Buying a house and making it into your home is perhaps every human’s most primary emotional need. It is also a goal that’s deeply linked and impacts our money life. That’s why I never rush into buying a house/home. Consider some basic things before you do.

1. You are not just buying your home for today, but also one that will feel like home 10-15 years later. Consider your possible circumstances at that stage, the size of your family and so on before making a choice.
2. If you are buying the house on a loan, then consider that the loan amount should not be more than 40%-50% of the home value. This way you will keep the EMI at an affordable level. If you can’t afford to pay a down payment of 50% or so, then wait a few years and save up till you can afford it.
3. Buying a home is not the only way to live. Think about renting if your home buying decision results in long commutes to work, school and so on. The time you spend with your family has to be more important than owning a home.

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