5 Things Nobody Tells You About Buying a Home

Buying a house is one of the most exciting things you will ever do, it’s also one of the most expensive, so it pays to have your facts straight and know as much about the process in terms of the personal and practical as possible.

With that in mind, here are a few things that nobody ever seems to tell you about buying a home:

1. If you use an online real estate agent you’ll have to conduct your own viewings

There’s been a real boom in online real estate agents like Purplebricks that promise to save you money if you use them instead of traditional estate agents. However, what is often not mentioned is the fact that you will need to conduct your own property viewings if you go down this route, and that’s why it is so cheap. Good real estate agents are worth their weight in gold because they know how to sell a house, so before you make the decision, weigh up the pros and cons carefully and really think about how good you would be at selling your home to someone else, warts and all.

2. Finding a home will be like an addiction

Now that we have tons of websites and apps to help us find the perfect home, househunting can become an addiction. You’ll find yourself browsing through local listings every time you have a spare moment and it will start to drive your friends and family crazy as you constantly ask for their opinions, but it will all be worth it in the end when you have your dream home, right?

3. It is possible to get a mortgage with no deposit

Okay, so most people are going to need a deposit or around at least 10 percent to get their mortgage approved, but it is still worth noting that it IS possible to get a mortgage with no deposit at all. Some guarantor mortgages will enable you to buy a home without putting any money down, but as the name suggests, you will need to have someone who can vouch for you, so it may be a long shot.

4. Being single isn’t an issue

A lot of people are under the impression that being single will count against them in any mortgage application, but this is not the case. The only potential benefit of having a partner when you apply is that your combined salaries will put you in a better position to borrow more, but other than that, what really matters is your own income, outgoings, and the level of savings you have, as well as, of course, your credit score. No partner required.

5. It doesn’t have to be stressful

It’s taken for granted that buying a home is a stressful experience, but it really doesn’t have to be, If you get organised, do your research, and don’t set your heart on one specific house, it can actually be a lot of fun; it can be a breeze.

Good luck buying your new home!