Everyone wants a home of their own. A place where they, with their partner or indeed alone can have privacy and their own space. But, as always, there are considerations to think through first. You need to be sure the move it right for you. It is all too easy to rush forward into a house and then worry afterwards. Make sure you think it all through. Every single aspect. It can make the world of difference and enable you to eventually move somewhere better or reconsider your options. Here are some top considerations you need to think about first. Some you may feel confident about, others less so.
Can You Live With A Roommate?
If you are moving in with a roommate, do you know them enough to make that kind of commitment with? Are you at the place where you could spend extended periods of time with them? Try not to rush and ask yourself these questions. This “should I rent before owning a home or condo? | FAQ guide” can help you decide whether it is right for you. And, perhaps you need to ask yourself if you could afford a mortgage without a roommate; if you can’t, perhaps renting is a better option.
Check Your Credit Score
A few months before you apply for a mortgage check your credit score and do what you can to increase it. Ensure you pay your finance agreements off so you have a closed account on your record which shows you can deal with and manage these agreements. Ensure you have a registered abode, so that you are more attractive to lend to. Consider getting a credit card to and use it to increase your credit score. Make payments on it and pay them off straight away. Your score will increase quite fast if you do so. Use one of the many free credit checking softwares so you can see where you are at and make changes where necessary.
Do You Have Enough Deposit?
You housing market is brutal these days. House prices have been driven up for years with no sign of stopping and the only way to get onto the ladder these days is by using a high deposit. You may find out your deposit doesn’t actually get you much. If this is the case spend more time saving up. You’ve waited this long, what’s a few more months going to change? You can save up a bit more money and get a house more suitable to you. The more money you have the more attractive you are to lenders and the nicer house you can get. It isn’t nice getting so close then realizing you need to save more money, but it is better to do that than jumping for a house you know you don’t really like.
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