Having your own house is like a dream come true for most of the people, especially because for a common man, it takes ages to save enough to buy his own property and on the top of that, if he is targeting to buy that in a metro city that he probably might have to work his fingers to the bone, in order to achieve that. The Indian society has now started to inculcate the progressive culture where women also earn to maintain themselves and their family. Despite both man and woman working, it becomes difficult to live in an owned accommodation.
However, there are numerous ways and means to make that happen.
Invest smartly in the initial years of your marriage
The initial years of your wedding are like golden years and you feel like making the best out of that time by exploring new places together, buying stuff that makes you happy, doing road trips and what not. While all such things are important but you shouldn’t forget the fact that if you invest wisely today then your future will be secured so it’s important to scrutinize carefully different investment options that would fetch good return and trust me, these are ample!
Keep a tab on upcoming real estate
Investment in real estate is one of the costliest investment and hence you need to think twice about where and what kind of property you need to buy. For that, keep looking at different property options. You can also invest in other cities, if not in the city where you stay; this way, you will have the option to sell it in future to buy a new property at the place where you wish to stay in the long run
Do not hesitate to take a loan
It is a very common trend being observed in the millennials today that they are reluctant to take a liability on their head. While it is good to not live with a debt on your head but paying rent every month for an accommodation that doesn’t belong to you equally pinches. Rather than that, start your planning early, to buy a home for yourself and take loan if that is important. This way, you will manage your expenses wisely and side by side, your money will not go in paying monthly rent, rather it will be judiciously utilized to build your own home
Take up a part time work
If you feel that your 9-6 job is not very fulfilling then it is good to take up something part time, it could be anything that you like, you just need to push your limits a bit more to work more. It will help you in two ways, you will be able to devote time to something that you like and at the same time, you can put that extra income in savings, that would be an additional amount in your kitty
Buy a house as per your requirement
Who doesn’t like a house with ample space and plush furnishings, but even a small place can look stupendous and beautiful by refining its aesthetics. While buying a house, people generally plan a bigger place and end up digging a hole in their pocket. If you are able to afford a big place for yourself then there is nothing wrong in spending on the same, but if you feel that the loan amount for a bigger house would unnecessarily burden you then it is absolutely alright to settle for a smaller one. After all, at the end of the day, it is the people who live in a house who make it a home and not its square ft area. Even a small and simple place can look appealing if you plan it’s interiors according to the space availability and in future, if your pocket allows you then a big house can be bought easily with some minimum amount of additional Investment.
Invest when the property prices slash
In the long run, property prices fluctuate and the intensity of the same varies from place to place. Therefore, keep scrutinizing the real estate market and invest when the prices slash a bit. For that, study the factors that might lead to a drop in the prices, they could be either economic or certain socio-political factors so be smart enough to gauge the impact of these factors on the real estate market, it will help you to make a wise investment
So folks, if you plan your expenditure and investments wisely then buying your own house is not something that is unachievable.
Big or small, having your dream home is a pleasurable feeling. After all, the area of your house doesn’t define your success.
Even Warren Buffet, one of the richest people in this world spent most of his life in a 5 room house and till date, he terms it as one of his best Investments!!
