Buying a house - first steps

notevenlondon

#1141

Oh, and we are kinda chain free.


#1142

The alternative you mention definitely should be avoided.


#1143

think I’m going to be quite bad at this house buying stuff, have a bit of a tendency to cut off my nose to spite my face, so any estate agents or sellers messing about would probably make me walk away out of principle


#1144

If your house has one (not all do, if the water connection is very old), it will be at the point where the supply enters the property. This is usually under the kitchen sink. It looks like a tap head.


#1145

It worked! Managed to divine the price that was likely to get it and put in an offer!

6.67% below asking price.


#1146

As your financial adviser in this matter I will take a 2% cut. Thanks


#1147

Good work. If the agent was pushing for an offer from you, they may well have been aware that your situation is preferable to the other potential buyer’s (if, of course, they exist!)

Decent saving too!


#1148

We managed to coax the estate agent into disclosing what the other offer was and that it was best and final with no scope to increase!


#1149

Then you’re a better negotiator than I. Well done!


#1150

Christmas tree up

Guess that’s me through with my journey in this thread then. Thank you everyone for the advice and reassurance (especially @marckee) - this would have been a horrible experience without you. I look forward to sticking around and watching others journeys to completion :grin::+1:


#1151

Pleased you’re in and settling :slight_smile:

Do free to join us in the DIY thread when you need/want… Even if you’re getting tradesman in to do all the actual work we’re all happy to help with anything you’re unsure about.

Have an awesome first Christmas in your new home!


#1152

Went to view this this morning

Very, erm, unique! I really like it though.

How much do things like council tax & bills add up to for 1 person per month? Any online calculator type things?

Oh I need a mortgage too. Should I see one of these mortgage broker type people?

I have about £20k deposit saved up and this is on the market for £87750 and he seemed to be open to offers. What kinda repayments would I be looking at? I should probably do some googling huh.


#1153

Call up London and Country and get them to find some mortgages for you. More accurate than an online calculator and they’re free and nice (in my experience).


#1154

This is a decent, simple guide:

Re. council tax and bills: depends, really.

You’ll get a single person discount on the council tax, but other ongoing bills you’ll be paying will include, water, gas, electricity, contents insurance, buildings insurance/service charge. Each of those will vary, but I’d budget for £100 a month for the bills, and maybe half that for council tax maybe?


#1155

that mirrored bath panel is a trip!

I’d recommend speaking to broker who’ll go through your finances and do some searches for you. You can use L&C, or go via a recommendation - just make sure they’re whole of market and make sure they explain their fees clearly - like if they’re paid directly via the provider or if there is a broker fee you’re expected to pay.


#1156

don’t forget you’ll need to pay for a conveyancer, and for possible mortgage fees


#1157

council tax = about £70
electric and gas = averages about £40
TV license = £12 I think?
water =£15

then there’s any ground rent, service charge, broadband


#1158

So if you were to get it for £85 and put in £18k of your deposit with some saved back for fees/expenses and some minor, ahem, decoration, that gets you an LTV of under 80% which will help your mortgage price.

Nationwide have a two year fix with no product fee for £334pm, or with £999 product fee for £321. You pay an additional £300 over two years if you don’t pay the product fee up front.


#1159

this is over a 20 year term, btw. Once you know what is a comfortable amount you can repay each month, it’s worth keeping the term as short as possible so that you hopefully build equity more quickly and pay less in total.


#1160

It’s going to a lot more than what I pay now for a lot less :frowning:

Maybe this buying lark isn’t for me