Finding your first home
Now the fun begins. Give yourself a good few months and really get stuck into the property hunt. The more properties you see the better, to give you a clearer idea of what you like and what you can get within your price range. Try not to get your heart set on one particular property, it is better to keep an open mind.
Location, location
As it's famously been said, the three most important considerations when buying a property are location, location, location. There are of course lots of other important factors to look at when buying your first home. But it does make sense to think about your ideal area before starting your property search, keeping your lifestyle in the front of your mind.
Drive or take a leisurely stroll and check out the area thoroughly. Is it up and coming? New bars, cafes, cinemas or shops opening nearby can be good signs. What are the transport links like and is it close to the local school or shopping centre?
Once you have decided on the areas you're interested in, take a look at www.upmystreet.com to find out more about the area. Why not take a look at Google Maps? You can find aerial photos of the location you're interested in.
Brand new homes
Lots of people prefer newly built homes. For all the obvious reasons of course, like the modern fittings and that feeling of having something that's totally new. It also means you'll have less work on your hands doing the place up.
You should make sure that the builder offers a recognised warranty scheme to put right the property if there are problems with it.
Buying off plan
This describes the situation when you purchase a property, whether a house or flat, before it has been built. Or in some cases, a long time before the building is even due to be completed.
The property is termed the "plot" as it has not yet been given a postal address. Builders or agent details should show you the plot number.
Freehold, or leasehold?
There are different ways of holding your property. Most houses are freehold properties, whereas flats are usually leasehold.
A Freehold gives you complete ownership of the land and the building on it. If you choose a freehold property, it's important to get all the necessary insurance. Look into buildings and contents insurance with Halifax.
A Leasehold means you own a property for a set number of years. When the lease expires, the property returns to the freeholder. If you do opt for a leasehold property, make sure your lease is as long as possible. Most lenders won't give your mortgage the nod if the lease expires in less than 60 years.
Halifax Mortgage Advisors
Whatever type of property you choose, at Halifax we have mortgage products that can help you make your move. Our Mortgage Advisors can provide details of all our available products so you can find one that's perfect for you. You can access this information online, or you can call our Mortgage Advisors on 08458 50 37 05. You can even ask for a call back at a time that's convenient to you. If you already know which mortgage you want and are ready to apply for it, you can do that online now. Contact our online Mortgage Advisors to start your mortgage application here.
Your home may be repossessed if you do not keep up repayments on your mortgage.