2. Know Your Budget
Buying a property is likely to be one of the largest transactions you ever make, so it is important that your calculations are correct from the start.
Every purchaser works to a budget, whether you are looking to buy a studio flat in The Barbican or a six bedroom country estate in the South Hams.
Take into consideration your income, any savings you wish to use and if appropriate, any cash you plan to use from the sale of your existing property (equity) and any foreseeable life changing events such as parenthood.
If you are planning to use the equity held in your existing property we would always recommend getting an accurate realistic market valuation from a local property expert. Lang Town & Country have the experience, knowledge and expertise to provide this information which will include the current condition of your home, demand, similar properties for sale and recent comparable sold evidence.
It is important to factor in the essential services and taxes involved in buying property into your budget calculations. The most common include – stamp duty, selling/buying costs, conveyancing, land registry and surveys.
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