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Money Matters

8 Tips to Get Started in Investing in Your Own Property

Contributed by Mandy Yanga

Who doesn’t want to have their own property, right?

Admit it—you’ve always dreamt of investing in a property. You’ve probably even exhausted the books, magazines, and blogs about it—that is, about success stories, about how to do it properly, about tips, and so on. More than that, you’re also hunting for actual properties, such as poring over the listing of the townhouse for sale in San Juan, among others.

But if this is your first time investing in your own property, then it’s easy to get overwhelmed and to be confounded by the whole process, which is why people sometimes quit before even getting started.

If that’s the case, then you’ve come at the right place. This article will explore the tips on how to get started in investing in your own property.

1. Know your budget

This is a very important step to get started. It’s as easy as listing down all your assets, your income, and taking into account your expenditures. Doing this will give you an idea on how much available money you have for investing.

Plus, don’t forget that you can (and you will need to) apply for loans. If you’re employed and have a stable income, then it shouldn’t be that difficult for you to secure a loan.

2. Acquire a pre-approval

Contact your bank regarding a pre-approval for your loan. This will give you an idea on how much you can actually borrow before you begin looking for prospective properties.

In fact, this stage can also be considered an extension of knowing your budget.

3. Keep in mind the ongoing costs

Ensure that you also allot sufficient budget for ongoing expenses, such as insurance, general repairs, and so on.

And once you finally have a property, do your best to do routine checks on it so that you can avoid expensive maintenance issues in the future.

4. Start budgeting

Now that you already know the basic financial matters that you need to take into account, it’s time to dive into this task—it might not sound very alluring, but this is crucial in guaranteeing that your income and expenses are balanced.

5. Identify your goals

What exactly do you want to achieve? What are you looking for?

To make your goals more specific, you can set a deadline for each of them as well. This can also serve as your guideline.

6. Opt for a growth area

This is especially important if you consider on having your property rented. It’s recommended that you choose an area where there’s a demand for rentals, such as being in close proximity to schools and other establishments. The townhouse for Sale in San Juan is also an excellent choice.

7. Be smart

In order for you to make smart decisions, it’s important that you arm yourself with the necessary knowledge. Read a lot about the market and about investing. This will also help you in avoiding property peddlers.

8. Always stick to your goals

It’s advisable to always, always be cognizant of your goals—about what you intend to achieve, and when you should have them accomplished, and so on.

Key Takeaway

Everyone wants to have their own property, whether it’s for residential or business purposes.

Before you visit that townhouse for sale in San Juan, however, there are certain things that you need to take into consideration to make your investment more seamless.

Personal

3 New Things I’m Doing This Year

It’s so hot! Just a week ago, there wasn’t a single day with no rain. Right now, it’s too hot to function. Why?!

But rain or shine, we will push to blog hahaha so I’m writing right now in our hot living room. Anyway, I digress. The year is still young and this time is the best time to reflect, plan, and introspect. During my period of planning and introspection (which lasted for about a couple of hours lol), I realised that there are three exciting new things that I’m doing this year, and I would like to share them with you!

1. The 52-Week Challenge

Personal planner savings tracker insert

Did backbreaking work for this – everything is handwritten! I’m proud of it though.

I first heard of the 52-week challenge in 2015. Although I found it interesting, and although I was always planning to join, I never had the chance to do it. I always end up doing another thing or not saving money at all (which was the case last year).

Because I saved virtually nothing last year, I resolved to join this challenge and be serious about it. Right now, it’s only the third week and I’ve been using this cute container as my temporary coin bank, but it already feels good!

2. The Happiness Box

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Personal

4 Goals I Must Accomplish Before the Year Ends

It’s weird.

knew it was just yesterday when I wrote about my word for the year and the things I want to accomplish. Well, at least it felt like yesterday. And now it’s already September! I haven’t lost a single pound yet! I haven’t added anything substantial to my personal savings! Unfair!

Can one consider better skin to be an accomplishment? What about being to watch 5 Korean dramas in the span of 2 months? No? Okay, homeschooling nalang. I’m proud to say that I am now the mother of a reading and writing 4-year old. A bit late compared to others, a bit early compared to some, but hey we’re not focused on comparing, are we!

I know I didn’t write down my resolutions at the beginning of the year, and I know it’s nowhere near New Year now (unless we’re talking about New Year – 2017), but I believe there’s still time to accomplish these goals:

1. Lose weight

Weight loss is a long-term struggle for me. Sometimes I diet and work out like a mad man, and on some days, all I want to do is stay in bed and binge on junk food. It takes a toll on my weight (and health) so now I’m determined to commit to a realistic but steady fitness routine. Help?

Fatso. Huhuhuhu

Fatso. Huhuhuhu

2. Save money

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