WHEN YOU SHOULD HOLD UP ON BUYING A HOUSE.
Buying a house becomes a priority for most individuals as it seems to be a certain kind of unwritten, milestone for adulthood in most climes and certainly in most parts of the state.
But there are certain factors that must be looked into before buying a house for sale in Lekki or anywhere in Nigeria or globally as these can in the long-term become a source of stress and tension for the owners of such properties if some of these factors are no9t appropriately looked into and well-thought out.
Most people become pressured into buying a house based on situational, communal, and cultural factors which can be totally distressing for such persons, because as much as buying a house can be fulfilling and ultimately satisfying, it can also become a source of tension and stress for the buyer if this clashes in any way with the buyers expenses and long-term plans.
You should invest in buying a house when you feel ready and when you are sure your finances can still hold up even after completing the purchase of the house as you really do not want to become poor after investing the bulk of your finances on that property.
These are some reasons why you might not want to buy a house now
If you have a backlog of debts that are relatively huge and might take relative amount of time to pay back, buying a house might definitely not be the best decision you could make at the moment, especially if you are planning to borrow to foot the bills of the house purchase as this will only plunge you into more debt that could take a toll on your lifestyle and health.
Since houses are heavy courses of financial investment, doing this on debt could be de-stabilizing without a proper and realistic pay-back plan.
• Home maintenance costs
No-one buys a home and would not have to push out some money to help in the maintenance of the house. And if you are not ready to handle the costs of maintaining a house, buying a house might not be the best option for you as just renting a space might prove to be better adapted to your situation as house maintenance could be inevitable at different intervals with necessary house repairs and fixes.
• You might be moving soon
The idea of owning a home is based on the assumption that you would be staying for a relatively long period of time in that location, and relocation is not in view for whatever reason.
So, buying a house while not sure that your work will keep you there for longer, or any other related aspect of life might not be a great decision well, except you are planning to lease4 it out and get rent on it, or you simply want to hire a manager to take care of the house for you..
A lot of home-buyers have reported buying their houses as a result of pressure from family and friends who simply want them to buy a house and ‘settle down’.
This is not a truly valid reason for buying a house, as it is advised to buy a home when you are ready.
Nedcomoaks, real estate company offers consultancy services for those seeking to buy land and houses for sale in Lekki and its environs, with real-time consultancy on all your real-estate concerns.