Savvy Home-Owner Tips and Advice

1. Once you have determined how much the bank will lend you (ie: your borrowing power), you need to examine your immediate and future goals.  Sure, the bank says you can do it, but do you want to max out your income on repaying bills and loans, leaving little left for having fun?  Consider what may lie ahead for you:
   • Are you unmarried, just finishing high school/college or getting ready to get married and/or have children?
   • What about your children’s education/future?
   • Do you have elderly parents that eventually will need your help?
   • Do you have proper health and life insurance for unforeseen circumstances?
   • When I have children, will the income be affected by a change in my job/salary/hours or become a stay at home parent?
2. Set a budget for furnishings, insurance and general house maintenance.  Realizing that a new home is one of the biggest responsibilities you will have in life, adjust your expenses accordingly so that you can continue to enjoying life.  It’s hard to keep your spending in check with all that’s involved in buying a home, especially if you’re a first time buyer, but keep in mind you have to PAY for all this great stuff you now have.
3. Become a Do-It-Yourself (DIY) homeowner and save TONS of money.  If you are physically able, do your own garden, pool maintenance and house cleaning.  Expenses such as these can add up to over $1,000 per month or more.  That same amount can be applied to your mortgage and take years off of that, or you can save it for a vacation or future investment!  Get the whole family involved in the housework – its fun, rewarding and everyone can benefit from the savings!

Real Estate is the best way to go when you’re looking at investment options.  You are guaranteed appreciation, while either enjoying it yourself or renting it out for income.  Use Real Estate Investments to meet your needs in life and you’ll be glad you did because the returns over time are better than bank interest rates!  Home-ownership is indeed a rewarding investment – in more ways than one.

Cayman … a place for everyone!

General Real Estate Tips

Real Estate … WHY Cayman?

Savvy Home-Owner Tips and Advice

The Cayman Islands … Rediscovery Paradise

Cayman’s Waterfront Homes … Highlighting Luxurious Living and Barefoot Elegance!

Love Your Home, Pad Your Bank Account!

Cayman becomes a buyers’ market