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Tips to save money when buying your new home

Tips to save money when buying your new home
By Joana P. . 3 years
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Find out our savings advice when you decide to buy the property

 

You are considering buying housing but hesitant and do not know if you have a financial position to do so? So stay with us and learn six tips to save money on buying your dream home.

 

Search for real estate at the auction

 

Finds many properties at a bargain price in the auctions held by the tax authorities. If you go to the finance portal you will have access to the properties and the dates of the auctions, in which you can sign up. You can also analyze the houses owned by banks and, if you decide to get one, get more favorable financing conditions (sometimes 100%).

 

Collect money for first payments

If you plan to buy your house in advance, you can start saving early for the first payments In this way you get financing more easily and repay the loan in quicker. Not only will you pay lower monthly installments as you will save on interest.

 

Analyze your expenses

You should create a balance sheet of your monthly expenses to see what expenses you usually have and how much you can spend on a loan. This way you will realize what expenses you can eliminate if you need to. You should only proceed with the purchase of the property if you really check what can be done to avoid unnecessary future problems.

 

Choose a home that fits your budget

Do not buy a home that you can not afford or that is too big for your needs. You should choose a housing size appropriate to your household, thus avoiding possible unnecessary debts.

 

 

Compare financing conditions

If you have already made the decision to move forward with the home purchase then you should start comparing the financing conditions of the various banks. Make loan simulations to find the most advantageous for you. Be aware of all existing buying incentives and try to negotiate the spread with your bank.

 

Consider opting for a "second-hand" home

Second-hand homes are more affordable and in most cases are in good condition. Some are sold with furniture, but this often adds to the final price. You must tell yourself to see if it pays off, if you want to buy the house already furnished.