I've read one of article from Yahoo! Real Estate. And this is very interesting to share with others.Most of us believe by buying house will giving a massive of benefit in the future. It is true.
By owning a house, actuall we filled our basic need. This home can be a good asset for long term.Home with good condition, good neighbourhood, have a beautiful evironment and also near to basic facilities will be a great residential for everyone.
There are 2 major factor that will determine the power of ability to buy a house.
Firstly, it's all about market.Let say you have a stabil income from your job, that make you able to pay the mortgage for 15-30 years. Yes...Of course you have the power of purchasing at that time. Anyway, we have to make sure that our purchasing later will not making lost at all.
The market will be a determination to your purchasing action wether it is a profit or a loss.
Home can be rent to others with certain of rental amount. Its a good cashflow. However, we must look at market situation before taking action of buying a house. For certain areas, there are lot of houses at expensive price instead of rural area. So, if the market for housing price is fall, certainly it will effect your expectation of profiting from your home.
Secondly, your ability to pay the mortgage is based on your job, your healthy and also your income stability.If there is something happen in your life such as change your job, you have to recalculate your financial condition. So it will provide you with good backup plan.
As a conclusion, only buying a house if you think that your asset is never been affected by your situation.
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