More Than Finances

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Buying Your First House – Are You Ready?

Most people are more motivated to work hard when they think about their goals in life like buying their own house. This is especially true for people who are planning to settle down soon and start their own family. So are you ready to buy your first house? This article will help you assess your situation and eventually help you determine if now is the right time to buy a house.

Buying a house is such a major decision thus you need plenty of time to think about it. You should be logical and truthful to your situation or else you might ruin a supposedly happy phase in your life.

Here are guidelines to take into great consideration:

 

  • Do you have a stable source of income – first of the things that you must consider is your source of income. Are you working in a company or do you run your own business? What matters is that you have job security and that your income will be enough to cover your mortgage expenses along with other expenses that comes along in owning a house. It is advisable to ensure that your company is stable as well as your tenure in the company. You should be in the company for at least 2 years before you make any major decisions like buying a house. It is also best to find extra source of income to have a back-up plan.
  • Do you have money for down payment – yes, there are numbers of housing loan to assist you but it is still a must to have the money for down payment. Saving up for the down payment should be your first goal before entertaining further thoughts about housing loan.
  • Will there be anything left as your emergency fund – you should also make sure that you still have funds for emergency situation. Do not spend all in the down payment. If you find your bank account almost empty after the down payment, then it is best to wait for a few more months until you save up for emergency fund.
  • What type of loan will you avail – you must choose the best and most suitable home loan for you. If you are unsure what to avail, it is recommendable to seek experts’ opinion. Know more about premium variable home loan and see if it fits you right. You should look at the payment terms, rates and other requirements.
  • Are you ready to live in your own house – lastly, you must ask yourself if you are indeed ready to own a house. It is a beautiful goal to achieve but it is important that you are ready in all aspects be it financially, emotionally and mentally.

 

You need to find the perfect timing when it comes to buying a house or any other major expenses really. It is very important that you are financially ready for initial and future expenses. Buying your own house will be a lot sweeter when you do it when you are 100% prepared and responsible.

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I Love My Morning Coffee More Than Finances

Almost every morning I wake up and make coffee for my wife and I. When we don’t have anywhere to go right away I get to sit and watch the news, read, or binge some Netflix while drinking my coffee. Read More

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How Saving $10,000 A Year Is Possible

How does an extra $10,000 sound to you? Well unless someone is going to hand you that much money, it may be better for you to start saving $10,000 in a year. Read More

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What To Do When You’re Dead Broke

You’ve been doing so well for so long. You never have a surplus of money but the bills are always paid. Maybe not on time but paid.

Until now.

You find yourself looking at how many bills are left to pay and think to yourself “I am dead broke”. It’s a tough pill to swallow, but all is not lost. Read More

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How To Make 100 Dollars In One Day

Your day has just started but you have a long one ahead of you. You typically have enough money to cover every expense that comes your way, but today you’re $100 behind.

What are you going to do? Here are some ways how to make 100 dollars in one day. Read More