NationNews
  • e-paper
    • e-paper
    • e-magazines
  • News
  • Regional
  • Elections
  • Sports
  • World
  • Entertainment
  • classifieds
  • Multimedia
    • Multimedia
    • Podcasts
  • all sections
    • Business
    • Life Style
    • Family Notices
    • Commentary
    • Ticketnation
    • RSS
    • e-publications
    • Politics
    • Contact US
    • Smart Homes
    • Workbook
    • Feature: Owen S Arthur
  • Print Subscription
    • e-paper
      • e-paper
      • e-magazines
    • News
    • Regional
    • Elections
    • Sports
    • World
    • Entertainment
    • classifieds
    • Multimedia
      • Multimedia
      • Podcasts
    • all sections
      • Business
      • Life Style
      • Family Notices
      • Commentary
      • Ticketnation
      • RSS
      • e-publications
      • Politics
      • Contact US
      • Smart Homes
      • Workbook
      • Feature: Owen S Arthur
    • Print Subscription
Build
Business
 on September 20, 2010

Build a home to suit your pocket

Article by rhondathompson 

PROSPECTIVE HOMEOWNERS have been encouraged to be more realistic in budgeting for their home ownership.
The advice came from Adrian Forde, architect with Archis Design Group, one of six panellists at the Real Estate Marketplace seminar hosted recently by FirstCaribbean International Bank.
“What people want versus what they can afford often has disparities. Therefore they need to be more realistic with what they can afford,” Forde noted.
This was echoed by another panellist, contractor Ellsworth Howell of Alshandre Architectural Drafting & Property Development Inc., who charged that Barbadians were trying to keep up with the Joneses.
Members of the audience were advised by attorney-at-law Kay Williams to begin their homeownership journey with a visit to their banker.
Various costs
“Find out how much you qualify for. Also understand that there are a number of associated costs attached to the transaction, including legal fees, bank fees, land tax, property insurance, and real estate commission if you source property through a real estate agent.”
Williams also advised prospective homeowners to take ownership of the mortgage process – a step that could take a considerable length of time.
“Keep calling, enquiring and sending emails. Don’t feel you’re bothering anyone, because you have to ensure that the process is moving along.”
Johnathan Johannes of FirstCaribbean noted that if prospective homeowners took the process seriously and approached it responsibly, they would have “an easy process from tenant to homeowner”.
He also reminded them that mortgage payments should not exceed 40 per cent of their monthly income. (PR)

Comments are closed.

Cartoon
Facebook
@ Follow me
Tweets
Site Index
  • Home
  • News
  • Business
  • Sports
  • Commentary
  • Entertainment
  • Lifestyle
  • Regional
  • World
  • E-Paper
  • Multimedia
  • Blogs
  • Home
  • News
  • Business
  • Sports
  • Commentary
  • Entertainment
  • Lifestyle
  • Regional
  • World
  • E-Paper
  • Multimedia
  • Blogs
Services
For information about this website or content published please contact the Webmaster or Online Editor, respectively. Regarding press releases please contact the News Room.
Subscribe
Subscribe to NationNews with our Webfeed. Follow us on Facebook and Twitter.
General Info
  • Home
  • News
  • Business
  • Sports
  • Commentary
  • Entertainment
  • Lifestyle
  • Regional
  • World
  • E-Paper
  • Multimedia
  • Blogs
  • Home
  • News
  • Business
  • Sports
  • Commentary
  • Entertainment
  • Lifestyle
  • Regional
  • World
  • E-Paper
  • Multimedia
  • Blogs
Legal
Copyright © 1997 - , Nation Publishing Co. Limited • P.O. Box 1203, Fontabelle, St. Michael, BB11000, Barbados, West Indies • All Rights Reserved No unauthorized use is permitted of content produced by NationNews.com, The Nation Newspaper or any other publication or media owned by Nation Publishing Co. Limited. Unauthorized use includes framing and direct posting of content on websites other than www.nationnews.com.