Moving is a demanding process in many ways. It’s a huge financial decision, especially for first-time buyers. Leaving an old home and finding a new one is also a massive emotional investment. Beyond that, the whole process can seem very convoluted and confusing.
This can mothball into a very stressful situation, but it doesn’t have to be this way. Turning up prepared for what you’re getting into will reduce the burden a great deal. Below are four tips for minimizing stress during the buying process. You’ll walk into the sale process feeling more confident and optimistic.
1) Enter in the Strongest Possible Position
Well before you actually plan to move you need to shore up your financial position, especially if you’re a first-time buyer or you’re looking to move up the ladder. Ensuring any debts are consolidated or taken care of and maintaining a good credit score are both musts, as is ensuring you have cash available for the downpayment and expenses in the early days.
These expenses can include any plans for redecorating or remodelling the property, but also unforeseen expenses and emergencies that only come to light after you move. Checking out a property thoroughly before buying is obviously vital, but you can’t always know what might happen in the first few months. Be ready to cover yourself in this situation.
This will help you be pre-approved for a mortgage. Sellers tend to be more likely to negotiate if you’re pre-approved, as it means the lender has made a statement of trust in you. If you’re selling a property as well, it pays to be mindful of whether a potential buyer is pre-approved. This also gives you a much better idea of what you can and can’t afford.
2) Talk to the Right People
Having trust in the people helping you to find a property is crucial to your peace of mind. Knowing that you’re working with a reputable agent who can offer expert advice on buying locally is a good first step. It’s a good tip to prepare a list of questions to ask the agent when you are viewing properties, as a good agent will always offer helpful answers instead of glossing over details.
Besides the agent, make contact with an experienced conveyancer who can help you through the technical side of the buying process. Ensuring that the people managing your journey have your best interests at heart is a surefire way to avoid sleepless nights and smooth your path to your new home.
3) Know What You Want
Rather than just turning up and seeing what’s there, make a checklist beforehand of what you really want from a home. If you’re buying with someone else, discuss this carefully between yourselves. This will really help narrow down the process of choosing between potential homes.
Consider the following:
- Proximity to work
- Local amenities
- Features of the house
- Room to expand
Also account for which factors would rule an otherwise fine property out, such as it being located on a main road.