| Many people rush into home ownership - | | | | 3. Do you realize how much the house you are |
| convinced that rent money is "dead money" - | | | | considering will cost to run? Many people who |
| they are desperate to borrow to the hilt and | | | | have always rented don't realize how much it |
| enjoy the freedom of being a home owner. But | | | | costs to get minor maintenance done around the |
| are you sure you are ready for the responsibility? | | | | house actually costs. |
| Owning a home is a bit like getting a puppy - it | | | | 4. What if mortgage interest rates go up? Rates |
| can be a lot more work than you first imagined! | | | | at the moment are at historic lows - so don't |
| So before you take the big step of sitting down | | | | count on them staying that way. |
| with your mortgage broker think abut these five | | | | 5. Are your renovation plans realistic and will they |
| things: | | | | actually add value to your home? Don't guess get |
| 1. Is your income or job secure? What happens if | | | | a professional estimator in to help you figure out |
| you lost your job how easy would it be to get | | | | whether your house plans make any economic |
| another. | | | | sense at all! |
| 2. Are you planning a major change in | | | | Buying a home is a fun and exciting time but its |
| circumstances within the next few years - such | | | | also a huge emotional and financial commitment - |
| as having children - this can mean that you have | | | | think carefully whether it right for you before you |
| you will need to shift and all the costs of buying | | | | jump into signing up for that home mortgage. |
| and selling a house will come into play. | | | | |