Buying a house is a very important decision and it is a life-changing phase in a person’s life. It could mean a fresh start for many people. However, this should not be taken very lightly. There are questions that you need to ask yourself and answer to know for sure that the decision that you are about to make is the best decision for you and your family.
The thought about living in your dream house in Australia is indeed very exciting. And to help you decide if it is time for you to start choosing among the beautiful houses for sale in Melbourne and buy one for you and your family, here are first the five questions that you should be asking yourself.
Do I need to?
Need vs. want is the first consideration. And your first priority for this issue is the necessity – if you truly need to buy a house now. You should ask yourself if renting will not work any longer and you definitely need to buy a house now. Having a house you can call your own is a goal – a dream come true for so many people. However, you should be practical too so you need to ask yourself if you need to buy one now.
Do I want it?
The want comes next. Ask yourself if this decision of buying a house is what you want. Maybe you are just forced into buying one whether because of pressure, you want to impress people or you just see an opportunity to buy one. It is important of course that you really want it – like you really, really want to buy a house and it is something that will make you happy.
Can I afford it now?
After struggling mentally, it is time that you face the facts and figures. You should ask yourself if you can indeed afford to buy a house now. Do you have enough savings that you can use to pay for the down payment of the house? Make sure that your emergency fund is good and that you will not touch it to pay for the down payment.
Can I afford it in long term?
Yes, you may have the money for the down payment but will you be able to pay for the mortgage for the next years? You have to think of the long term as well. Make sure that you have a stable job or any source of income that will help you pay for the house mortgage.
Am I ready?
Lastly, you have to ask yourself if you are ready to settle down in one house and one place. Also, having your own house requires you to take on much more responsibilities. You need to ask yourself if you are willing and ready for all these.
It is best to be careful and sure about deciding something big like buying a new house especially if it is your first time to do so. Make sure to ask yourself these questions that we just discussed here and ponder on your answers as honestly as possible.