Before buying a home, it is important to first understand your financial situation. Many first time property buyers take on loans and property debts without fully understanding their financial capacity and end up paying for it in the long run. Understanding the range of bank loans and property that one is eligible for is the first step in financial planning. Even landlords need to constantly update themselves on the property market so that they can grasp onto timely opportunities to buy and sell their property. This form of financial planning can assist landlords in maximising their return on investment or at the very least, minimise losses. Finally, before purchasing a home or real estate asset, it is important to know the market rates and bank loans that one’s current average salary entitles you to. This form of personal financial planning is important as one has to judge whether they can afford to hold onto their job of if they will expect salary fluctuations in the future. Ohmyhome’s real estate agents help our customers untangle and unravel the mystery of financial planning. Call our property agents today for an evaluation.
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