PART 1
2010 - A real memorable year for me in so many ways and more importantly for taking the first step towards settling in life now. We bought our first house! :)
Let me tell though, it has been a daunting task. The first time experience of looking, checking, choosing and then make the final decision is exhausting. I have been running in all directions from a year now doing just that. But when we finalised on our little place, it was an exhilarating feeling. And so the thought for this post came about. I want to share my thoughts and experiences in this 5-part series on how a first timer could go about settling for their first home. Check it out!
2010 - A real memorable year for me in so many ways and more importantly for taking the first step towards settling in life now. We bought our first house! :)
Let me tell though, it has been a daunting task. The first time experience of looking, checking, choosing and then make the final decision is exhausting. I have been running in all directions from a year now doing just that. But when we finalised on our little place, it was an exhilarating feeling. And so the thought for this post came about. I want to share my thoughts and experiences in this 5-part series on how a first timer could go about settling for their first home. Check it out!
Know your Objective
The purpose of buying the house does play a major role in the follow-up events. Know why you want to buy a house – is it to live in it or purely for investment. Would be giving it on rent post investment? Once you understand your objective, it will help to know understand the kind of environment you would want surrounding the property and targeting the property locations will become a little easier. And thus it will also help to determine the budget, the loan amount, your ability to pay the loan back, the proximity of other locations,etc.
We had to allocate a higher budget because we planned to live in it soon. So proximity to the market place, nearest station, nearest mall, transport, etc. all the jhingbang mattered. It was not easy to have the cake and eat it too. It proved to be the most difficult task to ensure that the property would be calm and peaceful andyet provide access to the outside world.
For a pure investment purposes, however, location, etc. will have minimum effect for the long-term perspective. However, investments done with a view to rent it out, proximities need to be considered.
Next Post - Setting Your Budget
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