Home truths — what do you really need to think about when buying a property?

When the decorations come down and the turkey leftovers are a distant memory, many people’s thoughts turn to new beginnings.

Resolutions often revolve around relatively small changes, such as exercising more and eating less.

For some though, 2018 has larger milestones in store, from career changes and weddings, to once-in-a-lifetime holidays, or even a new home.

We’ve been helping a growing number of people buy property right across Aberdeen and Aberdeenshire over the past 12 months, and expect that figure to steadily increase over the coming year.

With that in mind, whether you’re taking that first step on the property ladder, or downsizing to a smaller home, we’ve pulled together some top tips for buyers.

Do your homework

What do you want from your new home? Who’ll live there? What space do you need? What areas are you prepared to compromise on, and which ones are non-negotiable?

What facilities are there in the area? Is parking available? What are the nearby schools like, and is there easy access to public transport?

All these are important questions to answer right at the beginning to keep your search on track and help you draw up your property shortlist.

Get help early

Speaking to a solicitor at the start of your search, for the latest advice on the market as well as all aspects of the buying process, is crucial.

As part of that consultation, we’ll give you an idea of how much you’ll be likely to spend in fees, and of course how much you should be offering for a specific property.

You’ll also need to consider other costs you’ll come across such as removal fees and land and building transaction tax (LBTT), if applicable.

Sort your finances

Most people will need a mortgage to buy a property, so it’s important to meet with a financial advisor early on to talk through options, affordability, and find the best mortgage for you.

Importantly, make sure you get approval in principle for your mortgage and, if appropriate, sign any applications for life policies as soon as possible.

Search the market

Now that you’ve an idea of what you need from a property, what the market’s like, what you can afford, and have a solicitor ready to work on your behalf, it’s time to begin the search in earnest.

In the north east, portals like ASPC cover a huge swathe of the local market, and of course individual solicitors and estate agents like Ledingham Chalmers will showcase properties on their own websites, and on social media.

It’s important to read the home report before arranging a viewing, and go to the property armed with any questions you’d like answered.

If a home in particular catches your eye, it’s well worth arranging a second visit at another time to see if there are any significant changes in things such as traffic levels and noise that would affect your decision to buy.

Finalising the purchase

Once you’ve found a property you love, your solicitor will deal with aspects of the process on your behalf.

It can be complex, from noting an interest and making an offer to negotiating entry dates and checking appropriate planning permissions and building warrants are in place.

And of course, we offer up-to-the-minute advice on securing your ideal home for the best possible price.

So if a new home’s on the cards for you in 2018, contact our residential property experts who’ll be on hand to help with all aspects of the buying process — from your very first inquiry to picking up the keys.