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

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Posts

Autos3 days ago

Everything you need to think about before the road trip

Road trips are perhaps the most flexible vacation format: they can be as long or fast, intense or relaxed, planned...

Justice Law In Rural Area: Keep Community Feels Secure Justice Law In Rural Area: Keep Community Feels Secure
Law1 week ago

Justice Law In Rural Area: Keep Community Feels Secure

In order to strive and keep on progressing forward, the judiciary system plays an important role in instituting trust within...

Get The Best Of Dynamics 365 CRM With Inogic Productivity Suite Now! Get The Best Of Dynamics 365 CRM With Inogic Productivity Suite Now!
Tech3 weeks ago

Get The Best Of Dynamics 365 CRM With Inogic Productivity Suite Now!

Finally, at the end of 2020, it’s here. When we started an unexpected lockdown, we were all able to pause,...

How to Combine Traditional and Modern Furniture With Style How to Combine Traditional and Modern Furniture With Style
Home Improvement1 month ago

How to Combine Traditional and Modern Furniture With Style

Are you in love with both traditional and modern furniture styles? Do you feel like you can’t decide between those...

Must-Have Womens Weekend Away Accessories Must-Have Womens Weekend Away Accessories
Travel1 month ago

Must-Have Womens Weekend Away Accessories

If you’re planning a weekend away, there are a few essentials that will keep you looking stylish whilst also being...

How to Organize Your Garage How to Organize Your Garage
Autos1 month ago

How to Organize Your Garage

Do you have so much stuff in your garage, your car is left out in the cold? Keep reading. Your...

Tips On Preventing Accidents In The Workplace and Keep Your Employees Safe Tips On Preventing Accidents In The Workplace and Keep Your Employees Safe
Business1 month ago

Tips On Preventing Accidents In The Workplace and Keep Your Employees Safe

Preventing accidents in the workplace is both the moral and ethical responsibility of every employer. Knowing that there’s a safety...

4 Surprising Ways SaaS Can Be A Game Changer For Small Business 4 Surprising Ways SaaS Can Be A Game Changer For Small Business
Business2 months ago

4 Surprising Ways SaaS Can Be A Game Changer For Small Business

The World Wide Web will never run out of tips and strategies on how to grow your business. These days,...

Understanding SaaS, PaaS, IaaS Prior to Selecting One For Your Business Understanding SaaS, PaaS, IaaS Prior to Selecting One For Your Business
Tech2 months ago

Understanding SaaS, PaaS, IaaS Prior to Selecting One For Your Business

Summary: Cloud Computing is rising at a faster pace, and it’s crucially important for organizations to move to the Cloud...

5 Tips to Avoid Federal Tax Penalty For Taxpayers 5 Tips to Avoid Federal Tax Penalty For Taxpayers
Finance2 months ago

5 Tips to Avoid Federal Tax Penalty For Taxpayers

When you are undergoing a tax issue, then it is vital to have knowledge of what are you up against...

Spy App For Android A Tool For Keeping Workplace Spy App For Android A Tool For Keeping Workplace
Tech2 months ago

Spy App For Android A Tool For Keeping Workplace

Dealing with routine matters has been a lot easier and stress-free thanks to modern technology. Want to order food, use...

How to Create A Backyard Zen Oasis How to Create A Backyard Zen Oasis
Home Improvement2 months ago

How to Create A Backyard Zen Oasis

The lifestyle of the modern era usually depletes one’s energy by the time they get home from work. Whether or...

Mistakes You Need to Avoid When Preparing Your CV Mistakes You Need to Avoid When Preparing Your CV
Education2 months ago

Mistakes You Need to Avoid When Preparing Your CV

Writing a CV can be hard. You have to somehow condense all your experience into 1 or 2 A4 pages....

Home Decor Trends For 2021: What You Can Expect Home Decor Trends For 2021: What You Can Expect
Home Improvement2 months ago

Home Decor Trends For 2021: What You Can Expect

This year, the Covid pandemic has had a huge impact on many different industries and sectors and one which has...

5 Ways to Protect Your Teeth This Christmas 5 Ways to Protect Your Teeth This Christmas
Health3 months ago

5 Ways to Protect Your Teeth This Christmas

Christmas is just around the corner and the preparations are well underway for the festive day, even if it is...

Categories

Archives

Trending