#DearNSPFellow: 7 Smart Ways To Buy or Build Your Dream House Before Age 40

Aiming to buy or own a house before age 30 maybe seem as being an overachiever, so we raised the bar to an age group that fits our region. And you don’t have to be an overachiever to own your dream home before age 40. We all have different objectives and maybe yours is to own a house before a certain age.

Interviewing some real estate experts gives me the how-to in joining the league of young men and women getting their own houses before age 40. And my search also indicates that it’s easy to get your own apartment even before age 30 if you are exposed to the right information, save and spend properly.

Here are the pro tips. But before you dive into this, remember, don’t give yourself any unnecessary pressure. You can equally set your own target and decide how to meet it.

1. Start Saving Now
There is a saying that the best time to start was 10 years ago and if you miss that, your next opportunity to start was yesterday. The time to start saving towards your dream house was ten years, your next opportunity was yesterday and if you missed that, you have another yesterday today to start.

A solid financial backing can make sure you are ready to buy or build a house. So whether you in the university now, or doing your national service or you just started your new job, you can also put something aside towards buying a house in the future.

Plan your savings according to your income and how old you are, reading this article. Using savings is a better way to prepare for your house than relying on loans. We don’t use loans in buying houses, that won’t be a very smart financial move.

2. Stick To Your Budget
What is your monthly income, what is your monthly budget and how do you spent your income? Start analyzing this now. Many mobile apps can help you plan a budget.

Determine how you want to spend your money, having in mind that you want to buy a house before age 40, or 35 or even 50. Categorize your expenses and compare them to your income.

This can help you track how you spend money and help you cut down on unnecessary expenses. You don’t need to stop having little fun here and then completely, just cut down on it and stick your budget. For example, if you are used to eating out probably because you are not married, re-consider and start cooking most of what you eat in the house.

3. Research On Your Dream House
Do you just dream of having a home? Have you taken time to search out the details on the type of house you want to buy or build? How many bedrooms do you want and why? What other things do you need in the house? Where should the house be situated-the urban or the city? Or you want a property separated from everyone and everything? Should your dream house be facing the sea so you can have a beach to walk on in the morning? Or you want to build on top of a mounting? Well, that’s just by the way.

The cost, experience, comfort and responsibilities vary based on all the features and more mentioned above. Houses in the city will cost more and offer more luxury than the one in the urban areas. So take your time, research and build or buy a home that will offer you happiness for as long as you want.

Researching these details will help you know how much you need to save towards the house. And prevent yourself from chasing a house you can’t really afford.

4. Think Of Investment Now
I’m an entrepreneur and I want to say that you don't need to live in the first home you own. Your first property or house could be an investment property. An apartment or apartments you can rent out for income.

Buy or buy a modestly priced house in a suburb and start collecting rent, save that money towards another house. This may not provide profit immediately but they do produce returns over two or three years. And once you have that solid investment putting money into your pocket, you can put the proceeds down as savings towards a second house.

By the time your second house is ready, you have already created an income channel that you can depend on for as long as you want.

5. Buy Or Build The House You Need, Not Want

Buying or owning a property is not a competition. The society may pressure you into buying a house or even push you around so that you get a house they want for you.

Real estate agents, property owners, friends and family may pressure you into buying a particular property, but you have to decide what you need and not what they want for you and not even what you want but rather need.

Because you can buy a house you don’t really need, maybe a mansion with lots of rooms and a large compound you do not need and then you end up hating yourself and the house later.

This is why the second point, research, is so important. As you invest in real estate, you can use the time you waiting for the returns to actualize your housing needs and buy a house that will actually serve a purpose in your life.

6. Consider Buying A New Construction
New constructions or new development are new sites that are being developed by real estate companies. The possibility of finding a great deal when you are buying new construction is utterly great.

The Joy Habitat Fair is a major housing event in the country that brings experts and industry players in the real estate sector together to offer solutions to the housing needs of citizens in the country. During this fair, new constructions are mostly marketed by real estate companies. This is one example of an event that can help you land your dream home at discount prices, so wherever you are, keep an eye out for information and again, try doing your own research.

7. Pay What You Can, When You Can
You don’t need to wait till you win a lottery before you start investing in your dream house. You don’t need to wait for a big bonus or raise from work before you start putting money aside for your house. You can start by paying what you can into your savings when and as you can. No matter how small the amount may be, put it down.

Bottom Line
As discussed above, there is no good time to buy or build a house than now. The prices of lands and buildings keep appreciating and you can’t say you want to wait till the prices are affordable. You have to start something now, invest in real estate companies or your own house which you can rent out and make income.

Apply these 7 steps now and if you need help looking for a house or property to buy or you want to build, don’t contact me, look for a real estate company. Remember, times are hard and money is hard to come by, so look for a credible company.