According to an article on Yahoo Finance, it seems like one out of every four homeowners would not buy their home again if they had the opportunity to do so. This is eye-opening, to say the least, but not terribly surprising when given the fact that home-owning can be one of the most financially taxing endeavors that anyone can become involved in. However, from what I have seen in the article, the idea of regret is especially prominent against younger homeowners, which Bobby Jain may be able to attest to.
The report detailed that 28 percent of homeowners who were younger than 65 regretted purchasing their homes. This point is especially interesting when compared to 14% of homeowners that are seniors. It is important to note that those who are younger are, more often than not, at higher risk of making risky financial decisions. Does this necessarily mean that they have to come about? For those who are looking to purchase homes of their own, here are 3 ways to ensure that you have as few regrets as possible.
1. Understand the rates that you will be able to afford in the long term. Bobby Jain may tell you that housing costs should not exceed one-third out of your entire household budget. After all, it is likely that you will have other responsibilities to attend to, including family, electricity, and food. The article made mention of mortgage calculators, which can be used in order to give you a better idea of what you need in this regard. Financial authorities like Jain will be able to agree.
2. Make sure that you have a real estate agent that you can depend on. This is especially important to note since not everyone will be able to attain the optimal guidance as far as home-owning is concerned. If you want to know what the best agents entail, these individuals are ones who will listen to what clients need and go on to choose the options that best suit the interests of the clients in question. If you take it upon yourself to conduct research, your chances of being helped will only increase.
3. Keep in mind that your neighborhood is going to be integral to your home-owning endeavors. Ideally, you will want to travel around the neighborhood during certain points of the day so that you can gain a better idea of what it is that you will be in for. Perhaps you will come across a couple of details you wouldn't have noticed otherwise, like noisier neighbors during the mornings or too much traffic at night. Regardless, the neighborhood your potential house is in can make or break your choice.
The report detailed that 28 percent of homeowners who were younger than 65 regretted purchasing their homes. This point is especially interesting when compared to 14% of homeowners that are seniors. It is important to note that those who are younger are, more often than not, at higher risk of making risky financial decisions. Does this necessarily mean that they have to come about? For those who are looking to purchase homes of their own, here are 3 ways to ensure that you have as few regrets as possible.
1. Understand the rates that you will be able to afford in the long term. Bobby Jain may tell you that housing costs should not exceed one-third out of your entire household budget. After all, it is likely that you will have other responsibilities to attend to, including family, electricity, and food. The article made mention of mortgage calculators, which can be used in order to give you a better idea of what you need in this regard. Financial authorities like Jain will be able to agree.
2. Make sure that you have a real estate agent that you can depend on. This is especially important to note since not everyone will be able to attain the optimal guidance as far as home-owning is concerned. If you want to know what the best agents entail, these individuals are ones who will listen to what clients need and go on to choose the options that best suit the interests of the clients in question. If you take it upon yourself to conduct research, your chances of being helped will only increase.
3. Keep in mind that your neighborhood is going to be integral to your home-owning endeavors. Ideally, you will want to travel around the neighborhood during certain points of the day so that you can gain a better idea of what it is that you will be in for. Perhaps you will come across a couple of details you wouldn't have noticed otherwise, like noisier neighbors during the mornings or too much traffic at night. Regardless, the neighborhood your potential house is in can make or break your choice.
About the Author:
If you'd like to learn about the greatest methods to stay financially solvent, consult Bob Jain for further details.. Also published at Bobby Jain & 3 Tips To Make Home-Owning Financially Easier.
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