Buying a property might look like a difficult process, especially when it is your first house. Don’t worry, the given below tips for buying a house will help to make sure that you get your dream house in Ireland without any difficulty.
Do proper research and set your budget
To ensure that you are well-aware of new homes schemes, register yourself with appropriate agents well in advance. This will help to keep you well-informed of launch date viewings and newly available properties. Also, make sure to review your budget to evaluate how much you can pay in mortgage repayments. Here, you should not only include the cost of the property but also booking deposit (2-5% of the property purchase price), solicitor’s fees, insurance, stamp duty (1% of the property purchase price), Survey costs (€200) and any other additional cost. You should also make it a point to contact banks and mortgage brokers to get mortgage approval, which will help you find out how much you can spend.
Get a solicitor
While looking for a property to buy, you should also look for a solicitor who could take care of the conveyancing for you. This will include all the legal work required in buying the property. Different solicitors have different fees, so it is best to compare the fee and find a solicitor in your area. The solicitor will not only guide you through all the paperwork but will also check and make sure that the sale of the property is legal.
House hunting, although tiring is fun! There are various ways through which you can find property for sale, like, property websites (Property.ie, Daft.ie, Rent.ie, etc.), real estate agents, private treaty sale, local newspapers, and auctioneers. All you have to do is choose your preferred location and search accordingly. Before you start house hunting, make a list of the features that you definitely want in your new house. Also, make a list of the features on which you can compromise if you like the house a lot. Do not forget to make a property checklist, which you can use when you go for house viewing. This checklist should list houses’ Building Energy Rating (BER), whether the property is in a High Radon Area. The checklist will help you make comparisons between the properties and choose the best suitable option.
Purchase of the Property
After you have found the house of your dreams, the next step is to put an offer to the seller. Once the seller accepts your offer, you need to pay a deposit to the estate agent. After this, you will have to sign the contract for sale, which will be binding on both parties. You should involve your solicitor at this stage, who will also take care of all the legal formalities.
After the contracts are exchanged you will become the homeowner and receive the keys to your new home. You are then free to choose when you want to move to this new home or use it only as an investment!