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There are a lot of important decisions to make before you can move into your first home.
While it may be overwhelming to keep track of all of these issues, neglecting to do so can end up costing you thousands of dollars.
We strongly recommend keeping an eye out for the following missteps in order to comfortably enjoy your new home.
NOT CREATING A FEASIBLE BUDGET
Before you even start visiting homes, it’s important to have a good idea of how much you can afford to pay for your new place.
With that in mind, there are two cost categories to consider as a prospective homeowner.
First, it is important to understand the upfront cost of a down payment.
Those choosing to use a home loan from a bank will have to make a downpayment of at least 25 per cent of their home’s value, including a cash payment of at least 5 per cent of the home’s value.
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