Do you indeed planning to buy a home?

Do you really want to buy home? First read or better to say ask ! Here's the most important question you should ask yourself before you purchase a home...

Know Just Why You Are Purchasing The Home

Agreed ... it may sound fairly straightforward, several people may have really no plan why they are buying a home in the first place. You may purchase a home to either ...

Live in it yourself.

To generate rental income.

To sell the home once it increases in value.

As a hedge against inflation.

Or a combination of some or all of these.

Most people look at homes they think they can afford, and purchase a house they feel reasonably comfortable buying, at the lowest price possible.

Well, that may turn out to be a wise strategy. But not always.

If you want to purchase a home for you to live in, then you may want to purchase just about any home you take a liking to. Because you are the one who will be living in it.

On the other hand if you are looking at selling the place later and making money from it, then that may not be the best thing to do.

You see, it's not always the least cost homes that appreciate the most. Surprisingly, the high end luxury homes may appreciate the most during several years.

Purchasing a home for turning a profit is a lot like trying to win in the stock market. You should know the market like the back of your hand if you really want to profit from it. If you treat real estate investing like gambling, then guess what kind of results you may get to see?

If you want to purchase a home to generate either rental income or to sell it later and profit, then investing in a home just because you like it may not be a very profitable decision. You may want to invest in a place that the market is likely to value a lot...

Study the local real estate market firstly before making such a decision, as to purchase a home.

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