The Importance of Smart Money Management | LOH #255

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If I have earned the money to buy a house and I have two options the first one is to buy a big beautiful house but one whose best years behind it and it needs a lot of repairs and remodeling and therefore it's low price. The second one is a small house but not as beautiful as the previous house and I don't have time or money in repair so it's price is much higher than the previous one. Then, I will choose to repair to my liking. I will go with the low price house.

Because I know the value of money, I have seen my parents struggling and if I don't have good money plan then it will all go in vain. If I am having my own house it's a big thing for me, it doesn't matter how it looks but the budget should be friendly. As a starter I will like to go for a cheap one because if I have enough money then I can change the house and move to a new one which is much more fancy. But if I don't have the ability then I should stick around with the one which is low price. Even if it takes lots of time I will invest my time for it because good things always takes time to come in our life. If I don't have any patient and being hasty is gonna take me nowhere.

If I am not good enough to manage money, after buying an expensive house I might end up on the street someday. So, it's really important to acknowledge how to use money properly. To me buying a house is a big thing, in Bangladesh only a few people has their own house and mostly people stay in an rented apartment.

I really have the desire to buy my own house and I have proper plannings for it, I just need some money and time. It's not my age yet but when I will start earning hopefully one day I will be able to get myself a beautiful house.

Buying a ready made house is also a good option but it's expensive. If it does not meet up with my criteria then what am I gonna do about it? I feel people should always priotrise money management and time by thinking about their future.

If you can handle what is going to come next then you can pick that option but I know my abilities so I won't choose something that I can't deal with later. I think if I had enough money and time I wouldn't have to think about these two options. I would have gone with something without thinking.

Living in my parents house currently which is also owned by my father's siblings and it's not a bad thing. But still having your own house is a different kind of feel. My parents are building their house at a different place which is at "Savar" and it's going to take 1 year to complete and it's under construction. But still I would want to build my own house someday.

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I like the phrase "good things always take time." I think it adds value to what we do ourselves and how well we manage the money for repairs. Hugs!
!LADY

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La verdad es que lo mejor es tener tú propia casa, y lo que dices es muy razonable, comprar la primera casa, ya que es de menor costo y poco a poco remodelarla a tu gusto. Que bueno que tus padres pronto tendrán su propia casa, allí tienes un ejemplo, la constancia te dará tus frutos, apenas empieces a producir tu propio dinero, debes reunir para cuando se presente la oportunidad poder adquirir una y no hacer como hemos hecho mucho, dejamos de dejar pasar muchas oportunidades, por no prepararnos. Dios te bendiga 🙏🏼

The truth is that the best thing is to have your own house, and what you say is very reasonable, buy the first house, since it is less expensive and little by little remodel it to your liking. How good that your parents will soon have their own house, there you have an example, perseverance will pay off, as soon as you start earning your own money, you must save up so that when the opportunity presents itself you can acquire one and not do as we have done many times, we stopped letting many opportunities pass us by, by not preparing ourselves. God bless you 🙏🏼

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It's wise to have a financial plan buying a home. While a new house would be under an implied or written warranty, an old one does not and I was prepared to establish an Emergency fund set aside to address them. I learn the skill to fix the small problems replacing broken light switches, breakers and sockets, replace a sink or washer in a faucet and mend a fence. The big problems I would have to hire a qualified Tradesman. There is a sense of pride and accomplishment in fixing things ourselves. The more you can do, the more your house becomes a home @muktakinahmed
!LADY

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Knowing what you want and considering your budget when getting it is smart. Choosing the cheaper but fixable house is a good option, especially when you can fix some of them yourself.

I wish you the best in your goal/dream of having your own house soon.

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