Leading Habits of Successful Home Owners

Welcome to 2019! Resolving to eat more sukuma wiki and work out are fine resolutions. But if this is the year you vow to buy a home, we’d love to suggest a few new leading habits of Successful Home Owners.

Daily Practice: Ditch a luxury or two

A lot of us Kenyan’s are surviving on the phrase ‘bora uhai’ to either escape daily responsibilities or to further advance the hashtag, YOLO (You Only Live Once). These may be cool for a minute, but such a lifestyle is not advisable for anyone with a goal that revolves around home or property ownership.

The kawaida weekend parties, expensive lunch and dinners going down with exquisite wine don’t go well with home ownership. These are expenses that deter you from achieving your goals.

A habit all successful homeowners have is great saving. This does not mean a boring lifestyle. Granted, you can have the occasional #blessed moments but figure out a way to cut down on spending, for example, making your own lunch instead of buying. This is a major leading habit of Successful Home Owners

Weekly Practice: Make deposits into a ‘home savings’ account

Cutting down on some habits surely leads to massive savings. It is important to often keep them safe and locked in a bank account until when you are ready to make a down payment.

“I loved watching MTV Crib growing up, and I knew I would love to own my own home someday. After campus, I got a job and I immediately started saving for my dream home,” says Elaine Achieng.

It wasn’t much, she says, but it went a long way in securing a mortgage for the beautiful maisonette she now owns in Kitengela. This stands out as a
leading habit of Successful Home Owners .

Weekly Practice: Start attending open houses

Attending open houses serves as a great motivation for most successful home buyers. It has been proven that the tangibility of what you want to achieve acts as a great source of inspiration, and it will also motivate you to save. This is also key as the cradle for information. It will educate you on the market and tell you if that is the best time to buy. A lot of your questions will be answered leading to you making better more informed choices. This leading habit of Successful Home Owners is facilitated by further booking a private viewing of a potential home you spotted.

Monthly: Do a trial run at home ownership to be a successful home owner

Besides the 20% downpayment, you must be able to pay the mortgage and home maintenance costs. These include fixing the electricals, repairing the drainage and even taking care of the home garden. This habit will enable you to test whether you are comfortable owning a home. It will also influence your commitment and determination to buying your house.

Monthly: Pay all bills on time

To qualify for a mortgage at a reasonable interest rate, you need to be in the habit of paying every single bill on time.

Great Organization Skills

Between vendors, brokers, solicitors, surveyors and anyone else who might be involved in your home-buying odyssey, one thing is for sure: there’s going to be a lot of paperwork.

It’s extremely important that you keep on top of everything, because the last thing you need when you’re on the verge of closing a deal is finding out that you’ve forgotten some key document. Invest in folders, paperclips and sticky labels – and make sure to use them!