1.) Don’t spend all your money

It is so easy to fall in this trap and not thinking about tomorrow, especially if you really fall in love with a property. But never let your emotions rule your purse and go for a home you cannot afford because credits only save you as long as you can pay them back. Either go for a home you can safely afford or wait a few year more to be able to get the property you really want.

2.) Get a good credit and pay as much as you can in advance

Make sure you have a good financial plan, with the help of a financial advisor if possible. Credits work the best if you can cover 30-50% of the full sum by yourself and ensure you also have around 30% of the sum in form of savings. This way, you are safe for the first few years, when you need to pay the highest interest rates. Also don’t go for the credit offered to you (most real estate agents have contracts with credit institutes but this is not a guarantee of them offering the best credit). Take your time and look around to choose the best option for you.

3.) The real sum you need to pay

The amount of monthly credit which is told to future home owners is the net amount free of interests and any additional and compulsory costs. This is the lure which works so often and leaves many in financial trouble later on. That’s because with the compulsory and high interests and insurance the total monthly sum you need to pay can go up to being the double of the promised sum. And then, we didn’t even take the rest of the monthly costs you will need to pay for heating, electricity, gas and maintenance. Make sure you see the full picture before signing a contract.

4.) Make sure the home is clean of mortgage and it’s not under any legal procedures

There are many ways to make sure of this. Sometimes the disclosures you get from the owners will not tell the whole story. Border and road disputes with neighbours is a perfect example of this and check whether the owners used a fast sale homes company as there may be a reason for the quick sale.

5.) Buy a home you won’t need to renovate in the near future

Get the house thoroughly checked especially when it comes to any erosion, roof problem, basement issues, bug issues. Have the electricity, plumbing and heating also checked. There are many professionals who can do this work for you and can serve you with evidence if the house is good news or bad news. The best solution is to buy a home which you won’t need to spend on unless you want to in the upcoming 5 years.