How to Buy a House: Your Top Questions Answered
Thinking about buying a home? You’re not alone—many people ask me the same questions: How do I save for a deposit? How much can I borrow? When is the right time to buy? Let’s break it down.
- Saving for a Deposit: Start by setting a clear savings goal. Most lenders require at least 3-5% down, but putting 20% down can save you on mortgage insurance. Consider automating your savings or cutting back on non-essentials to build your deposit faster.
- How Much to Borrow: Before house-hunting, get pre-approved for a mortgage. This helps you understand what you can afford and keeps your budget in check. Aim to spend no more than 30% of your income on mortgage payments.
- When to Buy: Timing the market is tough, so the best time to buy is when you’re financially ready. Keep in mind interest rates, but don’t let fear of missing out rush your decision.
Ready to start your home-buying journey? I’m here to guide you every step of the way, from saving your deposit to moving into your dream home. Contact me for personalized advice, and let’s make it happen!
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