FabGuys.com forum: Buying a Property

By *rimberk OP Man
3 weeks ago

Leeds

I'm playing with the idea of getting on the property ladder but don't know where to start. Are there any experienced people here and even property developers who'd like to give some advice or share tips for what to watch out for?

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By *ildwestheroMan
3 weeks ago

Llandrindod Wells

Difficult to advise. The property market can be very fluid. One minute its a buyers market and the next minute a sellers market. Always a danger of negative equity if you pay too much. Best talk to a mortgage advisor of building society even if you can afford to buy outright.

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By *ustOneBearMan
3 weeks ago

Neath

It’s location location location

Also do you want to work on it?

Do you want to just paint when you move in?

Decide a budget. Stick to it.

A cash buyer is always good when buying. Be patient. Took a year to find my property.

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By *ocky30Man
3 weeks ago

Wellingborough

"Difficult to advise. The property market can be very fluid. One minute it's a buyers market and the next minute a sellers market. Always a danger of negative equity if you pay too much. Best talk to a mortgage advisor of building society even if you can afford to buy outright."

Sound advice - get some financial advice first. If you are not in the position to pay outright it will indicate how much you are likely to be offered for a mortgage and the amount of deposit you will need.

That will drive the price of the property you can look for.

RightMove will then see more action from you than Fabguys

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By *3versMan
3 weeks ago

glasgow

Think of the property as your home and not an investment or moneymaker - if you're happy in your abode it doesn't really matter what the short term value is - British people have this weird notion that houses are investment tools

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By *sal paulMan
3 weeks ago

Walton/frinton

Don’t buy a new build buy a older house that’s my advice

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By *atchmo_Jizz!Man
3 weeks ago

Wolverhampton

When you’ve sorted the financials and the location, make a list of things that it’s essential the property has; a drive/garage, double glazing, central heating etc. Then make a list of the things that you would like to have but they’re not deal breakers; en suite bathroom, a large garden, modern kitchen etc.

This will help you when you start trawling through estate agents websites etc.

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By *evanianMan
3 weeks ago

Gogledd Ddwyrain Cymru

"Don’t buy a new build buy a older house that’s my advice "

Sound advice, new builds are poor value for money with their higher purchase price and are inevitably plagued with teething troubles. With older property a full structural survey is recommended.

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By *rimberk OP Man
3 weeks ago

Leeds

Thanks for the great tips, guys.

And yes, I need a place to live in as been sharing and I'm just sick of it.

When I want to buy, it's for my own benefit and improve my quality of life rather than to make money.

As for the location, I have my criteria but it's hard to know if it'd be good once you move there.

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By *atchmo_Jizz!Man
3 weeks ago

Wolverhampton

No-one can predict the future but if you want to get a feel for an area, google the postcode to find out crime stats and drill down to discover the type of crimes being recorded.

Visit the area several times on different days. Does the vibe of the area change as you move from daytime to early evening?

Look at the schools, if the schools are highly rated and popular then that’s an indicator of a good area.

Look at the local high street, is it full of takeaways and vape shops? That’s never a good sign.

Are there many HMO’s or properties to let? Again another indicator.

There’s loads that you can do.

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By *ildwestheroMan
3 weeks ago

Llandrindod Wells

"Don’t buy a new build buy a older house that’s my advice

Sound advice, new builds are poor value for money with their higher purchase price and are inevitably plagued with teething troubles. With older property a full structural survey is recommended."

Very true. House take time to settle. I had a house built once. Reputable builder and got all the necessary certificates. Decided to sell as my circumstances changed. Heard that about a year or so later some notable cracks had appeared. Fortunately no comeback on me.

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By *etmepants offMan
3 weeks ago

dartford

"Think of the property as your home and not an investment or moneymaker - if you're happy in your abode it doesn't really matter what the short term value is - British people have this weird notion that houses are investment tools"

I agree 100%, buy a home where you want to live, not an investment

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By *andysmithTV/TS
3 weeks ago

Poole

Moving house has been shown time and time again as one of the most stressful things you can do in your life.

Estate agents should have a large health warning on the front door 🤣

Miss Smith 💋💋💋

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By *LASGOW 60s GUYMan
3 weeks ago

Glasgow

Start with how much can you afford. Don't stretch your finances too far. Then what will it buy you, is it an area you want to be in. Remember you still need to pay bills and eat

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By *ammy aka SammyTV/TS
3 weeks ago

Bedford

Regardless of location be it posh or poor if it's at all possible find out about the nieghbours. Xx

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By *dstefiMan
3 weeks ago

Solihull

"No-one can predict the future but if you want to get a feel for an area, google the postcode to find out crime stats and drill down to discover the type of crimes being recorded."

Great advice. Not only does it make a difference to the feeling of a place where you live, it'll also have a massive effect on stuff like car insurance (my premium plummeted when I moved from Balsall Heath - inner city Brum - to Dickens Heath which is basically a white-flight suburb out in the sticks).

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By *0yguyMan
3 weeks ago

Cumbria

Start as soon as possible, buy just what you can afford and if you can, over-pay the mortgage to get up the ladder faster to owning your home outright.

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By *idingcockMan
3 weeks ago

Driffield

"Start as soon as possible, buy just what you can afford and if you can, over-pay the mortgage to get up the ladder faster to owning your home outright."

This is excellent advice, I used to work for a bank many moons ago and overpaying your mortgage can knock years off the term. BUT if you’ve got more expensive debts such as a credit card pay these off first. Martin Lewis is irritating but he is the expert on personal finance.

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