So here is my first thought, they should teach you about this whole process at school or something!!! I can tell you the history of the slums in Glasgow and I could maybe still work out the value of ‘a’ in algebra, but if you had asked me at the start of this year to explain to process of buying a house and getting a mortgage and all of that I would have been truly stumped.
So where are we with the process? Well we have got a mortgage broker (essentially someone to do all the money bit for us because we don’t have a scooby!) and we narrowed down where we want to live, viewed two houses and in fact put offers in. Yes, that’s right all of that in the space of a week!
I have learned that with houses, you have to move and fast! If you are not fast you will miss out so me and hubby have taken the approach of if we like it and see the potential then we are going to go for it. There are many schools of thought on making offers on houses, some say to play the game and make a bid and then increasing it if your outbid etc, I call this the eBay school of thought! I go down the other route which is, go with the maximum you are willing to spend and then hope for the best! I figure by taking this approach, we will never wonder ‘what if’ when something get snapped up from under us.
I also learned that you don’t need to have a full blown mortgage before you offer on a place, you need deposit (tick) and a mortgage in principle, or an advisor who can verify that you’re not taking the mick and will be approved to be able to progress. We are what people call ‘without a chain’ – basically meaning that we have nowhere to sell therefore are apparently more attractive buyers, nice to know right? But what I will say is we thought this would be the biggest thing no our side but shocker, we are not the only ones.
What we also noticed in both viewings is we were by far the youngest people there, which I thing just goes to show how difficult it might be for young first time buyers like me and hubby. Don’t get me wrong, we are in a very fortunate position financially, because of some sad circumstances but hopefully with a positive outcome.
So, what now? We now play the waiting game by the sounds of things. I am trying not to get my hopes up, as we’ve been told by many people before that there is a lot of disappointment and heartbreak when it comes to house buying. So I will be stepping back from Pintrest, paint samples and putting all my current furniture into the houses and try to compose myself.
Stay tuned for more house updates over the coming weeks!
Until next time,
Little Lemon xxx