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First Time Home Buyers Tips

Evaluate your financial situation  

When it comes to purchasing a house, money is needed, and so before you begin, you should have an idea of your financial standing. It is crucial to save ahead of time so that you can have enough; also, have an idea of what type of property you can afford and how long you need to save to build your dream house.  

Create a must-have Checklist  

Having a checklist is a must for first-time homeowners. Just as with any desire, you need to have a plan of what you are looking for. A checklist of the type of home you desire, what features do you want in your home? Which location or neighbourhood are you aiming for? Without a good understanding of the end goal, there can be some drifting from the path of finding your first home.  

Engage an agent  

Engaging a real estate professional to assist you with the buying process will save you time and stress. It might seem rational to look for houses alone; still, an agent will protect your interest and also counsel you through the maze of being a homeowner in Nigeria. Guess what? This is one of the many services rendered by Abbey.  

Think long-term  

When buying a property in Nigeria, you should always think long term. It is advisable to hire an inspector that will be able to find problems that you won’t notice. Also, consider these questions: Do you intend to have children? Will you be dealing with older family members? You may be wanting to live in your first home for just a couple of years. Who is your intended interest group when it comes time to sell the house? These inquiries will likewise assist you with choosing which home is right for you.   

Explore other sources of funding  

Only a few Nigerians know they do not have to bear the burden of owning a home all by himself. With such a significant number of financial establishments in the nation, all offering some home subsidizing. Suppose you qualify for a mortgage in Nigeria. In that case, you can make your application through any of the mortgage institutions such as Abbey.  

Read the contract before signing.  

It is advisable and essential that you read any contract before you sign it, the same goes when you buy a house. A house is most likely the largest purchase you will ever make in your life, so make sure you understand your contract’s terms. If you do not understand any of the terms, ask a professional, either your realtor, agent or mortgage broker. 

One thought on “First Time Home Buyers Tips

  1. Good evening, I contacted one of your clients on WhatsApp and inquire about the mortage loan which he told me I have to own an account with you for at least a year to qualify for that meanwhile I need a house in Abuja urgently, so he advised I email you for any other option available, Thankyou.

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