 Buying or selling property is a major event in anyone's life and it is essential to go into the process with as much information as possible. Research should begin way before even looking at your first properties with numerous financial details to take care of first.
Buying
It is vital that before you begin to house-hunt that you have your finances in order. In times when the market is slow an important first step is to save as much as possible beforehand so you will have a lump-sum to put down as a deposit. Remember that the higher your deposit, the better the deal you will get on your mortgage. In recent months it has become very rare to find a 95% mortgage or higher so you should really be looking at a deposit of 10% at least.
Once you have decided on the type of property that you are looking for and your projected deposit it is time to look for a mortgage deal. Try and secure the best deal you can, through a reputable broker, the easiest way of doing this is to take advantage of a price comparison website. If you already have a mortgage it is still worth checking to see if you can get a better deal from a different provider.
The Internet will also help you find a number of suitable properties in your area and you'll find that many local estate agents will have their own websites with up to the minute listings. To boost your chances of securing your dream home, you must move fast and arrange to view properties as quick as you can. Remember others may be just as keen on the property as you!
To prevent your new home being lost to a late bidder it is recommended that you try to offer as near the asking price as possible. In Scotland there are laws to protect the buyer once a deal has been struck, but in the rest of the UK you could find yourself being 'gazumped' by a late bid.
Make sure you get a full survey of the property from a licensed conveyancer. They'll be able to spot things you can't while viewing the property and if any problems are found it should be possible to negotiate a new selling price.
Selling
An often overlooked method of adding value to your home is doing a bit of home-improvement. You don't need to spend a fortune but freshening up each room with a coat of paint and making sure all fittings are in working order is a major consideration. Keep in mind at all times though, the cost of work compared to the value it adds. If you are spending thousands on a room which will only add hundreds, you are wasting your own time and money!
It is also wise to keep things neutral. Pink or other bright colours may be right up you alley but could end up putting off otherwise interested buyers. Remember that the house is the buyer's blank canvas and they don't want to be overpowered by your personal taste.
Make sure you choose an estate agent you trust to complete the sale and that their valuation is accurate, look at comparisons in the local area if possible. The agent will have a considerable amount of work to do while selling your home so you should try to keep on top of how everything is progressing and don't be afraid to make inquiries and seek answers if things aren't going as smoothly as you would like
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