Buying my First House - Offer accepted!

Bug One

Bug One

Bug One

Soldato
Joined
18 Oct 2002
Posts
14,297
Location
Sandwich, Kent
Woo hoo. I've just had my offer accepted on my first house.

We've been looking at houses for a while, but we settled on one house in Sandwich.

Its not a big house. Basically a 2 up 2 down, but its in a nice location, and there is lots of room for improvement. Plus its got a huge garden.

HF387253.HF91000.M8149163.I8149163.L.JPG


Can't wait to move in now!
 
Looks good :) Just wait until you get those contracts exchanged before popping the Champagne out! After waiting 3 months to exchange on a house last year they pulled out the morning we were supposed to exchange :( Still, got abetter house in the end so was all for the best :)
 
Congrats but when that sub prime fiasco comes over here in a few months it will be painful.
 
iBot said:
Congrats but when that sub prime fiasco comes over here in a few months it will be painful.
Click to expand...

How so? I guess he's on a fixed term for a few years so no worry there, and so what if the value goes down, he won't be selling :) Ok there's the annoyance factor of the house maybe being cheaper in the first place, but if he's happy to pay what he is now for it then no worries :)

Plus people have been saying wait for the x y z to hit for years and nothing has happened, yet :/
 
I could spend the rest of my life waiting. I'm now in a position to buy.

I see paying a mortgage as better than paying rent.
 
iBot said:
Congrats but when that sub prime fiasco comes over here in a few months it will be painful.
Click to expand...

Buying the first house is always painful. However by being sensible and getting a fixed rate repayment mortgage that is affordable you can protect yourself against problems and in a couple of years things become easier. So what if the value goes down in the short term, it will go up again and you are on the way to owning your own place.
 
Congratulations.

Having gone through the same process quite recently, you've got a lot of waiting and stress ahead of you. However, once you move in, it's all worth it. :)
 
I bought my first at 21 in November, can only afford it with a partner but its going OK so far. Not on brilliant money either. Still cheaper than rent.
 
Very nice, If you don't mind how much did you pay?

Also could you walk me through the process of buying. Legal fees surveys everything you did?
 
AcidHell2 said:
Very nice, If you don't mind how much did you pay?

Also could you walk me through the process of buying. Legal fees surveys everything you did?
Click to expand...
£176k

The rest of it, I'll let you know later.

I've got a meeting with another mortgage adviser this weekend, and then its on to the solicitors. :p
 
Alibaba99 said:
However by being sensible and getting a fixed rate repayment mortgage that is affordable you can protect yourself against problems and in a couple of years things become easier.
Click to expand...
Fixed rate's more for knowing what you're going to have to pay - but it can work both ways. Interest rates are, with a very high certainty, going to drop next. So fixing now might not be wise.
 
Congrats, buying your first house is always a memorable* experience, we bought ours this year.

*and stressful, but still fun :)
 
We've recently bought our first house. We're at conveyancing stage, and hoping to be in when I've got week off at half-term in October.

Our house cost £99k - 3 bedroom terraced (3k off asking). Quite a bit cheaper than yours there Bug! I'm only on 23k a year at present though (first point on the pay scale + some extras), paying about 570 p/m mortgage.

After all the bills, we'll be left with £450 to buy food and clothes; quite tight for 2 (and a 2 year old!) but managable.

Someone asked about fees - I'm paying about £650 for the solicitors, but you pay a bit up front (£175 we paid for searches) then the rest on completion. It was £375 for a basic survey (absolute rip off). You can also pay arrangement fees or put them on the mortgage and sometimes higher lending charges. We had to put up with these, but our interest rate was a lot lower than what we could get off the high street currently (often 6.5% up - ours was 5.89%)
 
You must log in or register to reply here.
Back
Top Bottom