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Things to do when preparing to buy a house 



Buying a house can be a very stressful thing financially. Given the current lending rates issued by banks, one will be hard-pressed to make house payment without having to make a lot of sacrifices. Therefore, to ensure that you are in a good position to get a solution through borrowing, there are a few tips you should have in mind to ensure that you are better placed to get the loan.



For starters, your credit worthiness will mean a lot to whether or not you will successfully get your money to buy the home. Do not destroy your creditworthiness. If you are looking forward to approaching the bank to get a mortgage soon take care not to take a large chunk that will be difficult to pay back. There are many things that can drive you to take a big chunk of money in form of a loan. It could be a car you are looking forward to buying, marriage or a business that needs financing. All these will force you to take a big loan, therefore, requiring that you remain locked in the payment for as long as you are compelled to. This will reduce your chances of accessing a loan and as such; you need to refrain from doing so. Do not forget that you will need extra money for paying your conveyancer and any stamp duty!

Keep your credit worthiness intact. Before you make your way to the bank, ensure that you have put in order all the credit payments you were required to make. This will include any outstanding loans. Credit card payment and any overdraft you might have made during the time you was a client of the bank. 



There is a lot of this that can happen to your job that may affect your credit worthiness. It could be a demotion or retrenchment. This can cause a dent in your creditworthiness and as such, do whatever you can, reduce the chance of this happening. If you can help, do not change jobs without properly assessing the impact of your bank balance. Any sort of changes that occur to your job raise eyebrows, and this is not good for you if you are to argue out your case to the banks.



Once you have kept your credit worthiness decent, find that one property you really want and focus on it. Do not waver between multiple houses or property for that matter. This will complicate matters for you and thus make you unable to meet all the budgetary needs as adequately as you may want. The farther you go into the path of funding multiple properties, the further your financial needs increase and as such; you will be in debt in a short time.