financial decisions before buying a home
TRANSCRIPT
Financial Decisions before buying a home
Deciding on whether to buy a home or keep renting?
Understanding the pros and cons of both and with the proper analysis of the factors, you make a decision whether to buy a home or keep on living at a rented
home
Buying or renting can be a very crucial decision to make and thus the factors should be analyzed properly
Get insured
Carry out the process of Insurance
Never stop with just the life insurance as most people are just limited to the Life
Insurance Go with the term ‘Insurance’
Take various kinds of Insurance as it helps in the process of saving tax and also offers
several deductions
Emergency Fund
Set Emergency fund aside
Set aside a portion of money during the Emergency
You should set aside a portion of money (around 3 to 6 months of your expenditure) in a separate emergency
fund
Career Choice
In order to get properly adjusted to the lifestyle you need to get the proper career
By the age of 30, you are required to perfectly make
a career choice and for this purpose if you are not satisfied with the job, start soul search
Make yourself perfectly set with the career of your choice and then try to take a loan
Investing in yourself
There are always two ways for the increase in savings
One is the increase in the savings by reducing your expenses and the other is the increase in the
salary
Always remember that the second option is the best one.
Try to invest in order to earn more
Right time for investment
It’s the timing of the buying process, which decides when to buy your home
Deciding on the best time is what is needed before buying home
Right investment at the right time is the best decision, which a person can make
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