How much can you afford for your next home?

You probably look like the vast majority of people who, like you, would like to have one or more real estate properties. Either acquire your primary place of residence and stop paying rent, or become a landlord. That is, to buy an apartment, house or building, why not, to be able to sell one or more tenants and, thus, get a new source of income.

Yes, but now wanting it is one thing, and acting another. I do not underestimate the fact of wanting this. This is really the number one step you start with, but it’s not enough.

I am going to offer you in this text 10 steps that will let you know how to stop paying rent for a house and suddenly become the owner of your property within 3-6 months.

Of course, depending on your personal situation, some steps have probably already been taken, but it is likely that you can take some of these steps, even if you have already made good progress, especially in your finances.

Despite all the advice from my own experience that I put at your disposal for free, I cannot be held responsible for the results that you will get after reading this document. Indeed, each case is individual, the implementation of the recommendations and the situation of each of them are different, you are solely responsible for your actions and your results.

This is often an underestimated step. People think it’s easy to buy an apartment or a house. They begin to visit, spend endless time when, finally, they find the house of their dreams, they go to their bank, which refuses to lend them money. This example is one, but my experience as a former real estate broker has shown me so many others. If you are reading this manual, then this step is integrated for you, and I congratulate you.

You are already much more advanced than most people who want to become owners.

Second step: your consumer loans

Clear your bank accounts

Always in the spirit of seducing the banker, because ultimately it is he who will allow you to complete or not, in order to implement your project, you must have impeccable bank accounts.

What have flawless bank accounts. No need to earn 4,000 euros per month. Bankers generally prefer more modest incomes with strict accounts than large incomes, which they manage in some way.

You will need to go to the bank and ask for a loan in order to get a zero overdraft fee for the three months preceding your application. the credit agency will ask you about the last three payrolls, they should be without an overdraft, if possible, without any excitement.

Look for a property that suits you

This step is more about investors. When you buy your main home, it’s easier to find out what you want. Although many couples do not see things the same way and want one to live in the city and the other in the countryside, or one in the apartment and the other in the house. But there, unfortunately, I do not have a solution for them.

It will be necessary for investors to determine their goal long before you start looking for your property.

Or you know exactly what kind of investment you want to make. Do you want to make a seasonal rental, a roommate, rent a furnished apartment, rent an empty apartment (bare), parking, rent a garage … In case of renting a bare or seasonal rental, you will rather look for an apartment near the station or city center. If you choose colocation or rental furniture, you will be transferred to a faculty or a large school. You understand the principle.

Or you do not have specific preferences or goals, in which case you will determine your budget, determine the amount in which you want to invest, and look at the available opportunities when searching.

Choose the right property.

You will arrive at a time when you have to act quickly and at the same time take time to think. You have found a property that you like, it is not ready in your budget, it is located in a sector that suits you perfectly.

Yes, but you need time to think at a minimum, especially if there is work to do. You will need to evaluate them, this can greatly change the final price of your purchase. If this is a rental, we must make sure that this property meets the demand for its size, number of rooms, the price you will need to rent, and the budget available to tenants who may be interested in your property.

And yet, if you spend too much time, you will have a good chance, especially if you really understood that someone who was faster than you won your project. Here again, the first step will help you. The better you are trained and informed, the sooner you can decide.

Purchase offer.

This is an important step, now you know that the visited product is what you need. We will have to tell the seller. You will tell the seller a purchase offer. This is a document that tells him that you want to buy his property at a certain price. This price should be carefully studied.

If this is for your main home, it is not very difficult, you have a budget in which you have to pay the purchase price, additional fees, typical agency fees, brokerage fees, mortgage fees … and the amount of work.

If you are a beginner investor, then your offer should be made not on the basis of the price offered by the seller, but on the profitability that you can extract from your investments.