Property Today

Today we've got the seven steps you should take to buy a house, and tomorrow there are seven steps to rent a new property.

It's shaping up to be a fantastic weekend for weather, so why not load up Property Today on your wireless PC, relax in the garden with a cold drink and enjoy finding your next home.

Let's start with the seven steps to buying a property.

1) Find the right location
They say the secret of property is "location location location". And this is certainly a vital factor that will affect the future value of your home. No point having a beautiful detached five bedroomed home if it's next to a power station. Use an online map to find a good location that's central between the workplaces and schools of your family. And then use the local knowledge of websites like Property Today to check out the amenities available, and see how popular the area is.

2) Set your budget
With the way the mortgage market is at the moment, there's no point looking at property outside of your financial reach. Work out how much you can afford, and remember that while interest rates may be at 5 per cent at the moment with little chance of going up in the months ahead, that doesn't mean they won't rise next year.

3) Be clear what you need from your home
If you have eight children, three cars and a dog, there's no point buying a first floor flat with one bedroom and limited access! Think about the demands of your family now and how they are likely to change in the future. Growing children demand more space inside and in the garden. Make a checklist to help you when viewing properties.

4) Get your mortgage sorted
With a clear budget and list of needs sorted, working out the amount of cash you need to borrow is a lot easier. However he credit crunch has made it harder to impossible to get a mortgage of 100% of the value of your property, and much harder to borrow 95 per cent or above. This means you are going to need a larger deposit than a few months ago. Don't let this put you off – the banks still want to lend money to people, as they need to make their money somehow!

5) Look at the properties you like
Property Today is the perfect place to start your search for a new home. Follow your internet search up with visits to local estate agents. If you go armed with your checklist it will ensure they are fully briefed and can find the most relevant houses to show you.

6) Pick a property and do a deal
Right now this is a buyer's market. The property slowdown has made people reluctant to put their homes on the market, meaning there are also less buyers about. So when you've found the house you're after, don't be afraid to negotiate. Will the seller really risk a sale for the sake of a few grand?

7) Do the legal stuff
Once you have a sale agreed, you need a licensed conveyancer or a solicitor to sort out the details of the purchase for you. Your mortgage company will ask for a valuation survey to be done. You should also get a homebuyer's report. If the property is unusual or old you may need a full structural survey.