In terms of big life updates, a move to a different county has to be up there.
I’ve been trying to find somewhere to rent for a while and so when a new place flashed up on Rightmove which was the right number of rooms in the perfect location at a good price I phoned, emailed and then phoned the estate agent again to get a viewing. The rental market is crazy right now; places are going so quickly at the moment that there isn’t time to hang about and umm and ahh about it. It’s very very different to the last time I rented, back in 2007!
I arranged a viewing and immediately put in my offer of interest as did others, and fortunately the landlady was happy with me. So, in mid-December, I’ll be getting the keys to my new digs and moving 70 miles across the country to start a new chapter of my life. Meanwhile, we will be selling our house and hopefully once it has sold I’ll be on the lookout for a new place to buy.
Things to consider before buying a new house
It’s been a long time since I last went looking for a house to buy, and things have changed significantly since then. Of course the biggest difference is that I now have two kids to consider, so need to make sure that any house I do buy is in a safe area, nice with good schools – both primary and secondary – as this is the one thing you can’t change about a house once you move.
Of course it has enough room for us all (while not being too big to maintain) but things like the internal decor etc aren’t as important as these can all be changed. If there is room to extend in the future then even better.
It’s good to come up with a list of deal breakers.
For example I know I need a driveway and there is no point looking at properties without. Others might be outdoor space, distance from roads etc. Reputable estate agents like Jacksons Estate Agents Hempstead should listen to what you say and offer you only properties to view that meet your requirements however some estate agents might try to show you houses without your ‘deal breaker’ requirements anyway hoping you fall madly in love with them but my advice is to stick to your guns or you may end up regretting it.
Other preferences, for example the style of property, the exact neighbourhood, aren’t so set in stone for me and I’m willing to be more flexible there.
The next step is to look at the budget.
This obviously depends on the deposit I have from the sale of my house, and my earnings. As a self-employed person this has to be evidenced through my tax returns but is much more straightforward for someone in permanent employment. For this reason I am looking at taking on a part time job when I’ve moved, with an aim to becoming more mortgageable.
Whether you go through a mortgage broker or a bank, a mortgage calculator is gives you an idea of what you’ll be paying each month and decide what is affordable for you. In my case, it probably means waiting until I’ve saved up a larger deposit, but it really depends what my current house sells for.
Get a mortgage in principal.
This means estate agents will take you seriously when you are looking; you might find no one calls you back until you have one. Going through a broker or using a comparison site like Compare the Market or Go Compare will find you the best deals.
The other thing I need to do in preparation is to up my credit score to improve my chances with lenders. It’s quite good, but not as great as it could be, as until the last few months I hadn’t had a credit card in my name in many years. I got a new credit card which does cashback, and I use it for day to day purchases and then pay it off in full each month to show that I can be trusted with credit. The most important thing is to not become reliant on it – I don’t want more debt added to my name!
It’s also good to consider your flexibility, be that taking on a longer mortgage, opting for a mortgage aimed for people of your particular career category, or temporary fixed periods such as a 2 or 5 year fixed mortgage. At the very least, you’ll have a better idea of what’s on offer.
Then it’s time to go house hunting!
Then, if you haven’t already, set up your Rightmove alerts – or if outside of the UK, use a search engine like eXp Realty – and get looking for somewhere to buy! I’ve had mine on for a while now, having been looking for rental properties and places to buy just in case… I would say make sure you check out the floor plans and the location map. If you find somewhere that interests you, you can even check Zoopla to see when a house last sold and how much it went for (and have a nose at house the decor has changed; I am obsessed with it!).
Fingers crossed next year I can offer tips on decorating a new place.
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