Are you wanting to get on the property ladder? Often, advice on buying a home is aimed at couples but if you’re wanting to buy on your own this article could be for you! Firstly, congrats on embarking on this journey, buying a house is a massive achievement, particularly if you’re doing so on your own.
Here are some top tips on where to get started when buying solo:
Unfortunately, when buying a home there is lots of associated admin before, during, and after the purchase itself. This can become overwhelming, particularly when all responsibility falls to you. It is wise to get ahead of admin where possible to save yourself from some of the stress further down the line.
Before any viewings, speak with a mortgage advisor and get a mortgage in principle in place so that you have a clear idea of how much you can borrow and are in a strong position to make an offer. Speaking with a professional will mean you are sure to receive accurate and helpful information on single-person mortgages. They may also be able to advise on whether there are any current schemes in place for helping people buying alone get onto the property ladder; it is also well worth researching this yourself too.
It is also wise to do some research into what documents solicitors are going to require once you have offered and been accepted for a property, as some of these things you can begin compiling now. These are likely to include various forms of identification, as well as evidence of where your deposit has come from.
Viewing houses can be an intimidating prospect, especially if you are new to all things property. However, it can and should be something really enjoyable if you are well-prepared. If it makes you feel more comfortable, take someone else along to viewings with you, but be sure to not let their personal preferences interfere with your own opinions. It is always useful to take someone along who knows about property or has experienced buying a home.
Before the viewing, make sure to compile a list of questions you would like to ask about the property, this way you will be sure to not miss anything.
When buying a house alone it is really important to manage your expectations and be realistic. This isn’t to say that you can’t buy the property of your dreams but being realistic about what you can afford and the level of effort you are able to commit to a property will stand you in good stead. It could be good to explore new build homes as these are ready to move into straight away and require little to no work. This isn’t a reflection of your abilities but more a reflection on how much time you want to spend doing up a home vs. moving straight into a house.