Afford The House Of Your Dreams By Finally Repairing Your Finances

by - January 17, 2018




If you have been working hard for the last few years and are ready to make a leap and step onto the property ladder, 2018 might be the year when you are finally able to afford your dream home. Experts claim this year will be a buoyant one for the housing market, and as a result, it will be a good time for you to invest in the house you have been eying for a few months now.

If, however, you are worried about the state of your finances and are concerned about the effect these could have on your credit check, it is time to do something about this now. Read on to discover how you could finally afford to buy the house of your dreams by repairing the state of your finances.

Clear your debt

When you are young and healthy, being in debt is something that doesn’t present many hurdles. You know you still have quite a lot of working years ahead of you and that these will give you the possibility to progressively pay off whichever debt you have accrued until you pay back all the money you owe. When we take more firm decisions, however, this is when being in debt could present a problem. If you are at a stage when you are ready to invest in the home of your dreams, you should make sure your debt is all paid, and you owe no money to creditors. No lender will offer you a mortgage if you are in debt and as a result, you should work towards clearing your debt starting now.

Repair your credit

As with the above, a lender won’t give you any money towards property unless your credit score is healthy. While having a credit card is a good way of proving credit checkers you can be responsible in its use, skipping credit card payments and paying your credit card bill late can significantly affect your credit rating. As a result, you should ensure that you remain on top of these payments if you want to secure a mortgage offer. If you are worried your careless attitude towards your credit card payments has hurt your rating, not all is lost, however. Repair.credit will help you fix your financial history so that you are able to afford your first property.

Start putting a proportion of your monthly income aside

Setting foot on the property ladder for the first time can be hard, specially if you don’t have enough funds to convince a lender that you are a suitable candidate for a mortgage. In order to be offered a substantial amount of money towards the home you want to buy, you will need to have a deposit in place, and this will vary between 10 to 20 percent of the purchase price depending on your bank. If you have some money that you have already started putting aside this is excellent news. If not, make sure you start saving money from your monthly income towards building a healthy and robust deposit for your home.


R.C. Willey
Ashley Homestore















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