Yahoo Finance posted an article that, simply put, one out of every four individuals who own homes would not buy them again if the chance ever rose to the surface again. To say that this is a surprising statistic would be an understatement but when given the details, it's surprisingly logical. After all, not everyone has a firm grasp on the idea of finance and assistance may be required, whether from reputable names like Bobby Jain or what have you. The article said that younger homeowners are more at risk in this regard.
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. Look for a reputable real estate agent. I stress the "reputable" part because it seems like there are many who simply do not lead people in the right direction as far as shopping for houses is concerned. The best agents, from my perspective, are those who not only listen to the needs of clients but are able to offer a number of choices that suit their needs as well as their budgets. Make it a point to research online if you are concerned about which agents are best.
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. Look for a reputable real estate agent. I stress the "reputable" part because it seems like there are many who simply do not lead people in the right direction as far as shopping for houses is concerned. The best agents, from my perspective, are those who not only listen to the needs of clients but are able to offer a number of choices that suit their needs as well as their budgets. Make it a point to research online if you are concerned about which agents are best.
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.
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If you'd like to learn about the best methods to stay financially solvent, consult Bob Jain for further details.
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