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How To Buy A House

by Adelide Kamau

Buying a house can seem like a difficult task- it may cost you expensively and emotionally.

However, careful research coupled with determination can earn you your dream house during the pandemic.

But before deciding to buy, you should first consider if homeownership is appropriate for you.

Renting or buying?

When looking for a place to live, the first question you ask yourself will help determine your decision-making process.

Buying may look good since you will end the increasing rent and can build equity.

But the routine maintenance and repairs can drain your bank account. However, renting or buying depends on your needs.

The following are the basic conditions you should consider before buying a house:

  • How long do you plan to stay there?
  • How much can you afford?
  • What’s on the market?
  • Current market price

This means that as a buyer, you should be ready to make several offers and know that you may need to pay more than a home is listed for.

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If you still can’t decide whether buying is appropriate for you, you can calculate your payments at https://www.mortgagecalculator.uk/ to understand more about differences in expenses.

If your lifestyle and the hard numbers converge towards buying, then the next step is to determine how much home you can afford.

The above site provide additional calculators which have features like estimating mortgage affordability based on income, you can check this at https://www.mortgagecalculator.uk/affordability/ among others.

How Much Can I Spend On A Home?

To determine how much you can spend, you should consider your budget. Check your bank statements and spending habits for the last several months to determine how much you spend.

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Due to this pandemic, homeownership has become more affordable.

Interest rates on mortgages and near record-low territory are approximately three percent. Once you clearly understand your spending habits, consider how much you want to spend on a monthly home payment.

The amount includes your interest, principal, tax, and insurance payment, which add to your monthly mortgage sum.

However, you should note that buying a home involves additional one-time payments that can easily add up, including closing costs, legal fees, and other expenses related to buying.

There are also other payments such as moving or home improvement fees. The pandemic has also caused the financial stakes on the costs for new homeowners to rise.

This is because real estate is competitive; in a bid to get a boost, many buyers have opted to waive contingencies to have their offers accepted.

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Plan your finances

If you have decided to buy, attend workshops, open houses and ask questions to real estate agents, take time to ensure your finances are in order. Other factors that may help include:

  • Check your credit score
  • Decide Digital or analog
  • Obtain a mortgage preapproval
  • Prepare cash
  • How Do I Search for The New Home?
  • Check the neighborhood
  • Compare between different places or homes.
  • Visit the site of the chosen house


Even if you decide to begin your journey on a home search to check the existing properties, you may end up deciding to build to get exactly what you want. Also, you may plan to build but later realize an existing home was better. Therefore, seek the help of a qualified professional to ensure the process goes on smoothly.

Citation: https://www.nytimes.com/guides/realestate/how-to-buy-a-house

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