If you are a first-time buyer, you have probably been overwhelmed with essential information about mortgages, the sales process, legal services and contracts. There is so much to learn about, and you probably will never know it all before your new keys are in your hand. The trouble is, buying a house is not a quick and easy process. It takes months. That’s after you’ve probably viewed dozens of properties before finding the right one.
Once you have found your dream property, you have to go through the process of securing a mortgage to pay for it. Usually, we have spent a few years saving up 10 or 15 percent of the money, and the mortgage covers the rest. After all the banking crises of recent years, it is much harder to get a mortgage. You may need a guarantor such as a parent to confirm they will pay your mortgage off if you can’t. You also need to have been in your job for a year or more so the bank feels happy your role is secure. There are so many hurdles and obstacles just to get this far, and then when the bank finally says yes, there is reason to celebrate.
However, you are still a long way off from having the key to your new front door in your hand. The details of what you are buying are in question until someone with the right legal training has completed all the checks. Depending where you live and the circumstances of the sale, this may include land checks with the local authority, utility supplies, taxes and contracts. None of this will be completed quickly either. Having these checks made will also cost you more money. Most lenders will not lend you the money for these costs either.
Other factors that may affect the timing or completion of your house purchase is the vendor’s willingness to move on. They will likely set the date that suits them to move away. The trouble is, if you are renting your place, you need to give notice to the landlord. This is very difficult when you are going from a rented place to your first owned home. Because there are so many factors to consider that will affect the timing, see if your landlord is willing to consider a shorter notice period. If your landlord can’t help you with that, you may have to utilize a short terms storage solution, and find yourselves a place to sleep for a few nights. This too will cost you extra money.
The last of the major costs is the removal. If you search online, you will find http://www.thepromove.com and other removal specialists that can provide a lot of advice on what you are likely to need. They will require some notice about when you are moving, so this too can be affected by difficulties in completing your house purchase. If you are coming from rented accommodation that you have furnished, you will be unlikely to move out without professional help. Even if you rented a furnished place, you are likely to need professionals to come and help you shift all your things to the new house.
Moving house is a very stressful thing to do so be sure to utilize the help whenever you can. It may cost more money but may save you time and health. If you are not used to moving heavy items around all day, you can become very tired very quickly on moving day without any help. You may also be at high risk of injury. Strains and aches from the extra physical exertion may also force you to take extra time off work. Speak to your local removal company. Ask them how long it takes to move house. You may be quite surprised to hear that you will probably need to take some time off work.
As a first-time buyer, there is so much that you don’t know about the process of buying a house. If it was taught in school that would be incredibly helpful right now. The trouble is, getting hold of all the information is still so difficult. The actual moving part is usually left off all the pamphlets and websites you come across when you are searching for your mortgage. The moving part is probably the least thought about. The stress of bidding on a house, applying for a mortgage, and getting your finances straight is a lot. What happens after we get the keys is often neglected in our planning process.
If you have any vacation days left at work, ask your boss if you can take them with relatively short notice about the precise date. Because there are so many other people involved in the process of buying a house, a certain date for moving is impossible, until you have the keys in your hand. When you do finally have the keys, you are going to need a couple of days off work to get yourself out of your rented accommodation and into the new place. You will also need a day off to receive any furniture you have purchased, or to get the decorators, utilities, plumbers and anybody else you may need to come.
If you are moving with a family, you will also need to find somewhere for your kids to stay for a couple of nights. This allows you to pack up their rooms and move it all into the new house. Moving is such an enormous task. Even if you are only moving a few streets away, the time needed to coordinate everything is much longer than you think. Try making a list of everything that needs to be in the house before you can sleep there with the kids. You’ll need all the utilities on and checked. You will need beds in and made up. You will need ovens, hobs and pots and pans in place for a meal. You will also need their clothes and toiletries. Sometimes it is just easier to move everything in before the kids join you in their new home.