Mortgage expert Tayo Oguntonade bought his first home when he was just 22 years old. He spoke to The Mirror about securing a home in this fast-moving property market
There are many trials and tribulations when it comes to buying a home.
First, you need to scrape together enough for your mortgage — and that’s certainly no easy feat as the cost-of-living crisis continues.
Then you need to find an affordable property, make sure the buyer chooses you when there is competition, and cross your fingers that the sale goes through.
It’s definitely easier said than done – that’s why we enlisted the advice of a mortgage expert who can share important tips on buying a home as a first-time buyer.
Real estate expert Tayo Oguntonade currently appears in the third season of The Big House Giveaway on channel 4.
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He also runs @brickzwithtipz – an Instagram account that provides a breakdown of the latest advice for first-time property buyers.
It’s easy to get discouraged when looking for a home – especially if you live in an area where there are few properties on the market.
Now Tayo has shared a key way to try and secure your dream home for sale.
He told Der Spiegel: “There is a lot going on in the real estate market at the moment and demand is very strong.
“My concern is focused on showing first-time buyers what they can do. I think it’s important to think about what you can do to make sure you’re the first person to look at this place.
“I always tell people to turn on instant notifications so you get an instant text or call when there’s a new property near you.
“If there’s anything in the area I’d call the agent straight away and if they have a vacancy on Saturday try to say you can’t make it and go in earlier.
“I’ve done it before and managed to buy the house before it ran out for other viewings, they canceled them all.
“We made an offer and they wanted to wait until Saturday for the other viewings, so I upped the offer a bit and they accepted.
“I also love looking at properties without pictures because I know no one else will look at them. I’m always interested in getting in there as soon as possible.
“We have to be a little smarter with our approach than we used to be.”
Tayo advises prospective buyers to register with all real estate agents in the area – they receive properties up to five days before they appear on Rightmove.
Eager real estate agents may offer to show you a property before it is listed if they know you are a motivated buyer with the money.
The Great House Giveaway brings together first-time buyers of different skill sets, and then the show follows the journey of renovating a home bought at auction.
The houses are then sold, with the profit split between the two – which helps them build up a deposit for a mortgage.
Tayo, who is also a mortgage broker, already has an impressive portfolio of homes, having bought his first home when he was just 22 years old.
“I think the affordability of the current real estate market is actually forcing some first-time buyers to consider a fix-me-upper because it’s going to be cheaper,” says Tayo.
“In the past, people would compromise to have two bedrooms instead of three, or move miles from their family home.
“Nowadays, people compromise by buying a house that doesn’t have a working kitchen because that’s all they can do to get up the property ladder.”
Speaking about the BAFTA-winning show, he added, “It’s for ordinary people, and they have to do it in a real-life scenario.
“You watch people who want to be real estate developers renovate a house and you get to watch them. I think that’s why people love the show so much.”
https://www.mirror.co.uk/money/im-mortgage-expert-heres-vital-26927653 'I'm a mortgage expert and here's an important tip to help you buy your dream home'