Unless / until you are prepared for the various needs, responsibilities, etc., of home ownership, owning a home, can become more stressful and, much less pleasant, than you could wish , appreciate and / or, deserve! Many potential homeowners begin this process, unprepared because they do not take into account some of the necessities and do not recognize their personal needs as well as their comfort zones. One of the most underrated components is understanding and, realistically, taking into account economic / financial considerations and considerations and preparation for FUNDS, to make the experience as free as possible from stress! Keeping this in mind, this article will briefly attempt to examine, review, revise and discuss, using the mnemonic approach, what it means and represents, and why it is wise to be as prepared as possible.
1. Furniture; to face the facts; predictable; fittings; funding: There are many areas in which effective planning of financing needs, both immediate and future, is important and relevant! It must be done without, blinkers – on, and face the facts, realistically! In addition to immediate problems, such as those related to closing, a property, including a down payment, taxes and utilities paid in advance, legal fees and other fees, etc., a wise buyer, consider the expenses future as predictable. To do this, it is wise to create, in a systematic and meaningful way, reserve funds, especially for furniture, fixtures, preparation, renovation, repairs, etc.
2 Useful; uses; urgent: Think about how you could use the house and, at the same time, with the usual and unusual means, this place could be used! This process could be useful and recognize the most urgent aspects in a thoughtful way!
3 Needs: Do you know your personal needs and have you thought through the question of whether this home makes sense to you and your family, etc.? Each of us has different priorities, so it is wise to start this process with an open mind and an objective way!
4 Advance payment: While many people are prepared for the down payment and closing costs, few of them are ready and prepared for the impact that these could have on cash flow, stress and stress!
5 systems; strengths; solutions: What systems do you use that leverage your strengths and those of the home and prepare, with thoughtful and sustainable solutions, the financial necessities (both planned / predictable and unprepared for), associated with the property, a home to you?
The more a potential buyer will understand and prepare better, the more homeownership and experience will become happier and more fulfilling! Will you prepare, for you to enjoy, the American dream?