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3 Easy Steps to Buying a Home

By Chris Porter | November 2, 2017

Investing in real estate is not a simple task like going to a grocery store to pick, pay and leave. It is a bit complicated and therefore has a process. If you want value for your investment in the long run, you have to buy the right way.

For sale sign in yard of house

Unless you live in the UK, you might need these tips when buying a home; especially if you are a new in the scene.

  1. Financing

You have been saving up for the investment right? The only way to enjoy your investment is to work within your budget. You could talk to your bank for mortgage if you want high liquidity. This might depend on your income-debt ratio and the amount of savings you have. You could also avoid closing costs by paying for it without a loan. Whatever you decide should enable you to look for houses within your affordability.

Money matters don’t end with buying, you need to consider building’s insurance, survey costs, stamp duty, monthly repayments, solicitor’s fees, initial furnishing etc. You will need to first do your homework of how much it will cost you to buy and sustain that investment. Then follow the due process of lining up your cash ready for investment.

  1. The Search

You don’t just settle for the first rosy home you can afford. Choosing what to buy will depend on many factors such as location, security, tax rates, neighborhood, proximity to social amenities and even the school district. You might have to do many visits before you settle for an offer.

Enough market comparisons will save you from regrets later on and give you a good cash flow. Make use of referrals and brokers to make sure that you are making the right choice. In a competitive market, it is easy to get lost and conned in the maze.

  1. The big B.

All that process is just a waste if it doesn’t end in buying. Once you find ‘the one’, it is time to get an agent if you are not ready for the bidding war and annoying negotiations. You also have to understand all the details and hidden costs attached to what you are buying. Always have your budget in mind.

Your agent will then help you to make a formal offer once you agree on the price. You will be required to pay earnest money to an escrow account until the deal is closed. With legal requirements and property suits, getting a good lawyer at this point will help you to the close of that deal.


Buying a home is not an act of impulse. It needs sound mind and aggression for it to be successful. The good news is that; you don’t have to go through every process when you can pay somebody to do it. However, you need to be present to ensure that due process is followed. Issues could arise at any point, so you need to be on the know.

What are you waiting for? Challenge your fear and see your dream straight to the eye. It won’t kill you.



"Chris Porteous has significant experience in the financial markets with stints at Goldman Sachs, UBS Securities and DBRS. At DBRS, Chris extensively covered the Mortgage Backed Securities market, Covered Bonds and regulatory changes involved in the real estate markets. Chris currently runs a personal Real Estate Investment Trust with over 15 properties located in South Florida."
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