Have you been watching CNN, World News, and listening to the radio? It can be depressing and overwhelming. Turn It off!
If we listen to them, the world is coming to an end and all homes are going to come crashing down! This is not the non-bias truth.
If you need a roof over you head and you can balance your families budget, you should own a home, but you must you understand the following statement! Not everyone should own a home and everyone should understand that more goes into owning a home than just paying a mortgage!
Owning a home IS different than renting.
You can create equity and be proud of something when you own a home. You can paint your walls what ever color you want and you can hang pictures where ever you want!
Remember, if someone has told you that you can OWN for the SAME price that you are renting, they are not giving you the entire truth. Your monthly note may be the same as your rent, but that may vary and they are not explaining everything that goes into owning a home. If you have never owned a home, you have to be prepared for the expenses.
Items in a home need to be repaired/replaced over time. This will cost money and if you have not been prepared for this, it can come as a shock. I know many reading this are think Duh, but many ,many people forget this and are not told this by anyone. It can end up costing an owner their home. Homes can quickly become Bills and not a Home.
YOU ALWAYS WANT YOUR HOME TO BE A HOME AND NOT JUST A MONTHLY BILL!
If you are buying a home you should start putting money into a savings account. This is future reserves,not to be used to buy the home. Start small 50 dollars a pay check. If you can do more then do more. It will help in the long run. This will be the savings account used in case something breaks during ownership. It may not be enough to pay for the repair entirely,but it will help.
Not only will things need to be repaired/replaced but taxes and ,as most coastal residents know, insurance can go up.
You could start off with a note that is 1000.00 per month and then after the first year insurance doubles. This will add to your monthly note. Having money in savings can allow you pay this in advance with out increasing your note, or if you can not do it in advance,then you will be use to putting money in savings and you can reduce the amount put into savings, helping to balance out the increase in the monthly note.
If we listen to them, the world is coming to an end and all homes are going to come crashing down! This is not the non-bias truth.
If you need a roof over you head and you can balance your families budget, you should own a home, but you must you understand the following statement! Not everyone should own a home and everyone should understand that more goes into owning a home than just paying a mortgage!
Owning a home IS different than renting.
You can create equity and be proud of something when you own a home. You can paint your walls what ever color you want and you can hang pictures where ever you want!
Remember, if someone has told you that you can OWN for the SAME price that you are renting, they are not giving you the entire truth. Your monthly note may be the same as your rent, but that may vary and they are not explaining everything that goes into owning a home. If you have never owned a home, you have to be prepared for the expenses.
Items in a home need to be repaired/replaced over time. This will cost money and if you have not been prepared for this, it can come as a shock. I know many reading this are think Duh, but many ,many people forget this and are not told this by anyone. It can end up costing an owner their home. Homes can quickly become Bills and not a Home.
YOU ALWAYS WANT YOUR HOME TO BE A HOME AND NOT JUST A MONTHLY BILL!
If you are buying a home you should start putting money into a savings account. This is future reserves,not to be used to buy the home. Start small 50 dollars a pay check. If you can do more then do more. It will help in the long run. This will be the savings account used in case something breaks during ownership. It may not be enough to pay for the repair entirely,but it will help.
Not only will things need to be repaired/replaced but taxes and ,as most coastal residents know, insurance can go up.
You could start off with a note that is 1000.00 per month and then after the first year insurance doubles. This will add to your monthly note. Having money in savings can allow you pay this in advance with out increasing your note, or if you can not do it in advance,then you will be use to putting money in savings and you can reduce the amount put into savings, helping to balance out the increase in the monthly note.
Always remember to ask as many questions as possible and if after you buy a home if you have questions call your agent that sold you the home or call your lender. They should always be willing to help get you the right answers.
Kristy
No comments:
Post a Comment