5 points you should think about .. before buying your lifetime apartment
Owning a house is a big investment, not to mention the stability that you will get. Briefly, buy the house in which you want to live for at least ten years with the features and space you need, whether now or in the future.
The goal of buying is to improve your life, not to trade. Your home is more than just a financial investment; It is the place where you sleep, eat, host your friends and raise your children, and it is the place where you develop your life.
The housing market is so unpredictable that buying a (primary) home just because you think it will generate a substantial short-term financial return. You will likely live in this home for many years, so make it your first priority to have a home that meets your needs and helps you build the life you want.
Focus on what matters to you
Focus on finding a home that you can afford to meet your needs, and not to be distracted by exaggerated finishes and specifications that may exceed your budget. Premium finishes and specifications often raise the price of things you will only appreciate it temporarily.
Make a list of your basic needs, for the house you want and the nature of the neighbors you want to be around. And commit to finding a home that meets these needs, without paying for extra items and luxuries you don’t need.
Set a budget and stick to it
It is important to set a budget early and before you even begin the search process.
The factor that worries our budgets is the location, and there is nothing wrong with that issue itself. Local schools are important and the prices of the surrounding markets are also important. Psychologists tell us that commuting and short daily movement improves life. But be realistic about the local market and your financial capabilities and know what you want to sacrifice, whether it is related to the workplace, the nature of the neighbors, or the surrounding services such as schools and markets.
Keep a strategic reserve for six months
In case you bought your home by paying in cash or by borrowing from financing agencies and the down payment is a large amount, it is important to maintain a strategic reserve and keep it separate from your regular bank account.
This reserve should cover six months of living expenses for emergencies like falling ill, facing unexpected expenses, or losing your job. The strategic reserve will not only cover the consequences of financial emergency situations, but also give you peace of mind and reassurance.