Our Top Tips to Getting on the Property Ladder

- Wed 03 Jan 2024

Starting your first homeownership journey can be as daunting as it is exciting. At Bradleys Estate Agents, we understand the complications of the property market and are dedicated to helping you navigate this significant life milestone. Here are our top tips for taking those first successful steps onto the property ladder.

1. Understand your finances

The first step in your property journey is getting a clear picture of your financial health. Start by assessing your income, savings, and any debts. This will help you determine the price range you can realistically consider. Remember, it's not just about the deposit - consider other costs like stamp duty, legal fees, surveys, and potential renovation costs.

2. Secure a mortgage in principle

Before you start house hunting, it's wise to have a mortgage agreement in principle (MIP or AIP). This is a statement from a lender indicating how much they would be willing to lend you, based on some preliminary information. An MIP/AIP can make you a more attractive buyer and gives you a clear idea of your budget.

Bradleys Financial Management Ltd has been providing Mortgage advice across Devon, Somerset, Cornwall and beyond for many years. Our team can help with new mortgage enquiries and re-mortgages as well as offering vast experience. Click Here to find out more.

3. Know your market

Understanding the property market in your desired area is crucial. Research current market trends, average property prices, and the local community. Bradleys Estate Agents with 30 offices across Somerset, Devon and Cornwall offers in-depth local market insights, simply ask your local team who will be happy to help you.

Sign up for property alerts from Bradleys and network with local agents to get updates on new listings that match your criteria, also keep an eye on agent’s social media pages. By signing up to a mailing list, this will put you ahead of other buyers as your trusted Estate Agent can keep you up to date with properties before, they hit the portal websites, for example Rightmove and Zoopla.

4. Be realistic and flexible

While we all have our dream home in mind, it’s important to be realistic. Consider what you can afford and what compromises you might need to make. Sometimes, looking at properties that need some work can be a great way to get on the property ladder at a lower price point. Also consider what is more important to you - the location or the size of the property. Sometimes, compromising on one can give you a better deal on the other.

5. Prepare for viewings

Viewing properties can be overwhelming. Prepare a checklist of what you need in a home and what you’d like to have. During viewings, take notes and photos to help you remember and compare properties later. Also don't hesitate to ask questions during viewings. Enquire about the property’s history, any recent renovations, and the local area.

6. Think long-term

Consider how your needs might change in the future. Buying a property is a significant investment, so think about things like space for a growing family, potential for extensions, and resale value. Look for properties that offer scope for improvement or have features that will be attractive in the resale market.

7. Solicitors and legal checks

Once you’ve found your ideal home, you’ll need a solicitor to handle the legal aspects. Choose a solicitor who specialises in residential property. They will conduct necessary searches and help navigate the legalities of the buying process. Stay in regular contact with your solicitor and estate agent to keep up to date with the progress of the house purchase.

8. Final checks and moving In

Before finalising the purchase, conduct a final check of the property. Once everything is in order, and you have the keys in hand, it's time to celebrate your new home!

At Bradleys Estate Agents, we are committed to making your journey to homeownership as smooth and successful as possible.

For a more in-depth breakdown of getting on the property ladder, rad our full first-time buyer guide:
click here.
Find your local Bradleys office to discuss your move:
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Register on our mailing list by completing our online form:
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