Musings Of a Real Estate Agent

It is amazing to see how cavalier some people are with decisional processes which can affect their lives and the one’s of their family for decades to come.

It does not take a genius to see how easy it is, in the short term, to become an owner if certain criteria are met—acceptable credit, steady job and a minimum of stability. But those lending institutions and their sales representatives, the latter receiving hefty bonuses when they sign you on, won’t be there when the chicken will comes home to roost, with your financial situation degrading by the hour due to overstepping your financial capacity. Foolish expenses need not jeopardize your well being if you know where to spend your hard earned money. For example, if you have an extraordinary urge to spend, go and buy a whole stack of bags of jelly beans and see if anybody cares. You will fill your spending craving (and maybe another craving as well!) and most importantly you will still be financially sound.

But for God’s sake if you are contemplating buying a large ticket item (and a house qualifies mightily in this category), go about it in a methodological and thoughtful manner and try to minimize the risks as much as you can. Consider giving a sizable down payment and seriously negotiate your mortgage since every point you shave on the interest rate could well mean thousands of dollars in your pocket later on.

Give yourself some breathing space to maneuver and expect every aspect of home ownership to be more expensive than you first thought. It’s in the nature of the beast.

Obviously, there are also great rewards in owning a house. It’s the place where you will live with your family and create unforgettable memories that will last you a lifetime.

Your investment in your house might also be the shrewdest move you’ll ever make and, managed carefully by building equity, will give you a financial nest egg that will be more than handy in your old age!