Once you’ve committed to buying a property, the largest ongoing cost undoubtably is the mortgage, which in simple terms, is a loan secured against a property. If you are unable to keep up the repayments the lender can reposes the property.
When buying a property you’ll need to have an idea of which area you want to live. Look a places that have good economic vitality with good incomes and low unemployment. Even if you don’t have children, look at areas that have good schools, you may find this adds value to your property and will put you at an advantage if or when it’s time to sell.
Find out about other properties on the market in the area. Are these homes reaching the asking price? If so, this is an indication the the area is desirable.
Also, consider putting off your house hunting until the winter months. You may find there’ll be less competition and therefore easier to negotiate with sellers.