What to know as a first time home buyer

As a new person in the real estate market buying a house for the first time may be overwhelming and somehow complicated but you don’t need to see it as such, just following these basic guidelines with a little help from an experienced professional will help you to make the deal successful.

•    You cannot invest without capital, as a prospective buyer you should as well make the finance that is needed for the investment available, you have to decide and also maintain the actual amount you want to buy the property, it is better to save such money till it is required to make a payment.

•    Before you brief, the professional agent about your decision of buying a home it is wise to have a reasonable expectation of what you want even without seeing the property you intend buying.

•    Purchasing a home is not what you can do all alone it is advisable that you brief an experienced professional; like estate manager or estate brokers etc. it is their duty to be the mediator between you and the property owner and also help you conduct the necessary search you need to get your choice home.

•    Since real estate investment requires huge capital, most times you may not have the finance for the investment, it is normal to research for any loan scheme and apply for it in order to get the capital you needed for your investment.

        But before getting funds from any mortgage bank try and consider their collateral and when you have finally gotten the money,try as much as you can to use it for what it was intended for, do not channel the fund to another investment to avoid mismanagement which will lead to foreclosure.

•    From what you brief your professional estate agent will give him/her an idea on what to research on from his management portfolio, and based on his market survey, he will make his choice from other alternatives that are presented to him by the estate agent, most time you are advised to choose a home based on the information he got from his inspection of the properties not what he was told.

•    Commission is necessary when you have chosen a house, it is better to make a payment to the property owner in order to secure the property before the full payment because if you do not commit the property owner another person may make payment and there is nothing you can do about it rather than to look for another alternative.


Before closing the deal which is making the full payment and collecting your necessary documents make sure that what you are paying for is a place you can call a home,don’t forget you are the one that will live there.