How to avoid wasting money when buying a new home

How to avoid wasting money when buying a new home

  29 Aug 2019

When you are looking at buying a new home you are sure to have a list of questions you want answered. However, there are a number of things you should do before jumping on the property ladder to avoid wasting money and time. Taking that first step and buying a new home can be difficult, especially if you’ve never done it before. Putting aside the price of the property and the other potential buyers vying for your dream house, there are a lot of technicalities you may be worried about when obtaining a home.

Before you can buy a new home there are a number of different things you have to have in place. Having a great estate agent and viewing a number of homes will help you to make a solid start on finding a property as well as ensuring you don’t miss out on any vital information. According to the UK Land Registry, the average price for a new home as of May 2019 was £229,431 which is why it’s so important to avoid wasting money by putting these things in place.


Get a solicitor

Having a solicitor means you can make better decisions when you may not be as clued up on mortgage law. Put all of the legal work into expert hands like a solicitor as buying a home is a huge financial commitment, probably the largest you will ever make, so making sure everything is completely legally watertight can help you to avoid wasting money.

Get a survey done

Alongside having legal help when buying a home, it’s important to get a survey done on any potential property you are thinking of buying. With a home buyers survey London residents can avoid wasting any money on unstable structures. A surveyor such as https://www.samconveyancing.co.uk/Homebuyers-Survey/Home-Buyers-Survey-London will take an in-depth look at the property and find out if there are any problems with the structure such as subsidence and unstable walls.

There are a number of different surveys you can have, ranging from the basic valuation to the more thorough Homebuyers Report. For full peace of mind, invest in a full structural survey.

By putting these two things in place you can avoid wasting huge amounts of money when purchasing a new home.