What to Expect as a First-Time Buyer
Posted on June 19th, 2023Buying your first home is incredibly exciting, but it can also be a daunting experience. There are so many things to consider as you make the leap into homeownership. With the right knowledge and guidance, you can make the process smoother and less stressful. That’s why we’ve created the ultimate guide for first-time homebuyers, packed with everything you need to know before buying your first home.
Work out what you can afford
Before you even begin searching for your first home, you’ll need to work out your budget and what you can realistically afford for both your deposit and monthly payments.
As a first-time buyer you’ll typically need to put down a deposit of at least 5-10% of the price of the property you want to buy. You could use a mortgage calculator to get a rough idea of how much you could borrow and what the monthly payments might be, but it’s always a good idea to check your credit score and speak to a professional to receive accurate advice. Buying a home is a big financial investment, so it’s important to ensure you’ve got all the information you need and a clear understanding of what you can afford.
Here at Seddon Homes, we’re proud to provide an amazing range of offers and schemes to help you move into your dream home including a Deposit Builder scheme and 100% mortgages for those who are tired of renting and are ready to leap into homeownership.
- Our Deposit Builder scheme is available to first-time buyers who don’t quite have the required minimum deposit and set up fees needed for buying a new Seddon Home. This allows you to secure the Seddon Homes home of your choice, whilst still saving for your deposit while your home is being built.
- The 100% mortgage is a fantastic scheme available for first-time buyers who have been renting for at least 12 months with a proven track record of monthly payments. It’s a type of mortgage where you can borrow the full amount of the price of a home without having to put down a deposit*.
Work out the additional fees
There are additional costs to consider that go beyond your deposit and mortgage payments, including home insurance, conveyancing fees and the costs associated with moving.
Conveyancing fees are those that are paid to ensure that the legal handling of your purchase is done correctly. The process can be complicated, beginning when an offer is accepted on a property and ending when the final contracts are complete. This is why we’re pleased to introduce our SelectSolicitor scheme to support the conveyancing process.
The professional service is available at a competitive price. A Seddon Homes preferred solicitor will work on your behalf to ensure that your transaction runs smoothly and promptly, providing you with peace of mind and enabling you to concentrate on the excitement of moving into your dream Seddon Homes home.
Consider different house types
When you know what you can afford, you’ll be able to look into the types of properties available for buying. Consider what’s important to you for your dream Seddon Homes home and your long-term needs – how many bedrooms and bathrooms are you looking for? Do you want a drive or an integral garage? Knowing what you’re looking for will be a big help when it comes to viewing Show Homes and deciding if it meets your criteria.
We have a stunning range of properties available across our fabulous developments. Whether you’re looking for the perfect 2-bedroom home or a fabulous 5-bed – there’s something for everyone. Check out our portfolio of just a few of the property types up for grabs.
Look into locations
Once you know what kind of home you’re looking for you can start looking into the perfect location. Location is one of the most important factors in buying a property and there are different areas to consider during your research such as:
- Schools
- Access to amenities
- Transport links
- Local events
- The neighbourhood and local community
Here at Seddon Homes, we’re pleased to have new homes for sale across a number of fantastic developments in Cheshire, Greater Manchester, Lancashire, Merseyside and Staffordshire.
Start planning for your move
So what happens once you’ve found your dream Seddon Homes home and you’re officially a first-time homeowner?
There’s still a few things you need to keep in mind for the start of this new chapter. From picking up the keys, budgeting and getting organised, it’s never too early to start planning for your move which is why we’ve put together some top tips to help you during your moving experience.
Start your Seddon Homes journey today
Here at Seddon Homes, we want to make sure that as a first-time buyer, you are fully informed and your experience is as smooth as possible. So if you’re ready to take the jump into homeownership and you’d like some more information about our properties, take a look at our range of stunning developments here.
To find out how we can help you purchase your dream Seddon Homes home, get in touch today or fill out our simple enquiry form.
*T&Cs apply.
Blog page Older Posts Newer Posts
