My dream was to one day be a first time home buyer. Once I bought my house I quickly realized that home ownership isn’t all it’s cracked up to be.
I didn’t grow up in a house, therefore I knew that apartment living was not for me. I didn’t like the nose over my head of people walking and I really didn’t enjoy the many mystery smells in the hallway daily. Bigger and better for my child…Right? Therefore, I decided that I wanted a house of my own.
Little did I know how much work it would take to maintain a house. (Maintenance, yard work, snow removal…etc.) It never stops! Well hindsight is 20/20. Before you think of owning a house, think about the reasons behind your purchase. I guess that’s true for anything you buy.
Location is very important
The house I bought is 45 minutes away from my house. My transportation cost sky rocked. But my cost of living decreased.
Remember the maintenance cost & other fees
I have a little semi-detached house and the maintenance costs are about $1000 in a good year to $5000 in a bad year. It’s not always easy to come up with all that money on a single income. This where having a budget and plan spending becomes very important.
Think about how much space you really need
It’s just my son and I, we only need 2 bedrooms. I have 3 bedrooms now as a result the extra one is storage. Maybe you can rent out the extra room or even God forbid buy a home with two bedrooms.
Do you really need a backyard?
My son plays all day at school and when he’s not doing homework, eating or playing Xbox, he’s sleeping. He doesn’t want to be in the back yard, he wants to go to the park to play with his friends. I’m no better last think I want to do after a long day’s work is yard work and I’m allergic to everything.
Yes, home ownership is great but just think about what you really need from your first home. It’s a big decision so take your time.
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