July 26, 2020
The Home Ownership Journey
Let us talk home ownership.
Home ownership is considered a self-actualization point among a lot of people. The point in your life where paying rent is non-existent. Alot of us want to reach this point in life. But do you know, there are different kinds of home ownership. In addition to that, the journey to home ownership is also different and varied for everyone. Not everyone likes the same things.
owning a home does not necessarily mean buying yourself land, and building a home for yourself. It also means buying already constructed houses, and making them your homes. It can also mean buying yourself apartments and moving right in, and making them your home. Or you can get yourself prefab houses, and build yourself a home in less than a week, and still that would be your own story to home ownership.
Basically home ownership is different for everyone.
There are several other factors to consider :
Are you a first time home buyer or a seasoned investor?
One has to understand these are two people on very different tangents in life. More often times than not, we tend to think these two peoples’ needs are the same. Whilst the fact is always far from the truth. Once you understand where you stand, you are able to understand what you need, and why people buy and not build homes.
While building your home is a great achievement, sometimes people tend to forget the overhead costs that follow up later. Costs such as security and compound maintenance, and other unintended costs that follow up later. While for some, these costs will not dent their budgets, for others they prefer paying a service charge, and all the expected and non-expected costs will be covered by the surcharge fees.
What stage in life are you in.
There is no set age as to when you should own a home. Everybody has their own path charted for them. So one can own a home while still in their teenage hood, whilst others will own their first home in their forties. Thus such variables ought to influence your story of home ownership, since a young family starting out life and owning their first home, cannot be compared to a couple with young adults who are about to own their first home.