Rachel Spencer, senior sales negotiator at our Northfield Avenue branch has recently become a brand new homeowner. The experience has taught her a great deal about the buying process. Here she shares what she has learned.
As an estate agent working with solicitors and surveyors to get the sale through to completion (what we call “sales progression”), I never fully understood just how emotional the whole process really is until I went through it myself. It has really opened up my eyes to the emotions which are included in buying a property. My dad always said to me there’s three things in life that will be the biggest things I do:
1) Buy a property
2) Get married
3) Have a baby
Buying a property was one of the most nerve-wracking, yet exciting things I’ve ever done – definitely scarier than jumping out of a plane with a parachute on my back. (Editor’s note: Yes, you read that right – Rachel has done a charity skydive!) I think as an agent I am now a lot more emotionally invested in my buyers as I know how much of a struggle and stress it can be, but I am living proof that it is totally worth it!
How do you get started to get yourself on the property ladder like Rachel?
Save for a deposit
You’ll need to save at least 5% of the purchase price of the home you want to buy to get a mortgage. Try using an online percentage calculator to tell you how much you need to save. For example, if you wanted to buy a property for £210,000 you would need £10,500 as a deposit. The larger your deposit, the better mortgage deal you will be able to get.
Still not sure you can buy your own home?
Think about other options like the Help to Buy Scheme or shared ownership. Click the links below to get more info:
Are you ready to start looking for your first property or want free advice from an independent whole of market mortgage advisor? Give us a call on 020 8799 3371 or email us.