One of the major setbacks that prevents most people from acquiring property or land is savings.
However before going any further, there are several things we need to address before buying a piece of land or property.
- A regular source of income or cash flow: Having a regular source of income solves a major problem, because it allows you to put away a small amount of your cheque as savings.
- Considering the cost of buying land around you: In order to work towards a plan of buying a land or property you need to consider the cost of land and property around you, including the cost of acquiring utilities such as water, electricity etc. for the property.
- Considering a source of acquiring Loan: you would also need to approach your banker or bank in order to find out various available options for loans and the payback method.
Having looked through and overcome this various setbacks on saving towards acquiring a land, here are some tips that can help you buy that property of your dreams.
Budget Decision: Decide how much you can afford to save up within a certain period, this is a very important decision to make and you have to be realistic about your budget.
Deciding The Size of Land: Decide on the size of land you want to purchase, whether a plot or more. This helps you make a more accurate decision on how much you are willing to spend on buying the land.
Deciding The Purpose of Land: Deciding on what you want to use the land for helps you decide on the size of land and how much you should budget for the land.
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