ABSTRACT
Home ownership may be right for some, but not for others. Some people do not want to be tied to a mortgage and carry big financial commitments. However, homeownership can bestow financial rewards and personal satisfaction in three ways: Higher disposable income, Enjoyment and Wealth. The keys to successful home ownership lie in choosing the right property and being able to pay monthly mortgage payments over the agreed term. Careful choice of property ensures that its value can always be maintained, whatever the market conditions, and avoids negative equity. Besides negative equity, the other worry is repossession, as a result of the inability to pay the mortgage. The key reason why many people cannot pay their mortgage is due to a loss of income. Moreover, the people will have the confidence that the people can always meet their financial and mortgage commitments.
