Signing that contract and buying your first home can be an exciting time, and once you set things in motion it's all go, go go!

Over the past few weeks, we've hosted a series of brunch events with AIB where experts shared advice and tips for first time buyers. If you missed the events, fear not! Some of our speakers have shared their best tips on what to do once you're ready to buy your first home.

Buying

One of the speakers at the AIB event was Brian McCarthy from Martin & Moran Property Advisors. We joined Brian to discuss buying a house, first time buyers and he shared some tips: When it comes to buying your first home, Brian says, "I feel very strongly that people should enjoy and take in the experience, try not stress too much." Naturally, this is easier said than done but it's important to not put too much pressure on yourself or your partner if you're buying together. Viewing house after house can be very full on so it's important to work viewings into your normal routine as much as possible. Brain says, "Break up viewing days so you have a clear head after a couple of viewings". Finding the perfect house, in the perfect location, at the perfect price is a very rare thing - in fact it's almost impossible! When it comes to location, Brian suggests making up a list so you know what to look for and what not to look for. "Look at everything - a viewing costs nothing." Go to areas you're interested in buying in and fully scope it out. It's great to get out and walk around the area too, or cycle. You'd be surprised at what you might notice when you're not focused on driving/ Another great tip is to follow the leading property developers to stay in the loop with new developments. Staying ahead of the pack, you can register your interest in potentially buy off plan.

Bidding

Budget is key when looking to buy your first home, just because you've been approved for a €300,000 mortgage doesn't mean you head to Daft and search for houses at that price. Unfortunately in the current heated market, bidding is a situation you may find yourself in."Come back from your top end and give yourself room to bid." When it comes to bidding, trust your head not your heart. Ask what the position other bidders are in - do they having funding for example. If for example you're not in a property chain and have no previous home to sell, you're already in a stronger position and have full finance in place. This always helps if you're outbid, the other bidders finances could fall through meaning you'll be first in line for the property. Bidding can get out of hand, so don’t ever feel pressured into making a bid - it's your money and it's your call - not the auctioneers! His final tip on bidding? "Don’t finish on an even number - if your limit is €300,000, bid for €302,500 this way if the other bidder had a budget of €300,000, you'll have knocked them out, if they bid again it will need to be for €305,000 which means you're out and can just move on. On the other hand, if your offer is accepted you'll more than likely find the €2,500 from somewhere." If you’re ready to find out more about the mortgage process or meet an advisor, you can make an appointment here