Are you looking to upgrade everything from your home to your lifestyle? Check out this guide on how to improve your life and get a better home in the future.
So, you're moving on to a better stage of your life, and with it, you're also looking to upgrade everything from your home to your lifestyle. Whether you're currently renting or staying in a small unit, every couple must have thought of upgrading their home for one reason or another.
These are important times for you and I will gladly guide you through your journey to find a better home. So, what are the key steps that you should follow?
You need to calculate all of your commitments such as car loan, outstanding credit card payments, student loans, insurance, and any other monthly payments that you need to settle. Some steps that may help you:
What type of home do you intend to get? Condominiums, Bungalows, or Terrace houses? ? Below are the common startup expenditures you should consider:
In short, the price tag on your new house isn't the only thing you'll be paying especially when there is some hidden cost you may bear, so consider cushioning your expenditure with prior savings (personal & EPF ) and investments.
So your paycheck isn't exactly enough, neither is your partner's. Well good news, there's always help. All you need to do is look for one here:
Budgeting is always about planning forward. Not everyone has tons of cash lying around. Making sure that your income stream is stable is key to avoiding financial disarray and none of us wants to get fined by the bank for forgetting 1 month of payment. Don't be surprised, financial woes for the last decade have become the main factors for divorce!
It takes two to tango and when it comes to property purchase, you need lifelong commitment to set your life good for the long run. Consider also other commitments that may very well affect your financial situation for a good 20 to 30 years such as: