My First Property

Learning From Buying Your First Home

Many things in life are a learning process, and buying a property is certainly one of them.

Until you have been through the process there are things you won't realise and won't have thought of. Now it might seem hard enough work going through the process the first time and you'll breath a sigh of relief at the end and not be thinking about doing it again.

But the chances are that one day you will want to move again and get possibly a bigger house - whether that's when you get married and have kids or simply have the money to upgrade in another ten years time.

And now, at the end of the process when you've bought the property, or during it, is when everything is fresh in your mind. It is highly recommended that you keep a log of what you have done at each stage of the buying process: from seeing the property, questions you asked, through to appointing the solicitor, calls and conversations you've had with them, when you've received each piece of documentation and paperwork and what that is, and how you responded.

By the end of the process you will have a superb log of what is involved in the house-buying process and the various elements involved. Not only is this useful for future reference with regard to your house if you want to check about something a few years down the line ('did I ever discuss/ask/get told that I was responsible for maintaining the fence with the left hand neighbour but not the right?') but more so it will be useful when it comes to buying your next home: you can read through the process and make sure that you don't miss anything out the next time, or at least prepare yourself for what you would expect to happen at each stage of the home-buying process.

These logs can make fascinating reading a few years later, or even just after the process. So it certainly pays to be organised. You should print out your records at the end of the home-buying project - since that's really what a house purchase is - and then keep it for future reference. You never know when that information and knowledge you've accrued by going through the house buying process will come in handy - even if just offering advice to a friend who is going through, or about to go through, the same process.

More first-time house buying articles:

  1. The Key Purpose of a Second Viewing
  2. Sticking to a Budget at Auction
  3. What is a Buy To Let Mortgage?
  4. Costs of Buying a House
  5. Fixed Or Variable Rate Mortgages

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