While we often refer to home ownership, as an essential component of the American Dream, it is important for us to take a realistic look at the obligations and necessities involved, if this is the case. , to be truly a dream. , instead of a potential nightmare! Before you step into this house – treat, treat, carefully, introspectively, objectively, examine and consider your personal reasons, character, what makes you happy / satisfied, and if it is a good course for you. Once you have determined what is best for you and know what you want, it is essential to clearly consider and consider what you could afford. It means proceeding in a responsible, well-planned and thoughtful manner, focusing on preparing for the many contingencies associated with home ownership. With that in mind, this article will attempt to review, review, and briefly discuss a few steps, which should both reduce stress and unnecessary hassle and maximize potential pleasure!
1. Reasons to buy this house: Why do you want to buy a particular house? Does it meet your current and future needs? Or, do you plan, in the shorter term, and wish to live there for a shorter period, and then move, if necessary and necessary? Are you the type of person who likes to move around or would you rather stay in your current quarters? What are your needs, goals and priorities, in terms of location, neighborhood, schools, costs, transportation, amenities, etc.? Why, this house?
2. Advance payment: Do you have the necessary funds, to have the down payment, while avoiding putting too much stress on yourself because of using these funds? Smart owners prepare and make their trip a lot less stressful!
3. Reserves required: The best way to proceed is to collect several reserve funds in order to make your job easier. Once you've purchased your home, most people face fixed monthly expenses, which include mortgage payments (including principal, taxes, and escrow items, such as insurance, etc. .), public services (electricity, heating, telephone, television, Internet, etc.). Realize, own a house, requires preparation, to pay for the costs of regular repairs, including appliances, heat, water, etc. Create a reserve fund, for that specific area. Also, be aware that homes require special attention and some items have a useful life and will need to be replaced, such as roofs (rated between 20 and 40 years), appliances (including washer, dryer , refrigerator, oven / stove, dishwasher, etc.), electric paint or wash, etc. At some point, many find that their home is in need of certain upgrades, renovations, etc. The better prepared, the easier this process!
Are you ready to become a happy owner? Will you have the discipline, organization, and system to facilitate the process?