June 11, 2015 IBOMLLC Team

Just married? How To Buy Your First Home In Africa

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Advice for couples looking to take the property plunge

Married couples often have the upper hand when it comes to buying property. Thanks to combined incomes and higher spending power, coupling up can take you one step closer to purchasing your dream home.

However, there are some important differences in the home-buying process for couples and singles. With this in mind, global property portal Lamudi has provided a cheat sheet for newlyweds and other couples looking to enter the real estate market for the first time.

Look at both your finances

If you and your spouse both have a good credit history, your chances of qualifying for a mortgage increase. By pooling your combined income, you will be able to afford a larger down payment and get a better deal on your mortgage. Be honest with your partner about your credit history – from any existing credit card debt to outstanding students loans – so you are well-equipped to approach a financial institution.

Consider going solo

If one partner has a lower credit score, you might need to consider applying for a mortgage without your spouse. The …read more

Read more here:: Just married? How To Buy Your First Home In Africa

      

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