Real estate is one of the largest parts of most people’s wealth snapshots.
Just because you qualify for it does not mean you should spend it. Don’t get caught up.
On the flip side, you may be able to make the house of your dreams a reality with the right planning.
Understand the other costs that will come with the purchase of this property.
- Take assessment of your cashflow – what income comes in and what responsibilities do you have to pay for. Include it all, because you don’t want this new investment to slow your lifestyle.
- What are your lending options? – Working with your mortgage advisor understand what down payment best serves your long and short term financials.
- Lastly, don’t get caught up in the flashiness or comparing yourself to what other have. Trends will change. Consider things that are important like location.
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