This is it! You found the home of your dreams, you have already been pre-approved for a line of credit and this home fits right into that budget you were allotted for a home. The excitement starts and you are ready to start your new adventure in this new home.
Then it hits you. All of the paperwork. The endless questions about where your money is going here and there. The endless questions of what money is coming into your accounts. The lender is watching your accounts like a hawk, because after all, they used to give loans to any Tom, Dick or Harry that walked in so now it’s this strict process to get a home, unless you have amazing credit. For those who have decent credit but are looking to buy a home for the first time, be forewarned that you will wish to give up on the process part way through it.
Once the home has been chosen. A price has been agreed upon. The lender is all set up and ready. You will attend a closing. At the closing you will sign your life away, so-to-speak, and walk away owning your home! An asset, something that you can do anything you want with, so as long as the town regulations allow you to do so. A place to call home without fear of being evicted because the landlord is no longer renting their property or wishes to sell the place to a new landlord person who then wishes to clean out the property to make room for upgrades or such. This is your home. All YOURS.
What people may not tell you, that I am going to tell you – the woes of home-buying:
- You are now the maintenance guy, it’s up to you to pay for or handle all issues that arise in the new home.
- You are now the man in charge, it’s up to you to ensure you are paying the mortgage, property taxes, water bill if applicable, town sewer bill if applicable, home owners insurance and other portions of your financial commitment.
- You will have a couple of years trying to determine the budget for your new home; cost of heating, cost of water, cost of sewage, cost of anything else that is now your responsibility that wasn’t yours when you rented.
- It has been said to take a good year or two to come up swinging after a home purchase, but after that first couple of years, you will be proud that you made it!
So while home-buying does have a lot of new responsibilities and issues that can arise as you work to figure out the new budget plan for a owned home versus a rental property, the end result is that as long as you work hard and stay focused, this will be a place where memories are made forever.
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There are many reasons why many students end up having a huge debt when leaving college – you can actually consider writing an essay on it. However, it’s a fact that if you pay attention to a few tips, you can keep yourself from running into any financial problem.
- Learn to use credit cards sensibly. If you use them wisely, you will be able to establish a strong credit history. And always keep in mind that “credit” is a loan, and you have to repay it. That’s why it’s a good idea to opt for a credit card with a low limit, so you don’t end up accumulating a huge amount of money as debt.
- Shop wisely. Avoid using your credit card for most purchases. Moreover, you’ll always be ahead of the pack if you don’t waste money on a ski trip, fancy stereo or new set of duds. For textbook, find some stores selling used books.
- Grab every opportunity of making some money. You can apply for scholarships, or if you’re good at writing, you may consider writing an essay in a competition. You can also take up a freelance assignment – you can work for an online company with the best writing service review. The good thing with these companies is that you earn more if you’re willing to put in more effort.
- Keep track of your spending and eliminate unnecessary expenses. Make sure you don’t end up paying any fines for parking or not returning library books or videos. In fact, it makes a lot of sense to leave your car at home, as it will reduce maintenance, insurance and gas cost. You can take public transportation or simply walk to your campus.
- Avoid eating regularly at fast-food restaurants. You’ll save a lot of money if you pack a lunch.
The bottom line is that if you keep your spending in check and find a way to increase your income – like writing for a site with the best writing service review – you will be able to come out of college without having to pay any debt.
The article provided by TopEssayServices