First time buyer blues


For many people out there, the prospect of taking that first step into being fully fledged adults and buying your own home outright is an exciting and thrilling prospect and something that the majority of people always dream of doing, but not all actually get the opportunity to do. So in that respect, you should count yourself lucky that you are in a position to do so. However with the great excitement and feeling of satisfaction that comes with this process, there is also shedloads of hard work, difficult considerations and complicated financial and legal procedures that have to be satisfied throughout and more often than not you will be required to work with a number of professionals to provide their expertise on the matter.

But with everything else that you are considering in terms of the actual property, throwing everything else into the mix can turn what would appear to be a fairly straightforward buy/sell procedure into a complicated and confusing quagmire of legal implications and credit scores. However, hopefully, we can provide a few important pointers that could help you save time, money and effort when going through the motions.


When you’re looking for a property, the chances are that you will try to offload much of the complex negotiation and residential agreement drafting to an outside agent as possible in order to help you not only get the best possible price for the property but also to make sure that everything is in order and that all consideration the house is given as possible. And obviously, these people charge for their services so it’s important that they are clear about exactly how much of a bill their help will run up as you can often find that less scrupulous agents will attempt to disguise the full price of their service with small print “fees and charges”.

Generally speaking an agent should charge a flat rate of a certain percentage of the sale value of the house, whether this is paid by you or the seller is completely down to the individual agent, however, sometimes it is split between both of you. Do bear in mind that some areas real estate agents will charge more relative to how desirable the area they operate in is.


Obviously, the first thing that you will want to ask yourself is “how do we actually plan on paying for the property?”  Well unless you happen to have a large chunk of cash sitting in liquid assets in your account the chances are that you are going to need some kind of finance in order to be able to generate that kind of money. And when it comes to home finance you generally have two choices, either you can go for one of the larger, better known but ultimately less personal and flexible nationwide banks and lenders or you can try and find a slightly better deal with a locally based mortgage broker.

The advantages you have when using a mortgage broker over a larger bank or financial institution would be that because of their smaller comparative size and their assumed focus on their local market which would make up the majority of their business they are far better positioned to provide a more personal and holistic view of not just your finances but also the specific market conditions that are found in their area. Whereas bigger institutions are more focused on providing consistency to their customers who may be dotted around the country, what they offer their customers gauged at a standardized, nationwide level, which while being beneficial for some, is actually more expensive for others.



Generally speaking, the most important things you will want to focus on is not so much the physical house but the road you are paving in order to get to it. A lot of the time due to the complexity of the worlds of real estate and finance you are going to have to install a fairly large amount of trust in the people that you employ to help this go off without a hitch, so when it comes to agents and brokers, do your research and get the best possible overview of what is available to you in any given are and how an individual’s services would benefit you in your endeavor.

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