The Ultimate Checklist for Buying a House

Having a checklist for buying a house can help you with your purchase.

When it comes to buying a house, there are a lot of different aspects and processes which should be kept track of.

At Stacks, we are property finding and buying experts. We have created the ultimate checklist for buying a house which is split into three sections.

• Pre – Homebuying Checklist
• House Hunting Checklist
• Closing Checklist

If you are looking for a property finder to help you find the perfect home – then contact Stacks today.

Why Is It Important to Have a Checklist for Buying a House?

At Stacks, we like to make sure everything runs smoothly for each of our clients. Having your own bespoke checklist will help you stay organised and focused during the stressful home buying process. A checklist will ensure that you don’t miss any important steps or deadlines along the way.

It’s also a great way to keep track of your budget when it comes to buying a house – it can help you avoid any costly mistakes or nasty surprises!

We also know that having a checklist can give you peace of mind. Buying a house is a significant investment, and having a clear plan and process in place can help reduce stress which allows you to make a confident and informed decision.

Pre-Homebuying Checklist

the first section of our ultimate checklist for buying a house is the Pre-Homebuying checklist. Your Pre-Homebuying Checklist includes everything you should get in order before you start searching for your new home. Some items may vary depending on if this is your first purchase or if you are already on the property ladder.

1. Determine your budget.

Your budget will determine what type of house you will be able to afford. Houses cost different amounts in different areas. Knowing your budget is one of the most important steps to ensure you don’t start getting attached to houses you cannot afford.

When you work with Stacks, we are experts at knowing what your budget can get you, and how to maximise it – helping you find the right property to suit you.

2. Check your credit score.

Your credit score is one of the most important factors considered by lenders when it comes to applying for a mortgage. This doesn’t just affect the lend itself but also the conditions of the repayments.

Before you even consider applying for a mortgage, we would advise you check your credit score, a lower score may mean you have fewer options when it comes to lenders and their willingness to offer you a mortgage.

If you are buying a house with your partner or anyone else, it would be a good idea to the credit score of everyone who is going to be on the mortgage.

3. Save For a Deposit

If you don’t already have a deposit or savings of some kind – now is the time to start. It’s best to aim for at least a 5% but preferably a 10% deposit – or more if you can afford it. The higher your initial deposit, the lower your monthly repayments will be on your mortgage.

Remember there are also closing costs so you may not want to put all your savings down as a deposit. A good mortgage adviser can help with determining the amount of savings required to win the house of your dreams.

4. Get Pre-Approved for a Mortgage

You may be lucky enough to be a cash buyer, but if not, now is the time to get preapproved for a mortgage. This isn’t a requirement, but it can make things run smoother as it shows the sellers that you are serious about purchasing a property.

House-Hunting Checklist

Now that all of the pre-homebuying admin is underway and you understand your financial position, it’s time for the House Hunting Checklist.

1. Identify Your Needs and Wants

What do you want from your house? How many bedrooms? Would you like a garage? Are you wanting to get stuck in with a do-er upper? Or is a new build more your vibe?

Before you dive into house viewings it’s best to have an idea of what would be a dealbreaker for you so you don’t waste any precious time – yours nor the seller’s.

This is where Stacks can really help you. We have worked with clients for many years’ so we know the right questions to ask to help you come up with a checklist to find your perfect home.

2. Research Locations

This is another area where Stacks bring a lot to the table!

Our Regional Directors are located up and down the country, each one has a wealth of information about the area they work in. They can answer any questions you may have and help you decide where to buy your perfect home.

You may have questions about schools, the culture of a location, transport links, house prices in different areas, what the high street is like, community aspects and much more.

Our Buying Agents can help you get a feel for an area and will even accompany you on an Orientation Day where they will take you round to explore the location you are considering.

3. Work with a Buying Agent

Working with a buying agent like Stacks means we can help with any aspect of your purchase. From organising house viewings to communicating with solicitors and home inspectors on your behalf – Stacks have got you covered.

By choosing to work with Stacks, you are handing some of the most stressful aspects over to us and ensuring you have time for the fun parts, such as…

4. Viewing Properties

This is definitely the most fun aspect when it comes to buying a house. When you work with Stacks, we conduct the initial viewings and only take you to see properties which fit your brief. This saves you valuable time looking at houses you’re not going to be interested in.  

Keep returning to your checklist and examine how close you are to the items you thought important at first  – do you need to amend it, or adjust your expectations?  Are you more flexible on certain aspects can be met now, or did some online impressions steer you wrong?

Top tip for viewing houses – make sure you take photos! When you’ve spent a day going from door to door it can be difficult to remember which house was which. Snapping a few photos in each house can help jog your memory when you’re reflecting on your options.

Closing On a House Checklist

This is where lots of legal processes come into play. If you have Stacks on your side, we do much of the hard work, so you don’t have to.

1. Review and Sign the Purchase Agreement

The purchase agreement is a legally binding document between the buyer and the seller. Stacks will help you review and understand all legal documentation, and keep chasing any formal paperwork through the system saving you a lot of time and stress.

2. Home Inspections

Home inspections will need to be carried out. Again, this is another area where you can leave the hard work to Stacks. We will help organise the inspection – survey, mortgage valuation, etc  and review the paperwork to ensure everything is in order for you.

3. Finalise the Mortgage

This usually takes place after the exchange of contracts and before the completion date. Once the mortgage has been finalised everything is legally set for you to officially own your home.

One of the great things about working with Stacks is that we communicate with your legal team and ensure that exchange, finalisation and completion of the contracts happens in a timely manner for you and your family.

4. Complete the Purchase!

Completion date and moving date are usually the same so organising removals will also need to be coordinated.

And this is where we leave you to enjoy your new home! There’s nothing we love more than handing over a set of keys to our happy clients.

Work With Stacks…

We’ve used our experience to compile the above Ultimate Checklist for Buying a House. If you would like more information or advice about any stage, then please give us a call.

Take a look at some of the areas we cover and meet our Regional Directors here.

If you would like to work with a property finder to lighten the load when it comes to buying a house, then contact Stacks today – we’re looking forward to hearing from you.