BASIC TIPS FOR THE FIRST-TIME HOME BUYER

There is no doubt that Shelter ranks high as one of the most essential necessities of life. 

There is no doubt also that home ownership is better than renting a home because renting is  more expensive on the long run.

Buying a home therefore offers peace of mind if one is properly guided.

To provide that essential guidance, we have outlined some basic tips for the good of the first- time home buyer below;

1. BUDGETING: 

This is an essential planning process. 

– How much do I earn? How much do I have in my savings? 

– What are my other financial obligations 

– Establish self affordability appraisal 

– Open a Mortgage savings account in preparation 

2. LOCATION: 

– Where do I want the property? what are my choices?

It is also worthy of note that the choice of  location heavily depend on income of the prospect. This decision should be taken bearing in mind that high profile locations are more expensive than other locations.

3. Contact/ Engage a Real Estate consultant for professional advice, guide and to  efficiently facilitate the process to home owner-ship 

4. PROPERTY SEARCH 

– Clarify property types/sizes

– Check out property options through trusted and credible Agents or platforms 

– Due diligence/Documents search and verification through relevant professional 

5. Decide on mode of purchase – Outright purchase or Mortgage option.

– If Mortgage option is desired, contact a credible Mortgage Bank for mortgage process.

Actualize your own-home dream and enjoy your freedom from tenancy.