General Buying a house

[Jack]

That rather depends on the size and value of the property, but if your looking at a say a 2 bedroom terraced house, it could be between £300 - £600 this is just a rough idea, as I say it is down to the size of the property. If you don't want a full survey there are other options for surveys, but you may find the bank will want a full survey done.

Why would bank want full survey done? That's something I will have to look at . Honestly didn't knew that buying a house is that complicated.

 

[Phil Nicholson]

Why would bank want full survey done? That's something I will have to look at . Honestly didn't knew that buying a house is that complicated.

Firstly they will want a survey to ensure that the property is worth the amount they are lending you, for example they would not want to lend you for example £100,000 if the house is only worth £20,000, and of course they will insist the property is insured too! Because if it were to fall down they want to make sure they can get there money back. It's not complicated you will have to let the estate agents guide you, it's quite simple really.

 

[Jack]

Firstly they will want a survey to ensure that the property is worth the amount they are lending you, for example they would not want to lend you for example £100,000 if the house is only worth £20,000, and of course they will insist the property is insured too! Because if it were to fall down they want to make sure they can get there money back. It's not complicated you will have to let the estate agents guide you, it's quite simple really.

Thanks again for your advice Phil Nicholson . We planning to do a better search after the New Year. But it's good to know from people with more experience. I've asked on facebook as well, but I don't get that info, most of the time recommending me solicitors .

By the way, with leasehold, there are more fees involved ? Like service charges and similar things.

 

[lightmuncher]

My understanding is that house prices have dropped over the last month, so I would say yes, but only you can decide to buy at the moment. Only you know what you can and cannot afford.

We are on the market now and haven't had a person in to see it over three months. Even after chaning estate agents. Now we are looking to reduce after the new year. Its now a buyers market not a sellers market like it has been until earlier this year. I am getting plenty of reduced properties in my in box now. Here in Lincolnshire we are still getting a lot of people from an affluent south. Where they get a stupid price for a small property and come here to buy their mansion which will be for them mostly mortgage free. Back in 2001 we moved from Uffington, Oxon, to Ceredigion in Wales. That made me mortgage free, which was good as I lost my ability to work from there on. That house was my home, which we sadly had to leave to come to Lincs. But we still remained mortgage free. We do things and fall into a groove at times for the better, especially for us. What many won't have experienced here is that when I kicked out my ex-wife I took on a mortgage which was about 14% interest rates! Having to work and keep my daughter in clothes etc was hard, but I will never regret being a single parent for 5 years. Saying that I think the world is a more darker place than back then. Which is why my wife and I are stocking up the pantry. Its a scary world out there at the moment, and if it gets better than I have a well stocked cupboard most probably cheaper than what it will be.

 

[Phil Nicholson]

Thanks again for your advice Phil Nicholson . We planning to do a better search after the New Year. But it's good to know from people with more experience. I've asked on facebook as well, but I don't get that info, most of the time recommending me solicitors .

By the way, with leasehold, there are more fees involved ? Like service charges and similar things.

The fees are the same as freehold, there are no service charges or anything else but that rather depends on the lease which a solicitor will go through and explain the detail to you. The best advice is let the estate agents guide you they will do all the work for you, and the solicitor will legally exchange the contracts etc.

 

[Jack]

The fees are the same as freehold, there are no service charges or anything else but that rather depends on the lease which a solicitor will go through and explain the detail to you. The best advice is let the estate agents guide you they will do all the work for you, and the solicitor will legally exchange the contracts etc.

Thanks again Phil Nicholson . That's what we will do next year.

 

[ruedas]

So in another word, is not point looking at leasehold properties

The only things that matter are if you like the house/flat and it will maintain resale value. lease/freehold does not affect that

 

[Jack]

The only things that matter are if you like the house/flat and it will maintain resale value. lease/freehold does not affect that

That's a good tip ruedas . Thanks for mentioning it. I will definitely have to get in touch with local agencies to find out more.

 

[ruedas]

That's a good tip ruedas . Thanks for mentioning it. I will definitely have to get in touch with local agencies to find out more.

And sign up to rightmove and zoopla, they are very helpful.

 

[Jack]

And sign up to rightmove and zoopla, they are very helpful.

I'm already having an account with righmove. I think zoopla is not as popular as righmove.

 

[lightmuncher]

We have been looking for a while now and most, well in fact all houses mostly go to Rightmove. Zoopla is okay, but doesn't give you a rough area to look at the street view. Which the second one I use is On The Market, that has a street view. I have no idea why prime location is so badly put together or, even how it stays in business? Good hunting on the housing front.

 

[Jack]

We have been looking for a while now and most, well in fact all houses mostly go to Rightmove. Zoopla is okay, but doesn't give you a rough area to look at the street view. Which the second one I use is On The Market, that has a street view. I have no idea why prime location is so badly put together or, even how it stays in business? Good hunting on the housing front.

I did that street view as well, very useful tool. You also can copy and paste the address on Maps and it will give you same street view.

There are a lot of websites, but most of the times, agents are posting or advertising on all of them, and you end up with same properties on all them websites, with just minor description difference.