6 Essential Steps to Take Before Making an Offer on a Home
You’ve found the perfect house. You’re already planning where the sofa is going, picturing your morning coffee maybe even a cat curled up on the windowsill. But before you make an offer, here are 6 essential steps you should take first. Future you will thank you.
1. Source of Funds in Place
Before making an offer, ensure your source of funds is clear. This could include a mortgage agreement in principle, savings, or a gifted deposit.
Why it matters:
- Shows the seller and estate agent that you are a serious buyer.
- Prevent delays once your offer is accepted.
- Speeds up the conveyancing process.
Keep a clear record of how your deposit was accrued, as your solicitor will need to evidence this during the purchase.
2. Inspect the Property Carefully
While a survey usually takes place after an offer is accepted, it is wise to carry out your own inspection during the viewing.
Look for obvious issues such as:
- Cracks in walls or ceilings
- Signs of damp
- Problems with pluming or electrics
Research common problems with the type of property you are viewing. For example, Victorian homes are often prone to damp, while older houses may have outdated boilers or wiring. Spotting issued early gives you a clearer understanding of potential costs.
3. Research the Local Area
When you buy a home, you are investing in a neighbourhood as much as the property itself.
Consider:
- Local amenities and transport links
- School ratings (if relevant)
- Crime rates and community feel
- Future development plans in the area
We recommend visiting at different times of the day and throughout the week to get a true sense of the environment. This helps you decide if the area fits your lifestyle, whether you want a family-friendly community or a lively city-centre location.
4. Consider Long-Term Costs
Your mortgage is not the only expense. Long-term property costs can significantly affect your budget.
Think about:
- Council Tax – Will this stretch your monthly finances?
- Utility bills – Check the Energy Performance Certificate (EPC). A low rating means poor energy efficiency and higher heating costs.
- Leasehold properties – If applicable, factor in ground rent and service charges.
Being realistic about these ongoing expenses helps you avoid financial strain after moving in.
5. Understand Your Stamp Duty Position
Stamp Duty Land Tax (SDLT) rules changed earlier this year, but it is still important to know your personal position.
Research the current thresholds and, if in doubt, speak to a tax adviser. Understanding your liability upfront will help you budget accurately and avoid unexpected costs.
6. Instruct a Conveyancer
Once your offer has been accepted, your estate agent will request information of your conveyancer is. Having one lined up early avoids delays and shows you are prepared.
This is where Acumen Law comes in. As experienced conveyancers in Brighton and Hove, we offer expert guidance every step of the way. Making what can been a stressful experience, as smooth as possible.
Thinking of making an offer? Get in touch with Acumen Law today, and we’ll help you move into your new home without the stress.
