Buying a property for the first time can be an overwhelming prospect, since there are so many things to take into consideration. Buying a place of your own should be an exciting event, but the stress associated with your purchase can make this a very difficult time indeed.
Here at Irwin, Kilculllen & Co Solicitors, we specialise in property law, and we can help you to navigate the purchase process with less stress. Relying on us to help you as a first time buyer will enable you to focus on the more fun tasks associated with moving house, leaving the paperwork to us! Read on for our top tips to make life easier as a first time buyer.
Tips For First Time Buyers
Property purchases are often long and drawn out, with several stressful complications involved. Here’s how to help the process to run smoothly when you’re buying a house for the first time:
• See as many properties as possible. Seeing as many properties as you can is the best way to work out exactly what you want and where you are prepared to compromise. Try to see all the properties in your desired area that are within your budget, even some that you do not think you will like, as it is a very useful way to find out what really matters to you.
• Arrange your mortgage early. Mortgages are often very complicated and can take months to arrange, so it’s a good idea to get started as soon as possible. Whether you go directly to a financial institution or through a financial adviser, you will need to collate several documents including wage slips, bank statements, proof of identity and information regarding any debts you hold.
• Sort out your insurances. You will need buildings insurance in order to complete your mortgage, and many lenders insist that the property is fully insured from the moment a sale is agreed and documents are exchanged. You should also consider contents insurance to cover your possessions for loss or damage, and look into life insurance policies that could enable your family to pay the mortgage if you were incapacitated or in the event of your death.
• Keep communications clear. There are many different parties concerned with the sale and purchase of property, especially if there is a long chain of buyers involved. You will need to liaise with your mortgage company or financial adviser, your estate agent and your solicitor regularly, and often on a daily basis as the time to complete the purchase approaches, so it is helpful if you can communicate with them well. It is especially important to choose a solicitor who is experienced in handling property transactions, so that you can trust him or her to protect your interests and reduce stress throughout the process.
Find Property Solicitors in Cork
If you are buying or selling property, you can discuss your situation with us at Irwin, Kilculllen & Co Solicitors. We specialise in property law and will work with you to ensure the very best outcomes. Simply contact us online or call us today on +021 4270934 to see how we can help.