Skip the Bagel, and You Can Own a Home

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?


Skip the bagel, Dave Savage


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!



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row of trees

Bob Crane

 Woodland Management Service


 2933 Church St

 Stevens Point, WI 54481

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--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®


CA DRE#10215160; 650-465-4547






Comment balloon 20 commentsLottie Kendall • September 26 2014 07:33AM


Thank you for sharing these tips Lottie, hopefully these habits will be followed and a few SF renters will be calling you soon to help them to become homeowners.


Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities) over 6 years ago

That is a very practical way to approach an investor or a standard buyer.  Thanks.

Posted by Elite Home Sales Team, A Tenacious and Skilled Real Estate Team (Elite Home Sales Team OC) over 6 years ago

Lottie Kendall ... Bob Crane is so right!  Many potential Buyer/Borrowers are shooting themselves in the foot in this very regard.  I see Credit Reports all the time that clearly shows why those, even with very large incomes, have no chance of getting approved for a loan.  Their Debit Card statements are miles long with small, seemingly minor expenditures ... that add up to large expenditures each month.  


Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) over 6 years ago

Nice choice for reblog Lottie.  Living frugally and being fiscally responsible can make a huge difference, and create wealth even for those with lower incomes.

Posted by John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) over 6 years ago

Lottie, No kidding it's unbelievable what is happening today with the current work-force. I have tenants who make over $350K a year and can't afford a home but are willing to pay my unreasonable rent and pay off my mortgage for me. SMH. Great post.

Posted by Cliff Keith, Redwood City Real Estate (Golden Gate Sotheby's International Realty) over 6 years ago


Great choice for a re-post.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 6 years ago

Good morning Lottie. It is so true. If owning a home is important, the small sacrifices that need to be made and less important that home ownership.

Make it a great weekend!

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 6 years ago

These are great tips and you are right. My car is 11 years old and I have no plans of buying a new one.

Posted by Sharon Paxson, Newport Beach Real Estate (Compass) over 6 years ago

Hi everyone - Bob's piece really speaks to us, doesn't it? Little things, repeated over time, add up to big things. The choices we make!

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 6 years ago

Good evening Lottie. Far too many folks live beyond their income. This is the reason that we are a nation of debtors.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 6 years ago

Money slips right through the fingers of too many people, doesn't it Michael Thornton ? A little self-restraint can reap huge dividends.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 6 years ago

Eye opening to say the least! Great blog. I am sure some will see this and still stick to grabbing that latte anyway.

Posted by Tanya Van Blake-Coleman, Improving the Quality of Your Life (Van Blake-Coleman Realty, St. Thomas/ over 6 years ago

Great point Bob and Lottie.  Life is about priorities. Read one of  Dave Ramsey's book once and a quote that has stayed with me. " If you will live like no one else now, you will live like no one else later."


You  can have what you want in life. It takes planning to get what you want and time.

Posted by Donald Kolenda, Share the road to your new home. (Kw Rockwall) over 6 years ago

I see this within families, where one sibling get's it while the other GET'S IT!  I expect to see at least a $5 a day habit with most people but when it hits anything over 10% of your net it's time to reassess.

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) over 6 years ago

Overpriced Vehicle seems to be one you see a lot of and the frivolous spending that is so easy to do.


Posted by Scott Gleason, Westfield NJ New Homes Specialist (RE/MAX Select) over 6 years ago

Tanya Van Blake-Coleman - the latte habit is alive and well with all too many people.

Hi Donald Kolenda - oh, the choices one makes. How's life on Kauai?  I need to get back soon.

Kevin J. May - isn't that true about siblings? Hard to understand how one "gets it" and another doesn't.

Scott Gleason - I always wonder who is impressed  by the car one drives.


Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 6 years ago

Great post!

Posted by Fran Hoang (Keller Williams Benchmark Properties) over 6 years ago

Thanks, Fran Hoang - Bob wrote a great piece that was a pleasure to re-blog.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 6 years ago

It's amazing how small changes can add up to big things. There are so many examples I can think of that it's mind-boggling.  Thanks for the reminder!

Posted by Robert Smith, SRES, Search for Homes Brighton-Howell-SE Michigan (Preview Properties, PC - over 6 years ago

Very true, Robert Smith 

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 6 years ago