If you’re one of the five million people in the UK who aspire to buy their own home, you might be wondering what the process is like. A lot of people think it’s just a case of viewing a property, saying yes, and getting the keys.I can tell you from first hand experience, it can be a lot more complex and confusing than that.
There’s deposits, credit scores, and all sorts of other aspects to take into account. Whether you’re in a position to buy right away or want to get to grips with what’s involved before you take the leap, this guide should help.
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Have you saved a deposit?
The first thing that you should do is start saving a deposit for your house. This is, by far, the trickiest part of becoming a homeowner – saving for a deposit. If you have savings, that’s a good start. However, you may still need to save up the extra money that you need to ensure that you have at least ten percent of the price of the property that you want to buy. To make saving easier, budgeting is a must. Aim to save a certain amount each month, to ensure that you’re able to save up what you need.