Before you can really start looking at properties you should have established an approximate budget that takes into account your current circumstances. In many cases you will need to allow for a few thousand pounds on top of the property value to accommodate for mortgage, surveyor and conveyancing fees.
Here are a number of considerations to take into account when establishing a budget:
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This will give you a roundabout figure that will help you choose your property. There are additional factors that will affect the total cost of your sale and these may be dependant on the property you choose and may include:
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Essential structural and cosmetic work. Does your budget allow for any additional expenses that you may need to incur to get the property to a livable condition?
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What is the age of the house? It is often necessary to carry out a detailed survey on older properties.
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You should also consider all the ongoing costs associated with the property such as heating efficiency, council tax, water supply (metered/fixed), landscaping costs etc.
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Above all you should be pragmatic and rational about how much you take on financially. It is easy to act on impulse when buying a new home, but stretching yourself can lead to significant problems later on.
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