Things to Look for in your First Property Purchase

With the Help to Buy deadline on the horizon, and many first-time buyers as eager as ever to make their first property purchase, today we’re bringing our list of things to look for in your first home. Whether you’re on the hunt for a New Build or a residential resale property, here’s what you should keep in mind before making an offer on your first home:

A Blank Canvas, or a 20’s oil painting?

Firstly, you must decide which kind of property you’re searching for: a sparkling new development, or an older resale property.

You could look for a New Build starter home that has new appliances that will stand the test of time. This is a large reason why many first-time buyers purchase New Build homes that will not require updating for many years to come. What’s more, New Homes have more affiliated schemes to help you get on the property ladder, such as Help To Buy equity loans, which make your first property purchase much more affordable.

In all likelihood, your first home will be something you’ve saved up for, and every penny counts – to avoid any additional costs piling up, look for a property with a neutral interior. This way, you can begin to add your own flourishes as time goes by and as money becomes available, rather than embarking on a hefty upheaval of your property’s outdated décor. Resale properties – especially those with listed status – are more likely to have unique features that can add character to your property and make a house feel like a home, however this can also mean more expense and more limitations when it comes to modernising or making changes to your home.

If you have your heart set on purchasing a resale property, be sure to ask the selling agent about surveys prior to completion, as older properties may require extra attention when it comes to damp, structural integrity and drainage issues, which can lead to unexpected costs. If you do decide to choose a property that requires significant renovation and may not be habitable to begin with, make sure you have a plan in place for how you will pay for the required work and where you will live whilst the work is being carried out.

Location, Location, Location

Find a property that is well connected so that as your life evolves, your home is always within easy reach. If you are considering starting a family, look into local nurseries and school catchment areas, as well as considering any busy roads that are close by that could be hazardous for young children. If you have a dog or wish to get one in the near future, consider nearby walking routes and parks. If you suspect you will be changing jobs soon, research nearby commuting routes and any transport links that are in the pipeline, and if you’re looking for a lively or community-led lifestyle you may want to make sure that your property is centrally located, close to any local amenities. What’s more, consider looking into neighbourhoods that are experiencing growth and investment so that, if you decide to sell, you will make a return on your investment.

The Race for Space

In order to future-proof your first property purchase, and make your home viable for years to come, it’s crucial that you consider every eventuality. Whether you’re considering starting a family, creating a home office, or simply expanding your storage – there’s always a way to utilise spare space. That’s why we advise contemplating what your life will be like in 3, 5 and 10 years time, and how this could impact your need for space. Another idea worth considering is the possibility of extending your property, this may mean extending into some of the outdoor space, a first-floor extension over a garage or single-storey part of the property, or even upwards into the loft space. Extending your property can add both value and longevity to your home, so it’s worth asking your selling agent if planning permission is feasible.

The Perfect Pairing

Lastly, recruit the help of selling agents, solicitors and conveyancers that have an abundance of knowledge and experience to help you through the process. Your purchasing process will be substantially easier, and perhaps much faster, if you have a team of expert connections on hand to guide you. Centrick is proud to be an award-winning agency that is trusted by developers and vendors alike, allowing us to find the best homes for first-time buyers. We are also able to recommend a list of trusted solicitors and conveyancers that we have experience working alongside, allowing you to expedite the sales process and get settled in quickly.

Whether you have your heart set on a New Build, or a characterful resale home to make your own, Centrick is here to help with your first property purchase. With decades of experience, our team of experts will be able to guide you towards securing your first home with ease. Get in touch with us today: