone close to you, and thrash out these answers to get a clear picture of what you need, then give us a call, and we’ll be happy to set you up for your first time buyer mortgage!
Until next time, feel free to check out the rest of our series here. Take care!