Traditionally, you need to have a down payment of between 10 to 20 percent of your home costs saved up before you purchase a home Mortgage lenders did this to protect themselves because it indicated that you were more responsible with their money. Next up on your to-do list: Apply for a pre-approval, the process in which a lender reviews your financial information—like your credit report, W2s and bank statements—and commits to giving you a mortgage for a specified interest rate. It’s pretty easy to plan for each month, but it’s also usually going to be the largest cash outlay each month.
Get a solicitor or licensed conveyancer to help guide you through the legal process. A lot of lenders are able to provide these and then only have to put in house information. The house we wanted had many hidden things wrong with it and we’re not in a position to start spending lots of money on somewhere.
His idea was to work in Singapore to pay for both properties; and when he retires, they could live in the Malaysia house and live off the rental of the HDB flat. You should not waste time searching a house in certain parts of town where there likelihood of finding the house you want is zero.
The answer for all these types of question is that when Mars transit over your 4th or 10th house from the Ascendant or Moon in the birth chart to be a good time to buy or sell a house. Whenever people ask me if they think they should buy a house, I am usually a cynic because I have seen the bad and the ugly side of buying a home.
There are many things involved in buying your first time or second home for investment. In addition to showing that you are financially prepared to purchase a home, saving up for a down payment will allow you to purchase a home that you will like and you will not regret buying.