When should I contact a mortgage adviser?
The process of getting into your own home is a long one, generally speaking – but when should I contact a mortgage adviser?
While it is definitely true that the journey to home ownership is not a fast or smooth path – it can be made a lot easier with a good team of professionals on your side.
So, in that spirit, we have created a general guide to when you should be getting certain tasks on your to do list done in preparation for the big day.
Preparation Is Key In Buying Your Perfect Home ASAP!
Just remember that it takes a different amount of time for everyone – some house hunters will get lucky and be in their home in just a few months, but for others it can take much longer. Another good thing to remember is that most people who seem to go from zero – to – home owner in just a few weeks have usually had the groundwork laid out seriously in advance.
Step Approximately 12 Months Before You’d Like To Move In
When you first start thinking about owning your own home, start out by thinking about the goals you have for the long term. Is this house a Forever Home? A First Home? An Investment Home?
Whichever you decide is the home you’re looking for, start keeping an eye out around your ideal location so that you can keep a really firm hold on what’s coming and going – and be prepared to get started on your journey.
It’s also a great time to start thinking about how your finances look – maybe start saving a little bit extra for your deposit or pay off some of your outstanding loans.
If you want to build, this could take more time than expected so you might want to get started on step 2 now! The rest of this guide is more geared towards existing homes, as building a new house is a more complex process.
Approximately 8 Months Before You’d Like To Move In
Start looking around to begin building your team.
This means investigating your options for a lawyer or a conveyancer, a mortgage adviser, trustworthy property inspector, and a real estate agent.
You should also start to look more actively for properties in your area, and be ready to pounce on your team if your dream house happens to come on to the market.
It’s also a good time to start keeping good records of your finances, so if the dream scenario does crop up you don’t have to scramble for them and stress yourself out.
Approximately 6 Months Before You’d Like To Move In
Your team should be locked in and ready to go.
This means getting pre-approval if you can, your lawyer or conveyancer ready to go, and your real estate agent actively looking for homes on your behalf.
This is also a good time to start preparing to sell your own house, if you own it, or begin planning your move out from your rental. Check your contract for a minimum notice, early lease breaking fees, or clauses that could keep you paying for rent after you’ve moved out if you don’t go about it the right way.
Start keeping track of other contractors you may need – movers, decorators, presale cleaners for your existing home, etc.
Approximately 3 Months Before You’d Like To Move In
Three months is the perfect time to be actively house hunting. If you have ore-approval you could go from hunting to signing in just a few weeks.
Once you find the property that you’re interested in, get your mortgage adviser and lawyer on the phone and get ready for a whirlwind of excitement, paperwork, and (hopefully) home ownership!
