Deciding to buy a house can be a colossal choice. Whether you want to purchase a home for your future family or for a solid investment, it is important to consider all of the responsibilities that go into buying a home and home ownership itself. I am in the middle of this process right now, and one of my coworkers recommended that I read Wealth Can’t Wait by David Osborn and Paul Morris.
After reading, I was so glad I took the time to sift through this book. These two real-estate experts have built their wealth from buying homes, and they have fantastic advice for anyone looking to get into the home owner market.
They, along with the expert in this video, understand that home ownership can be hugely beneficial to anyone looking to attain more wealth. However, you have to be willing to put in hard work.
Before buying a home, one must do their research. Be sure to pay the extra money and get an inspection before you buy, because if you don’t you may find that there are unexpected problems with your home, all too late.
It is also important to shop around for a mortgage. Looking at 3-5 lenders until you find a price for you will help ease your monthly payments. Finally, when you have a home know that it is your responsibility.
Renters looking to buy are often blithely unaware that when they own a home they are the ones who have to take care of damages and problems. This can be extremely time consuming. Remember, owning a home can be financially and personally rewarding, but there is a cost, both to your time and money, so make sure you are ready for the commitment.