Home Buyers Guide

Chapter 2: Buying a Home During the Credit Crunch

With all the talk about the fall in property prices, the problems with the economy and the credit crunch, it’s no
wonder that people are thinking twice before they jump onto the property ladder.

And I don’t blame them.

Buying your first home is a big decision, so you should consider things carefully before you ‘sign on the dotted line’.

We’ve seen both good news and bad news for first time buyers in the last year.

While buying a home has become a lot more affordable, getting the mortgage finance to buy that home has become more difficult.

In the next few pages, we’ll outline both the positives and the negatives of buying a home in the current environment.

You may decide that now is the right time to buy a home or you may want to hold off a little longer before you
take the plunge.

But in either case, you need to start your preparations straight away.

After we discuss the positives and the negatives, we’ll outline the 4 steps you need to take right now to
ensure you’ll be in a position to buy when you want to.

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