Are you thinking of buying your first home? Do you know the secrets of buying it?

It's very exciting for everyone to buy our first home. But, do we all know about the buying secrets? So, here I have taken an attempt to give you a brief explanation about the secrets which I have implemented when I bought my first dream home.

First of all, you have to save money to buy your home because you need to take home loan or Mortgage. Then, it comes, how much you need to save? I would suggest you to set a goal of saving 10% of your pre-tax income.

You have to be very much concern about your spending habits. You need to have an estimate of current expenditure. Try to keep track of your expenditures by noting down all your expenditure in a notebook. If you do this, I am sure, you will be able to find out where do you spend your money and it would become easy for you to cut down on expenditure of yours.
Another most important secret, I would suggest you to get rid of credit card debt. Normally, we pay our credit card debt every month, but there may be a situation when we cannot pay off the debt. So how will you eliminate this debt burden? There is an option for you; you can transfer the present debt amount to a new credit card account where you will gain the facility of interest-free grace period. During this period of time, you need to save a huge amount of money as you are being spared from paying the huge amount of interest.
Now, as I have come to the end of my discussion, I would like to tell you the tricky secret. If you have spent the entire amount which you have earned and then some amount, you don't have to be surprised if at that point of time, you don't get any welcome from the mortgage lenders. You will soon become very popular among the lenders if you start saving every month, because lenders just want to see the proof whether you can save or not. Last suggestion of mine: Save, save till you get a mortgage loan!!! Its all for your dream dear!!!