There’s absolutely no such thing, as a one – size – fits – all reason, or set of reasons, folks decide, or desire, to purchase, a house, of their own. Some do it, because of family needs, others may want to own pets, and so on, and others, decide it makes more financial sense to possess (than continue leasing ), and/ or need to live, somewhere, where they may put, their private seal, on the lodging, or seek a specific lot of land, etc.. These are just, a few of the reasons, but to ensure, one buys, when it serves their best – interests, and does so, intelligently, and in a concentrated manner, prospective homeowners should definitely know their private reasons, thoroughly, and in a somewhat, objective way.
1. : having a house of your own, requires accepting a much greater degree of personal and fiscal responsibility, than renting. Can you qualify for an affordable mortgage? Have you ever saved, and accumulated significant reserves, so as to be prepared, and prepared, for any foreseeable potential? Wise homeowners put together reserves for repairs, renovations, updates, and maintenance, etc, as well as possessing a mortgage book, of approximately 6 – 9 months, equivalence. Since, for most, the value of your property, represents your single – largest, financial asset, doesn’t it make sense, to proceed wisely, and in a focused way?
2. Area/ neighborhood: When you rent, your rental is for a limited time, therefore it’s rather simple, and straight – forward, to relocate to a different area, if you discover you, either don’t like the specific area, locality, region, or house, or if your life circumstances, alter, such as employment, etc.. Evidently, since selling a home, is a little more complicated, timely, and less predictable, this should be one factor, before proceeding.
3. Really need to own a pet or pets: Only a minority of rentals, permit people to own pets, and, even, then, must be clearly specified, 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. Some adore having a bigger lot, possibly for flowers, gardens, etc.. Others wish to have place for pools, patios, or convenient areas for their pets, to roam. However, others do not need that type of responsibility, and/ or can’t afford to keep these (Is not that one reason, some prefer condominiums?) . While some want large lots, others search somewhat less. Know thy self!
5. Mortgages: Most home buyers purchase homes, with the aid, of a mortgage loan. Remember, your payment includes principal, interest, property taxes (and other escrow items including insurance, etc). Don’t become, house – rich, and lifestyle – poor!
Before buying your home, fully consider your needs, desires, wants, and means, and proceed, wisely, and in a manner, where ownership will be a pleasure, rather than a stress! Are you going to move wisely, or impulsively?