In this presentation, Cotswold Financial Planning offer you 10 tips that are essential for any first time homebuyer. Buying a home is an exciting and challenging experience, and by taking these points into consideration, you can manage your financial commitments together with managing the demanding tasks of moving home.

1. 10 TIPS FOR A FIRST
TIME HOMEBUYER
Useful Information About Buying a Home

2. Buying a New Home
There are a number of
key things to consider
when you are purchasing
a new home. In this
presentation we look at
some of the most
important.
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3. 1. A Long-Term Budget
Take a realistic
assessment of the
ongoing costs of
owning your first home.
Ensure that these
costs are affordable
over time.
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4. 2. Short-Term Savings
Along with a long-term
sustainable budget, you
also need a short term
one that will cover
associated expenses.
These expenses include
repairs, stamp duty,
solicitor fees, etc.
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5. 3. Freehold vs. Leasehold
If the buyer is purchasing the
building and the property
upon which the structure
resides, the purchase is a
freehold purchase. If the
buyer is buying a flat or a
share of a property, the
transaction is a leasehold
transaction.
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6. 4. Obtaining a Mortgage Commitment
Obtaining a pre-qualification
commitment will help a lot. Every
first time homebuyer should also
be familiar with the advantages of
traditional mortgages and the
advantages of incentive programs
with low deposit requirements
such as Help to Buy, Homebuy
and New Build.
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7. 5. Retaining a Contractor
Avoid surprises by retaining a
contractor who is familiar with
all home building systems like
heating, plumbing and roofing
as well as foundation
inspections. Never purchase a
home without a thorough
inspection by an independent
building inspector.
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8. 6. Pest Control Inspector
Consider using the services
of a third party pest
inspector to determine if
there is any rodent or bug
infestation. Obviously,
knowing that your new
home isn’t infested provides
great peace of mind!
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9. 7. Estimate Your Moving Expense
As part of your short-term
cash outlay budget, get
estimates for moving. Don’t
forget to insure valuables.
Browse many different moving
companies, review their
reputation, and get copies of
proof of insurance.
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10. 8. Develop a Packing Plan
Disposing of unneeded items in
advance will make moving into
your new home a more
pleasurable experience. When
you pack each box, label the
boxes so the movers know
what rooms they should be in.
Know what rooms need to be
unloaded first and get those
critical rooms set up quickly.
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11. 9. Hire Cleaners
Get floors and carpets in
your new home cleaned
before you move. The same
should hold true for windows
and doors - to give you the
best platform to move in.
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12. 10. Activate a Comprehensive Action Plan
List your dates, build your todo list and notify every party of
their responsibilities. You are
the general contractor for the
purchase and for the move.
Stay in touch with estate
agents, solicitors and lenders
throughout the purchasing
process.
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13. Thinking of Buying a Home?
For more advice and information about
planning for your first move, get in touch
with Cotswold Financial Planning today.
Call: 01608 651608
Or visit: www.CotswoldFinancialPlanning.co.uk