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How to buy a home in 2022

Buying a property is a big commitment. If you stop to think about it, it will probably be the largest purchase you make in your life (unless you are planning to buy something like an aeroplane or your private island).

If you are planning to buy a house or apartment, there is a certain amount of planning that you should do beforehand. If you do not plan, it can turn out to be your most costly mistake.

So, what are the steps for buying a domestic property in 2022? This blog can give you some tips to help you make that all-so-important run-up to your dream home as easy and painless as possible.

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1. Make sure that you are financially prepared for such a big step

It’s all well and good to dream about your perfect home. But can you actually afford it? Even before you start shopping around for properties, it is essential that you go through your financial situation and find out what you can afford. It’s no use being take round places which are far out of your reach. Therein lies frustration and eventual sorrow. Make an appointment with your bank and they will be able to guide you further. Before your physical meeting with the bank, ensure that you have all the right documentation ready.

2. Ask yourself: Am I really ready to buy a property?

Buying your own property is a big responsibility. Are you ready for that? Are you financially stable? It is not the same as renting, where many things are sorted out by your landlord. Once you buy a property, certain things, like maintenance and house insurance, will have to be taken care of – and paid for – by you. And, of course, you will have to pay the bank the monthly mortgage. If you are living paycheck to paycheck, for example, this may be a problem.

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3. Is the timing right?

Apart from you being ready financially, you also have to ask yourself if it is the right time for you personally. If you are going through any upheaval or if you are in a situation that may change suddenly (such as a possible change of job), it may be wise to put the brakes on as far as making any large financial decisions until the situation is more stable.

4. Save up for any additional initial costs

Once you have been to the bank and found out what how much it is willing to lend you, it is wise to make a list of other costs that you will need prior to the purchase of the house and make sure you have the money to pay them.

5. Make your calculations on how much you can afford to spend on the property itself

Finally, sit down and make a budget of how much you can afford to spend to purchase the property, and stick to it.

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Only then are you ready to begin house-hunting. Best of luck for finding the house of your dreams!


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