Nhlanhla Dakile Talks About How to Finance Your First Property
Buying your first property is an exciting milestone, but it can also feel overwhelming—especially when it comes to financing. Understanding your options and making the right financial decisions are key to a smooth and successful purchase. Nhlanhla Dakile, a dedicated real estate advisor, shares insights on how to navigate this process with confidence. Understanding Your Budget Before you start looking for a home, it’s important to determine how much you can afford. Consider these key factors: Income and Expenses : Evaluate your monthly earnings and fixed expenses to see how much you can allocate toward a mortgage. Credit Score : A good credit score can help you secure better loan terms and lower interest rates. Down Payment : Most lenders require a percentage of the property’s price as a down payment. The more you put down upfront, the lower your monthly payments will be. Hidden Costs : Beyond the purchase price, factor in property taxes, insurance, maintenance, and potential homeowner...