There is no time like the present to start working on your goals
and dreams.
When it comes to buying property, the rule is exactly the same:Â
it is extremely important that you prepare for your home buyingÂ
journey as soon as possible.
You might think that there is still enough time left, but look -Â
we're starting a new year!
You wouldn't want to find the perfect house only to realize thatÂ
you forgot major things during your planning stages.
Here are 5 easy ways you can prepare for your home buying journey:
#1 - Got credit?
The first step is to verify your credit score. It is highly unlikelyÂ
that you will be able to buy a house cash and you will probably needÂ
to go to a bank for a loan.
By verifying your credit score you make sure that you are clean as aÂ
whistle before approaching any institution.
As a South African, you have the right to review your credit score onÂ
an annual basis and it won't cost you a cent!
#2 - The debt-rimental step
This is the trickiest step and sometimes debt is the one thing thatÂ
can drag us as home buyers down.
However, it is extremely important that you keep an eye on your debtÂ
as often as you can. Keep track of any money that you have borrowedÂ
or anything that you have to pay off.
And, the sooner you start lowering your debt, the better your recordÂ
will look when applying for a home loan.
Banks are more prone to loan money to those who are stable, so avoidÂ
opening new credit cards or even switching jobs anytime soon.
#3 - Go shopping...for mortgages
Gone are the days where we have to travel from one bank to another toÂ
apply for a mortgage only to get shot down and start all over again!
Repeat, rinse! Repeat, rinse!
There is a wonderful solution that will help you on your home buyingÂ
journey: a mortgage originator.
A mortgage originator will assist you by applying to several majorÂ
banks on your behalf, but without the headaches and the fuss. What'sÂ
better is that s/he will automatically find you the bank that offersÂ
the best rates and interest on your home loan.
Just imagine all the free time you'll have to think about decoratingÂ
that new dream home of yours...
#4 - Remember that deposit!
For many people, a deposit is regarded as a curse word and often seemsÂ
like a form of punishment.
However, when it comes to buying a house, the deposit can become yourÂ
best friend.
Keep it simple and stick to something affordable.
#5 - Keep it real with your estate agent
Make sure that you choose your real estate agent with effort and care!
Ask around if you are unsure about someone. In the end, this is the person who will lead you to your dream house or who will turn your journey into a nightmare. They should know the area and the market well enough to make sure that you make an informed decision.
These 5 tips should make your home buying journey run smoothly - and why not start right now? Now is the time to start planning, because tomorrow might never come.
SOURCE: Immoafrica
