Tag: Homeownership
Should You Take a Home Equity Loan? There Will Be a New Gold Rush
The new rush to gold will be home equity loans; mark my words. The average American homeowner is up to their eyeballs in debt, and the federal government has a solution. Instead of teaching people fiscal responsibility, the government wants to support the secondary market for home equity loans (or secondary mortgages). This means the…
The Pros & Cons of Homeownership 1: Wealth Creation
There has never been a more challenging time to purchase a home than in 2023. Interest rates are soaring, and home prices haven’t decreased to reduce the monthly payments. Therefore, first-time home buyers need more money for a down payment and higher incomes for bigger mortgage payments. The burning question is if buying and owning…
Welcome to the Housing Wars: May the Best Investor Win
Did you think your life would be easy? Did you think you would attend college or join the military and buy a house before age 30? Well, those days are over, maybe even forever. Homeownership is no longer a right but a privilege—only the privileged need apply. How did we reach the point where only…
The Road to Homeownership #3: Saving for the Down Payment
So you crunched the numbers and controlled your emotions; it’s now time to get your new house. But, there is still one major roadblock—the down payment. Welcome back to the Road to Homeownership series (Part #1, Part #2), where we move into the house of our dreams. What is a down payment? The bank will…
The Road to Homeownership #2: Reducing Emotions
Purchasing a home is one of the most emotional experiences of your life. The process will send you to the highs of the mountains and the lows of the valleys. I would never suggest removing emotions entirely from the process; however, reducing your feelings to make sound decisions throughout the journey is a great idea.…
The Road to Homeownership #1: Crunching the Numbers
Although homeownership may seem out of reach today, you’ll still need to know how to buy a home effectively. Yes, there is a right way and a wrong way to buy a home. I own three houses, and my track record is spotty. My first home was a financial disaster (score 20 of 100). My…
