Buying a house is a big commitment. We have to certainly plan a lot of things personally in the financial aspect for accomplishing such a humungous commitment. Unlike a rich person who can willingly purchase a house at any place of his liking as an investment, it is extremely different for a middle-class man or a woman who decides to take that step. For starters, a common man in this per se is not going to purchase a house from his savings nor from the hereditary money he possesses.
Yes, a common man is not going to purchase a house from his savings. Let me support my argument with a simple statement that is clearly practical. He will never do so because it will become too late for him to purchase a house with his own savings. Even if one decides so, he is only going to put the pressure on his offsprings to finish of his owing. It is very important for a middle-class man to strike a balance as to when to make that big decision to build or purchase a house.
If he decides to do that a little late in his life, he might most probably get stuck with multiple responsibilities in his life like paying back his debts, educating his kids and paying his daily mortgages and many other commitments. Similarly, if he opts to purchase or build a house too early before his marriage, he might well end up his most important and beautiful part of his life paying back his loans. Like this one, there are several problems associated with buying a house before marriage however it is completely dependent on an individual as to when he chooses to take the largest leap in his life.…