“People who build their own home tend to be very courageous. These people are curious about life. They’re thinking about what it means to live in a house, rather than just buying a commodity and making it work.” – Tom Kundig
Buying a home is one of the biggest moves you will ever make. But it doesn’t have to be as stressful as some will have you believe. By understanding the process and planning properly you can ensure you are in control every step of the way.
To successfully get from deciding to buy a home to collecting the keys to your new home, it takes planning and careful management of a step-by-step process that involves a number of different parties.
The following is a guide to the major steps that you will need to take if you are to realise your ambition of owning your own home.
Step 1: How much can I afford?
Before looking for a home, you need to work out how much you can afford to spend.
Step 2: Choosing your new home
There are many ways to search for your dream home. First, you need to decide roughly where you want to live and then see what is available in your price range. You can search on the internet, in the local newspaper, through local estate agents – or just by walking or driving around the area where you want to live.
Step 3: Sort out a solicitor
Once you have found the home you want to buy, you will need legal support. A solicitor or conveyancer will handle the legal side of buying your home.
Step 4: Arrange a mortgage
You’ve already worked out your budget. Now it is time to secure the best deal (every little percentage point counts!)
Step 5: Exchange contracts
Sign on the dotted line, and everyone is committed. From this point on you are legally bound to the purchase of your new home, and should be able to confirm a fixed completion date.
Step 6: Legal completion and handover
This is it! The day the monies transfer, and you get your keys
Step 7: Move in
At last – the moment you have been waiting for and the house becomes your home.