RE: Choosing Patience Over Convinience (Contest #255)

[kerrislravenhill]

I've been there. Shopped a Big house, a small house and everything in between including a few dream house that are not in my reality. The feeling of dread signing a $195,000 mortgage to the elation of burning my mortgage papers. I poured into this goal with a lot of planning and only what I needed for my family and not necessarily what I wanted. It couldn't happen without doing the HOMEwork @cagolistic 🏡
I experienced a few earthquakes over the years, nothing serious yet.
!LADY

Comments

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[cagolistic]

Woah, this is interesting.

Speechless, you have seen it all. You've experienced the pros and cons involved in this kind of venture in all ramifications.

But it seems you weren't stopped by any of them.

Each time, a lesson is learnt and you move on to the next investment as duty calls.

I am happy to know that doing our due diligence ( homework) is a key 🔑 👌 while embarking on such venture.

Woah, you are an epitome of knowledge in so many things .

I have learnt from this comment that going about this venture is not a thing of one cap fits it all.

But what will be comfortable for our family.

Thank you for stopping by, my sagacious super lady @kerrislravenhill

[kerrislravenhill]

Choosing and buying a home is the biggest financial decision of our lives so it is prudent to make sure to get a complete picture. A mistake could cost you plenty and at worst, possibly lose your home and ruin your credit worthiness. My Realtor got a real workout to earn her commission.

Some Highlights;

• I was able to qualify for a Conventional 25 year mortgage. It's much cheaper over the long term.
• It also included a separate Rental suite I can rent out for income since I did not have the financial support of a working spouse. I can write off some of my Mortgage Interest and property tax expenses.
• It was located close to a major transportation hub, using the train or bus since I cannot afford both a mortgage and a car loan. What I saved here I used to pay down the mortgage.
• Located close to my work place and a special Private School where my sons could get proper educational help. I don't get help from the public system.
• And the house is very similar to the one I was raised in. It felt like home immediately. It needed some upgrades and fixes that were addressed in due time as finances and my energy allowed. (I saved some Emergency fund cash by fixing some issues myself, an opportunity to learn a skill too.)

[cagolistic]

Speechless ! 🙊

This comment is a holistic approach to such a lifetime decision (buying a house)

I am happy to learn all these.

This is just a SWOT analysis.
Your realtor was such a great one.
The person made sure that you had proximity to places that you interact with and that the house also located in a good 👍 environment that worth the walk.

I have read this comment over 3 times and yet keep finding interesting points therein.

Thank you for sharing this great experience and advice.

I will make use of it someday in reality.

I am glad you decided to let the cat out of the bag 🎒 🛄

Gracias