Our colleague, Bob Crane, has shared the most sage advice on what it takes to buy a home today. In our age of instant gratification (Google and Wikipedia give us instant answers to questions, we read our emails on the fly on our smart phones) it's easy to get sucked into habits that give us immediate pleasure - but harm us in the long term.
Read Bob's post and give it a thought. Little changes can have big impacts.
Skip the Bagel, and You Can Own a Home
Every day I meet people who claim that they would like to own a home, yet think that they cannot afford it.
I wonder why they cannot afford a home, many of them have adequate income, certainly more than I had when I bought my first home, some of them make more than I make now and I have a pile of homes these days.
But then when you notice how these good folks spend their money it is apparent why they don't have any money left for the important things like savings or investing in a home.
They cant seem to give up the essentials, like alcohol, smokes, Starbucks, and of course a fancy bagel every morning.
What are some of the things that you could give up that may be preventing you from building wealth with real estate?
- An overpriced vehicle?
- Your morning latte?
- A trip to the bar or liquor store?
- The latest toy for your kids or yourself?
- Cable TV?
- Lunch at the restaurant instead of packing a sandwich?
- Other short term indulgences that are costing you future wealth?
Drive a cheap car, live a simple life and you can be the richest person in the neighborhood!
And when you do buy that first house, don't max out your finances, buy a simple home so that you will have money left over to invest in the house next door too.
Click on the infographic to stop and visit and learn from Dave Savage the Mortgage Coach!
Also, dont forget to go to our Facebook page and hit like for this article there, and maybe even post it to your Facebook page too!
Woodland Management Service
2933 Church St
Stevens Point, WI 54481