10/23/18

One Home Wonder: How To Never Buy A House Again


By on 10/23/2018 04:47:00 PM

The average person moves eight times in a lifetime, which is a hell of a lot considering what goes into the process. And, this isn’t only a reference to the costs – it’s emotionally and mentally challenging. Will it happen, won’t it happen? Nobody knows until the sellers accept an offer and the mortgage is finalized.

The whole thing would be ten times easier if you never have to go through it again. Forget moving and stay put in a property with all of your needs. If that sounds appealing, the great news is it’s possible with the following tips and tricks.


Photo Credit

BYOP
“BYOP” stands for “Build your own Property” as the only way to make sure your home is one of your dreams is to create it from scratch. Purchasing one which is close and renovating it is an option yet it still feels as if it’s someone else’s. It’s tricky to put your finger on it but it’s a feeling in the pit of your stomach you can’t seem to shake. With a new house and land packages on offer, there is no reason to feel this way again. A word of warning: get ready to go over budget. And, find another place to live for six months to a year. The initial hassle is well worth it once it’s completed.

Renovate
Of course, the easier option is to stick with what you already own and give it a new coat of paint. Well, it’s going to need a lot more than a tin of Dulux but it won’t be as difficult as building a property from the ground up. The trick is to write down and sketch the features which are the most important to you and make sure they are included. Whether that’s a wet room or a massive kitchen, find a way to get the job done. Also, leave space for future renovations because styles change over time and so do homeowners.


Photo Credit

Rent
“Don’t rent; it’s dead money” comes the cry from homeowners everywhere, and they are correct. Rent is expensive and it could be put towards the cost of a mortgage and owning a valuable asset. However, some people aren’t bothered about becoming a homeowner just yet as they prefer the freedom of leasing. After all, there is no responsibility. All you need to do is agree a short or long-term deal and pay up every month. There is nothing stressful such as dealing with a bank and applying for a loan.

Diversify
Homeowners don’t only buy a property for the practicality; they need a nest egg too. Real estate is popular because newbies and novices believe it’s possible to flip a house for a considerable profit without much knowledge. If that means you own properties that you don’t live in, then you’re on the investment ladder. To avoid this scenario, an investor can diversify their portfolio by branching out into stocks, shares and bonds.

Even gold and Bitcoin are worth looking into to ensure all of your eggs aren’t in bricks and mortar.

About Angela

Angela is a freelance travel writer and lifestyle blogger, blessed with 3 beautiful daughters, 5 moody cats, 1 spoiled dog, and 1 very supportive husband.

0 comments :

Post a Comment