Having your own home could be your unaccomplished dream. Since we reach our teenage age, we dream of having our own place so we can get rid of our parents and take our lives in our own hands.
Once we get older, we realize that this is not something that easy to accomplish. Staying with rent is an option and most of us are, but having our own place remains our dream. This implies many sacrifices and expenses.
In the following rows of this article I will try to give you some tips and hints on how you can do it properly even if it for the first time. You might have heard many people complaining that they were scammed in various ways and that they regret buying a house that did not worth the huge amount of money that they have paid for it.
You do not want to be part of this category of people so this article should interest you allot.
It is hardly possible to save money to buy a new house with cash. Usually you will need accredit do it. It is a big expenditure and from your monthly income you could not possible gather the entire amount. What it is possible is to save money for the down payment.
You should check the bank’ offers and see what percentage they require for the down payment. This is not the only thing that you should check. Also the amount that they can give according with your income, the period for which they can loan you the money and also the interest rate. Usually the down payment vary between 15% – 20% from the entire value of the loan.
You do not have to go to each bank to request a calculation. You can find on these banks websites various applications that allows you to calculate yourself the value of your down payment according with the amount you want to borrow.
Do you afford it?
As I said earlier not only the down payment must be calculated. All the other costs involved by such loan must be considered before you make any step. You will not have to pay just the bank costs but also your personal costs such as bills and food. In this case, can you afford it? If the answer is yes then you should make further steps to get the needed loan for the needed house.
Your credit score
What is of a great importance when you plan to get a loan, and we are talking about a big loan right now, is your credit score. Before taking any step, you must check it. You have the possibility to do it for free.
If there are any errors related to your credit history, you should fix it before requesting any loan from any bank. If your credit score does not look as it should because you also have some other debts you should clear those debts so they will not stand in your way of getting the dream house.
If you dream to buy a house and a car you should not do both. Especially you should not make a car credit and after that request a house credit. Your incomes will be decreased and the amount you will be able to receive from the bank will decrease as well. Therefore, if you planned to make a credit for personal needs you should postpone it for a while.
My name is Aura and I am a very active woman. I like being like that because I consider that I have many things to learn from this life.
The main reason why I started to write, was to increase my income. In time I realized that this was not my real goal. I wanted to prove to me, that I have the ability to communicate through writing with people around the world.
I like the idea of sharing my knowledge and experiences with other people even if sometimes they may not agree with me. This is maybe the most important thing in this job. You must allow other people to come with their own ideas backed up by solid arguments.
Another thing, that made me fall in love with writing, was the fact that I can do, even if I do it in my spare time, something I really wanted to do my entire life. Expressing myself through writing gives me the freedom that I can’ t find when I am at my daily workplace.
With all these things being said, I hope you will find my articles interesting and useful.