Buy A House?!
There is no such thing, as a one – size – fits – all reason, or set of reasons, folks decide, or desire, to buy, a home, of their own. Some do it, due to family needs, others might want to own pets, and so on, and others, decide it makes more fiscal sense to possess (than continue leasing ), and/ or need to live, somewhere, where they might put, their personal seal, on the lodging, or seek a particular lot of property, etc.. These are just, a few of the reasons, but to make sure, one purchases, as it serves their best – interests, and can so, intelligently, and in a focused way, prospective homeowners should definitely know their personal reasons, thoroughly, and in a somewhat, objective way.
1. : Owning a home of your own, requires accepting a much greater level of personal and fiscal responsibility, than renting. Start by thoroughly considering your present finances, including savings, earnings, debt, and preparedness. Will you qualify for a cheap mortgage? Have you ever saved, and accumulated significant reserves, in order to be prepared, and prepared, for any foreseeable potential? Wise homeowners put together reserves for repairs, renovations, upgrades, and maintenance, etc, as well as possessing a mortgage reserve, of approximately 6 – 9 months, equivalence. Since, for most, the value of your house, represents your single – biggest, financial asset, does not it make sense, to move wisely, and in a focused way?
2. Area/ neighborhood: When you rent, your lease is for a finite period, so it’s rather simple, and straight – forward, to relocate to another area, if you discover you, either don’t like the particular area, locality, region, or house, or if your life circumstances, alter, such as employment, etc.. Evidently, since selling a house, is a little more complicated, timely, and less predictable, this should be one factor, before proceeding.
3. Really want to get a pet or pets: Only a minority of leases, permit people to own pets, and, even, then, must be clearly defined, and is often limited. For true pet lovers, who simply don’t want to be without a beloved pet, it might be one reason to buy a house.
4. How much land do you want/ need? Some love having a bigger lot, either for flowers, gardens, etc.. Others wish to have place for patios, pools, or convenient areas for their pets, to roam. However, others don’t need that type of obligation, and/ or can not afford to keep these (Isn’t that one reason, some prefer condominiums?) . While some want large lots, others search less. Know thy self!
5. Mortgages: Most home buyers purchase homes, with the help, of a mortgage loan. Remember, your payment includes principal, interest, real estate taxes (and other escrow items such as insurance, etc). Do not become, house – rich, and lifestyle – poor!
Before buying your home, fully consider your needs, desires, wants, and means, and move, wisely, and in a way, where ownership is going to be a pleasure, rather than a stress! Will you move wisely, or impulsively?