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Buying your first home with Nicol Estate Agents Posted: 21st February 2023

Buying your first home with Nicol Estate Agents

The total independence, the responsibility, buying your first home is both terrifying and exciting.

Whether you have previously been renting or this is your first foray outside of your parent’s home, there are a few things to consider, as this latest blog post will explain.


work out what you can afford in monthly mortgage payments

Organising your mortgage lender and what you can afford

One of the most important steps to carry out, before you even begin your search for your dream home, is a mortgage agreement in principle.

Accessible online through most mortgage lender sites, this tool allows you to put forward your monthly income and then informs you realistically of the maximum amount they would be willing to lend you.

At this point you will also get a view in to the monthly payments you can expect to make to pay off the loan, traditionally split over a 10 – 25 year period.

It is at this stage you need to consider what is affordable to you and also what you will be required to have in advance for a deposit.

First time buyers can take advantage of governments schemes to assist with this.


getting in touch with a lawyer for conveyancing purposes during a house purchase

Finding a reliable solicitor to deal with all legal proceedings in your house purchase

Once financial matters are all finalised it is then best to find a solicitor to deal with conveyancing.

You will require them to submit a note of interest to the seller’s estate agent for any property you are interested in to be considered for an offer, so it’s best to have this organised in advance to avoid delaying proceedings.

Thereafter, if successful with your offer, they will organise things such as your completion date and exchange of contracts with the seller’s solicitor – as well as handling transfer of funds from your mortgage loan.


beginning your house search as a first time buyer

Contact Nicol, your local estate agent to begin viewings

However once legal and finances are organised, it’s then time for the fun part, beginning your property search with us!

At this point you’re fully in control and you can advise your estate agent of your perfect locations and absolute musts for your property. Not only will this save time in your house search but also allows us to seek out properties that you may be interested in, before they hit the market.


first time buyers submitting an offer on a property and buying a house

Submitting an offer on your first home

Once you have found somewhere you could imagine yourself living it’s then time to make an offer. It is up to you whether you go in at the asking price or significantly higher/ lower.

In some cases the seller’s estate agent may advise on the popularity of a property. However a closing date would be a good indicator of this and may be your sign to increase your offer if you are able to do so.

With a closing date you will only have one chance to submit an offer, so if you find it is your dream property, it may be worthwhile going higher.


entering the property market as a first time buyer

Making the move in to your own home

Then, once your offer is accepted you can then breathe a little, only once you exchange contracts with the seller and set a completion date is the property officially yours. Your name will then be placed on the title deeds.

At this point you’ll be given your keys, you can move in and begin to decorate.

So there you have it, a quick house buying guide for first time buyer.


expert estate agents on hand to help you with buying home for first time

Get in touch with us today regarding buying your first home

Our team are on hand to answer any queries you may have as a first time buyer and can also put forward some suggestions regarding properties we currently have available which suit your requirements.

Our offices are open Monday to Saturday, please phone 0141 616 3960 or email [email protected] to discuss with one of our experts.

Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
We want our clients to be delighted with the service we provide. Listening to your needs and understanding your requirements is our starting point. To find out more about our approach to selling homes, download our comprehensive Guide to Selling your Property here.
If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.