In most cases, taking a mortgage appears to be the popular means for a medium-income earner to get their own home. But with the rippling and reeling that hit the mortgage market, about two years ago, the mortgage may not have anybody’s back after all. Meanwhile, everyone wants their own home; it’s one of the greatest fulfilments someone can ever have. However, it’s almost certain that not everyone will own their own house. But verily you can - as long as you earn some income.

You have this simple template to follow: Save up, get the house and maintain it. Getting the house is the second phase of a tripartite process. The first and the second phases are as important as this. Let’s dissect them.

  • Save up

A good saving culture is not always by earning power but by prudence. A major success index indication/indicator is saving habit pattern. A healthy saving habit is a sure prerequisite for success.

In the same way, you should be financially savvy with savings. 

The most important fact here is that no matter how little your earnings may be, they must always exceed your expenditure – spending shouldn’t be equal to earnings let alone be more than them.

  • Align yourself with reality

Satisfaction is a thing of the mind. And it is what really counts. By this I mean if your mind is aligned with the reality of your financial capacity and limitations, you’ll get a house that will satisfy your needs; that is your choice house. I know you don’t want to run into indebtedness that will eventually make whatever joy derived from buying a house meant to raise your social status short lived.

In other words, let your mind live with you at your current social status and when you eventually move up the social ladder, it goes with you. When it goes up the ladder ahead of your time, it creates chaos and can truncate whatever chance you’ve got.

  • Choose to buy or build

There is always the debate over whether buying a house is better than building one. There is no one-size-fits-all answer to this debate. Factors such as time, taste, funds, location, etc., will influence what is done at any given time. And if you make the wrong decisions at this point, you may end up getting a bad deal that you’ll live to regret. You definitely don’t want that.

So, do what fits your current situation.

That you’ve got the money to get your own home is not a sure bet that you’ll certainly get it! You’ve got to get the approach right.

  • Maintain dedicatedly

Remember the ‘live happily ever after’ ending in children’s stories? Well, it can actually be real. Having got your own home, you have the capacity to make it remain as something that will always make you happy.  The key is good maintenance.

A good property maintenance company is required here. One that is capable of giving you, quoting Mr Roof, “a lifetime warranty and an amazing customer service”. Anything short of this is a bad deal. 

And don’t forget, you’ve got to get both quality and quantity.

You need to continuously maintain it to keep it in good shape and to save costs. In most cases, there are many things you can fix on your own but there are certainly others you’ll need to contract out.