Saturday, January 5, 2008

Home Ownership Planning

It's been said that a man's home is his castle. That is probably true for most of us, but with one proviso - that the home is our own and not a rented abode.

Because of that, most of us dream of owning the roof over our heads. That ambition is most natural. In the middle of this century, psychologist Abraham Maslow discovered a fundamental truth about human beings - is that we unconsciously work toward the step-by-step fulfillment of 5 distinct levels of need.

One facet of that remarkable discovery is that because shelter is a base level, or level 1, need, those struggling merely to make ends meet will be satisfied with even a rented shack. But as expectations rise and level 4's dictates of self-esteem and prestige come to the fore, the desire to own a beautiful home to call your own is completely natural.

However, owning a dream home requires a lot of thought when financing is concerned. Financing can be obtained from various sources, such as bank loans and EPF withdrawals. The question is, can you afford the house of your dreams? .

The objective of Home Ownership Planning is to first analyse the cost of your dream home, plus the necessary renovation costs and then to project the estimated future cost of home.