The American Dream is above all family-centered. Indeed, the idea of being successful in your professional life comes as a secondary purpose. The main reason most people choose to come to the US – and the reason they did many centuries ago – was to offer their family a stable and safe life.
Consequently, it makes sense that finding the perfect home accounts for a significant part of the American dream. Unfortunately, some homeowners wake up one day to discover that their dream property has turned into a home from hell. It generates high maintenance and running costs. It constantly reveals new issues you need to fix. It is located in an unpleasant community. Whatever the reason, you need to understand how to handle the throwbacks to protect your future.
Issue #1: You Can’t Pay for It Anymore
You fell in love with the cozy home with a large garden in a quiet suburb. But when your company was forced to cut down on staff, you were released from your functions. Since then, paying your mortgage has been challenging. You’ve accumulated debts and attracted the fury of many lenders as you borrowed money to try to pay back your debts. Right now, you are stuck in a position where you can’t make enough money to keep your family’s roof and recover from your debts at the same time. But before you file for bankruptcy, you might want to get in touch with professionals who can help you to figure out the best option for you and your family. You can even stop garnishment in the process and recover from your financial situation.
Issue #2: Unexpected Repairs and Maintenance
An old house has a lot of character – you can even find items owned by the previous owners in the attic or the basement. But, it also comes at a cost. It’s not uncommon for old properties to contain hazardous materials such as lead and asbestos, or even termite damages. Unfortunately, even with the most attentive audit, you can miss potential issues that are embedded deep inside the structure of the property. Consequently, you can spend all your weekends fixing problems in the home.
Issue #3: You’ve Got Neighbors from Hell
Whether they’re too loud or they let their dog defecate in your garden, bad neighbors can be a pain. They create unnecessary stress for you and your family by making the area unfriendly. At the best of times, they drain your energy. But their poor attitude can have more dramatic consequences, as a bad neighborhood has been known to lead to depression and even PTSD.
Defining Your Dream Home Criteria
Achieving financial freedom with your home also needs to link to your family safety and happiness. Therefore, when you’re in the process of choosing a property that suits you, you need to look further than just detached, terraced and apartment. You should survey the neighborhood to know of potential problem areas. Additionally, it can be helpful to consider the stability of both the property and your industry sector before making a decision.
There is no denying that as a homeowner you commit to a purchase that involves unknown factors. The key to keep your finances safe is to ensure that you never sign before doing the preliminary research in depth. Ultimately, your research should highlight potential risk elements, which you can then plan for.