A lot of homebuyers get caught up in the thrill of bagging a bargain. After all, it’s easy to get swept up in the excitement of making such a big decision. But getting caught in the moment can often mean that one can forget to consider the most logical of things. This, unfortunately, is seen most amongst first homebuyers. Their lack of experience and forethought can see them buy a house today, book removalists tomorrow… only to enter into a world of debt that for them never returns significant benefits.

Photo: sean dreilinger
So before you buy your next house, there are a number of things you need to do.
#1: Don’t buy it if you cannot hold on to it for at least two years
If you can’t see yourself owning the property in two-three years time then the property isn’t for you. In the current economic environment, servicing the debt is harder because the price of living has increased. If you cannot hold onto the property for a few years, you may end up having to sell at a time when prices are falling, which means you could be worse off. Read the rest of this entry »








