There comes a time in everyone’s life when they know they’re ready to buy a house. Being a first-time buyer can be a little daunting, and as buying a house is probably the biggest investment you’ll make in your life it’s important to be prepared. From finding the perfect place, to securing a mortgage from a mortgage provider like Virgin Money and getting that offer spot on, there are loads of things that you’ll need to get right to make sure you safely plant your foot on the first rung of the property ladder. I recommend Australian readers have a look at a reputable mortgage broker such as Smartline, as they have advisers in all states and territories.
Finances aside though, when do you know if you’re ready to make the move? After all, renting can be fun (for a bit). You have a bit of freedom and you may even live with friends. Life is good, but things can quickly change. Once they do, buying your first home may be the perfect next step. Here are a few pointers to help you understand just when the right time might have come.
Your savings have started to get you somewhere
You’ve been putting a little aside each month, and your savings have started to grow. You’ve been saving for something. You’ve got a little money. You probably know deep down what that something is.
Homeware shopping excites you
So you’ve never been interested in shopping for household furniture and the thought of spending many hours trailing after your better half while they browse the shelves, makes your stomach turn. But for some of us, the feelings fade. In some cases they are even replaced by excitement. If this is you, then you’re making the change, and the blank canvas of a new house could be on the horizon.
You’re becoming one of them
You once had no interest in joining the queue of people standing at the window of the estate agent peering in. Their eyes lighting up with excitement as they browse from one property to the next. But things have changed, and you’ve started to do it involuntarily. You’re browsing websites of new home builders during your lunch hour and even during working hours – you definitely want a move. You’ve grown up. But you know what, you’re excited about it. Change is here, embrace it.
You’re credit conscious
Renting can be perfect, but there may come a time when you prefer a house of your own. And then you find yourself thinking about your credit rating. Not only that, you’re thinking of ways to improve your score. You’ve got that credit card and you pay it off on time. Gone are the heady frivolous days of shopping sprees and interest payments you enjoyed so much. After all, when looking to buy; credit is king. The time has come. Go on. You know you’re ready.