After buying your own house, your
financial responsibility will have grown. You have to make your mortgage
payments either monthly, quarterly, bi-weekly or whatever you agreed upon with
the lender. Late payments can mean very bad news for you as you will incur
penalties and late fees and you could even lose your home in Merrifield
Estate Mickleham through the foreclosure process. A good rule is to always
keep three months worth of mortgage payments savings in case of emergency.
Save up
on maintenance
Even if your home is brand new,
it’s not immune to cracks, damages, vermin, or the elements. Sooner or later,
your house will sustain a damage that has to be repaired. You always want to money
in the kitty for just that purpose. There are other associated costs as well
such as gardening and small ongoing improvements.
Live within your means
A
house in mernda
villages estate mernda is really an investment. In order to keep it and
making sure you don’t dip into your mortgage payments, you really have to live
within your means. The family should talk and make sure everybody is on board.
If necessary, bring in a money manager to help the family budget.
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