First time buyers guideTopics
From help with mortgage advice to how to make an offer on a property, all you need is GSPC!
Knowing where to start with your home buying journey can be difficult. But it doesn't need to be! Follow our top steps to buying a house to help make the whole process easier.
Top tips for first time buyers
A GSPC solicitor estate agent is immersed in the local property market, leaving them best placed to offer you advice on property prices and all the technical details of buying a home.
You will also need a solicitor to negotiate offers on your behalf in Scotland and to handle all the legal aspects of your purchase. Having your solicitor in place at the very start of your house hunt means that as soon as you’ve found a property that you like, you can instruct them to start negotiating a purchase on your behalf.
There are a lot of different costs involved in buying a home. Careful budgeting and consideration of all the different costs involved are really important. This helps to ensure that you will be able to afford the repayments on your mortgage.
Independent financial advice
Speak with an independent financial adviser who can help you to work out how much you can borrow, what your deposit would be and what other costs would be involved.
They can help you understand the different types of mortgages available and pick one that best suits you. Knowing how much you can borrow will let you know what price properties you can start looking at.
A little help to get you started
You may also want to consider some of the financial assistance schemes which are available to help get you on your way, such as Help to Buy or LIFT.
Property tax - how much will you pay?
Also bear in mind that you will have to pay Land and Buildings Transaction Tax (LBTT) on your new home. Use our handy calculcator to work out how much property tax you will need to pay. If you buy a home for less than £145,000 you won't have to pay any tax!
3. Start hunting with GSPC
Start searching on www.gspc.co.uk and sign up for free email alerts to be automatically told about new properties and price changes that meet your search requirements.
Visit one of our showroom in Glasgow city centre where our helpful staff can help with all aspects of buying. Make sure to read The GSPC Paper which is full of useful advice and available to pick up, for free, across Glasgow and the west coast of Scotland.
Get out viewing
With thousands of properties for sale, GSPC offers the best way to identify the properties that you’d like to view. Nothing beats actually standing in a room and working out if it is right for you. We can’t stress how important it is to go and view lots of homes for sale.
Once you’ve found somewhere that you really like, always go back for a second viewing. Try to be critical and if possible take someone along with you who is a bit more impartial. You should also look at the Home Report to check the condition of the property and the surveyors’ valuation.
5. Making an offer
When you’ve found the house you like, you need to speak to your GSPC solicitor. They can help you decide how much to offer based on market conditions, latest sales and information from the Home Report. Once you’ve settled on an amount, your solicitor will submit a formal offer.
After your offer has been accepted (it might take a bit of negotiating back and forth to get to this stage) you need to finalise your mortgage with your mortgage adviser and your solicitor will complete the legal elements of the purchase on your behalf. They will work to complete the missives and formally agree the terms of your property purchase and once this is all agreed you are legally obliged to pay for the property.
You can now look forward to moving day!