Take a look below at the stages of purchasing your property.
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Preparing to buy your first home can seem like a scary process, but we can support you throughout the process. The first tip is to get savings, placing money into an ISA or savings account each month can go a long way. Your credit score is a crucial factor when looking at mortgage eligibility. Your bank can help provide ways to improve your credit score and mortgage rates. DMW can recommend one of our partner mortgage advisors to help you understand your affordability and get onto the property ladder. One thing to investigate is a Help to Buy Scheme, which is exclusive to first-time buyers and can provide additional support to your purchase. At DMW we seek to make buying as simple and stress-free as possible.
It is important when buying a house to make sure you have the necessary funds in place when buying a property and completing this purchase. There are many costs that need to be considered when purchasing a property, and some you may not even realise until you are in the sales process. The UK Government announced in September 2022 that stamp duty has been cut. Therefore, no stamp duty will be paid on the first £250,000 for a property and for first-time buyers, the threshold will be £425,000. See some of the costs below:
We can help current and potential landlords when looking for an investment property. At DMW Property Services we know a thing or two about getting the most out of your property investment. If you are thinking about buying to rent properties in Nottinghamshire, these tips can help.
If you want to invest but don’t have enough to purchase a property outright, a buy-to-let mortgage could be the best option. We can get you in contact with our recommended mortgage advisors to provide you with more information to start your property portfolio. You also need to consider the right property and right location for you, ensuring you do plenty of research about the area and its local amenities. At DMW we appreciate how important your investment is and the key to selecting the right tenant. We can help find a tenant and carry out the necessary checks to give you peace of mind, and our lettings team can support and guide you through the entire process. Finally, to ensure this investment is worth it in the long term, therefore research the opportunities in capital growth and rental yield. If you’re struggling our expert team is always on hand to support you in any aspect of the property.
See our top tips for getting the most out of your property search.
It is always a good idea to get an idea of the area you want to potentially move to. Ensure you have done extensive research on the local area. Look at transport links and parking options at the property. Zoopla has useful tools for looking at local amenities like schools, train stations and broadband.
Next, you can begin booking in viewings. It is always good to visit the property at different times of the day. This will give you an idea of lighting, traffic noise and parking. Another useful tip is to try and talk to neighbours, who will give you an idea of the community in that area.
Feel free to ask questions. Your estate agent may not know everything on the day of the viewing, but we can often find out a lot to do with the property. We are here to help and want to ensure you are confident when putting in an offer.
When purchasing a property there are two forms of ownership. Freehold means that you own the building and the land.
As a leaseholder, you would have a contract (lease) with the freeholder, which sets legal rights and responsibilities, you will pay a maintenance fee and annual service charges. To carry out any major works on the property, they must obtain permission from the freeholder.
For more information on leasehold properties, feel free to contact us.