Home and/or land ownership requires dedication and commitment. Individually, each has its share of responsibilities. Combined, some of these responsibilities overlap, but many do not. Each owner’s situation has numerous independent and interdependent variables. It would be nearly impossible to list them all. But for people seriously thinking about embarking upon such endeavors, here’s a basic reality checklist:

*Good credit: get it and/or build it; repair bad credit
*Intent: goals for property use
*Location: should be appropriate and relative to goals
*Resources: assets inherent to owning a specific property
*Risk assessment: examines all facets of ownership which pose potential liabilities
*Risk management: consistent proactive identification, planning for, and execution of tasks and solutions of property ownership

Home and/or land ownership isn’t something to be done on a whim. Once ownership is secured the owner becomes its legal assign. Responsibility is far more than simply making sure the taxes and loans are paid on time. Owners become stewards of that which they legally control. Stewardship demands consistent responsible ethical action. 5 years ago

we bought a house! renting out the first floor to tenants! 6 years ago

not giving up on this goal, just setting it aside until i am older and have satisfied my wanderlust. i don’t feel like puting down roots at this stage. i want to teach esl abroad and see where that takes me…. 7 years ago

this is a goal for the distant future. currently, i just want to travel, not put down roots. as such i think i will remove it for the present. 7 years ago

I’ve dreamed of a house for years. An old place with character; land for gardening and space for kids; somewhere to settle down for a nice long time.

We’ve taken the first step very recently: moved into an apartment close to where my husband works so we can start saving money. I think we can save more than enough for a down payment in the next three years (ideally, I’d like to buy a place by the time I’m 30, but I’m not going to push it if it’s not the right time yet by then). I think if we set up a savings account for it and watch it grow it’ll motivate us even more. 8 years ago