Tips on buying a home

Buying a property is a big decision. There are several things you should think about when looking to purchase a new home:

  • Choosing the right home - What property would suit your needs? Would you prefer a new build, or to possibly save money on an older home? Is your property leasehold or freehold? When are you able to move in?
  • Could a government or council scheme help you buy a new build property? See schemes with the council
  • Mortgage affordability - When applying for a mortgage you need to check how much you are able to borrow from providers, and also the affordability of the monthly repayments. A qualified financial advisor will be able to assist you in evaluating your mortgage affordability
  • Getting a deposit - Mortgage providers will ask you to pay a lump sum towards the cost of the property. This is usually at least around 10%-20%, though could be higher if you have the funds available. Some providers will allow a minimum of 5% deposits. The government has schemes to assist you in building a deposit, through the Lifetime ISA (external link), and for existing account holders, through the Help to Buy ISA. Please note, the Help to Buy ISA was closed to new applicants 30th November 2019, with existing accounts able to continue saving into their Help to Buy ISA until November 2029.
  • Other additional costs, such as solicitor’s fees, stamp duty, valuation fees, etc.
  • Running costs - once you own the property, you will usually be liable for any repairs and maintenance work, and the associated costs. Other costs, such as ground rent, service charges, insurance, etc. may also apply
  • The process of buying a house - an estate agent can help you throughout the process and guide you through the steps you need to take to purchase your new home.

How do you find properties?

You can find properties available to buy, both old and new, advertised through estate agents, property websites, and local papers.

Properties are often available in all areas across the borough.

If you notice a new housing development that you’re interested in, pay a visit to the on-site sales office where a sales representative may be able to show you around show homes and advise you about the development and buying on it.

Further advice

For more in-depth advice and guidance on buying a home, see:

© Wigan Council