Focus on your long term goal while setting realistic targets for the immediate future. Assess what you can handle for now and compromise on what you can give up to be able to start becoming financially independent.
Compromise - Needs and wants
You are set on having your own home, already imagining yourself coming home to it while your family awaits your return. It is really rewarding to have a home of your own. But, because of your desire to get what you want at once, you have the tendency to borrow more than what you can afford to pay. You end up being buried in debt and losing everything that you worked hard for. This is where compromise comes in. If you are really intent on having your own home, you need to sacrifice and compromise your wants with your needs. Do you really have to buy this when you can buy something cheaper instead? Do you need to live in the city instead of in the outskirts? Know what your priorities are and the possible changes that might occur that will have a great impact on your decisions, such as getting married or starting your own family. This will help you a great deal in deciding what you really want and working hard to achieve it.
Setting a budget
When you have finally made a decision on the type of home that you plan to buy, set your budget on how much you can actually and realistically afford to pay. The amount that the bank will probably lend you will be limited to your wages, assets and existing arrears. But do not let this be your basis for the type of property you want to get. You also have to take into consideration the hidden costs such as legal fees, furnishings, searches, reports, repairs, maintenance, taxes among others. You also do not know how long you will be staying in your job. If you are buying your very first house, it may not be what you really had in mind but it may serve as a stepping stone for you to get one better. Make sure that when the sale is closed, you will be able to support your family without having to go to the streets to beg. It may not be that beautiful but at least it is a roof over your head which you can always fix into looking very comfortable. At least, you will not get scared on how to pay for your property if you know that what you are paying is comfortable enough for you in the meantime.
Your preferred area
Check out the neighborhood where your property is located. Is it conducive to raising a family? There are people who prioritize the location of their house first before the house. Others decide on the house structure first without any regard to where it is located. But most people like to choose their houses in neighborhoods that are safe and with a sense of community. It should have some recreational facilities like libraries, shopping centers and movie houses. Although some houses may cost more to live in a good neighborhood, it is usually worth it instead of getting one in an oppressive area. It is also important to note the environment where the property is located to avoid depreciation of the property because of the prevalence of disorderly behavior and gang problems. The right home that you choose should not only be based on its price and value but on its safety and convenience for you and your family.