Property expert shares one key mistake first-time buyers always make
If your New Years' resolution is to start saving in the hope of purchasing your first ever home in 2024, then you might wanna listen up.
That's because, a world-renowned on-screen property expert, due to feature on the incoming series of BBC hit Homes Under the Hammer, has some nifty tips on what - and more importantly, what NOT - to do as a first-time buyer.
And he's highlighted one basic mistake a lot of us are making:
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We're talking about housing guru Moses Bright, who - with experience as an investor under his belt - knows everything there is to know about the property market.
And with knowledge of the most efficient means of saving money, the best means of haggling and when exactly the right time to buy is - particularly during this period of agonising inflation - he's definitely a voice worth listening to when making this crucial life decision.
Appearing on GB News this week, Moses let viewers in on some of the most common yet disastrous mistakes that debut property shoppers have been making.
First things first - don't go in blind.
"The first thing is advice I give to all my clients, you must have a plan," Moses kicked off his message. "If you don't have a plan, you will go in there blind."
Explaining what he means by a 'plan', he continued: "You have to ask yourself, 'Where am I right now? Why do I want to buy a home? What kind of home do I want to buy? What are my finances like?'
Moses warned that first-time buyers can get 'emotional' and 'miss out on the little details' - sometimes making a very key mistake, with Moses saying there are 'steps you need to take'.
"The mistake a lot of people do is [when] they want to buy a property, they start looking on Rightmove or they go on Zoopla - that's it," he explained.
And jumping straight onto these well-known property websites when you decide on buying - inputting a location, scrolling away and booking viewings - can actually do more harm than good.
"Sometimes people need six months to a year to just sort out their credit file," he disclosed.
"What we do is we get you to set a plan and then we work with you on your credit file, and then we work with you on your finances, and once we ensure that you can get a mortgage, we then work with you to look at the areas that you can afford."
It is then that - with the assistance of an expert - you should go on to book viewings of the properties that tickle your fancy, with the expert handling the daunting negotiations.
Concluding his statement, Moses told viewers: "So if you're thinking of buying a property in 2024, I would say start with a plan, look at your finances, look how much you can afford and then think about the future.
"Don't overstretch yourself."
Topics: Money
Rhianna Benson