People like to believe that purchasing a home is one of the most demanding things you will do in your entire life, especially those who are undertaking this task for the first time. But it should not have to be that way – let us help! Here is a lowdown on the process. KNOW YOUR BUDGET To get an idea of what you can manage to pay, engage with a mortgage adviser. This includes enabling a bank, mortgage broker or building society with your financial particulars so they can chalk out how much can be lent to you based on your economic circumstances. You will usually be required to pay a 10% deposit, in addition to a mortgage, which can maximally consist of 4.5x your monthly income or mutual salaries if purchasing is done with another person. FINDING THE FIRST HOME Engage the local estate agents, who will have an insight into the market and can arrange an array of viewings in a particular area so you can compare various offers. If someone is purchasing in a relatively unacquainted area, what can help is visiting the property at various times of day along with engaging the locals in acquiring a better understanding as to what the surroundings are like. BEFORE PUTTING IN AN OFFER One-bedroom apartments are available in all sizes and shapes, so chalk out the price/square feet and utilise this to relate with other properties to ensure you’re getting the best available value for your circumstances. Additionally, observe the latest selling prices in the locality you want to purchase on Land Registry to confirm whether you are making the appropriate payment. A lot of factors will have an influence on the price, from the location of the property to the overall outdoor space. MAKING AN OFFER Negotiate for a price that seems to be fair to you is always a good idea. This may equate to the asking price or a little below or above. Keep in mind that both the buyer and the seller can back out, right up until the contracts are exchanged, therefore to reduce the risk of being manipulated, you should ask for the property to be taken off from the market. This involves eliminating the details of the property from all the websites that it had been listed on.