by Rick Delgado
on Saturday, December 7th, 2013 at 12:43pm.
Purchasing a house is a lifelong investment. This is most likely a dream come true specially if you're a first time buyer. First off, it is imperative to know what you want. However, what we want is not always what works for us. This is where the need to consider our needs comes in. You're going to invest your hard-earned dough and you have all the best reasons to be prudent amids all the excitement you feel. Planning your efforts in purchasing a home will definitely help you gain a competitive edge as a buyer and thus avoid settling for a bad choice. "Plans are nothing" says Eisenhower, "planning is everything". This quote asserts that simply knowing what you want does not suffice, what matters is knowing how to get on the path towards achieving that vision.
One crucial factor to put into consideration is the size of your family. This will help you figure out the size of the house you want to settle on. Size does actually matter in relation to the number of people who will be dwelling in a house. Nevertheless, it helps not to obsess over your ideal size versus what's ideal to you family's needs. A colossal Tuscan house is not necessarily better if there are only three individuals who will live there. Perhaps, this could be perfect if you bringing in all your extended family.
Knowing your purchasing power also plays a vital role. If you're earning a minimum wage and you intend to procure a multi-million dollar worth of real property without any subsidy, perhaps you should be more realistic and consider a less pricey abode that suits your bank account's capacity. You'd better be residing in a simple contemporary house and still afford to survive than live in a luxurious a la Gatsby mansion and go to bed every night with an empty stomach because all your money goes to your mortgage.Your home should be a place of healthy retreat, not a gigantic financial nightmare.
The location of the property also has an incredible impact on your life as a purchaser because it determines accessibility and convenience. You need to consider if it's closer to your job, to schools, and other important establishments. If the property is located near significant establishments, your property can have a higher value in case you decide to sell it in the future- which can be a great exit strategy for you.
If thinking about buying a home gets way too overwhelming given all the things you have to take into account, do not hesitate to seek the help of a trustworthy and competent agent who knows all the trick of this trade. Robert Kiyosaki says that the most expensive advice is free advice. When we resort to listening to the suggestions of our friends and families, we lose the chance to see the issue from the point of view of those who are expert in the business. The last thing you need to do is make a hasty decision. In the end, you will reap the benefits of your prudence. The key is having a vision of what exactly you are looking for and deliberate each effort you make very carefully.