The time it takes to buy a property can vary greatly depending on numerous factors. On average, it typically takes about three months from the time your offer is accepted until you can move into the home. However, this timeframe can change based on the following factors:

1. Mortgage Approval: The process to secure a mortgage can take several weeks. If you’re pre-approved, this can speed up the process.
2. Property Search: The length of time it takes to find the right property can vary greatly. Some people find their perfect home quickly, while others may take months.
3. Chain: If you’re in a property chain, where the sale of your home depends on the seller also having to move, this can delay the process. A chain-free property purchase can be quicker.
4. Survey: Once an offer is accepted, a survey of the property is typically conducted. This can take one to two weeks, but delays can occur if problems are found.
5. Conveyancing: This legal process involves the transfer of property ownership from the seller to the buyer. It usually takes between 8 to 12 weeks.
6. Completion: The completion process, where contracts are signed and exchanged, and the keys are handed over, can take a few days to a week.

So while three months is a general guideline, the property buying process can be shorter or longer depending on the circumstances.

A property ‘chain’ refers to a sequence of linked purchases, each of which is dependent on the preceding and succeeding purchase. Essentially, each buyer is also a seller, selling their existing home to finance the purchase of a new one.

For example, Person A wants to buy Person B’s house, but they need to sell their own house first to fund the purchase. Meanwhile, Person B is buying from Person C and also needs to wait for Person A’s purchase to go through to afford it. This continues down the line, forming a ‘chain’.

The more links in the chain, the more complex the process can become. All transactions need to reach completion simultaneously, meaning everyone in the chain exchanges contracts and completes on the same day.

If one sale falls through, it can potentially affect all the other transactions in the chain, causing delays or even causing the entire chain to collapse.

Chain-free property transactions, such as buying a new-build property or buying from a seller who isn’t making an onward purchase, are generally simpler and can be completed more quickly because they’re not dependent on any other transactions.

Purchasing a property involves several costs, not all of which are immediately obvious. It’s crucial to budget for these to avoid any unpleasant surprises. Here are the main expenses you’ll typically need to cover when buying a property:

1. Deposit: This is the substantial upfront payment you make towards the purchase price of the home. It’s typically between 5% and 20% of the property’s value.
2. Mortgage Arrangement Fee: Some lenders charge a fee to set up the mortgage. It can often be added to the mortgage, but this means you’ll pay interest on it.
3. Valuation Fee: Your mortgage lender will charge a fee for valuing the property, to ensure it’s worth the amount they’re lending you. This can vary based on the property’s value.
4. Survey Costs: A surveyor will check the property for any problems. Costs vary depending on the type of survey you choose, from a basic home condition survey to a comprehensive building survey.
5. Legal Fees: You’ll need a solicitor or licensed conveyancer to carry out the legal work. This includes checking the contract and title deed, dealing with the Land Registry, and transferring the payment.
6. Stamp Duty Land Tax: In England and Northern Ireland, you may have to pay Stamp Duty Land Tax (SDLT) on purchasing a property. Always check the most up to date rates before you budget your costs.
7. Removal Costs: If you’re using a removal company to help you move, remember to include this in your budget.
8. Building Insurance: Mortgage lenders usually require you to have buildings insurance in place from the date of exchange.
9. Initial Costs After Moving: Don’t forget about the immediate costs after moving, such as decorating, buying new furniture, or any repairs that may need doing.

Remember, the costs can add up, so it’s essential to budget carefully and ensure you have sufficient funds to cover everything.

Visiting a property is a critical part of the home buying process. It’s not just about getting a feel for the space, but also gathering important information. Here are some key questions you should consider asking during a property viewing:

1. Why is the owner selling? While this might not impact your decision, it could give you insight into potential issues with the property or the neighbourhood.
2. How long has the property been on the market? A property that’s been on the market for a long time might have underlying issues.
3. Are there any known issues with the property? The seller is obligated to disclose any significant problems. However, it’s always wise to ask directly, particularly about issues like dampness, plumbing, or electrics.
4. What is included in the sale? Ask what fixtures and fittings are included. This could range from kitchen appliances to garden sheds.
5. What is the neighbourhood like? Ask about local amenities, schools, pubs and parks. If possible, also visit the area at different times of day to get a true feel for it.
6. Has the property had any major works recently? Major works could include extensions, loft conversions, or new kitchens or bathrooms. If so, check they were done with the necessary permissions and guarantees.
7. What are the average utility costs? This will help you budget and determine if the property is energy efficient.
8. What is the parking situation? Is there a driveway, a garage, or street parking? Are parking permits required?
9. How old is the boiler and when was it last serviced? Replacing a boiler can be costly, so it’s good to know its age and condition.
10. Is the property leasehold or freehold? If it’s leasehold, ask about the length of the lease, ground rent, and service charges.

Remember, no question is too small when you’re considering buying a new home. It’s important to gather as much information as possible before making a decision.