Tips for buying a house

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You’ll get a variety of advice when you start thinking about how and when to purchase a home. Some will be helpful, while others may not. While it may be a lengthy process, purchasing a house is exciting, rewarding, and requires a large commitment. Use this checklist to help you prepare for buying a home.

What can you afford?

What is the minimum amount of money you’ll need to purchase a home? This is the first thing you should ask yourself, especially if this is your first home purchase. You need to decide how much you are able to afford before you begin house hunting. Take into account your income and existing monthly expenses.

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Find an agent who fits your personality

This may seem like an optional step, but it can make buying a home easier. An estate agent can answer any questions, give you tips on what to look for, and help you negotiate a price with the seller. For Gloucester Estate Agents, visit mwea.co.uk/

Be realistic but picky

There is no perfect house. Let go of the small things and focus on what is important. Visualise yourself staying in your home for a long time.

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All your costs should be considered.

Mortgage payments are only the start. Closing costs, property taxes and homeowner’s insurance are also important to consider. Not to mention the basic maintenance.

Keep emotions out of the way (and work to improve your credit rating).

Do not get discouraged when you miss out on your first or second home, or the seller refuses to lower the price.

How can you increase your credit score? Keep your credit card balances below 20 percent. Close any accounts you don’t need. This will reduce your credit history, and make you appear more credible. Paying your bills on-time is the easiest way to increase your credit score.