First Time Home Buyer Tips
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  • October 15, 2017
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First Time Home Buyer Tips

Buying your first home is the most thrilling experiences that one can have in life at the same it can also be one of the disheartening.  Nairobi Property is going to share a few tips for First Time Home Buyer should keep in mind to ensure the process runs as efficiently:
Find some of the First Time Home Buyer Tips below;

1. Research
Purchasing a home in the market today can be difficult. The tough market condition makes it difficult for the borrowers to access mortgage or other forms of loan. Buyers need to do their research on where to get the best mortgage for their home.
A lot of resources exists both offline and online that can assist on this. Some banks offer Mortgage Calculators for buyers wondering how much they will be able to borrow which can be of great use.
These tools are just a guideline and a starting point. Decisions should not be based on this, talk to an expert to advise accordingly since there are some good products and offers that an individual is eligible for.

2. Have enough time
The process of finding and owning a home can be a long one. Have enough time in selecting your project. Do not rush, since you might regret later.
Purchasing your first home is almost certainly the biggest financial decision you will ever make, and it is always important to remember to think critically not to make any bad decision that might make you regret later.
Sometimes a property or home might have wanted you have ever wanted, a very nice kitchen, but that does not mean you should ignore the bad garden or leaking roof or worn out walls.
Take your time and ensure the home and mortgage is best for you

3. Ask for Help, Don’t be afraid
Sometimes purchasing a home is not something that can be done alone. Ask people who have gone through the process either friends or family members they will provide help and support that you need. At the same time it is advisable to speak to a professional adviser to get more options that are available.
Sometimes comparing online guides on the best mortgage or suitable information might not give you the right information that you require. Sometimes they can lead to disappointments or making a rushed decision. Seek independent mortgage advice, this will save you a lot of time and hassle.

4. Plan your finances
Many people sometimes overlook other things, once you have found your dream home and agreed on a mortgage deal, many think that’s it. Many first time buyers are usually unaware of the process that is involved and other hidden charges or costs that might be involved.
Sometimes, before you finally complete on a house or home you will need to pay the legal fees, survey or evaluation, and also other insurance plans that might arise.
Do not be caught off guard, know about the costs and how you are going to cater for them.

5. Enjoy yourself

Enjoy the whole process; enjoy purchasing your first home. Be informed and be on top of the game.