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Apart from losing weight, getting fit, gaining better control of your finances, and getting that promotion you have been dreaming of, buying your first home this year is also a worthy 2023 goal.
New Year's resolutions can change your life if you are determined enough to see them through. To succeed, you need specific goals, careful planning and realistic expectations. Buying your first house can be very daunting, filled with a lot of fear and a lack of information and understanding. Fear of committing to long-term debt; fear of market volatility, like interest rate hikes that can affect the ongoing affordability of a home loan.
There’s also the fear of maintenance costs, which fall on the owner’s shoulders and are something a tenant never has to contend with. There is also the fear of the loss in value of a property, driven by an economic market that is unpredictable.
The home-buying process is undoubtedly one of the most nerve-racking experiences one can have. Pre-approvals, home loans and credit scores will have you frazzled. Don’t forget about the post-sale expenses such as furniture, water and electricity, rates and taxes, security and all the other costs associated with home ownership.
Remember, forewarned is forearmed – having a clear plan in place and an understanding of the home buying process will ensure you avoid costly mistakes and successfully purchase your first home quickly.
Here are some actionable plans to get yourself ready to buy your first home:
For enquiries Text, Call or email #yourhomegirl Justina Hamupembe
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