When you are looking at houses to buy, you are always going to come across those that seem absolutely perfect, if only that they are a little outside of your price range. This can be a disconcerting experience, and you can find yourself feeling as though there must be a way to make it happen and to get hold of that dream house. Well, before you write it off as impossible, it’s a good idea to try all possible angles and see whether it really is possible. In this post, we’ll look at some of the things to consider in trying to afford your dream house.
Scrape All Your Savings Together
It might sound obvious, but first of all you need to make sure that you have considered every penny of your savings. If you have overlooked anything, perhaps a little nest egg somewhere, then you will want to include that in your calculations and see whether it might be something that could make a difference to your possibilities. Until you have at least done this, you can’t possibly write out any possibility, so it’s the first step to take. Put it all together and see what you really have.
Sell An Annuity
If you have any annuities that are coming your way now or in the future, you could look at the process of possibly selling them. When you sell your annuities, it opens up a lot more money than you might have thought you had, and if you are putting all of that money into property it is one of the safest things you can do with it. An annuity is any kind of fund that is being distributed to you over a number of payments over a period of time. Selling it could be all you need to do to afford your dream home.
Check Your Timing
If you have found a property that you consider to be ideal, but it is somewhat out of your price range, you might want to look into whether it could go down again in the future. This only works if you are not in a particular rush, but it’s something to consider. Look at the market and ask the professionals for their advice - if they say that the market is likely to go down again, then it could just be that all you need to do is wait for the property to get cheaper.
Let It Out
Finally, there is always the chance that you could afford your dream house simply by letting it out for a few years first. If at the moment you could not afford the mortgage, then you can buy it with the deposit and start renting it out - with the rent money then going straight to paying off the mortgage. A lot of people do it this way, and it is a powerful and useful means of ensuring that you can afford your dream house much more easily.
Look At The Future
It is difficult for a 30-year-old to estimate how much money he needs to put aside for a peaceful retirement. However, it is necessary to think carefully before starting to save, because the amount to invest depends on several contexts, in particular the standard of living. It’s important however to look to the future. After your dream house has been purchased, you must think about the future. Will you want to sell up and downgrade? Or emigrate to another state or country? A good savings strategy is therefore essential in order to protect your capital from inflation. Placing your money in a traditional savings account is an alternative, although its remuneration is not sufficient to mitigate the effects of inflation. Although it is necessary to use a savings account comparison before making a choice, no medium currently yields more than 0.9% of return.
Let’s say you have had your eye on retiring to La Posada since your youth, you will need to work out how much you may need for this and if you will have left over for the future. Opening a pension savings plan would be the best solution, because some insurance companies offer this type of product with a fixed rate of over 2%. This will allow the saver to cope with inflation, especially since this investment has tax advantages, in particular a tax reduction of 30%. You can own your dream home now and you can own your dream home in the future too.

CANDY TAI is a wife to David and mom of 5 with a degree in Communications. She's a native Texan (Hook 'Em Horns!) who's been making her home in the Kansas City metro area for nearly 15 years. She loves being able to shuffle her kids from their various sports activities, piano lessons, and school activities. She enjoys fashion, beauty, reality TV, and moviegoing.
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