Buying a house is probably one of the largest purchases in your life – you won’t want to make any mistakes! Take the time to do your research carefully before you commit to buying any property. We have a few tips below to help you! 1.Know your budget and start saving earlyBuying a home is more than just paying the mortgage every month. You have to pay utility bills, property taxes, home insurance, and more. It’s important to know how much you are able to afford before you make the purchase. This can be done by working with an experienced property agent to determine how much these costs are and adjust your plan based on your actual income. Then, set yourself a clear saving plan and stick with it!Want to save up for a home? You can consider joining WeLab Bank’s GoSave Time Deposit to earn attractive interest! Click here to see how to join GoSave 👉 https://www.youtube.com/watch?v=E1jebDMzQr4&list=PLFldC7ETWyLTS5-YYNBiWm5_RHaIiyd6f&index=6 2.Know and strengthen your credit scoreYour credit score will determine whether you qualify for a mortgage and affect the interest rate lenders will offer. A good score could help you get a low-interest rate, which can save you tens of thousands of dollars! However, if your score is not as desirable, if you remember to pay your bills on time, you may still have a chance to improve your score. Hence, remember to check your credit score and find ways to improve it before you borrow money to buy property! 3.Seek advice from experienced professionalsWith such a big purchase, it makes sense to get help from experts. Work with an experienced real estate agent for advice; a thorough and licensed home inspector to pinpoint any potential costly repairs; a mortgage broker to ensure your finance is structured to meet your needs and a lawyer to help you deal with all relevant documents.4.Pay attention to the marketIf you’ve fallen in love with an apartment, you might want to get it as soon as possible. However, patience is a virtue, and can help you save money! The market fluctuates daily, so pay attention to the latest property news and check if there are any big shifts in prices. Only invest your money in the property once the price is reasonable. Partnering with any experienced friends or trustworthy agents can also give you a second opinion! 5.Compare mortgage feesMortgage rates vary among different lenders. To be a smart and savvy investor, remember to do some market research to get the best rates! Given the large amount of a mortgage, the rates are usually negotiable. Ideally, go to a few different lenders to compare prices, because you are likely to get different offers – a savings of 0.5-1% on a mortgage is a lot! 6.Save, save and save more! Overall, the most important thing about buying a property is money, so get saving! One tip for you to save money – the WeLab Bank's GoSave time deposit! Unlike traditional time deposit products, where the interest rate is determined by the deposit amount, your GoSave interest rate is determined by the number of joiners in the same time deposit pot as you, regardless of how much your deposit amount is: the more people who join, the higher the interest rate for all! To give extra flexibility, people can withdraw their GoSave prematurely up to 2 times with no fees incurred! Sounds attractive, right?

6 Tips For Buying A Home