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Your guide to buying your first home

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Congratulations on taking the first step towards owning your dream home!

We understand that this journey is both thrilling and a bit overwhelming, especially if it’s your first time. At Well Money, we’re here not just to provide information but also to guide you with empathy and expertise, making the entire process as smooth as possible for you.

How Much Can You Borrow?

The first crucial step before even browsing for houses is to know your borrowing capacity. While online calculators give you a rough estimate, our expert team at Well Money offers personalised advice to help you understand your true borrowing capacity. We aim to help you avoid any unexpected issues down the line, ensuring that you make informed decisions. 

Understanding Your Purchase Budget

Once you know how much you can borrow, you’ll need to work out the budget for your purchase. This includes considering any upfront deposits you have saved up is sufficient for the purchase you intend. You’ll also need to understand the total costs of purchasing as this may affect your end deposit amount.

Understanding your budget is particularly important if you’re considering participating in property auctions; it ensures you won’t go beyond your means. Our team will assist you in identifying your purchasing power and provide guidance on setting a realistic budget tailored to your financial situation.

A Beginner’s Guide to Winning at Auctions: Why You Need a Pre-Approval

Auctions can be daunting, but they don’t have to be. Setting a strict ceiling for your bids can help keep you from getting caught in a bidding war and going over budget. By getting a pre-approval with Well Money ahead of time, you can step into the bidding field with confidence.

Partnering with Well Money means you’re not just prepared; you’re equipped with a bespoke bidding blueprint. We ensure that when you raise your paddle, it’s with the certainty that your move is measured, smart, and within a budget that keeps your dream home within reach.

Our expert team will guide you through the pre-approval process, ensuring a smooth path to homeownership.

💡 Read more:How to buy a home at auction

Making Informed Decisions

Every step of the homebuying process is crucial. For instance, a sudden change of job or new loan could impact your mortgage eligibility. The Well Money Home Loan Experts can help you navigate through various scenarios and make informed decisions that align with your long-term goals.

Preparing for Additional Costs

Buying a home comes with other expenses like government and mortgage stamp duties, valuation fees, and conveyancing costs. To give you an idea, these could range from an additional 2-5% of the home’s value. Ensure that you have a clear picture of all costs involved, offering you a transparent path to homeownership.

By choosing Well Money as your trusted partner, we assure you a seamless journey to achieving your dream of owning a home. Your conversations with us is complimentary, allowing us to better understand your needs and explain how we can help. So why wait? Take your first step to becoming a homeowner today.

Ready to make your homeownership dream a reality? Book your complimentary consultation with our experts at Well Money today!

Contact us to discuss how we can support your home ownership aspirations.

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