To Buy or Not to Buy (I)

On account of the extremely low mortgage rates and the depressed house prices, I think maybe now is the opportune time to buy our own home. Historically, equity in our home is always a reliable asset that helps us finance our well-deserved retirement. Even though many of us are facing the dismal prospect of losing our jobs, we and our family still need a place to live. We all know a home is one of the four basic needs in life. Owning our own home not only provides us with a stable living environment, it also forces us to save painlessly through the periodic mortgage payments.

However, if I were in the position to buy a new home, location and size will always be my prime concerns.

Instead of a “nice” neighborhood, I would definitely choose a home that is located close to where I work and is near public transit and shopping area. I would also like to live close by my relatives and friends. We have all heard it takes a village to raise a child. Relatives and friends living nearby are extra lifelines when we are in need.

My new home should require the least day-to-day maintenance. With an average size of a typical family at about three persons, there is no reason why we would need a home with four to five bedrooms. Whenever I saw many palatial homes with cathedral ceilings on televised home shows, I always wondered how much would it cost to warm up all these empty spaces? I also speculated on how long would it take to refurbish these towering walls?

Furthermore, today reliable tradesmen are like needles in a haystack. We should consider ourselves lucky if we ever find one.

To me a smaller castle translates to a simpler life. It also means a smaller mortgage payment, lower property tax and maintenance cost. By carrying a more manageable financial burden, we will be less likely worried too much on our obligations to the bank when the time is bad. - Ayee

Knowledge Is the power that leads to everything.

Last Sunday, I watched on television many professional woman golfers competing on a beautiful golf course near Montreal, Canada. Because of its generous purse, Canadian National Women’s Open is considered a major tournament in the ladies’ golfing circuit. Besides other mementos, this year’s winner also won a hefty cash prize of $337,500.

But that Sunday was definitely not a good day go golfing. Thanks to Irene, the hurricane, all players not only had to battle against each others on a tough course. They also had to face the inclement weather for the entire 18-hole round. Even though the weather could be friendlier, the defending champion from Hawaii, Michelle Wei, did put on a good effort against this year’s winner, another American, Brittany Lucicome, by just one stroke.

About the last year’s champion, she is known for competing in professional man’s tournaments when she was just a teenager. Now, at 21, she seems to becoming a mature young lady. Recently, she was being criticized for not playing the professional tour full time. Instead of encouraging the golfing protege finish her schooling at Stanford, some of her peers on the tour think becoming a pro golfer is more important than getting a university degree. - Ayee