Buying Your First Home

You have decided to buy a new home, congratulations you have come the right place! The Victoria Building Society has been transforming many Jamaican savers into proud homeowners for over 130 years! Let the mortgage experts help you open the door to your new home. This is our core mission.

Should I Buy - benefits of home ownership

There are a lot of other good reasons to own a home. One of the best, financially speaking, is the opportunity to benefit from appreciation as the value of your home rises through the years. In fact, if you're like most people, buying a home can be the smartest financial decision you'll ever make.

Deciding to Buy

Deciding to buy a home is one of the most major decisions you will make. As it is a long term investment it is important to consider all the factors, deciding how much you can afford, saving for your deposit, and choosing a the right financing option, legal advice, moving and all the attendant considerations. Let VMBS help you plan and chart your course towards homeownership.

What does your dream home look like?

What kind house are you in the market for? Is it your dream home that you have been saving for many years or is it a " fixer-upper" Does your idea of a dream home have two, three, four or more bedrooms? A spacious backyard? It helps to put on paper the features that you are looking for. This will save you a lot of time and will also help you get it clear in your mind exactly what's important to you. Be clear on the things that are must haves and other things that you will be flexible about.

How much can you afford and financing your Home

Ultimately you will decide how much you can afford, but this is something that you need to sit down and work out as accurately as you can before you start looking. Many variables will determine your borrowing power – the most important of which is your income, followed by your financial commitments, credit history and living expenses are taken into account. At VMBS we have the tools and expertise to support you to make this decision.

At VMBS we are committed to offering our members very competitive home loans with low fees and low interest rates.

Finding your Home

The low and mid income home construction environment in Jamaica is very vibrant. VM Property Services and the National Housing Trust will provide you with access to a variety of developments in different areas as do our local developers. Let VMBS walk with you through your choices.

Saving for your Deposit

Saving for a deposit can be a challenge, but owning your own home is a great motivation to put money away. VMBS can help with our detailed Budget Planner and show you how one less pair of hot shoes or night out can add up. Now you have a plan, check out our savings and deposit accounts to see how you can reach the deposit amount.

Doing due diligence

Becoming a homeowner is a big commitment and more expensive than most first-time buyers ever realize. However, having the right people on your side is very important and information is key to making the process a stress free one. Before moving forward, you should have a clear idea of what you really want and what you're getting into.

Protect your investment

Insurance, maintenance, improvement and much more are just some of the ways you can keep and improve the value of your new home. Performing routine maintenance on your home's systems is always more affordable than having to fix big problems later. Be sure to watch for signs of leaks, damage, and wear as your home ages.

The Home of Financial Independence