Looking at Houses for Sale in Sidmouth?

Many people choose to holiday in Sidmouth because of its location on the coast and its natural beauty. If you visit often, or want to live in Sidmouth full time, you should consider purchasing a home there. If you're considering relocating to Sidmouth, or simply moving from one area of the town to another, here are some of the things you need to know about purchasing a new home in the area.

The first thing you need to do in seeking for houses for sale in Sidmouth is figure out what your monthly housing budget is. Keep in mind that your mortgage is only a part of this. You also need to determine how much it will cost to get insurance on your new home.

When calculating your monthly housing expenses, don't forget council taxes. Properties are valued in bands, with each band paying a different amount in taxes. Discounts are available for many people, so make sure to check for those when trying to figure out what your monthly tax burden will be. There's a good chance that the taxes you will owe in Sidmouth will be different from those you owed in other counties. Sidmouth falls under the jurisdiction of the Valuation Office Agency in Exeter and you can direct all questions or appeals to a valuation officer there.

Your next order of business is to find the funding to make the purchase of your new home. For most homebuyers, this means finding a down payment and a mortgage. Those who already own homes likely have some funds available in the form of the profits from the sale of that home. This may be enough to cover the entire cost of your new home, depending on how much equity you've got built up, and if so, you won't have to worry about securing additional funds.

In most cases, the amount you'll have remaining after settling the sale of your old home will make a good down payment on new houses for sale. If you don't already own a home, you'll need to start saving to build up a reasonable down payment. Once you've got a down payment, you'll need to arrange for a mortgage to cover the rest of the purchase price.

Banks offer mortgages based on percentages of the total cost of the purchase price of your Sidmouth home. This percentage is what is left of the purchase price after your down payment has been factored in, with larger down payments meaning smaller mortgages. It may be possible to secure a loan for as much as 100 percent of the purchase price, but these loans are often given on unfavorable terms and do not make good investments for most homebuyers. Try not to get a mortgage for more than 90 percent of the purchase price if you can avoid it.