Know your financial situation.
Every one may have experienced a financial nightmare for at least once in their life. I have also experiencen one few years before. That was a real financial crisis and I am not fully recovered from it still now. Just like that for many other guys like me, a new home was the villain for me too. At those times, I was quite happy with my financial situation .Without thinking twice I jumped into the deal for buying a new home. For the first few months everything was quite fine. Then I slowly started feeling the troubles associated with the home purchase that I have done without fully understanding my financial situation. A major part of my income went to the loan installments and there was a little money left for me to pay other bills. Since I had a decent and stable income, I managed to escape from the situation somehow. But the scars of that financial tragedy stills persists in me .What I am trying to say is that, always be very careful and fully aware of your financial situation before jumping in to big deals such as home, property, car etc.
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