Buying your own home is one of the most exciting and best things you can do for yourself. But, of course, it’s not as easy as it sounds. At first it seem a daunting and risky thing to do – but with the help of agents, lawyers, family and friends, it is worth it. Research and preparation is everything. With that you’ll have not only a place of your own but an asset that could support you for the rest of your life.
Some Key Benefits to Owning Your own Home:
- You’re creating a financial asset that, depending on where you buy, is likely to increase in value
- With a mortgage, you’ll be paying yourself for accommodation, not someone else
- Relative security regarding increases
- Freedom to decorate, subject to planning conditions
- Opportunities to make money short term by renting out space, also subject to conditions
How to Find and Buy Your Perfect Home – the Course
At DU we’re putting together a course that teaches you how to prepare and get the best property for you. The legalities of buying a home vary from country to country. But the process is similar. The internet is full of good advice and local resources for lawyers, handymen, agents and much more. The legalities of buying a home vary from country to country. But the process is similar.
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The Smart Negotiator – How to handle Lawyers, Realtors and Estate Agents
The course will help you become a smart property finder. And you’ll learn how to become a keen observer and negotiator – the things your lawyers, agent and financial advisers don’t always do for you. As we enter a new post Covid-19 era, owning a home is as important as ever. We now know what it’s like staying in for hours, days and weeks on end – how important it is to have somewhere nice and suitable to stay and live.
And how key it is to have an investment like a property. But getting on the property ladder has rarely been a challenging as it is today. Yet, the markets are keen to catch up and many lenders are thinking creatively how to help first time buyers. Some deals are government sponsored and banks and other lenders are coming up with part ownership arrangements and other schemes to help millennials get a foot in the door.
Common Problems when Buying a Home
What are some of the difficulties when buying your first home? We aspire and look for what we believe is our perfect apartment or flat or house. We idealise certain areas – either because of who else lives there, what shops and restaurants are based there or the look and feel of the area.
Without unlimited funds, managing our own expectations will be one of the most painful parts in the process of buying – but it can also help us avoid buying something which later turns out to be unsuitable. Where is your dream area? Where is a sensible area? Where is affordable? Where would be a good investment? How far is it from work and friends and family? Deciding where to buy and live is both exciting and difficult.
Become a Good Negotiator and Land the Best Property
In the DU Guide to First Time Buyers – How to Find and Buy Your Perfect Home – we’ll help you stay in control of the buying process. Estate agents represent the sellers – at this stage of the buying proces you are on your own.
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Here are some of our top tips for zooming in on an area:
Some questions to ask your Estate Agent:
- Follow the train track: What stations do you use most often?
- Identify the train lines from there – where do they lead to?
- Note all the stops on those lines
- Search properties within a 2-mile radius
- You’ll discover areas you may not even have heard of
- A home in any of those places, near the stations, will be very convenient
- How many viewing have there been so far?
- How has the area changed in the last few years?
- How long has the property you’re viewing been on the market?
- Any offers yet?
- If a previous sale fell through, why?
- Why is the seller selling?
It’s easy to get carried away by the excitement of the process. But amazing as it is to get your hands on a gorgeous new flat or house, be your own devil’s advocate to avoid problems down the line. The DU property buying course will help you navigate the buying and selling process – a skill that will help you buy smart. To learn how to navigate the buying process and help you get the home that is perfect for you email us to get on the waiting list – see our contacts page.
Happy house hunting!