It would be a real bargain to buy real estate at reasonable rates, which in itself might not be necessarily reasonable, owing to current market rates on the open market. The closest attempt at being reasonable would be anywhere in the range of one’s future savings being realized in the foreseeable future, or at least within one’s lifetime. In simple ideology, it is worth saying that a Native American might not see the possibility of acquiring the Empire State Building in this lifetime, let alone the foreseeable future.
Anything within one’s belief bracket might be deemed reasonable, and this can well be illustrated by one’s self-talk, commonly referred to as affirmations. With a rock-solid saving scheme, it would be very probable for us to buy the real estate that we want, and later try to work out the payment terms with our banks or financial institutions. This always goes with the possibility of paying the required amount when we still have the strength and health to enjoy what the property has to offer.
If we were to drop dead in the course of paying our mortgage on a piece of real estate for instance, it would then be concluded that the reasonableness of the rate being paid out would be in question, and that acquiring a piece of real estate, the rationality notwithstanding, should not be deemed a life-long project. The truth being told, anything higher than five years to repay such loans is usually not as reasonable as one might think, with the fluctuation in economic factors and the spiraling living standards, against a dwindling life expectancy and future college fees to be considered.
Another point to be considered here is the future lay of the real estate, and how it’s value will have increased or declined owing to the future trends and other market policies affecting its value at any given future time. With uncertainty blanketing any future prospects, perhaps time-travel would be a great idea, but not altogether impossible, given the modern science of deduction and the calculation of probabilities.
Most people consider that which they can afford as being “reasonable”, which in this context may be translated as “affordable” and so in real time and using real dollars, what may be considered reasonable for one may not be necessarily so for the other. This might leave the whole concept of reasonableness at a beggar’s point and with no true definition in the tangible sense.
Another key consideration in buying real estate at reasonable rates would be how well the property would withstand natural disasters as much as the frequency with which maintenance projects would be meted out by the prospective owner. It would be disastrous to base your desire to purchase real estate solely on emotive basis, like the fact that it reminds you of childhood memories, or a loved one, or sometimes purely out of superstition.
To conclude on whether you bought real estate reasonably, it would be courteous at the very least, to consult with your spouse on such issues. Their opinion may not be the ideal, but great ideas could pop out from the discussion.