Disciplines To Buying A Home


Did you know that owning a house comes with a built in savings plan? When most people think of buying a house they think in terms of spending or the costs involved. The costs not just in the initial purchase but also in the monthly payments and ongoing upkeep.

Recognizing the long term costs of renting versus the financial benefits of owning may be all the motivation you need to discipline your spending habits enough to afford that new home this year.
It’s easier than you might think!

START by knowing what you really need, rather than what you think you need. There is no obligation, cost or commitment required to pick up a phone and make a few inquiries concerning local house prices and the loan packages available from lenders to make one of those your own.

Armed with real information you are ready to set up an action plan and defeat that false information that has kept you renting and paying someone else’s mortgage and maintenance costs until now.

A deduction from your paycheck or automatic transfer from checking to savings will keep you on track.Most of us have a habit of spending what we have.If it isn’t in the checkbook to spend, it will be growing that account that allows you to buy a house!

This can be hard at first if you’ve never lived within a budget before, but there is such a variety of self-help resources available for FREE online, it shouldn’t be difficult to find one that you can operate within.

If you are carrying credit card debt, personal loans and/or car loans interest payments are eating into your ability to get where you want to be.As much as possible, consolidate many small debts into one amortized loan (that’s a loan that isn’t revolving debt like a credit card) or transfer to a card offering NO INTEREST for a time period, then pay down that debt!Don’t make minimum or required payments – use ALL the money you were paying on the many loans to pay off the one consolidated loan that much faster – and save money on interest payments in the bargain!
Mortgage rates remain the lowest they’ve been in decades making affordability a broader possibility. That savings plan found in owning a home? In the industry that’s called equity and it’s as good as or better than compound interest paid on your savings account.