Category Archives: Buying Your First Home

How to Buy a Home in a Seller’s Market

How to Buy a Home in a Seller’s Market

I’ve hinted at it in some recent posts, but the time has finally come to share the big news with all of you. What’s the big news? We’re buying a home! To be more specific, we’re buying a condo.Continue Reading

When You’re REALLY Ready to Buy Your First Home

When You’re REALLY Ready to Buy Your First Home

My wife and I have been talking about buying our first home for years now; heck, I’ve been writing about it for years. I know it’s not always the best decision when it comes to running the numbers, but for us, it is. While we have been aggressively saving our down payment for our first home, a few recent events have led me to think about when it’s appropriate to buy your first home. Here’s what I’ve decided.Continue Reading

5 Potential Building Issues You Need to Avoid

5 Potential Building Issues You Need to Avoid

Are you about to build a new home, and believe you’ve covered everything during your research? Think again! It’s more than likely that with the vast number of items on your list to consider, there are some potential issues you’ve forgotten to investigate.Continue Reading

The Most Accurate Way to Calculate How Much House You Can Afford

The Most Accurate Way to Calculate How Much House You Can Afford

If you are buying your first home, you have to be careful about buying too big of a house. Buying too much house is not only common these days, but also disastrous for your finances. Financial experts know and understand this reality – and in an effort to help, they’ve come up with simple calculations to determine how much house you can afford. Let’s take a look at these calculations, before I offer my own solution.Continue Reading

When Are You Financially Ready to Buy a Home?

When Are You Financially Ready to Buy a Home?

A part of getting ready for the big move has been creating lists of things to do before, during, and after the move. I’m the type of person who prepares for something months in advance because I know these type of moments are stressful. The more I can do now to prepare, the easier it will go. One of the things that I have been considering is buying our first home. Not a single family home, but a condo. Not only would this mean less hands-on maintenance, but it would also be more affordable. While my wife and I are doing okay financially, we’re far from great and I can’t help but question if we are financially ready to be home owners.Continue Reading

When are you ready to buy a house?

When are you ready to buy a house?

It’s the time of year where many of the 20-somethings who fall into the renting population of my pool of friends start talking about buying a house. The justifications are usually the same, regardless of the person I talk to. They want to build up equity. They want to get mortgages with low rates. They want to buy while prices are low.Continue Reading

Fannie and Freddie’s New Deed-In-Lieu of Foreclosure Program: Is it a good idea?

Fannie and Freddie’s New Deed-In-Lieu of Foreclosure Program: Is it a good idea?

Starting March 1st, Fannie Mae and Freddie Mac are implementing new rules for a Deed-in-Lieu of Foreclosure program. Bloomberg relayed some of the details a few days ago. While the program seems promising for those currently trapped in their homes, there are a few things you want to consider before signing on to the program.Continue Reading

The Hidden Costs of Renting

The Hidden Costs of Renting

There is no such thing as a hidden costs to homeownership. When you own a home, no repair, maintenance nor service is charged to you unless you give someone permission. Your name goes on the bill, the bill gets mailed to your house and then you pay the bill out of your bank account. Renting, on the other hand, comes with seemingly endless hidden costs. When charges mount, no bill is presented – and no permission is asked. You pay your rent and rent increases blindly, without reason or explanation.Continue Reading

Buying Your First Home: Is Hatred for Renting a Good Reason to Buy?

Buying Your First Home: Is Hatred for Renting a Good Reason to Buy?

As many of you know, my wife and I planning to buy our first home in about two years. We are already saving up a down payment and figuring out how much of a house we can afford. You know, all the things that young adults SHOULD do when buying their first home. Who wouldn’t want to be prepared? Yet, as I make the preparations and plans, I can’t help but wonder if my hatred for renting is causing me to jump into home ownership for all the wrong reasons.Continue Reading