Home Buying Decision Making: 5 Factors

Daisy Ratnasari

Since, for most of us, the value of our home, is our single – biggest, financial asset, doesn’t it make sense, to do, everything, possible, to proceed forward, in the wisest possible manner, using the best, decision – making processes, and steps? Before, one begins, what is referred to, as house – hunting, he should, be, as prepared, and knowledgable, as possible, and give himself, a thorough, check – up, from the neck – up, to ensure, he balances, his emotional and logical considerations, in a head/ heart balance! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 key factors, which must become a component, in that process.

1. Your personal intentions: What are your intentions, for this property? Do you intend, to remain there, in the longer – term, or do you envision, it being, somewhat, of a short – term, starter home? Why are you choosing this particular property, instead of some of the competition? Why do you believe, it might, fulfill the combination of your wishes, needs, and personal vision? Will you be honest, with yourself, understanding both your individual strengths, and weaknesses, in moving forward?

2. Personal finances: How secure, do you feel, about your personal finances? Have you secured, sufficient financial reserves, to proceed, with far less stress, and tension? Will you be able to enjoy this residence, without undue stress, strains, and unnecessary tensions, and anxieties?

3. Your individual priorities? Why do you consider, certain things, to be priorities, and others, less essential, for you, personally? Why do you want to become a homeowner? How will it make your life, more fulfilling, or will it, actually? Are you able, to do, what you feel, you want, and need, rather than trying to fit – in, with the crowd, etc?

4. Job/ financial security: How secure do you feel, about your job, and future, financial security? Will buying a house, at some price level, become a stress, rather than a joy? Will you have the discipline, and commitment, to consistently, put away funds, every month, for contingencies, reserves, etc?

5. Your perceptions: It’s a matter of mind, over matter. If you don’t have a mind, it doesn’t matter. These famous words, from Groucho Marx, reminds us, our perceptions, and beliefs, are personal, and it’s up, to each of us, to handle life’s obstacles, either, as a problem, or a challenge, to overcome! Henry Ford is credited with saying, You can believe you can, or can’t. Either way, you’ll be correct. Are you prepared, emotionally, to own a home, of your own?

Will you make your decisions, about, home – buying, in a wise, personally fulfilling manner? Are you ready to be, up, to the task?

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Home Buying Decision Making: 5 Factors

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