Choosing Your Property

Finding the right type of property is a personal decision that should be based on what you can and can't live without. For instance, many first time buyers can't afford a car and so prefer to live more centrally and make full use of public transport. If you don't have children then steer clear of locations made more expensive due to its proximity to good schools. Many first time buyer stretch their budget and have very little cash left over, buying a newer property with less maintenance can be a good idea, especially if you have little or no experience of DIY.

For buyers with a history of bad credit, it may mean a short period of compromise. The mortgage product offered will be at a slightly higher rate of interest and so the property may not be the home of your dreams. However, the chances are your property will appreciate and with carefull management of your finances and adhereing to all your repayment terms will result in greater freedom in the future and an opportunity to move up the ladder with a better chance of a more competitive product. A property which is easy to sell and has no maintanace issues may be a safer bet.

When you decide to begin viewing, always remember that no matter how nice the vendors seem, they are selling to you. You should approach the buying process with one eye on your budget and the other on reality. The furniture you admire will have gone but the damp patches will remain. Vendors often dress their homes in a way that alludes to a life style. You will be taking your own life style with you and not be adopting theirs. It is right that vendors make their home as attractive as possible, as long as you differentiate between what is real bricks and mortar and what is window dressing.

View properties within £5000 of your budget as you can always negotiate, but wasting time viewing properties beyond your budget will annoy the vendor and ruin your relationship with estate agents who don't like time wasters, they are working for the vendor and not you.

If you find a property you like, make sure you view it more than once and at different times of the day. Visit the location during the evening if you are worried about noise from local establishments such as pubs or restaurants. As a first time buyer, the chances are that you will move in a relatively short time span. Consider the possibility of resale. Perhaps there is limited or no parking, close proximity to pylons a mobile phone aerial or an unconventional layout, chances are you will move on and buying to resell is just as important.