Buying House

um... no?

This isn't really an engineering topic though it has a bearing on the way that businesses operate their assets.

Culture varies across the globe. In the UK, many people put down a deposit, a percentage of the price of the house, and then borrow the remainder of the price using the value of the house as security for the loan, the value of the loan being determined by current income and the ability to repay over, say, 25 years. The arrangement is called a mortgage.

The arrangement can be used in business, too. A commercial mortgage can be set up to pay for fixed assets that the business needs to use to produce income, part of the income of the business being used to pay back the loan, though leasing is a common method of finance too. The difference between mortgage and leasing is that, at the end of the mortgage period, the business owns the asset whereas at the end of the lease, it doesn't. So it is best to use a mortgage for things that increase in value over time and a lease for things that decrease in value over time, in general terms.

For further information and to discuss possibilities, it is best to talk to a Financial Adviser locally.

I suggest therapy.

I just buy everythin' I wont all the time and then let the collectors contact me to negotiate a settlement.

It usually work out fine. I filed three time for bankruptcy, but the govment keep giving me 'one more chance" and stuff.

The medicare for my corns and sciatica help out, but the food stamps keeps the hungry-mans coming and the electric share keeps them nice and cold.

If it weren't for my cherch I wouldn't have clean clothes, what with the laundromat that won't let me in there anymore. My landlords dont want me washing in the creeks or letting the warsh warter out the back door no more neither.

Thank God for soshul scurety.

You can generally do either one or the other. If you don't save any money over a period of time you cannot afford a house, so buying everything you want will ultimately mean you can never afford to buy a house..

On the other hand the pursuit of acquiring commercial objects won't make you happy in the end.

Have you considered a pet?

you are right, but if i just save money to buy house, when i save enough money, i will not be young, at that time, something can not be bought by money. on the other hand, if i buy something i want everyday, i can not save enought money to buy house, so i am confused.

You are not confused, you are just not making enough money.

yeah, you are right, no enough money is the main factor. i mean did i need to live frugally to save money to buy house?

frugally, no...smart, yes. I buy almost everything used when I can for 1/10th it's new cost. Fun to look for things people have no use for any longer and are ready to almost give away.

I have 5 houses which I bought because someone no longer wanted to take care of them and I fixed the up and made them livable again. Houses are hard work coming and going.

Wax on...Wax off.

When I emigrated to Australia I had $50 in the bank, two children and a Wife. Yes it was a battle, I put a deposit on a block of land, which increased with market value, and when that was paid off I used it as a deposit to buy a house, a wooden box for a table and wire chairs. Did not look back after that. Think positive, you will get there.

Regards JD.