Buying a house

You'll do a lot of house-hunting, deal with estate agents and building societies - and then hope the seller accepts your offer.

Here are a few steps to help and guide you to buying your next home:-

1. Work out how much you can afford to pay for your new house. Consider your deposit, stamp duty, estate agent's fee, mortgage, and buildings and contents insurance.

2. Decide where you want to live. Think about how long it will take to commute to work, local schools, and the re-sale of the houses in the area.

3. Think about what kind of house you want. Do you want a newer house that requires little or no refurbishing? Would you prefer an older house with character that might require some repair work? One floor or two? Are you interested in a flat, terrace, semi-detached or townhouse?

4. Register with Estate agent. Have the details of properties that fall within your brief sent to you. Visit any property that interests you: the more houses you look at, the better idea you will have of your likes and dislikes. This will help you filter out future choices.

5. You don't have to buy through an estate agent. Many people prefer to sell privately, advertising in new-papers or magazines.

6. Find a lender - usually a bank or a building society - and arrange to have pre-approved for a mortgage. A dedicated mortgage broker may be able to find a deal more suited to your needs - but you will be charged for the service.

7. Find your ideal house and make an offer.

8. Any mortgage lender will insist that you have the prospective property surveyed. (if you are paying the full quantity in cash you should still have the property surveyed.)

9. Hire a solicitor specialising in buying and selling property. They will perform the necessary searches to prove that the property is registered in the name of the vendor. If you choose not to hire a solicitor you do this for yourself - although possible, it is also time-consuming and arguably not worth the money you will save.

10. Agree a date in which you can take possession of the property.

11. Once your solicitor has exchanged contracts with the vendor you can move in.

Tips
Be patient. Find a house that fits your family's needs can take some time.

House values fluctuate with the ups and downs of the economy.

Buying a house is likely to be the biggest single investment you'll ever make. CHOOSE WISELY.