Buying a new house or flat can be a stressful experience and is one of the most important financial decisions you will make in your life.

We have created a step by step guide to buying a home in the uk which we hope you find useful.

For more detailed information about each step read the individual knowledgebase articles

Step 1 - How Much Can You Afford

The first step is to work out how much you can realistically afford and not spend beond your means. Before making a decision to buy a new house or moving home consider the following.

1. Draw up a list of all the out going expenses and your total monthly income.
2. Take into account any savings or investments you may have which could be used for a deposit.
3. If your selling a home, how much profit will you make after the sale.
4. Consider the one off costs involved in buying or moving to a new home which include.

For more information read the how much can you afford knowledgebase article

Setp 2 - Getting A Mortgage

A majority of the UK high street banks or building societies offer a range of mortgage packages for first time buyers, home movers , buy-to-let and more. Finding the right mortage can be a real challange.

Before choosing a mortgage consider the following.

1. How much can you afford to borrow.
2. What is the best type of mortgage for me repayment, interest only, tracker, discounted rate, variable rate.
3. What deposit is required from the bank to secure the mortgage.
4. Over what period of time do you want the mortgage for.
5. Can you make a lump sum payment to reduce the monthly payments.

For more information read the getting a mortgage knowledgebase article

Now you have worked out how much you can afford and the right mortgage plus the bank has offered you a mortgage in principle subject to status its time to find your dream home. finding a house or flat can be a time-consuming process as this is one of the biggest decisions you will make and you want to make sure you get it right.

We recommend you consider the following when searching for a home

1. Sit down and draw up a list of items you expect to see in a home including old or new build, detatched, semi-detached, terraced or flat,  2, 3 or 4 bedrooms, double glazing, new kitchen, and bath room, extension, parking, garden and more.
2. Think about the location and neighbourhood including transport links, schools, crime figures, shopping, leisure facilities, parks, poll tax.

For more information read the finding a home knowledgebase article 

Step 4 - House Viewing

Now you have found the location and made a short list of the houses you plan to view plus created a list of features you expect to see in a property its time to arrange a house viewing.

Consider the following during a house viewing

1. When visiting the property make some notes so you can review and compare them with other homes you have visited at a later date.
2. Spend time to tour the whole property both inside and outside dont just rush in and out, remember this is one of the biggest decisions you will make and you want to make sure you get it right.
3. Ask for some private time to tour the house or flat on your own without the buyer so you can have a good look around.
4. Have a list of questions you want to ask the buyer prepared before you visit the house or flat. 

For more information read the house viewing knowledgebase article

Step 5 - Making An Offer

Once you have viewed a number of properties you like and drawn up a short list of houses or flats which ticked all the boxes. Now its time to sit back and review your notes you took during each house viewing and compare the pro's and con's for each property. 

Consider the following when making an offer

1. The buyer may wish to see the letter from the bank or building society to confirm you are in a position to make an offer. 
2. Do your research and visit the local estate agents, visit the property valuation web sites including Our Property Mouse Price, Up My Street, Land Registry which will give you an idea of what properties have sold for in the area.
3. Making the right offer is all about getting the right balance. If your offer is to low then you could loose your dream home if you offer is to high then you may be paying above the market rate.
4. How many people are interested in the house or flat or are you the only buyer making an offer. If you are the only buyer interested in the property you will be in a better position to negotiate a lower price.
5. Stick to your budget and if you need to go over the budget can you afford it.

For more information read the making an offer on a house knowledgebase article

Step 6 - Survey and Valuation

Before purchasing a home you will be required to have a survey completed on the house or flat you wish to buy.

Property surveys are splitt into three diffrent categories

1. Basic Valuation Survey
2. Homebuyers Survey and Valuation
3. Building Survey

For more information read the property survey knowledgebase article

Step 7 - Solicitor / licensed conveyancer

Once your mortgage is approved and your offer is accepted one of the final stages when buying a property is to hire a solicitor or licensed conveyancer to complete the following tasks.

1. Local searches about any proposed changes or development in the area relating to new housing estates, roads and shops.
2. The solicitor or conveyancer will also deal with any questions about the sale of the property including mortgage details, boundaries, neighbour disputes, property fixture and fittings and guarantees for any work completed on the house plus more.

 For more information read the Solicitors and Conveyancing knowledgebase article