Saving Money How To Make A Budget For Your New House?

[Good-Guy]

Making a great budget might not be an easy job, especially when you are in financial debts or financial crisis. Managing a house with a fixed budget could be challenging, but it is still possible when you plan things in a great way. Things in life can change and your budgeting plans might also change when you change the place where you live. We have recently moved out of our house and it seems like we need to change our budget also. When you move out of your house, there are many factors which you need to consider. For example, if you sell your house, you might need to buy a better house where you could rent out space.

This is something that we considered and this is why we are able to make a bigger budget for our house. Unfortunately, this is not something many people consider. However, just because you buy a house where you could rent out space, this does not necessarily mean that you could spend money extravagantly. You would still need to make a budget due to inflation and extra expenditure required when you renovate your new house. So, what are some great ways to make a good budget for your new house? Do you have any ideas?

 

[Deleted member 28127]

Most people go to the easiest solution that is to take a bank loan to buy a new house or even build it and stay paying this is because daily families expenses prevent married people from saving. But this is not an ideal solution all the time.

 

[funmi]

Well, I know of some people who built their houses using money from their savings over the Years. While some people actually collects money from their cooperatives in order to build their houses. So, those are the Major ways I know people use to get money to build their houses.

 

[Alexandoy]

To be honest, I really do not remember how we were able to endure the financial difficulty when we bought a house. We were renting a house for 8,000 pesos a month (that's around $160) and when we got the mortgage the monthly installment was 13,000 which is a little less than double our rental expense. It was not easy to stretch the funds especially that the house we bought was 20 years old so there were a lot of needed repairs. Fortunately my wife has the wisdom to cut down on other expenses. For several years we had no luxury although there was no change in our food. Electricity is used to the minimum and travel is also minimized as much as we can. I am glad that the mortgage is fully paid now and the only expense on the house is the annual realty tax.

 

[eldavis]

I think one of the best ways to go about this would be to know and understand your needs and wants. Most people tend to mix up their needs and wants, whole some assume there is no difference. In reality there is a very big difference between needs and wants. Every human has wants, your wants are things that you might want to have at the moment but in reality you can actually do without them, you just buy them cause probably they they are beautiful or you just want to have it, it's not important to have them then. Your needs on the hand are things that are very important to you are the moment, these are things you actually have use of and can't do without.