Buying a house is often seen as one of the ultimate goals in life, no matter where you are in the world. The real estate market here in Bahrain is also quite active and as such, investing in a property is a safe and highly beneficial bet. Plus, it just feels great to be the owner of the place you live, rather than renting long term. And so, to those ends, getting your own house is a lucrative proposition but one that must be made at the right time. But, you may say, when is the right time?

Well, you needn’t fret, because that’s exactly what’s about to be laid out below, for the following signs will showcase just how ready you are to take the plunge:-

You have the money necessary for the down payment

Buying a home comes with plenty of expenses but the first one you’ll need to settle is the down payment. The sign here is simple, do you have enough money for the payment without causing any disturbance to your regular life, if so then that’s step one complete.

You got at least 6 months backup fund

Owning a home can often incur unexpected costs and who can ever predict what life might throw your way in the future. It’s always best to have a safety net to break your fall if the time ever comes when you get hit by unexpected payments.

You’re able to accurately predict your income for the next few years

One of the most important aspects of financial preparation that comes with homeownership is predicting how much money you can pull in for the next few years.
Of course, it would be difficult to obtain an exact figure, but understanding the general pattern of your income can play a significant role in the home-buying operation.

You are currently in a steady job

It can be difficult to be assured of this at times, but knowing that you have a safe and stable career is always helpful.
This will not only assist with your loans and mortgage approvals but also give you peace of mind when you agree to such a large financial investment as a home.

You’re able to afford repairs

Repairs are an inevitable part of owning a house, whether you want to live in it or purchase it as a property. The landlord is normally responsible for maintenance, however, now that you’re an owner, you will be responsible for all that stuff. Will you able to afford it? Have you given thought to a rough estimate of how much it would cost to make ongoing repairs? If you have, congratulations! You are on the right track!

akomakoo.com is the leading property search website for users in the Kingdom of Bahrain and the Eastern Province of Saudi Arabia. Launched in 2020, by Abdul Hamid Al Asfoor (Managing Director of Albayan Media Group), akomakoo.com has become the most exclusive and leading platform connecting buyers and sellers from Saudi Arabia to Bahrain and vice versa.

An exclusive and trusted community where underused goods are redistributed to fill a new need, and become wanted again, where non- product assets such as space, skills and money are exchanged and traded in new ways that don’t always require centralized institutions or ‘middlemen’.

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Shawn Zuzarte

Shawn holds a B.Tech Degree in Computer Science and is truly a fan of all things electronics, computers and cars. Has a great love for writing, especially when it comes to analyzing and breaking down films and video games.