It's been a few years that my family questioned why I haven't had the interest to get my own house. Only later a few months back, I finally put my interest in looking for houses.
Looking for houses was fun and games, until when it comes to the actual process with the Bank for the mortgage and stuff.
During the searching experience, I also finally figured out the reasons why millennials are harder to get a house, compared to the older generations. Which, got me to understand why the process was quite of a journey for me.
The process for me to finally got the house was quite long and too many going back and forth because no one seemed to tell me in detail what I might need to prepare before I can finally get my house.
So you won't need to experience too many troubles as I did, here are some pro tips you can prepare to get a house, in this case through a Bank's loan or mortgage.
Saving Up! It's Not Only about Down Payment!
When it comes to buying a house, the money that you will need at the beginning is not only about the Down Payment. During the process, you will face a lot of paperwork, going here and there back and forth, and not to mention also the first few weeks of moving, you will need some of the main furniture or repairments in the house ready. For that, it means that you will still need a lot of money.
If the house and the bank usually require around 10% - 15% of the price for the Down Payment, to be safe, it means you should have your money ready to be around 20% - 30% of the house's price. This extra money will be used for the extra expenses that you will face along the way. So, the first pro tip is for sure SAVING UP!
Be Patient! You Don't Always Need the Newest Smartphone!
Still, with the same energy as the saving up, you should also be patient. The saving up process and the searching process are going to take a really long time and a lot of effort. Be patient, and be more mindful with your spending. You don't always need the newest smartphone. It's okay to stay with the same one for a few years until you get your dream house :)
Keep Looking!
To know where to look, is also important!
Living in the modern era, we are actually being fortunate that we can look for houses through the internet first, before actually visiting the house. There are a few property websites that you can use to look for houses. Some of the websites that you can go to look for houses are the following: