Here are the 7 most important things every first time home buyer should know according to Sheffield estate agents

Buying a home for the first time is an exciting step – but it can also be a daunting process.
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From securing a mortgage and viewing properties to dealing with solicitors, there are many stages of the journey from seeing a place to getting the keys that can be confusing and complicated for the unfamiliar.

Jessica Athorn, south west Sheffield property consultant for city estate agent Redbrik, shares seven tips every first time buyer should know below.

Have the right deposit size

First time buyers looking at property adverts in an estate agent's window. Picture: JPIMedia.First time buyers looking at property adverts in an estate agent's window. Picture: JPIMedia.
First time buyers looking at property adverts in an estate agent's window. Picture: JPIMedia.
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“I think a lot of first time buyers assume they can get away with a 10 per cent deposit but it's not always that straightforward. Very often it works out best to do a 15 per cent deposit as they can get a much better interest rate. They'll very often start viewing properties without realising how much they can actually afford. Often it does work out in their favour and they can end up borrowing more than they think, but speaking to an independent financial adviser makes all the difference. We work closely with Connect Financial Solutions, they're really good at helping first time buyers who really don't know where to start. I've used them – as a client, you don't pay them.”

See lots of properties in real life

“They best thing they can do is physically view as many properties as they can in person. Not all estate agents, unfortunately, take pictures accurately, and sometimes even if they are trying to be really accurate with the photographs and description you can't tell just from looking online. It also helps them narrow down their priorities. We often find a first time buyer will come to us on their first viewing and say it's really important they have a nice garden – and then after they've done ten or 20 viewings they realise the living space is more important because that's where they're going to spend their time throughout the year, not just in the summer.”

Don’t overspend

Jessica Athorn advises first time buyers to physically view as many properties as they can in person. Picture: Getty ImagesJessica Athorn advises first time buyers to physically view as many properties as they can in person. Picture: Getty Images
Jessica Athorn advises first time buyers to physically view as many properties as they can in person. Picture: Getty Images

"At the moment in Sheffield most properties are selling for above the asking price. If you know, for example, your absolute top limit is £150,000, and you're viewing properties that are on for that much, very often you're going to get people offering over the asking price. When they're first booking viewings, if they let the agent know how much they can actually afford, and how rigid their budget is, they can be guided from there. They've got to stay within a comfortable zone. Very often they'll move in and six months later something like the boiler could break down, or they realise they need the driveway re-tarmacking. If they're spending all their money every month on the mortgage payments, they've got nothing left to do anything to the property with, or even go on nice holidays and things like that. Be careful not to overspend on a property just because there's competition.”

View properties at different times – and ask questions

“It's always useful to know things like how old the boiler is, whether the electrics have been checked recently and whether there are any structural issues. It's also a good idea to do multiple viewings, and try to do them at different times of the week. If you're doing all your viewings in the middle of the day on a Wednesday, in normal circumstances nobody would be at home so you'd have no idea if the road has hundreds of cars parked on it. Do a weekday and a weekend if you can, and maybe an evening. That can give you a good insight as to what your neighbours are going to be like. They need to not be afraid of asking questions.”

Have proof of funds when agreeing an offer – then get a recommended solicitor

Buyers should get a quote before asking for money off the sale price if a survey indicates work is needed on a property. Image: PixabayBuyers should get a quote before asking for money off the sale price if a survey indicates work is needed on a property. Image: Pixabay
Buyers should get a quote before asking for money off the sale price if a survey indicates work is needed on a property. Image: Pixabay
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“They need to make sure they've got themselves a mortgage agreement in principle, if they are using a mortgage, so they will be able to prove their funds, and then from there it's about negotiating on the offer. If the owners are willing to accept that, then they need to be instructing a solicitor. The best way to find a good solicitor is to get a recommendation from somebody, it's not necessarily the most expensive one.”

Don’t panic about the survey

“On older properties, you'd pretty much always get a survey done. If you're using a mortgage, your lender is probably going to send their own surveyor round anyway to make sure they're happy to lend the money. There will never be a report that comes back 100 per cent clear. The main thing they need to do is really take the time to read through the report, and make a list of what they're most concerned about. If they're concerned about slipped tiles on the roof, from there they could look at getting a quote from a local roofer. If it's going to cost them an extra £5,000 to do the repairs, then they can go with that information back to the agent and see if there's any room to renegotiate on the sale. They need as much information behind them as possible. You can't just get your survey report, pick up the phone and start asking for a reduction straight away.”

Be patient on completion day

Jessica Athorn of Redbrik. Picture: Redbrik.Jessica Athorn of Redbrik. Picture: Redbrik.
Jessica Athorn of Redbrik. Picture: Redbrik.

“It's rare that anything goes wrong on completion day. Everybody wants to know what time they're going to complete but unfortunately solicitors just don't know. It can be any time between 9am and 5pm and sometimes people are sitting there waiting until five o'clock. Just be patient and wait for that call. From there, while they're at the property, it's really useful to get regular valuations, just so they can stay up to date with what the market is doing. Very often first time buyers will not consider what their home is worth for another five or ten years.”

To see more homes on the market join our Facebook group all about property – click here to become a member. And to read more great articles on homes and gardens, please visit our dedicated section of The Star’s website here.

In these confusing and worrying times, local journalism is more vital than ever. Thanks to everyone who helps us ask the questions that matter by taking out a digital subscription or buying a paper. We stand together. Nancy Fielder, editor.