When it comes to life’s biggest purchases mine include my Apple Mac, my car and a designer handbag here and there. Recently though, I’ve been preparing to make my biggest purchase yet: a home.
Buying property is currently a totally in-fashion topic amongst my circle of friends.
Hitting this new life stage has seen our conversations shift from men and manicures to the other ‘M’ word: mortgages.
Whilst this fashionable topic of conversation seems far less fun, if like me you’re in the market for your first abode, it’s a must-have conversation that needs to be had.
Just as an FYI, you should know that this post is an advertorial by BOQ. But all opinions expressed by the author are 100% authentic and written in their own words.
Getting to that first rung of the property ladder can seem completely overwhelming and here you have it fellow foundation seekers, the ultimate first home buyer’s checklist.
If you’re looking for more information on the ins and outs of bank valuations and home loans, pop in and see the team at your local Bank of Queensland (BOQ). They’ll be more than happy to help.
1. Check Your Credit Report
A bad credit rating can be likened to getting a now ex-lovers name tattooed on your arm. In other words, not going anywhere in the foreseeable future. With the credit reporting laws changing in March, banks will be able to access new information on your credit health so it pays to ensure that you’ve got no hidden nasties lurking that could affect your chances of applying for a mortgage. You can obtain a free copy of your credit report via a national credit reporting agency such as Veda.