How much can you actually afford ?
Before you even think about whether you want a two bedroom apartment in Dubai Marina or a three-bedroom villa in The Lakes , you need to figure out what you can actually afford . That means taking an inventory of your income , expenses , assets , savings and debts .
In order to be approved for a loan , it ’ s important that you have a clean credit history . When you ’ ve made the decision to take a loan , get copies of your credit report and check that the facts are correct . If you have a credit issue , ensure that this is settled before making your application .
Before you start looking for your dream home , contact a mortgage advisor for advice on the loan amount you will be qualified for . You can also use one of the many calculators available online to check your affordability . Remember to add in the additional charges that will be part of the property buying process , which includes the deposit ( payable in full according to the terms of your offer ), the transfer fees ( due when the transfer takes place ), loan application fees , etc . Also factor in the costs of moving into a new home , your household insurance and the small costs like buying a second remote , changing locks or fitting a towel rail , which can add up and spoil the pleasure of a new home .
Understanding your budget will allow you to save the disappointment of looking at houses you can ’ t afford and will put you in a better position to make a serious offer when you do find the right property .
What do you want before you go looking ?
You can ’ t start searching for your perfect home until you know what you ’ re looking for . Decide what your actual needs are : number of bedrooms and bathrooms , private garden or spacious balcony with THE view , security , off-street parking , staff quarters , pet friendly etc . Be realistic with your wish list and identify what is an essential ‘ must have ’ and what you would be willing to compromise on . A crystal clear idea of your needs will help you go through the properties for sale and will save you time and disappointment .
Which area is for me ?
When considering purchasing a home you ’ re considering a lifestyle choice that requires you to think about how you like to spend your time and the type of community where you want to live — such as a rural area without neighbours , a high-rise building in a city or a home within a planned community with recreational amenities .
Where you buy your home is very important because once you ’ ve bought it , you can ’ t move it if you ’ re not happy with its location . The area where you buy is important from a security and convenience aspect , and will also influence the future value of the home .
Will this home still fulfil all my needs if later on ?
The expense involved in buying a home can mean that you live there for much longer than you intended when you bought it . Life happens and needs change and sometimes your initial idea of buying this home for a limited time before selling and moving to “ the perfect ’ place just never happen . Because a house is a huge investment , you must be happy with your home for as long as you live there .
Take into account that you may gain or lose a partner , have children or watch them leave home . You ’ ll get older and that beautiful loft area may be hard to reach on legs that are no longer as strong . Plan for the future and make sure that your investment will serve you well over time and that you will always feel that this home is your castle - the place of your dreams .
Buying a house is not an everyday thing ; therefore it must be one of the best times in your life that ’ s why once you ’ ve thought through the emotional and financial aspects of becoming a homeowner , Aston Pearl real estate brokers is ready to guide you through the process to achieve your dream of homeownership .
So if you ’ ve never bought a home before , rest assured you ’ ll be in very safe hands with us . We ’ ll be right there with you from the very first interview until the day you get the keys to your very own real estate . If you ’ d like us to help you call + 971.56.29.66.320 or email us info @ astonpearlre . com
When it comes to first time buyers , we ’ re with you all the way .