A recent survey made on the Laguna Beach indicated that more would rather own a house (even through mortgage) instead of renting out. The common reason for this is that they want to use what they own as a long-term investment, which would greatly benefit them in the future. This is not surprising. Statistics show that 80 percent of those who live around Laguna Beach have taken a mortgage for their house, while the rest (20%) are living in rental houses. It's interesting to note that those who belong to the 20 % category don't plan to live in Laguna Beach for the rest of their lives

You may be one of those people planning to invest on a house right now, and you feel that you belong to the eighty percent of people mentioned in the survey earlier. Before you decide to get out and buy one, make sure you know what your are getting yourself into. Here are some tips to help you stay on the right track:

Check your credit history and earning potential.

Most realtors in California are cautious when it comes to credit card credibility. If you're sure that your credit score does not fall below average (620 score), then by all means, buy that house along the beach you've always wanted

Also, before you buy a house, ask yourself this one important, (and obvious) question: CAN you afford it? Look into your current monthly income, and see if you can still afford to buy that house after you factor in all your monthly -- or even yearly -- expenses. Professional realtors advise clients not to spend more than 28 % of their monthly income on one major purchase, like a house. Many people often overlook this factor, which consequently makes them unable to clear their mortgages on time. When this happens, they are forced to operate under a tight budget just to survive

Know how much you can afford, and do some shopping.

The economy is sadly getting worse in 2012 compared to previous years, so many realtors have gone to the extent of hiking the monthly mortgage fees. When you go house-shopping, always keep in mind what you are capable of spending. If you can, hire a realtor advisor to help you choose a house, because they have all the important information you need in buying a home

It's also good to trust your gut from time to time. When your financial advisor insists that you are capable of handling the mortgages, but deep down inside a little voice keeps on insisting you can't, then go with what feels right to you

Also, make sure to shop around for houses, because you never know when you might suddenly hit a jackpot and discover a house that offers a spectacular bargain. It also allows you to see the conditions of Laguna Beach first-hand, allowing you to assess if it's still lucrative to invest in a house on a certain neighborhood...or not

Befriend time.

Time doesn't wait for anyone -- including you. And when you're talking about house hunting, time becomes one of the most valuable assets you will have on your side. The moment you submit your mortgage application forms to a realtor, the clock starts ticking immediately. This means that you should use your valuable time to make sure that your credit is up to-date until the final repayment date, and that you pay everything on time. If you can, pay your whole mortgage at one go. Always remember that one false move here spells disaster all the way, and you might end up with what you started: NOTHING

Statistics from realtors in California and around Laguna Beach shows that more than 74 % of people are choosing to own a house rather than rent out. It's all a matter of preference, but in reality, it's much better to pay for mortgages so you can have your own house than pay rent every month.