Are you ready to make your first house purchase? Then you probably have a lot of thoughts and questions about financing, what to look for when buying a house and a lot of other things. In this article, we will review the key points you need to keep track of when you need to buy, so that instead of taking on consumer loans online, you may have to look for a mortgage.
It is extremely exciting to face his first house purchase. The dreams are great and the expectations may not quite match the reality. Therefore, the first thing you must do before you run into the bank is to sit down and create an overview and make a preliminary plan. Ask yourself where you want to live and how your dream home looks like. Should it be new construction, or is it okay with a slightly older house that might need to be put in a little bit of repair? Do you want to live in the countryside or in the city? Do you have children or do you plan to extend the family in the long term?
Once you have mastered the basic details, look at how the economy looks. The bank will ask you a number of questions about your expected finances to find out how much money you can borrow. They will, among other things, ask for your wages, your monthly expenses, your expected disposable amounts, and they will also ask for your lifestyle. Do you travel a lot or eat a lot at a restaurant? When all your overheads have been paid, how much do you have left for food, housekeeping, cinema trips, and unforeseen expenses? That figure is your disposable amount, and that is what the bank calculates your loan options based on.
As a rule, you should have the following disposable amounts before the bank will consider a loan:
The bank will also look at your total debt. It concerns both car loans, student loans, overdrafts and other types of loans. This information they use to calculate your debt factor, which tells them something about your credit rating.
When you have control of all this information, it is also a good idea to put a budget that you can bring to the meeting with the bank. It shows that you are serious and have a good overview of your finances and fixed expenses.
There are many things you need to take into account when setting a budget. Some of the expenses can be difficult to calculate because you do not know the right numbers yet, but then you can with advantage come up with a qualified bid so that the accounts become as close to correct as possible. There are many things that need to be taken into account when setting a budget.
The list may not be adequate for just your situation and therefore it is important to sit down and create a thorough overview of your overall economy. There will also be things that you pay for now or get paid, which will not be relevant when you first bought. This applies, for example, to housing security . Only when you have a budget you must call the bank and agree on a meeting where you and your bank adviser can jointly find the best loan for you and your situation. It is important to take into account that you must at least be able to pay 5% and more.
Once all the financials have been arranged and you have come to an agreement with the bank on an appropriate loan amount, then it’s time to find your new house. There are many things to consider; do you have to go through a real estate agent or do you have to lead yourself? How big should it be and where should it be? You probably have a lot of dreams and expectations in play, and it can be difficult to find just the house in which you have to turn your roots. You may be building new and having an architect inward. It can also be that a craftsman’s offer is just you; a house where you can walk and cuddle and build and make it your own. Maybe you found the dream house right away, maybe not. It may be you have to go and look for some time before you find it right. It is not to say what suddenly speaks to one. Most houses often have some exciting feature that is just your style. It may be that it has a beautiful garden or some beautiful Greek columns that give the final finish. Or perhaps inspiration has been found in the more extravagant building styles such as the Roman temples or the grand, grandiose casinos around the world. You probably can’t find a house with a lion head as an entrance , but there is definitely something else out there that will fall right into your taste.
A home agent is a person who can help you with the house plans from start to finish. He or she will be your allies and guide you through budgeting, bank meetings, etc. and is from start to finish. You can also contact financial advisors or purchase attorneys – and finally, a construction technical advisor is good to have at hand. The building consultant can advise you about the condition of the house you are considering buying.