PREPARATION FOR FIRST TIME - HOME BUYERS
Buying a home is a big achievement in life, some will buy in early age and some will buy before the retirement age and for some it will be remained as a dream. Proper planning and financial incapability are the two major reasons for the most of the people not getting their dreams fulfilled.
TRINITY recommends 3 steps in buying your home,
1.Start Early Savings:
Start monthly savings as you pay EMI to the banks, start with the least amount and keep adding more to that as you earn more. Do not take from the savings for any future requirements.
2.Invest in High Returns:
Divert your savings into high return investments like Gold, Land, Share Market, Mutual Funds, Fixed Deposit, Banks, Postal and trusted Chit Companies etc which gives you huge amount for down payment in buying a home and rest you can opt for a loan.
3.Decide how much you can afford:
Figure out your budget before buying a home. Make a note of your expenses and income to calculate how much you can afford. Go through your savings and investments to assess the down payment amount, which avoids you from bad debts and high EMI.