Buying your first property in North Hampton

North Hampton is a small, charming town in New Hampshire, US. With the majority of the town inland, it also has access to Atlantic Seacoast. It’s also a great place to call your home. With a population of fewer than 5.000 people, it gives its residents the small-town feeling, along with that special ingredient. But, what’s buying your first property in North Hampton like? What is it like to buy a home in a place with fewer than 2.000 households?

Buying your first property in North Hampton

Buying a property can be a complicated process, especially if it’s your first time. But, that doesn’t have to be the case. We will walk you through the complete home buying experience in North Hampton and give you a couple of tips. It usually starts by saving for a deposit. However, there are unpredictable costs. With moving, there are moving costs that most people don’t usually consider. The same goes when you’re buying a property. But, don’t worry, as we will tell you what you need to know when buying your first property in North Hampton.

Consider hiring professional movers

With looking for property in North Hampton and other tasks, moving might be a burden that you’d want to share. And there are great companies quite near North Hampton. For example, you can find local moving professionals in Exeter, NH. They can help you with your move and allow you to focus on buying your property.

Finances first

Your finances are crucial when buying your first property in North Hampton

We don’t know if money makes the world go round. But, it sure helps when buying your first property in North Hampton, or anywhere else. Before deciding on a property, check your finances.  Even if you choose moving assistance options in Goffstown, near North Hampton, and even if it’s a local move, some costs are going to be involved. That’s why you need to plan your budget for the move. But, more importantly, there are matters of finance to discuss when buying your new property.

How much to save for a deposit?

Before looking at properties, it’s important to save for a deposit. In most cases, you need to save from 5 percent to 20 percent of the cost of the property. For example, let’s say that an average detached house in North Hampton is somewhere around 370.000 dollars. In that case, you would need a deposit from 18.500 to around 74.000 dollars. And, keep in mind that saving more than 5 percent will allow you to have a wider range of cheaper mortgages.

Check your credit score

In order to qualify for a loan, you need to check your credit score. If you have a good credit score, you will be able to get more favorable terms. But if not, your interest rate might be too high. And you might not even be able to get approved in the first place. There are various platforms where you can check your credit score for free, so make that one of your first tasks.

Find a mortgage

There are various options to choose for a mortgage, so choosing the right one might not be so easy. As it can depend on several things, it’s a good idea to do some research and to talk to mortgage brokers, advisers or other experts.

The costs you might not expect

Aside from monthly mortgage payments, there are other costs when buying a property. It’s important to take them into consideration, to get the final idea of your budget.

  • Costs of survey
  • Solicitor’s fee
  • Removal costs
  • Buildings insurance
  • Initial furnishing costs
  • Valuation fees and mortgage arrangements

Finding a property

small wooden house
Looking for a property might be the most exciting part, but you should also be patient

When you know your budget, it’s much easier to be realistic when buying your first property in North Hampton. Next, you need an answer to certain questions. Are you buying a house or a flat? Freehold or leasehold?

  • Buying the freehold means that you will own the property and the land the property sits on
  • If you are buying a flat, you are buying leasehold, which means buying into a share of the freehold

Ask someone to help you

When viewing properties, it’s useful to have someone to help you. If you really like a certain property, you might oversee certain shortcomings and regret later on. But, having someone with you can help you to remember to ask for the important details.

Asking the right questions

Question marks for questions you'll need to ask before buying your first property in North Hampton.
Don’t forget to get answers to all the important questions

If you want to avoid moving mistakes, you will ask your movers all the right questions. The same goes when buying your first property in North Hampton. The answers will determine if it’s the right property for you. Also, check if it’s an honest answer.

  • Ask how long the property has been on the market, as the answer might provide useful clues.
  • It’s important to know why the property is being sold in the first place.
  • When can you move in?
  • Are there other offers made on the property that the vendor is taking into consideration?

Put in an offer and exchange contracts

Once you find your dream property, put in an offer. Also, you might need to prove that you can secure a mortgage. Also, note that as a first-time property buyer, you will be more attractive to vendors. The reason is that, because of not having to sell another property, you are able to move in immediately. After agreed terms and an approved mortgage, exchange the contracts and put down your deposit. And don’t forget to pack your home, too.

First-time owner of a property

Congratulations, now you’re a proud owner of a property. We hope that buying a property in North Hampton is one of the best decisions you’ve ever made. Now that you’ve done your part, North Hampton will make sure you fall in love with the Atlantic breeze and the cozy feel of the town.

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