There are times in every girl’s life when you aspire for something more. When it comes to our homes, we would love to buy our own. But property is expensive. Then there is the cost of remodeling and decor to make that property feel like home. It’s not cheap, but it can be more affordable if you take your time and plan it right.
First of all, think small. Your aspirations may be for a beautiful big country estate, but few of us are lucky enough to get that as a first-time buyer! Instead, start small. You can create a beautiful first home for yourself, and then sell on to the next place. You may need to do this several times over many years, but you can gradually work your way up the property ladder. You just need to get on the first rung!
When you’re looking for an apartment for sale, have a budget in mind. Whatever you have in savings is all you have for a deposit unless you can be gifted a sum from your parents. This deposit will need to be at least ten percent of your property price. The more deposit you have, the better. Getting a mortgage is still quite tough at the moment.
Pick a property that has potential. You can decorate it and furnish it in your own style, so ignore whatever is currently there. You are looking for a property in a desirable area, and that has steadily been increasing in value over the last ten years or so. It also needs to be structurally sound and functional. You’ll need to live there for at least a couple of years to make a profit so make sure it is workable for your lifestyle needs.
As a buyer, you are in a great position to see what the best and worst on the market is like. It’s great to be able to check out other people’s decor, and see what they have done with properties similar to the one you will end up with. Ideally, you will be buying a place that is good enough, but can be better. It gives you the scope to increase its value.
Don’t forget that buying a property comes with lots of extra costs. In addition to all the mortgage fees and property lawyer fees, there will be the cost of removals and the cost of decorating to consider. If you are remodeling, you’ll need to have a realistic budget in mind, and some cash set aside to get it done. You may also need to buy some new furniture for your new home.
Buying your first home is so exciting, and it’s very easy to get swept up in the process. It is also very stressful, and things can quickly escalate in terms of costs. Stick to your budget, and try not to borrow beyond your means. It may take money to make money, but overspending could cost you your home and your dreams. Happy house hunting, and enjoy making your new house into a beautiful home.