How to pick the right house
5 Tips for revamping
your finances
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4. Zoning: Local laws set lim8. Size: Square footage is imits on the number and size of
portant, but so are the relative
housing units that can be built
sizes of the various rooms and
on residential lots. That means
the use of space throughout the
some areas may be open to
house. A staircase, multiple hallmansion-sized homes or higher- ways or odd alcoves could make
Shopping for a home can be a
the monthly repayments.
Most of us start the many density at
lot of fun, especially whennew year with,housing (e.g., duplexes an a large house seem smaller than your
Make it
absolute priority to pay off
least, hopes are on the
or apartment buildings) while
its square footage. Check out
attractive homesfor a better year, some with a
existing debt as fast as possible, starting
list of resolutions, and an other may have
the closets, too.
market. But before you makea smart few with a restrictions that highest interest rate debt first.
with the
practical,one that’s captured for ensuringuses.
step-by-step plan prohibit such a
offer on the
Even a payment of just N$100 a month
better year.
9. Floor Plan: Some houses have
your affections, consider these
extra on an account will help you pay it off
5. Lot: A house that’s next to
an efficient and pleasing arcriteria:
much
Draw up a monthly budget, or revise your school, park, faster.
a shopping mall,
rangement of rooms while othOnce one debt has been settled, use the
budget, to factor in the impact of the or other non-resitransit stop
ers have odd configurations that
1. Price: Just because you can
monthly repayment you were paying on
interest expensive house
rate hike.
dential use may or may not be
may seem maze-like or dictate
buy a more
it to pay into the next debt as an extra
desirable, depending on your
inconvenient In this way you
doesn’t mean you necessarily
payment each month. traffic patterns. A can
These hopes, more money and plans
resolutions
preferences. A home on a corner two-story house can offer more
should do so. The
much quicker
inevitably mortgage payinclude financial goals, such larger and eradicate debt from your life who don’t
lot might be as
more
living space for those
you spend on
than you ever imagined.
paying off debt, saving
private than up
ments, property taxes, hom- more or saving neighboring homes, mind the extra exertion every
for a dream.
but could also be subject to
day.
eowner’s insurance, and repair
4. Pay any extra money into your home
Here are some tips for revising your noise.
more traffic
and maintenance costs, the less
loan
financial resolutions for
10. Condition: An attractive,
you’ll have to spend on your 2014:
Once you have paid off your short-term,
6. Incurable Defects: Any prob- well-maintained house will
other wants and needs.
high interest rate debts, pay extra money
1. Draw up a budget
lem that would be outrageously cost more than a similar house
into your FlexiBond with FNB Home Loan
expensive your
is
that’s not in
you
2.Draw up a Some neighborCharacter: monthly budget, or revise or impossible to fixmonth, not onlygreat shape. If a buffer
each
to
budget,citified while othersimpact of an “incurable defect.” Ex- don’t mind hiringbuild up
to factor in the
the
called
contractors
hoods are
against future interest rate increases but
interest raterural. Some
hike.
amples include an airplane flight or making repairs yourself, you
are suburban or
also to ensure you save thousands of
Ruthlessly cull unnecessary expenses to
path, bizarre floor plan, inadmight be able to buy that lesshave matured with the passage
Namibian dollars on interest and reduce the
ensure that youare brand
can afford the necessities, inordinately
equate parking or
attractive house at a discount.
of time while others
number years it will take to repay the loan.
such as bond repayments, loud traffic noise.
Otherwise, you might prefer to
new. Some are staid while others vehicle finance Don’t buy a
instalments and debt repayments. If you
home with an incurable defect
purchase a house that’s in good
are funky. Choose a place to live
cannot afford all your repayments, take willing to5. Plan your financial future
unless you’re
live with
condition.
that suits your personality and
Once you
immediate action. Speak to your credit as long as you oc- have your current financial
that condition
lifestyle.
situation under firm and tight control, take
providers to make a repayment plan home.
cupy that or
the time and make the effort to plan your
contact a debt counsellor to assist you.
3. Location: The age-old joke
financial future.
7. Environmental Hazards:
that the three most important
For more information
Decide
2. Save
Some houses are plagued by what you want to achieve financially
factors in buying real estate are
on Home Loans
and set
If you have culled your expenses to the pests, high levels goals with time lines, for example,
wood-eating
location, location and location
contact us today at
saving
minimum, save up any moneyradon, molds, lead-based up for the kids’ education within 10
of you have left
may be too tired