This particular blog entry could be material you would want to read during the day but probably
not something you would want to read before bed. Don’t say I didn’t warn you,
This is the Reality of Becoming a Home Owner
Potential home buyers often have very unrealistic expectations when it comes to buying a home.
This is because they have likely only considered the surface-level desires of what it means to
become a homeowner.
In part one I will mention the thoughts people often have dancing around in mind when they
first imagine becoming a homeowner.
In part two we will examine the checklist in deciding whether or not the property is a good
long term investment.
In part three we will uncover the harsh reality of the fees house hunters may have not
entirely considered before diving into homeownership.
PART 1 THOUGHTS
Owning a home sounds so nice...your very own place to do whatever you wish whenever you wish!
We aspire to mirror the lifestyle we have been accustomed to as a child in adulthood. The problem lies
in the fact that we tend to turn a blind eye to what it truly takes to own a home because we have our
focus on the following:
- independence
- growing one's family
- freedom of choice
- privacy
- territorial ownership
- retirement
All aspects of which depend on the calculation of where someone is in their life in terms of finance,
success, livelihood etc.
PART 2 CHECKLIST
Individuals need to be aware and do their due diligence regarding what exactly qualifies
a home in being a long-term as well as beneficial investment.
Such factors for deeming a property as a good long-term investment are the following:
- the home in question’s amenities
- the age of the structure
- the size
- the upkeep or condition of the home
- it’s location/municipality
- the type of establishment
All of the above fall under one umbrella which comes part and parcel with the property's ranking of value.
PART 3 REALITY
Here are the fees to consider in case reality hasn’t quite hit you yet and if you know the hidden truths,
then you likely have been aware of the following:
- the deposit fee
- the down payment fee
- land transfer tax fees x 2
- appraisal fee
- home inspection fee
- property insurance fee
- mortgage insurance fee
- lawyer fees
- title insurance fee
- property taxes fee
- maintenance and energy fee
- moving expenses fee
If the above mentioned are of concern to you and you wish to discuss further this topic with me don't be shy,
you can always reach out to me for I am happy to answer any questions you may have regarding this topic
as well as any estate process and as well as real estate as a whole,
To conclude, it is important not to have these elements frighten you because the dream can still be achieved
and definitely worthwhile, however, you’ll have to take these truths along with you in order to prepare for a journey
like no other.
I understand It’s a lot of information at one time and once again, if you have any questions, I want you to know that you can
message me to clarify any of the material mentioned. I would be happy to assist you in making your dreams a reality.
➤ benbasra@gmail.com
➤ (416) 564-7829