FIRST TIME BUYER BUY TO LET INVESTOR TENANT HOME RENOVATION
First Time Buyer gets on the Ladder
Michael wanted to buy his first home and knew exactly where he wanted to buy, but didn’t know where to start or who to trust. The Designs on Property Team helped by suggesting he organised a Mortgage Agreement in Principle first This gave Michael the confidence to approach estate agents knowing the properties he could afford and how the procedure would work. ‘The advice given to us by the designs on property team was to see an Independent Financial Advisor to understand how much we could afford,’ says Michael. ‘I cant actually imagine how we would have gone about getting our first home without seeing an IFA,’ adds Michael. ‘For what was a very small amount of money, we were given an impartial approach to the whole process and to be honest all we needed to do was say ‘yes!’
Once Michael had found the property he wanted, he was unsure about whether a survey was required and how much one would cost. As the property was an 18th Century cottage, The Designs on Property Team strongly recommended a full building survey and advised on how much to pay, suggesting some companies to contact. Michael was pleased that "the surveyors were patient with us not knowing how and what to expect from the survey. Granted, the amount for a full Building survey was quite expensive but absolutely vital on a property of its age. We thought that as it had been there for over 200 years, we felt it was important to ensure that there was nothing to suggest it wouldn’t be there for another 200!"
After a few months, Michael bought the property knowing it was structurally safe and sound. "The report that came back acted as a future target list for small things we needed to do to the property such as routine maintenance of woodworm and the additional safety requirements such as ventilation and smaller things like banisters!’ “The support from the Designs on Property team was extremely helpful. They take away the stress and worry of paying out money for services you don’t know if you need. I really felt like I was in charge of my purchase rather than it being completely out of my control!”
Buy to Let Investor Help
Mrs Broxup from Hertford used Designs on Property as a member and now uses it as her first point of call whenever she needs to do any research on buying and letting properties. She has used many of the services recommended on the site for her own property business and would highly recommend them.
If Mrs Broxup needs any other buy to let services in the future, Kate and the Designs on Property team are the first people she will call.
Don't Rent, Save and Buy! Home Counties
Kat was desperate to move out of home and start sharing life with her partner. She found a great place to rent at a great price, but she was a bit worried about whether the property was being let legally.
Know the right questions to ask!
The Designs on Property Team went through kat's situation and asked key questions:-
1 What TDP scheme are they protecting your deposit in?
2 what's clauses are in the contract?
3 would you prefer to buy rather than rent?
It turned out the landlord was letting privately and had made changes to a letting agent's contract - pretty much making it invalid.
They also didn't protect the deposit - and were not aware that they needed to and there was no gas safety certificate!
Conclusion - it turned out Kat really wanted to buy. As a result she decided to stay home and save madly to take advantage of the current property price falls and buy in the next 12 months.
Kat says: it's great talking to the DoP team as their help is independent. I didn't know my deposit needed to be protected or that the next 12 months was a great time to buy, so thanks very much for all your help
A Costly Renovation!
Charlotte was considering buying and doing up a flat, then selling at a profit. Her hubbie was a builder and they could do the work at weekends - hoping to finish in eight weeks.
However Charlotte wasn't sure they had budgeted for all the necessary costs so contacted the DoP Team to check.
Renovation falls apart!
After downloading a DoP cost sheet, Charlotte worked out that they would only earn around 3,000 over three months work. She decided it wasn't worth the risk and pulled out of the deal!
Charlotte was amazed at all the costs of a renovation project. She'd accurately calculated the buying and renovation costs, but then there were the mortgage fees, monthly payments, insurance and selling fees. Thank goodness I checked the DoP member's site first says Charlotte, otherwise we would could have worked evenings and weekends for hardly any rewards!