Recent reports suggest that the property market is recovering at a faster rate than the wider economy, with house prices continuing to rise. As consumer confidence grows and market competition returns, many people are thinking about moving house, or indeed buying their first home.

With that in mind, here are some tips for buying your ideal property.

Buying a house is one of the biggest expenses of your life, but one that you make without doing a "test run". The first night you spend in your new home will be only after you are the registered owner. So, on the strength of a short viewing, you'll decide whether it's right for you.
One of the main reasons for buying a home has to be the investment opportunity, and I don't mean in terms of getting a return on your money - just gaining some collateral. Buying your own property is far superior to renting a home - you will often pay more, but at the end of the day you will be paying your own mortgage and not someone else's.

If you are a first-time buyer, you must ensure you have enough money. It is very easy to get swept up in becoming master of your own domain, but there are many things that new buyers have to consider and also budget for accordingly.

On top of the deposit, a few of the things you may not have considered include the cost of furnishing, repairs, surveyor's fees and solicitors. The list can be exhaustive depending on the type of property and its condition, so do your homework and cost up the price of everything.

Stamp duty is another factor. The Council for Mortgage Lenders (CML) recently released a report indicating there was a rush to secure mortgages before the end of the stamp duty holiday in December 2009 which coincided with a recorded rise in house prices.

Other quarters say that the property market is growing irrespective of the stamp duty holiday, citing recent sales and increases in sold house prices since the end period.

For buyers in the UK, stamp duty works out at one per cent on properties between £125,001 and £250,000, three per cent on homes between £250,001 and £500,000 and four percent for houses above this price bracket. For many budgets stamp duty isn't a concern, but if you are looking at a home above £125,000 remember to consider how much it adds on to your costs.

Using a recommended solicitor is another good piece of advice. Ask around friends and family who have moved recently and were happy with the process. A knowledgeable solicitor can ensure that the whole process runs smoothly.

Before you begin your search, make a checklist of all the things you want in your new home, such as number of bedrooms, if you need a garden and if the school catchment area is important. There are always compromises, but having your requirements written down makes the selection so much easier.

You can sort out your mortgage with your lender before you even begin looking. With this out of the way, you are free to enjoy the hunt. It also gives you an advantage in the buying process over someone who has yet to arrange a mortgage.

Finally, a word of warning - sold house prices today may not be the same as tomorrow, so - although at the time of writing we've just emerged form a recession - your property may go down in value as well as up. ezinearticles