Published: 28/12/2023If you're looking to buy a property in Wimbledon there are a few things you'll need to think about before committing. Here are 10 things our experienced team at Ellisons suggest you consider before taking the plunge.
1. Work Out Your BudgetIt's amazing how many buyers start viewing properties before they've even worked out what their budget is. Many buyers have a vague idea and start looking well before getting the finance in place, only to find out they can't borrow as much as they thought. So, before you start viewing properties in Wimbledon and putting in offers, get in touch with a mortgage advisor to find out exactly how much you can borrow. As part of our ongoing commitment to delivering an all-round and personal service, Ellisons are pleased to be able to assist our clients in obtaining financial advice on mortgages, re-mortgages and buy-to-let mortgages from hundreds of banks and building societies. You'll know how much your monthly repayments will be, which will allow you to work out how much disposable income you'll have left each month.
2. Have Your Finances in Place... And Factor in Additional CostsIf your money is tied up in long-term funds or accounts then it may not be easy to access immediately, so make sure you give yourself plenty of time to get your funds released, and ideally transfer it into an instant access account so that it's available when you are ready to make a purchase. It will save a lot of potential aggravation and will help to speed up the process. Another thing to consider is the additional costs that come with buying a property. Things like conveyancing fees and removal costs are unavoidable, but you'll also want to think about items you'll want in your new property in Wimbledon, such as furniture, carpets and so on. After all, there's no point in blowing your budget on a property if you can't afford to furnish it!
3. Find the Right LocationThink about your current circumstances as well as your future ones.
- Do you need to be close to a train station or the underground?
- Are there good schools close by?
- Do you want to be within walking distance of specific amenities?
4. Consider Outside SpaceThe pandemic back in 2020 changed a lot of people's attitudes towards what they're looking for in a property, with gardens being a huge positive for buyers - and this is still the case. You might not consider a large garden to be essential, but having some outside space, even if it's just a small courtyard, patio or a communal area can be very beneficial to your mental wellbeing.
5. Think About Office SpaceIt's not just gardens that have become more important to buyers in recent years. Millions of people now work from home, so properties in Wimbledon with home offices have seen an increase in demand too. So, if you're one of the many people who now spend more time working at home, then a property with a study, ample space for a desk, or a converted outbuilding may be perfect.
6. Does the Property Have Potential?It's worth considering what value you may be able to add to the property in future, or what a future buyer may see in it. For example, is there space to add an extra bedroom, an en-suite, or a conservatory? If you're only planning to live in the property for a couple of years before moving on, is it likely to increase in value? Does it have good transport links or new facilities being built nearby for example?
7. What Condition Should the Property be in?Are you looking for a property in Wimbledon that's ready to move into tomorrow? Or are you happy to spend time and money bringing it up to scratch?
You'll need to consider these options when you're viewing properties for sale in Wimbledon online, and potentially adjust your budget accordingly.
8. Find a Good ConveyancerThe earlier you instruct a conveyancer the smoother the buying process will be. Our conveyancing team, which comprises experienced property professionals and solicitors, can deal efficiently with the legal and administrative side of selling your property. A good conveyancer will help to keep the whole buying process as stress-free as possible. By instructing Ellisons Conveyancing at the beginning of the purchase process, we can help reduce the property transition process by two to three weeks, meaning we are fully prepared and ready to go once a sale is agreed.
9. Understand What's IncludedTry and find out which fixtures and fittings are included as soon as possible in the buying process, as it will allow you to work out if you need to budget for anything extra. For example, appliances such as a fridge, freezer, dishwasher and washing machine will probably not be included as part of the purchase, which could lead to several hundred pounds of additional costs to consider.
10. Keep Your Spending in Check Before You BuyRemember, if you're taking out a mortgage, your lender will be taking a deep look into your finances. Therefore, it's a good idea to get them up to scratch before starting the whole process. Don't go loading up your credit card with purchases, and if you're able to pay off debts or make them more manageable, it will go a long way to helping you get approved for a mortgage.
Ellisons are your local estate agents in Wimbledon. We can also help with conveyancing and mortgage aspects of your purchase.
Call us on 020 8944 9494 or email email@example.com to chat with a member of our friendly and experienced team and discover properties for sale in Wimbledon today.
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