Twenty-nine dollars. That was it – $29. That was all I had left in my checking account and I was proud. It was when I first got married. We had made it through the month and after everything was paid, we had $29 left. We had paid the mortgage, set aside money for insurance, bought groceries, paid our utilities, had a little money for spending and even saved towards retirement (thanks Dad for teaching me to save early). And we had money left over. It was a good feeling.
To stay in the black when it comes to your money takes a little work. That elbow grease is certainly worthwhile. I look back at the days when I felt rich when I had $29 and wish I spent a little more time these days budgeting and watching every penny so that I could save more. Seems like money slips through your fingers like water.
I was cruising around Facebook earlier and a Realtor® friend of mine posted that she nearly had a heart attack when driving up to a home inspection today. Her buyer had pulled up in a brand new car (I know she was thinking – clearly he hasn’t read about the 10 Ways to Lose Your Home). She, and the buyer, will live to see another day as the new car was the buyer’s brother-in-law’s car.
In the last two posts we have learned that if you want to close on your home it is best to stay in your current job, not let your payments fall behind, and not to buy any new cars or furniture. By now, you are probably catching on that it is best not to change anything in regards to your financial situation when buying a home. Just three more items to discuss before we move on to other topics.
Don’t tell me what to do. Tell me WHY I shouldn’t do it so I can learn.
Last post we learned about why quitting your job, buying a new car or using your credit cards can cause you to lose your dream home (if you missed that post, look here). Now let’s tackle a few more things you don’t want to do if you’re buying a home. Well you shouldn’t do if you actually want to close on that house you have under contract.
I didn’t come up with the above “10 Commandments of Buying a Home”, but after over 20 years in mortgage lending I agree with these things completely. If you break one of these 10 commandments it is extremely likely that you could lose your dream home. For me, I don’t settle for just knowing what I should or should not do….I want to know WHY. I bet you feel the same way. You want to know why you shouldn’t do the above things.
Are you thinking of moving or in the process of moving? Does it give you a headache just thinking about the disruption in your life and all of the things that you have to do? If so, keep reading for some apps (these are apps for your smartphone not appetizers, but those would be yummy too) that will help make the move less disruptive and get you settled into your new home and ready to rock the world.