Buying your first home is one of the biggest milestones in many peoples lives and yet it can put the weight of the world on your shoulders. Here is my top list of things you can avoid to ensure a stress-free purchase!
Don't calculate their finances properly
The first mistake I see is people not actually knowing how much money they make. You have to get to know your income and do the math -- When the bank looks at your income for a loan it is your before tax income, but when you're paying it back it will be your after tax income. What about if circumstances change? Have you added your ten percent account into your budget? *Psst! If you don’t know what that is you definitely want to keep reading!* Are you accounting for these things?
Choose a home for the wrong person
It can pay off to look at your first home as an investment. It's very likely that you'll rent your home out or only live in that home for a small portion of your life. Don't get caught up on all the perfect details as chances are it won't be your forever home. When I buy property it doesn't need to be in a location I necessarily wish to live in.
Not enjoy the process
There is so much information available to you. Free legal advice, articles and courses, coaches, make sure you utilise it all. Don't rush into a decision and make sure you do all your research. Ask questions and remember, it should always be fun and feel inspired. If buying a house feels stressful then owning a house is likely to be more of that! It's not all easy but you should wake up every day happy to work with your new life form.
Do you have anything you'd like to know about buying your first home? Join me in my 2-part telecall all about the ins and outs of purchasing property! https://bit.ly/2GXGIaq