Buying a property in Guildford, as in many other parts of the UK, can be a daunting process. With many factors and variables at play; it is particularly difficult if you are moving from overseas or in your early years of marriage quite apart from the current state of the UK housing market.
The Guildford property market has responded to the pent up demand from buyers and sellers alike as shown in the report from Home.co.uk.
The Financial Times recently reported that the housing market in England is in a state of flux. The Bank of England has increased the base interest rate half a dozen times since December last year as it tries to stem spiralling inflation.
You should always hire reputed and licensed conveyancing solicitors in Guildford to make your property buying experience safe and secure.
Determining how to go about buying a property in Guildford is important in the current market. There are some key steps to take.
Set Your Budget
When you are ready to buy your first property, it is important to set a budget. Such action should let you know how much money you have available for the deposit and other costs associated with buying a home.
It is also important to know your monthly outgoings, including mortgage repayments and other bills such as council tax and utility bills. Buying a property in Guildford can be very expensive when you do not set a budget or plan in advance.
Decide where you want to reside. A good start is by looking at the local area and asking for advice from friends and family.
You may also want to visit the local council and ask about what is available in the area. Once you have decided on a location, it’s time to start looking at properties for sale.
There are three main types of properties available: residential, commercial, and industrial. These categories are further divided into sub-categories depending on the purpose for which they are used.
Residential properties are used for residential purposes such as living quarters or arrangements for students or employees at an office building, etcetera.
Commercial properties include shops, restaurants/bars, hotels/motels/resorts etc. These are mainly used for commercial purposes such as retail shops or offices in an industrial zone such as a chemical plant or a steel plant.
In contrast, industrial properties include factories and other manufacturing units (e.g., paper mills).
Identify Your Needs
Identify what you want. If you want a house with an established garden, you’ll need to find a property that has been lived in. That will make it easier for you to make any necessary changes to the property and keep it up-to-date with modern standards.
You may also want to consider buying a property with a garden if you have children or grandchildren who will be living at home in the future.
Look for a Solicitor
When you are looking to buy a property in Guildford, you will need to find a solicitor who can help you through the entire process. That includes finding the right property, negotiating with the seller and preparing your offer.
Your solicitor will advise you on all aspects of the purchase, from how much you can afford to how long it will take for you to get your deposit back.
The next step is for the solicitor to draw up a contract for sale and purchase, which lays out all of the legal terms of the deal and protects both parties from any problems that might arise during the transaction.
A solicitor also helps negotiate with other people interested in buying your property, such as estate agents or mortgage brokers.
Hopefully, this post has given you an insight into the process of buying a property and how you can find a property that is best for you.
It is unwise to make such a significant investment without the help of an independent advisor or solicitor. We strongly encourage all those looking to buy property in Guildford to take advantage of the expertise readily available in the area.
The real estate market here is constantly changing, and essential information about recent real estate sales and trends will ensure your purchase meets your expectations.
Source: AVRillo Conveyancers, expert conveyancers who have been ranked in the ‘Top 100 Best Workplaces’, ranked 7th in the UK’s Great Workplaces for Women, UK’s Best Trainer and overall Best UK Conveyancers.