STEP 1. SAVE A DEPOSIT
Do you really need that latte every morning from the cool cafe? Save up to $4 per day by making your coffee at home. If you buy coffee 5 days a week x 52 weeks a year that can equate to a saving of $1040.00.
I hear you say that won't buy me a house...however if you cut other unnecessary spending of 19 other items around the same price you'll save 20k in a year!
In order to get a house...you have to go without.
It's a simple concept. Try it.
STEP 2. APPLY FOR FINANCE
Do your research on interest rates and features of the mortgage accounts on offer. If you don't understand finance hire someone to help you.
Applying for finance can be scary. A mortgage is a commitment for 25 to 30 years! The house you purchase now will see you through life's events.
You 'll have security of a home and so will your family. What a blessing! Do it now
STEP 3. BUY WITHIN BUDGET.
Number 1 mistake people make is over extending themselves to get into the housing market. You do need to compromise some times depending on market trends at the time. So think about WHAT YOU NEED VS What you WANT.
That 4 bedroom 3 bathroom double garage home costs more to purchase AND maintain. Why not look at something smaller and affordable in your budget? Rarely does anyone live in their first house for the rest of their lives these days.
Don't sweat it. Get into the market then work from there. Blowing your budget can equal broke in a heartbeat. Remember mortgage stress is real.