First Home Ownership: What to Expect

For many people, purchasing their very own homes lies at the very top of their life goals. To help you get ahead and maximise your chances of success, know that no matter how convoluted and lengthy the new home purchase process may be, it can be broken down into a few simple steps. Use the following as a guide to know what to expect:

Plan

Make a list of the features you want your new home to have, such as material details, proximity to necessary facilities, and availability of basic services. Evaluate three to four properties to get a feel for the market.

Budget

Get pre-approved to know how much you can borrow before you start talking to builders and real estate agents. Do this at least six months in advance.

Furnish your loan documents

Once your lender approves your loan, you will receive a loan contract detailing your loan’s terms and conditions. It’s best to have a legal representative clarify these to you before you sign on the dotted line.

Make the offer

Armed with a loan, you may then talk to real estate agents and home builders to make an offer and negotiate the price. Have your representative review the contract for sale.

Settle and move in

Once loan requirements are settled and the home sale closed, you can now move in and start enjoying your home.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s