After the publication of my book, Murder Your Mortgage in 7 Years, some people commented, “congratulations on a great book Orall, but I can’t even buy a house, never mind pay it off in 7 Years!”
It’s the elephant in the room.
There are always stories on how this generation will never own their own home. Here’s my quick, no nonsense, common sense take on how I would do it.
3 steps.
1. Flexibility
Pick an affordable location that allows you to get to where you need to, in a reasonable amount of time. If you’re in a major city his might mean moving to the outskirts or outside. If your rent is high you should probably consider this also.
A quick search gave me these useful links:
2. Schemes
What help is out there? There are a number of government schemes as well as other ideas like buying with friends.
Some schemes:
3. Saving
More savings, more options. Zero savings, zero options. You’ll need to increase your income and/or reduce your expenses and yes, saving will take time. My book Murder Your Mortgage in 7 Years gives details about how I did this.
That’s my quick take. Questions?
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