Make Your House A Profitable Investment

The fifth cure for a lean purse is to “ make of thy dwelling a profitable investment ”.

You have worked hard, saved and invested your earnings and you would also want to live a good life. You would want to own your own home that is comfortable to raise your family and enjoy the good life in the nice comfort of your own home. A comfortable house is a great source of happiness.

You would also want to ensure that the house or home that you want to own is located in a area which is conducive to raise your family and will appreciate in value over time.

The purchase of a home is typically the largest investment that a person (or family) will make during their life. Because of this, great care and thought should be given to this process so that you’re prepared for what will happen. The type of property, the price, the location will affect whether your home will be a profitable investment subsequently if you decide to sell later

Also, instead of renting, it is advisable to owing you own home and after the mortgage is paid, it can significantly reduce your cost of living.

Here’s an idea for you… If you buying a home, pay as much deposit as you possibly can. Try to avoid introductory loan rates and reduce the loan period as you can comfortably afford the monthly mortgage payments. If your interest rate is cut, continue to pay the same amount so you reduce your debt faster. And in time, you will make your home a profitable investment.

To your success and financial abundance.

By Michael Tay   www.michaeltay.com

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