Start saving as soon as the idea of buying a home crosses your mind.Start small if you need to but make sure you go and open that savings account. Set yourself a target and make sure you reach it. Cut back on expenses, as something has to give. Decide what you need to sacrifice and be comfortable with your decision.
Decide where you want to live. Write down your preference and see if you can afford a property in this location. Location is the first priority. If you cannot afford a property in your desired location, decide on a second location and repeat the process,
A mortgage is a long term commitment. At a fundamental level you need tobe happy that buying is the route you want to take and to be aware that prices can go down as well as up. The alternatives are usually renting from a third party or perhaps living with parents. The advantage of staying at home for longer is that you can save more. The disadvantages include loss of independence and in the current market, watching prices rise faster than you can save!
We believe that is is very important to use as an independent adviser (like Mortgages.ie). We have years of knowledge and experience that is available for your benefit free of charge and a range of experts to advise you to only borrow what you can afford and the lower the borrowing the better.
When deciding on a mortgage level, leave plenty of room for living expenses and changing family circumstances.
Prepare well in advance, keep your current accounts well maintained. Avoid credit card debt and other short term loans and save regularly
Stretch yourself a little to get the home you want but only do so if you are happy that you can afford repayments, even if rates go up.