Connect with us

Home Improvement

5 Steps To Buying Your First Home

buying home

So you’ve had enough of the renting life and have finally decided to put pen to paper on that new home you’ve always been dreaming about. While it’s usually a pretty exciting transition, it’s only natural that you are a bit daunted by the prospect of venturing into the unchartered territory of homeownership. To ease that journey, here are five general-rule-of-thumb steps to help you out:

1) Research

Research

Knowing is half the battle and that is exactly the case when it comes to buying a home so don’t forget to do your homework. It’s also important to put your finances in order-through savings and whatnot- so that acquiring a home loan doesn’t become a hassle. Be sure to find out from your mortgage broker just how much you can borrow and the type of loan and repayment plan best suited to your case. Fees may vary from one area to another which may necessitate the application of additional charges or incentives. Usually, lenders will require about a fifth of the property’s value as deposit so set your saving goals somewhere around that mark.

2) Picking out a good Home

vintage

Once you’ve got your finances figured out you can delve into the task of house hunting. Looking for a new home can be overwhelming given the sheer number of properties for sale on the market but you can narrow down that search parameter considerably by determining the kind of life you prefer- the inner-city or out-of-town-lifestyle, how much money you are willing to spend and the kind of design that tickles your fancy. Also, does the house come with the land? This is an important question that could also influence your purchase depending on what you’re looking for.

Fortunately, you don’t have to undergo the horrors of house hunting alone as that’s exactly what a real estate agent is for: to help analyze the properties in accordance with your preference and budget.

3) Getting ready

After submitting your offer or bid (in case of an auction) it’s time to conduct pest and pre-purchase building inspections. Enlist the services of professionals and don’t solely make a judgment off of what you see because the devil lies in the detail and the experts can help pick out those seemingly unnoticeable discrepancies. What’s more, possession of such details will help swing the value negotiations in your favor.

4) Buying

A purchase is only considered valid once you and the vendor have signed on the dotted lines of the contract. Before then though, you or the vendor can opt out of the deal. Different areas have varying policies and buying methods so consult a solicitor to help you understand how property purchases work in that particular area.

5) Moving in

cheers

You’ve finally gotten the papers over and done with and practically the purchase is now over the line. What’s left now? Not much else but to move into your home so congratulations are in order! The only other thing that’s left to do now is just to keep tabs on your mortgage repayment and, of course, the utility bills among other accruing charges.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Recent Posts

Business2 days ago

Spirit Business in China is Booming

The worldwide commercial center has seen fast changes equivalent to the ascent and fall of economies and the determined, exponential...

Lifestyle4 weeks ago

The Ultimate Guide to Coordinate Bridesmaid Dresses

There may be many bridesmaids at your wedding but, bridesmaid dresses can also different as it is the unsaid rule...

Health4 weeks ago

The Origins of Community Care

Nowadays, most people have some concept, big or small of community care. Jobs in the field are constantly growing, and...

Lifestyle4 weeks ago

4 Things You Need to Take on Your Honeymoon

The big day has been and gone and it’s time to set sail for the exotic honeymoon destination. You might...

Travel1 month ago

No Fuss, No Muss – Find out What You’re Missing from Serviced Offices

The serviced office industry has more than gone worldwide. It has transformed modern business in the last forty years to...

Automobile2 months ago

3 websites you can visit to sell your used car for a good price

If you own an automobile, there are high chances that at some point you will start planning to sell it...

Lifestyle3 months ago

A Man’s Style Guide for the Fall

It’s often easy to succumb to pressures of the cold and wet weather that Winter brings by throwing your oldest...

Education4 months ago

Education Aims, Working Position And Its Meanings of Young Nation

The process of defining the meaning of education is problematic and re-conceptualized. An example of everyday life. A multinational company...

Travel4 months ago

Prague – The Perfect City for Your Stag Weekend Adventure

They say what happens in Prague stays in Prague. Well, unless your friends spill the beans, it is more than...

cleaning cleaning
Automobile4 months ago

Basic Automotive Paint Care

While the exterior of your vehicle whether dilapidated or otherwise doesn’t really affect performance, stains and scratches could hurt you...

Business4 months ago

Building a Strong Business

When you’re in the planning stages of your business, you need to make sure you’re laying the foundations for future...

food food
Home Improvement4 months ago

Top 5 Reasons Why You Should Have Homegrown Vegetables

While store-bought vegetables are certainly great foods compared to the likes of junk varieties, they can’t quite hold a candle...

Tech5 months ago

5 Tips to Avoid Errors in the SSD Hard Drive

After a full afternoon of hard work, you open your computer and start Windows. To the surprise and complete misfortune,...

General5 months ago

Looking for Addiction Help with Technology

Technology and its advances are changing everything you can think of, even the way people seek help for addiction. There...

Lifestyle5 months ago

1st Art Gallery Reviews Reported on PR – Tips For Abstract Painting

The beauty of abstract art is that it remains free, regardless of the type of painter. However, there is a...

Categories

Archives

Trending