Life as a House: Tips for Every Stage in Owning a Home

couple with a new house

Buying a house can sometimes be overwhelming. Yet, it doesn’t have to be. If you divide this process into small, edible chunks, it will be much easier to handle.

With that in mind, here are four things to consider.

First Things First

If you are a business owner, you will probably work together with a financial expert before deciding on opening a second branch for your organization. You will also create a budget and make sales and profitability forecasts. If you work in the transportation industry and are thinking of becoming an independent hauler, it would serve you best to familiarize yourself with financial management and other accounting practices for truck drivers.

The same goes for your house. Before choosing whether to buy a new property, purchase a second-hand home and renovate it, or build one from scratch, make sure you are familiar with the financial schemes that each one entails. For instance, depending on the residential property you buy, you might get local and state tax benefits, as well as other government incentives.

Going House Hunting

Once you have taken an honest look at your current financial situation, the surrounding intricacies, and made a choice, it is now time to start looking for the house of your dreams. If you decided on building a property instead, these same tips would apply to finding the most suitable piece of land. Some of the most important ones are:

  • Looking at a wide variety of options from different sources. Don’t focus your research on online sources alone. Talk to real estate agents, friends, relatives, and anybody you think can give you solid house advice. And don’t buy the first house or piece of land you see. Even if it is love at first sight, at least give yourself the chance to look at one or two alternatives.
  • Asking yourself the right questions. The most important question you need to ask yourself is whether you see yourself living in this place long-term. If the answer is “absolutely yes,” then you might have found the right match.
  • Talking to the neighbors. When asked for their advice in a sincere, open manner, most people will tell you the truth. So talk to a few of your future neighbors. Ask them what they like and dislike about the area and why.

Finding the right home is not something you should rush. By taking the time to go over these tips, you will maximize your chances of making the right choice.

real estate agent

Getting a Mortgage

Did you know that in the United States the longest mortgage term is 50 years? Imagine how low your monthly installments would be if your bank were to approve this. And while you do that, try to calculate the amount of extra interest this would represent over half a century.

As you can see, there are advantages and disadvantages to everything. The key lies in finding the best solution for your specific needs. For instance, if you are 22 years old and recently graduated from the university, a long-term mortgage with a fixed interest rate would be a good idea.

But if you are in your mid-thirties and have been working a stable job for more than a decade, you might want to consider a shorter-term at a higher interest rate. Of course, it all depends on whether you are single or married with kids and the type of job you have.


Let us fast-forward a few years into the future. You found the perfect home or piece of land on which to build it. You did your due diligence and selected a mortgage that fits your age and financial resources. Finally, you and your beautiful spouse had a few kids and suddenly find yourselves running out of space.

This isn’t an uncommon situation. It is the story of most lives in most countries around the world. It is the time when you have to decide whether to renovate and expand or sell.

If you decide on the former, remember once again to look at your current financial situation and the reasons for your decision. Perhaps you could wait a few years until your kids go to college. Instead of renovating or expanding, you could look into DIY solutions to give your home a breath of fresh air.

As we have seen, there are important decisions to be made when becoming a homeowner. You have to take a look at your finances and choose the right place. You then have to select the best possible mortgage option. As time goes by, you need to renovate.

Whatever you decide to do, keep it simple and honest. Ask yourself what you want and why you want it. Remember, buying, owning, and living in a house is a lifelong process, one you should cherish every step of the way.

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