Posts Tagged ‘homeownership’

Home Financial Budget: Plan Ahead for HomeOwnership

Wednesday, May 14th, 2008

:  Plan Ahead for

If u are thinking of buying a home soon there are things to consider, based on today’s economy, inflation and your budget how much will these things affect u on a daily basis.  If u are trying to cut back spending and tightening your budget for the next 2 years, and may only live at the house 3-4 years, will living next to shopping and mall be important?  Will the house need to be next to your career or job, based on , assuming they may still go up.  Will your habits change such as
less shopping at the malls and eating out far less, will living next to a grocery store be more important than living near a lot of restaurants.  Will u need to get a fixed interest rate and buy a cheaper home.  Many times property taxes go up every year.  Will your job keep giving u annual raises?  Sometimes insurance goes up on your property often.
You will need to save money monthly for home repairs because when repairs are needed it’s usually a $500 to $10,000 repair.  Faucets, toilets, screens, that stuff, often needs attention. Will you get your money back on your investment if u remodel, many times u don’t get a lot of your investment back.  One thing many people underestimate is if they push themselves into a little bit of a higher priced home the extra cost of more and nicer furniture can really cost you.  Also the extra sq ft cost you extra for heat and for forced air.  Plus when u paint or carpet, anything maintenance, it’s just that much more expensive.  takes a lot of planning, not just for this year, but for the next few years outlook. Will you have two incomes, will a spouse stay at home, will you have kids.  Is your job seasonal, will you be laid off for a few months, you really have to think ahead on this stuff.  Plan ahead before you make your purchase, get qualified with a officer.

Please email any questions you have about real estate anytime to Ron@minnesotainvestors.com  any other questions, I will help answer questions for the person as a contest who adds the most links/description/reviews per day that link to this blog, posted on any of the following social networking site list: Blogs/Forums/Discussions Boards/Social bookmarking//Social Networking sites are acceptable:
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