Finding a deposit for your first home can often be the hardest and most stressful part of finding a home. You may have already decided on the property you wish to buy and found your ideal lender but are now being told that you need a certain level of deposit to progress.
There are three major ways to come up with the deposit for your first home. The first one is to obviously fund the deposit yourself. This will normally be achieved by delving into savings or maybe even cashing in investments or selling belonging such as the family car in order to come up with the cash. This is all fine as long as it still leaves you in a comfortable position and if it doesn't leave you in a highly exposed position then this is probably always the best way to fund your deposit as it doesn't cost you anything, there are no interest charges and ultimately you have paid for it yourself and therefore have full ownership over that.
However, if it leaves you in a position where you have no safety net or you have drastically reduced your standard of living then this is probably not the best direction to take. Remember, coming up with your deposit is one thing but you will then have many years of mortgage repayments and if you have no savings left to fall back on this can be a highly stressful and insecure way of funding your house purchase.
The second and one of the most common ways is to approach friends and family for help. If you are lucky enough to have friends or family who can afford to help you and are willing to pay your deposit or put money towards it then this can be a very safe and effective way of funding your deposit. It often means relaxed repayment terms without interest charges and means you haven't exposed yourself to more institutional lending which could go against your credit and affect you actually getting your mortgage in the first place.
It is ฝากขายที่ดิน essential when using this route though that you are very clear with each other about repayment terms and whether you can realistically meet them. You want to get the house of your dreams but you don't want to lose friends or family over it by committing to paying back a sum of money that you can't realistically achieve.The third way of securing a deposit on your first property is one of the newest ways and involves approaching the property developers directly.
There are always new building projects going on somewhere near you and the property developers building them are always interested in selling all their units as quickly as possible in order to be able to move on to their next project. This means that they will often incentivice buyers to commit to one of their properties as soon as possible and one of the newest ways they do this is to lend you the money for your deposit themselves or sometimes to even actually pay your deposit completely with no need to repay them.
This is therefore one of the best ways to source your deposit and should always be your first port of call. Check out all your new local developments that are being built and then contact the developer directly to see what offers and help they can provide you as a first time buyer, you may well be surprised at what they can help you with!
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