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Making Your First Home Journey Simple
Buying a house is a big deal—it’s exciting, nerve-wracking, and, let’s be honest, a little overwhelming. But don’t worry! With the right info and guidance, you can take that step confidently and make your dream of owning a home a reality. Let’s break it down.
What’s a Mortgage, and Why Do You Need One?
Unless you’ve been secretly saving up millions (in which case, we’re jealous), you’ll likely need a mortgage to buy a house. A mortgage is essentially a loan you take out to buy a property, and you pay it back in monthly instalments over a number of years (usually 25–35).
Here’s the deal:
- You’ll need a deposit (typically 5–10% of the property price).
- The lender covers the rest, and you repay them with interest over time.
- The better your credit score and financial situation, the more likely you are to get a good deal.
WHY BUY IN YOUR 20S OR 30S?
Building Equity
Every monthly payment you make means you own more of your home, unlike renting, where your money just disappears.
Freedom
Want to paint your walls lime green or adopt a puppy? Go for it—it’s your space!
Financial Growth
Over time, your home’s value could increase, giving you more financial options in the future.
Ready to Start Your Journey?
Buying a house might seem intimidating, but with the right guidance, it’s totally doable. Take it step by step, and before you know it, you’ll be holding the keys to your very own place.
The information here is purely for informational purposes only and does not constitute individual advice.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.