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Vastu Shastra
Feng Shui
Planning Ahead
Your Priorities
Inspecting the Home
Choosing the Right Mortage
House Hunting
Conveyance and Legalities
Compromise- Needs and wants:
For those who do desire to become home owners, images of coming back to a welcoming home after a day at
work, spending time with the family within the sanctity of its walls and pottering in the garden bring feelings of
security and happiness. However, it can be tempting to want it all now, and with that desire comes the danger
of over borrowing and getting into more debt than you can comfortably repay. It therefore pays to consider what
your needs really are and what you would be willing to live without. For example, if you are part of a couple with
no children and no need to work from home, could you live without a third bedroom and large garden? On the
other hand, if you have a young family would you consider moving to an outer suburb for the extra space it
would afford rather increasing an existing mortgage in order to maintain an inner city address? Make a list of the
factors that are most important to you, taking into consideration the length of time you intend to live in the
house and changes (such as starting a family) to your future circumstances. Making these choices will mean
compromising on some things, but you will be better off making sacrifices now rather than struggling to make
repayments later or finding there is no extra cash to take care of repairs or much needed renovations.
Setting a budget:
Once you have decided on the type of home you need, it is helpful to set a budget. While the amount you can
borrow will be limited by your earning capacity, assets and existing debts, lifestyle expenses and so on, do not
make the mistake of using this amount as a price guide for your home. Your budget should also include hidden
costs such as mortgage and building insurance, stamp duty, legal fees, searches and reports, furnishings and
fittings, repairs, maintenance and council rates. Be aware that even high salary earners can and do lose their
jobs, so do not use this factor alone determine the size of your mortgage. Take into account possible future
lifestyle changes such as periods out of work, or moving from a double to a single income household with the
arrival of a new family member. If you are making a first step into the property market you may have to accept
that your first home will not be everything you dreamed of but remember that even the humblest of homes can
be beautiful with a few personal touches. Your aim should be able to buy a home you can comfortably afford to
repay over the long term with the goal of being debt free in the shortest possible time
Your preferred area :
Most people decide on a preferred area based on their budget and lifestyle. Others may have a few areas in
mind, and are just waiting for the right property to come along. There are several factors to look out for in
selecting the right location. Look at the vitality of the suburb: Is there a sense of community spirit? Are the
recreational and sporting grounds maintained? Is the local council proactive in improving public facilities such as
libraries, shopping centres and street scapes? Consider whether the area is safe or if there are known problems
of drugs, violence, vandalism or other street crime. Paying more for the house where you will feel safe and
happy is far more desirable than moving into an oppressive area. This is important for the sake of the house
maintaining its value should you need to sell in a difficult market and is especially true if you intend to live in the
home for many years. Buying cheaply when you do not like the home or the area is going to make you miserable
in the long run and negate any of the benefits you had hoped for in savings. The right home should be more
important than a cheap price unless you have the vision and personality to put up with less than desirable
circumstances in order to accomplish a longer term goal such as anticipating that an undesirable area will
become 'in vogue'.
 

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