Be
a
homeowner:
5 questions you should ask yourself.
by: Christelle Prudent
Like all of us, are you tired of wasting your hard-earned paycheck month after month on rent?
Well, if you’ve consciously budgeted each month over the years, and have built up a significant
savings, it might be the time to consider buying. Yes, become a homeowner!
Buying your first home is a big step towards building your personal wealth. Chances are that this
will be one of your big investments, if not the biggest. So it’s important to ensure that you have done
all the necessary research before you sign an offer to purchase the property of your dreams.
Are you ready to
be a homeowner?
While it may not be a big deal to grab something
off the sale rack at the local department store, the
decision to buy a home requires thoughtful planning
and decision making. Once you’ve made your offer
to purchase and it’s accepted, the transfer process
commences to register the home in your name. This
is a costly exercise and must be factored into the cost
of the property. Due to the expense involved, you’re
unlikely to be able to get a return on your money, if
you sell your home in the next few years, so make sure
before buying that you’re ready to stay put for a long
period of time.
Buying your dream home has got to rate amongst the
best feelings in the world, but keeping your home in
good condition requires not only money but also time
and effort. Make sure you’re in a position to dedicate
all of these to deal with on-going maintenance,
upgrades and improvements that will be necessary to
keep your home looking good, if not better than the
day you moved in. Your property is an investment and
you need to take good care of it, if you don’t want to
lose money when you decide to sell in the future.