|Prepare to Buy|
Preparation is the key to buying a home successfully. Before you start calling your bank and attending house inspections spend a moment getting up to date on the basics of home-buying.
Understand your finances
Buying a home is an emotional process, but your finances will ultimately determine the house you buy. Make sure you can answer these questions about your finances before calling your lender:
Make a plan
If you're trying to save up a deposit follow these steps to reach your goal:
Step 1 - Start your savings plan by creating a budget
Step 2 - Open a online savings account, specifically to save your deposit and make regular contributions.
Step 3 - Use a savings calculator to estimate when you'll reach your required deposit
Step 4 - Consider paying lenders mortgage insurance to reduce the deposit requirement.