Purchasing a home is one of the most important spending decisions that people will make in their lifetime. While having a piece of property with your name on the title may be a cherished dream that you would like to achieve, it can also be an intimidating and uncertain financial move to make.

If you are trying to choose between buying your own home and continuing to pay a landlord, you can’t just compare the cost of renting with your expected mortgage payment. Let’s take a look at some of the various factors that you need to consider if you are thinking of taking this big step.

Amount available to invest

Acquiring a property in Jamaica can be a costly affair, so you need to be aware of the full amount of money you will need to spend before you can get your name on the title. Most people aim to secure the deposit of between 10 to 15 per cent, but there are other costs that will be incurred. Continue reading To Own, or Not To Own? →