16 February 2018

First Time Buyer Blues?

First time buyers. Where to begin. You’ve saved your deposit, been given old sofas from kind relatives and your Granny has a box in her dining room filled with small kitchen gadgets she’s been buying at pampered chef parties in preparation for this big day. Your solicitor has just told you what rates are and you’ve priced the sky package you want, then picked the sky package you can afford. Moore electrics have a sale on and the washing machine is down to £175 (woohoo). That’s it, you’re going to be broke for the foreseeable future but you don’t care.

First Time Buyer Blues?

Aside from all this spending, having your offer agreed unfortunately means very little on that first day. Boundary issues, missing deeds, that credit card payment you missed 7 months ago… These issues can often rear their ugly heads over the next 3 months and you squirm every time you hear the phone ring because it’s going to be one of three people who rarely bring good news at this point – your solicitor, your mortgage advisor and your estate agent.

I have been a first time buyer myself. Most of us over 30’s have. I could not have more empathy for the stress and sleepless nights a first time buyer will no doubt endure. I remember sunbathing by a pool in Barcelona on the phone to an estate agent racking up an extortionate phone bill trying to resolve the issues surrounding what I had quickly started calling ‘my wee house’. I was agreed the house in June and didn’t get the keys until February and I honestly thought about pulling the plug dozens of times. I viewed about 12 more houses that summer and although none matched up to my wee house, it seemed I may have no choice. I was a hot mess, no-one who crossed my path didn’t get an earful about it.

I feel that experience qualified me more for dealing with first time buyers than 3 years at uni ever could. I get it. Its hard work. But hold tight – nothing beats the feeling of walking into your first wee home that you have paid for, walking on the cheapest carpet Johnny in smallcost could sell , ‘Johnny is that really the best you can do, I’m skint’ and drinking coffee in the morning from your 50p IKEA mug.

First time buyers, it’s all worth it.