Are you ready to purchase a home?

It is a dream for most to purchase a home they can call their own. The pride of ownership is highly desirable and so is the personal freedom one can exercise in their own home. Owning home gives you a choice to live where you want and how you want. It gives some very good tax deductions and financial benefits. But most of all, it is a great investment for the person buying it. The resale value of a property can be quite attractive. But one has to be truly ready to buy a home. It took me quite some time to feel that I am mentally and financially prepared to own a home. I have enumerated some signs that tell you that you are ready.

You are financially set with a budget

The first point of concern when deciding to purchase a home is almost always the financial one. In order to buy a panama city real estate (visit IPRE), you have to be financially ready first. I had to make an estimation of the expenses that I would incur for buying a home and accordingly had to set my budget and wait until I was financially capable enough to handle the expense. This is almost always the first sign of whether one is ready to buy a home or not. If the person is financially ready with the estimated budget of buying a home, and also is financially comfortable enough to handle all the ancillary expenses, then the person is definitely ready to buy a house.

You are mentally prepared for a house

Owning a house is a completely different ballgame compared to living on rental. When you purchase a home, you are singularly responsible for everything. Right from the maintenance to the monthly bills, you have to take care of it all. Many do not realise this point until it is too late. I have been living on my own for quite some time, yet it took a while to get used to the responsibilities that come with owning a home. it is also kind of a long term commitment. When you live in rental, you can move around from one place to another, if you get bored. But when you own a house, you must decide to stay there at least for a few years. I chose to buy a home when I felt I was stable enough to stay put in one place for long.

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Is it time to buy your own home?

I sincerely believe that we go through different phases in life when we want different things. There is a time when we would rather travel around the world with a backpack and the thought of being rooted to one place would bore us. And then comes a time when we look for a little stability and would prefer to have a home to come back to. That is actually the time when it is prudent to purchase a home.

If you are stable, owning a home can be wonderful

I have had my fair share of globe-trotting but as soon as I felt financially stable and mentally responsible enough, I opted to purchase a home for myself. It felt right, as financially I could afford it and it would also be a good investment. And being mentally ready, I would not mind shouldering the responsibilities that come with owning a home.

Live the life you want

At one point of life, it is natural to want freedom from the cycle of living in rental places. You own home is your own space, where you can live exactly like you want to live at that point of time. This freedom is priceless.

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Purchase a home and be your own landlord

I cannot remember the number of times I changed my rental homes, just because the landlord was unpleasant to put up with. This is a major problem with living on rent – you have to put up with the whims and fancies of the owner of the place. That is when I decided that I would rather own my home and live in peace. Hence I started to prepare to purchase a home. If you are still wondering whether you should buy a home of your own, then let me give you the biggest reason why this is a good idea.

You can live however you want

In rental homes there are numerous restrictions put forward by the landlord. It makes sense too as it is their home and they have the right to make the rules. So, when you purchase a home, you become that rule maker. You don’t have to abide by anything you don’t want to do. For me, buying my own home meant freedom from dealing with unscrupulous or unpleasant landlords. I could live how I wanted without being answerable to anyone.

Responsibilities don’t seem that bad

One positive point of living in a rental home is that if anything breaks down or needs fixing, I can simply call and ask the landlord to deal with it. But owning a home is different. When I decided to purchase a home, I was keenly aware that I would be completely responsible for everything that goes on in my house. Right from plumbing to calculating bills, I would be in charge to handle them all. This might seem quite daunting a task, but I did not mind it. Once you get into the flow, the responsibilities do not seem to be a dampener, especially when compared to the joys of owning a home.

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