The Basic Steps For Buying Your First Home

The Basic Steps For Buying Your First Home FOR SALE Be Financially Prepared Be mindful of the costs that comes with home ownership. These costs add up quickly, and if you are not financially prepared, you may end up in a very negative position. Before purchasing your first home, you should take the time to get out of debt and save up an emergency fund. Get a Preapproved Loan Know for certain how much home to buy if you get loan pre-approval in advance. A mortgage broker will look at several different loan companies to find you the best rates. Begin shopping once you find a loan with the correct terms. Know How Much You Can Afford Spending too much on your mortgage can lead to not being able to meet your daily obligations let alone save for retirement. Hire an Agent Agents often know of new listings coming up that are not yet on the market and help you find a home that suits your needs and that you can afford. Ask your friends or colleagues for recommendations. Presented by: Thomas PROPERTY Inner City. East & West III Sources: http://www.bbc.co.uk/consumer/23623491 http://moneyfor20s.about.com/od/financialrules/ht/buyahome.htm http://homebuying.about.com/od/buyingahome/qt/Buying Your-First-Home.htm