The Home Buying Process; A Step-by-Step Guide
Most of us don’t regularly buy a house, so it’s no wonder the home-buying process can seem a little confusing at times. However, it’s not as complicated as it can seem. We’ve laid out the steps below to guide you through buying for yourself and buying to let.
The Home Buying Checklist
- The very first step for buying a new home is to check how much you can borrow, see how much your deposit will need to be and get a mortgage agreed in principle.
- This doesn’t tie you into anything – you can always choose a different provider later.
Home Buying FAQs
The process of buying a house typically involves the following stages: get your finances in order, find your dream home, find a solicitor, reserve your home, arrange your mortgage, get a valuation & survey, complete legal work, exchange contracts, complete & move in.
The time it takes to buy a house can vary depending on several factors, but it typically takes between 8-12 weeks from making an offer to completion of the purchase.
The amount of deposit you need for a house can vary depending on the lender and the specific circumstances, but generally, a deposit of at least 5-10% of the property's value is required.
The longest part of the house buying process is often the legal process of conveyancing, which involves searches, surveys, and checking the legal ownership of the property. It can take several weeks or even months to complete this process.