Advise for first time home buyers

Here are some tips for first-time home buyers

1. Determine your budget: Calculate how much you can comfortably afford for a home, including the down payment, monthly mortgage payments, property taxes, and insurance.

2. Check your credit: A good credit score is essential for securing a favorable mortgage rate. Review and improve your credit if necessary.

3. Save for a down payment: Aim to save at least 20% of the home’s purchase price to avoid private mortgage insurance (PMI) and secure better loan terms.

4. Get pre-approved: Obtain a mortgage pre-approval to understand your budget and show sellers you’re a serious buyer.

5. Research neighborhoods: Explore different areas, considering factors like safety, schools, amenities, and your daily commute.

6. Work with a real estate agent: A professional can help you navigate the buying process, negotiate on your behalf, and provide valuable insights.

7. Consider your future needs: Think about your long-term plans and how the home will fit into them. Will it accommodate changes in your family or lifestyle?

8. Inspect the property: Hire a qualified home inspector to uncover potential issues that may need repairs.

9. Understand the closing costs: Be prepared for additional expenses like closing costs, property taxes, and homeowners’ insurance.

10. Don’t rush: Take your time to find the right home that meets your needs and budget. It’s a significant investment, so make an informed decision.

11. Negotiate wisely: Don’t be afraid to negotiate on the price or request repairs if the inspection uncovers issues.

12. Read and understand the contract: Carefully review all documents and contracts before signing. If necessary, seek legal advice.

13. Plan for ongoing costs: Remember that owning a home comes with ongoing expenses like maintenance, utilities, and property taxes.

14. Get homeowners insurance: Protect your investment with a comprehensive insurance policy.

15. Build an emergency fund: Having a financial safety net can help you handle unexpected home-related expenses.

Remember that buying a home is a big decision, so it’s essential to be well-informed and patient throughout the process.

Invest in Real Estate with DESH NAUTILUS LIMITED and enjoy the benefits that comes with it 

With Desh Nautilus Limited you never go wrong… invest wisely!!  


Address: Plot 11A, Ralph Karirien Crescent, Lekki                   Peninsula, scheme II, Lagos, Nigeria 

Tel: 09063938623,   09028316625

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