What I Wish I Knew Before Buying a House | First-Time Homebuyer

[@hedwigwendell-crumb91]

As a first time buyer and then a first time seller and second time buyer, I found the communication between buyers, sellers, banks and solicitors to be inadequate. There really needs to be a better, more transparent method of buying and selling property.

[@Tridhos]

I have returned from abroad and now wish to buy an apartment in the Cardiff area. What amazes me is that we still have this stupid leasehold system in place whereas Scotland appear to have resolved this long ago. In fact my apartment abroad was in a block of apartments which were common hold with the owners committee appointing a management company to run things but all the major decisions were in the hands of the apartment holders who formed a committee. There is absolutely no requirement for leasehold other than an excuse for the people who have allowed a building to be built on land they own wanting to keep ownership so that it can continue to generate revenue often for services that are never provided or if they are at inflated cost. I was also impressed by the situation in France where the buyer and seller use the same lawyer so that instead of an unnecessary confrontational transaction the lawyer acts to make sure that all the legal requirements have been met for both parties. The situation in England and Wales is really not fit for purpose.

[@MattTiyana]

Me and my partner are buying out FIRST home this year. Everythings been delayed due to COVID-19 as we are waiting to see what the market does....In this time we decided to start a KZbin channel to document the whole process. Lets see what happens. Im excited either way!

[@dhg9874]

Excellent as always! Great advice. Always remember, estate agents work for the vendor, not you. Another piece of advice if you are a first time buyer and new to everything it’s a good idea to use the financial advisor that works with the estate agent of the vendor, speeds things up and less chance of head clashing.

[@MoveiQ]

Thanks for your feedback ... using a mortgage advisor linked to an agent can be a good idea for some be its not an essential requirement as some estate agents can make you believe. You can choose your own adviser and should do based on your needs and who you think will work best for you. Having a good solicitor is also essential.

[@lovefromdrey]

Move iQ totally agree my financial adviser told me that the mortgage adviser from the estate agents will try to push the maximum amount since they know your income.

[@MoveiQ]

@@lovefromdrey Sadly yes that can be the case. A buyer DOES NOT have to use an adviser that is part of or linked in any way to the estate agent and no decent estate agent would or should tell you otherwise! Unfortunately, some do so be aware!

[@lovefromdrey]

Move iQ funny enough I’ve had quite a lot suggesting that I should get a double opinion on a mortgage from their mortgage broker.

[@MoveiQ]

@@lovefromdrey That's not the case! Have a read of Phil's recent blog were he addresses this very point: www.moveiq.co.uk/blog/news/property-viewing-covid-19/

[@mercyln6646]

Sounds very daunting! Are there Estate agents that work for the buyers then?

[@MoveiQ]

Estate agents in the UK work for sellers only. Buyers are largely unrepresented and have to fend for themselves which is why we created Move iQ, to provide advice and guidance. You can get a representative as a buyer but for a fee.

[@delboytrotter77]

First time buyers - please dont waste the time of sellers by thinking you can get the Ritz when you are on an Oliver Twist budget. Be realistic. Look at the sizes of other properties online first. Get the measurements so you can see the comparisons on paper. If the seller has a garden and a driveway, then bite their hands off. Do your research of the area first!

[@MoveiQ]

Thanks for sharing this.

[@paguliukas]

Can make video about epc ratings

[@MoveiQ]

We have one here: kzbin.info/www/bejne/gIjVmqefgM-Hpq8

[@laurambai5998]

I was thinking 3 bed for £250,000 ...unheard of. Then I realised she bought in Norwich. Try this in London 🤣