Although often considered an important component of the American Dream, not everyone is cut and ready to own their own home! Home ownership consists of many components and aspects, but typically very few people take the time or effort to ensure that they are ready and prepared to proceed wisely and in their personal best. interests! While there is no such thing as a single way to proceed and make the best personal decision, since for most of us, the value of our home is our single greatest financial asset, there are many people, who may not want to assume responsibilities etc With that in mind, this article will attempt to consider, review, identify, and discuss whether you are prepared and ready to own a home.

1. voltages; tensions; uncertainties: Some people do not want to take on the responsibilities of the property, preferring to rent, so someone else takes care of maintenance, repairs, etc. What is the use of living anywhere, if it does not make you happy and personally satisfied? While there are always stresses and uncertainties in life, not everyone may want to have to deal with them – certainly – associated with home ownership!

2. Financial: When you rent, rather than own, you know and understand, quite accurately, your financial and housing considerations, needs, and requirements. One’s income is your income, and there are few, housing cost – variables, in renting, as there are, in owning! In addition, some are not ready, willing, and/or able to financially prepare, in advance, for the financial commitments and requirements involved. These include saving enough to expand your personal comfort zone and have the necessary funds for a down payment, mortgage requirements, monthly commitments, and necessary reserves for repairs, renovations, maintenance, and unexpected expenses.

3. Maintenance, etc.: When you rent, the owner is responsible for most of the costs involved. However, when you own it, you become its owner, and therefore you have to grow and prepare to be as prepared as possible for costs, expenses, etc.

4. Rent: While one typically rents on a one year lease, if you don’t enjoy the location, etc., at the end of your term, move on! While a homeowner can do the same, he is often more challenging due to market conditions, the process involved, etc.

These four topics are just some of the considerations. While owning is something most want and seek, there are some for whom, it might not be so!