There are many factors that you must bear in mind before deciding to immerse yourself in the world of real estate and live the wonderful stage of acquiring your first home. It is natural that you feel many doubts at the beginning and you should resort to the opinion and advice of many people who have already gone through the process. Similarly, it is highly recommended that you make use of a real estate agent services to facilitate the matter, as it will take care of the most tedious part of the whole process.

Budget, type of house that you can cover with this budget, location and other preferences, are just some of the many things that will go through your mind and that you need to know before buying a house. Among them, undoubtedly highlight the financial issues; it is easy to imagine the space where we would like to live, but paying for it is a very different story.

Therefore, you must know your opportunities and economic limitations. Starting with the budget, adjustment of accounts, review of solvencies and other situations it’s time to meet the payment modalities you have available. In what way could you buy your home? Well, there are two basic forms:

• Cash payment
• Mortgage loan

Each of them generates multiple advantages, and the choice of both will depend on your previous solvency stipulated in your budget. So, let's see a little better than what each of them deals with.

Cash payment

This is done when the buyer has the total money of the purchase of the house and therefore can disburse it completely as soon as the papers are signed. It is the most effective and fastest method; however, it is difficult to have all this money the first time.

Mortgage loan

This method involves much more time in the process of buying the house; nevertheless, it allows the buyer to opt for better homes that perhaps their current assets would not be enough to buy. It is a banking product in which this institution will provide the buyer the money to cancel the property, acquiring the commitment to pay in installments the total amount of the house. Usually these loans have as a guarantee measure the own acquired home, or with any type of present or future goods of the buyer. This is the most affordable means if you manage to do this prior business with the bank.