Have you ever had the urge to buy your first home? Having an urge is not good enough. You have to be sure that you are ready to make the commitment. If you’re still wondering if this is something you are ready, we will take a look at 5 clear signs that reveal your readiness to buy your own property.
A Progressive Career
If you are fresh out of the university in Nigeria, your chances of buying a house would be much slimmer than if you wee a career professional. The reason for this is simple. Money is an important factor in determining your readiness to buy your first house.
The more progressive you are in your career, the more likely you are to buy a house especially when you consider the fact that you earn much more money than a fresh graduate with a first job does.
As a working professional, there is a sense of pride that comes with buying and owning your own home. This also gives your confidence level a huge boost.
Owning a house is largely viewed in Nigeria as a sign of maturity and responsibility. Do you think your colleagues would think about you differently if they knew you owned a house?
When you buy your first house, it gives you a strong sense of fulfilment, helps you feel more established and gives your career a lift.
The City/Town Feels Like Home
If you have doubts about your continued stay in the city where you currently reside, buying your first home in the city in question might not be a really good idea.
On the other hand, if you have a growing attachment to the city you live in, you might be ready to buy your first home without being aware of it. Buying a home in such a space deepens your connection with the city.
Falling in Love
When you find a man or woman whom you love deeply enough to commit, you can buy your first house to solidify your relationship with this special person.
Buying a home has a stronger touch of performance when compared to renting an apartment. The decision to buy a home gives your significant other a powerful sense of dedication and commitment.
Love stories are never complete without the phase of creating memories and this is precisely what you achieve when you buy a house with someone you love.
Tired of Paying Expensive Rent
If your rent annual rent falls within the range of N3 million and N10 million, you are ready to buy your first home. The truth is that if you can afford to pay N10 million as rent, then you have enough money to buy your first house especially if you keep your needs realistic and achievable.
There are several financing options for your first home but with careful planning and the guidance of a real estate agent, you can become a homeowner much earlier than you imagined.
Freedom to Remodel and Redesign When You Buy Your First Home
Some landlords will allow you to paint and redesign your rented space because, despite the fact that you are currently living in it, you could be out of the place in the next 3-7 years depending on what your plans are.
At the end of the day, the landlord benefits from the redecoration you have done to his/her property. It’s quite different though when you buy your own house.
Owning your own home means you can remodel and decorate the house any way you desire so long as it falls within obvious parameters. There is a limit to how far you can remodel a rented apartment as some landlords are quite strict on renovations and remodelling.
When you begin looking more in this direction, you are showing more inclination to buy your first house especially if you don’t own one already.
Final Thoughts
As rents continue to soar year after year, the time will come when you begin to get tired of lining the pocket of the landlord with your rent. It can also be very restricting. You might have some remodelling designs you want to carry out in your home but can’t proceed with it because it is a rented space.
Buying a home has several advantages, as highlighted in this piece. There are things you should look out for when house hunting and also remember to ask the right questions before you buy your first house.
