𝐁𝐮𝐲𝐢𝐧𝐠 𝐚 𝐡𝐨𝐦𝐞 𝐢𝐬 𝐚 𝐦𝐚𝐭𝐭𝐞𝐫 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐡𝐞𝐚𝐝, 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐡𝐞𝐚𝐫𝐭- 𝐞𝐬𝐩𝐞𝐜𝐢𝐚𝐥𝐥𝐲 𝐰𝐡𝐞𝐧 𝐲𝐨𝐮 𝐚𝐫𝐞 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐭𝐨 𝐨𝐰𝐧 𝐚 𝐡𝐨𝐥𝐢𝐝𝐚𝐲 𝐡𝐨𝐦𝐞.
Sure, a beachfront house or a home in the countryside sounds awesome, but only until you can finance it. So, the first question to ask yourself is ‘can you afford to finance the new property?’. “It should also be made in the knowledge that no investment is guaranteed to succeed”, David says.
Therefore, it is also important to take into account the costs of potential failure in order to have a better chance of success.
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