The 4 Mistakes First-Time Buyers Must Avoid

Searching for your dream home can be an exciting time for first-time buyers, as you’ll be taking your first step onto the property ladder.

However, rather than rushing into buying a home, you must aim to make an informed choice when investing in property. After all, it’s one of the most significant financial commitments you will ever make.

To ensure you don’t put a foot wrong when entering the property market, here are the four mistakes all first-time buyers must avoid.

  1. Failing to Research a Property

As you will be eager to receive the keys to your first home, you might be attempted to make a seller an offer on the spot. However, it’s essential to thoroughly research both a property and the neighbourhood before you make the financial commitment.

For example, learn more about the building’s history and compare the property to other houses or flats in the same area. Plus, if properties are selling at a slower rate in the area, it’s more likely a seller will accept a lower offer than the asking price to secure the sale. By doing so, you will buy the best property at a value for money price.

  1. Not Using an Estate Agent

It is common for some property hunters to overlook estate agents when searching for their desired home. However, as they will have extensive knowledge of the local property market and the best areas for your budget, they could help you to find the perfect property before it’s snapped up by another buyer. So, if you want to discover the most beautiful houses or apartments in London, reach out to experts in that area that can help you out. You can find estate agents in Hackney, for example, if you are within the London area, who can provide the expertise you need.

  1. Asking Too Few Questions

As you will be new to the property market, you might be unsure about the best questions to ask about a house or flat. However, the answers could help you to make an informed decision and potentially negotiate a better deal.

Good questions to ask about a property can include:

  • How long has a seller been trying to sell the house/apartment?
  • How long have they lived at the property?
  • Why are they moving?
  • What date are they hoping to move?

For example, if a seller is hoping to move in a matter of months, they might be willing to accept a smaller offer to sell the home at a fast rate.

  1. Skipping a Property Survey

As money might be tight when saving for your first home, you might be tempted to skip a property survey. However, this is a rookie mistake you must avoid. While a property’s interior and exterior might look great, it could be riddled with various structural issues, such as:

A survey can prevent you from investing in a property nightmare, as the house or apartment could be plagued with expensive issues once you move in. Don’t take the risk and organise a house survey to avoid any unwanted surprises in the future.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More
Rightmove logo
Breaking News

Highest demand to lease office space since pre-pandemic

The latest insights from the UK’s number one commercial property website Rightmove, reveals that the number of unique enquiries to lease office space is at its highest point since pre-pandemic, as businesses look for spaces that meet modern requirements. Demand to lease office space is 19% higher than the same period a year ago and…
Read More
Planning disputes on new build land
Estate Agent Talk

Planning consultations for major infrastructure to be streamlined

Robert Bruce, a planning and infrastructure partner at law firm Freeths LLP, said he: “Welcomed the change as a significant step to speeding up the DCO process and the focus on the quality and effectiveness of the consultation, rather than box ticking and a risk averse approach to pre-application consultation due to the current legal…
Read More
Breaking News

‘The property ladder pulls further away’ warns Open Property Group

For many first-time buyers across England, the dream of homeownership continues to slip further out of reach. Despite rising wages, soaring house prices are making it harder than ever to get on the property ladder. A leading UK professional house buying company ‘Open Property Group’ based in Buckinghamshire UK, has raised concerns over the ongoing…
Read More
Estate Agent Talk

How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase

Wondering how long it takes to buy a house in the UK? The average timeline ranges from 8 to 22 weeks, but even that can stretch significantly due to unexpected delays, especially if you’re a first-time buyer or caught in a chain. That’s why working with experienced professionals like Belvoir — one of the UK’s…
Read More
Love or Hate Rightmove
Breaking News

Rightmove to host Renters’ Rights Bill webinar with Guild of Lettings

Rightmove is hosting a live and interactive webinar session with the Guild of Lettings to help agents get Renters’ Rights Ready. The webinar will take place from 10:00am – 11:00am on Wednesday 23rd April. Susie Crolla, Managing Director for the Guild of Lettings, will be joining Rightmove to help agents with questions they may have about…
Read More