First Time Home Buying Part 1/3 : Part 1 Preparing To Buy
Preparing To Buy
Set Home Buying Goal (Why)
- Are you buying for your own stay?
- Will you be staying with your family?
- Do you want to buy it as an investment for the future?
Determine what sort of home suits your purpose because this will help you to have clarity. It will be easier for you find the right property that fits your purpose.
What is the amount you can afford to pay monthly
- Loan instalment
- Maintenance & Utilities
This step helps you map out the expected costs including the additional costs which many first time home buyers miss. This will also help to map out a savings plan.
Start Saving Early
- Save the amount required
- Form a saving habit
- Use for down payment
Now that you have the expected cost, it is time to save! Have a saving plan that you are able to follow and maintain until you reach your goals.
Stay tuned for Part 2: The Buying Process, where I will share what to look out for and common mistakes by first time home buyers.