If you are planning to buy a home of your own you may have been planning this move for a long time. Becoming a new homeowner has many advantages, however, there are challenges too. It is worth making some preparation by doing a little research and learning from those who have successfully done it before. Here are some top tips for when you are buying a first home. Consider these points to avoid making some very common mistakes.
Preparing to buy your first home
Buying your first home is a huge rite of passage and is as exciting as it is stressful. It’s certainly not something that you can do on a whim, and it needs some careful planning before you even start considering wallpaper samples and decorative doorstops. You may also be considering whether to buy a house, a condominium or a small apartment to get started.
Check out your credit score
One important thing you’re going to want to look at is your credit rating. If you have poor credit, it’s going to be harder to get a mortgage, so this is the first thing you’re going to want to tackle before you head to the banks. It might just be a case of paying off a little more from your credit card, making sure you’re on the electoral register or using Creditfix.co.uk to help you with some of your debt.
It can feel really daunting to even look at your credit score, but you can’t work on it if you don’t know where it currently is. If you don’t have any credit at all, you can start building it up by getting a credit card, making a few small purchases each month and paying it off in full.
Decide on your must-haves and deal-breakers
The chances are that your perfect dream house, with all the space, storage and decor you want, within your price budget and in a good area, is going to be impossible to find. So before you start looking at homes, you should create a list of things that you absolutely need in your new house. This could be the number of bedrooms, or perhaps you’re a keen cook and really want a decent sized kitchen, or maybe a big garden is the most important thing for you. You may also want to create a list of things that you would definitely not want – for example, having a room in the attic might not work for you, or you might be against being in a terraced house. Once you have these lists, it will make finding a house much easier.
Have a clear-out
Over the years, we all accumulate junk that we simply don’t need. It would be a waste of time and energy moving all of that to a new home, so use this as an excuse to declutter. You could do the Kon Marie method and be sure that you are only taking things into your new space that spark joy. Sell anything that is in decent condition to make some money to spend on new bits for your new home, and take some stuff to the charity shop to cash in on that good karma.
You might not be in the right position to buy a house in the next few months, but that doesn’t mean that you can’t start planning and preparing ahead. It helps to work towards a goal, and the sooner you start planning, saving and decluttering, the smoother the process is going to be when you get around to it. Happy house hunting!
HANDY REFERENCES ABOUT BUYING AND SELLING A HOME