Saving and Investing money for a homeArticles | Multidox
Home | Finance | ( 1 ) | Subscribe Posted by Felix Okoli on Thursday October 17, 2013 at 12:16:0:
Everybody dreams of having a good home someday right from childhood. In most cases, the dream comes to pass, while in some, they donít. Whether it comes to pass or not depends solely on the dreamerís efforts to make it happen. Because, its how you make your bed that you get to lie down on it. You canít be dreaming of owning a good home while you lavish your money on frivolities. This articles would cover what it takes or guide on how saving and investing money for a home.
So what are the steps you need to take in saving and investing for a new home:- Set or Have a Financial Goal: This is the first step to take when working towards saving for a home. The financial goals helps to give you a sense of direction to what our goals are. And the goals should be broken down into smaller bits of goals all working towards achieving the main goal. And this goal must be believable and achievable, if they are not realistic, they might be difficult to attain them.- Plan You Savings: This includes how much of your income would you put aside for investing and towards attaining the goal of owning a home. Certain percentage of your income should be set aside for such purpose and a monthly basis in a very different account and should not be touched.- Plan Your Investments: Plan your investments, because itís not every investment that is profitable. Some investments are risky and can leave you more financially broke than you were before, and this is not the plan.- Invest Well: After you are done with planning your investment, go ahead and carry them out with your some parts of the savings set aside for your goal. You can invest in stock (if the stock is still okay in your country and the company is reliable and expected to appreciate in its share value in a short while), Also invest in other fixtures that are less risky and that are hoped to appreciate within a short while. Always seek the advice of a professional before investing in any thing. And when the returns for investment comes out, donít over spend, also save some percentage of it and re-invest the rest
- Look Out For The Best Deal When Choosing Your Home: From the goal we mentioned above, you must have listed all that you need in a home, like the kind of house it would be, duplex, store building etc, number of rooms, Location of the house, etc. With this in mind, always look for the best deal within your limits and donít settle for any kind of house. Because this is your home, where you and your family would spend the greater part of your lives in.- Insure Your Property: When you finally done and bought the house, remember to insure the house, even though we donít plan for anything bad to happen, but to be on the safe part, always insure our hose and property with a good insurance company. So this article has gone ahead to explain basic guides to saving and investing in order to get a new home.
Re: Saving and Investing money for a home Posted by mr wasiu oloyede on Saturday October 19, 2013 at 5:51:6: may God bless you sir,i have buy a land in osogbo with 400000 naira only,by God grace,i will apply for the C of O,please sir,i am a contract workers which means my contractor can not offer us loan facilily,please sir,which nigeria bank can help me with loan as support with my C Of O of the land.please,i seriously offer your advice.thanks