4 Things The Voice In Your Head Tells You When Buying Your First Home… And How To Overcome Them

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Unlike buying a new smartphone or booking your next holiday, buying a house isn’t something that most people think about casually or frequently. That’s because most of us are aware that buying real-estate involves a large sum of money and a bigger change in lifestyle. In short, it involves responsibility, sacrifice, and commitment—the things that only adults are prepared for.

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But, even when you’re convinced that you’re ‘adult’ enough for your first home, taking that first step will likely trigger that voice of caution in your head; the voice that, whether you like it or not, will ask you these 4 questions…

#1 What if I cannot afford it?

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These days, you’re likely to speak to someone who can help you determine your affordability before buying a home. What you really need to do on your part is determine what type of lifestyle you’re comfortable with and whether you’re willing to make changes to it to accommodate all the new home-related expenses. This could mean, less shopping, less eating out, and less overseas holidays.

#2 What if the project doesn’t get completed?

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Unfortunately, that does happen. And since science hasn’t allowed us to see into the future yet, the best thing to do is to research the developer and the people managing the company thoroughly to make sure they have a history of completing projects and delivering them on time.

#3 What if things that were promised don’t materialise?

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As a general rule, if something is listed in your Sales and Purchase Agreement (SPA), then you’re legally entitled to receive it. Be sure to always check your SPA to ensure everything that has been promised are listed before signing it.

#4 What if I can’t secure a loan?

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First and foremost, your income and existing debt (if any) needs to be at a level that allows you to afford the property you’re looking to purchase. Assuming that all checks out, then what’s left to do is ensure you’ve been paying your bills and debts by their due dates every month. This will ensure you have a good credit score, which will give banks the confidence that they need to lend you money.

Alternatively, you can check out #OnlyEcoWorld Help2Own* campaign happening now! The Help2Own* campaign is set up specifically to aid first-time home buyers and people looking to upgrade their homes.

Under the Help2Own* campaign, you’re only required to pay 5% then apply for 70% loan from a financial institution. The good folks at EcoWorld will take care of the rest. Watch the video below to learn more about the Help2Own*campaign…

For more info, visit any EcoWorld galleries or head over to https://ecoworld.my/happenings/.

*For a limited time only and subject to terms and conditions.