Home Ownership
The decision to purchase a home and to own it, live in it, and to maintain it is like signing your current lifestyle away--for most middle-class, and probably most everyone. It is a major financial and emotional decision that affect how your lifestyle will be transformed. If you have a plan to survive this transformation, then you're more likely to continue to enjoy owning your home.
Reading up on the foreclosures and observing what many 20s/30s deem important these days, owning a house isn't really one of them. Maybe the philosophy has changed and that owning a home really isn't important anymore.
Fundamentally speaking, it's about if you are willing to make a small, short term sacrifice, to capture the bigger fish. What I mean is: are you willing to cut back on speading money on frivolous items, put that money towards savings or some investments, and delight in the rewards much later--much much later? Rooted in this is the recognition that you shouldn't buy the house you can't afford--don't let other people fool you, especially the bankers.
As a home owner for almost 9 months now, I can see the changes I had to make in order to upkeep the house. But those changes aren't just financially beneficial. It changed my way of financial decision, I eat healthier at home, and I learned a great deal about house repair. While I still gripe about some of the sacrifices I had to make to my previous luxuriously life, I am more envious of what I got now.
The decision to purchase a home and to own it, live in it, and to maintain it is like signing your current lifestyle away--for most middle-class, and probably most everyone. It is a major financial and emotional decision that affect how your lifestyle will be transformed. If you have a plan to survive this transformation, then you're more likely to continue to enjoy owning your home.
Reading up on the foreclosures and observing what many 20s/30s deem important these days, owning a house isn't really one of them. Maybe the philosophy has changed and that owning a home really isn't important anymore.
Fundamentally speaking, it's about if you are willing to make a small, short term sacrifice, to capture the bigger fish. What I mean is: are you willing to cut back on speading money on frivolous items, put that money towards savings or some investments, and delight in the rewards much later--much much later? Rooted in this is the recognition that you shouldn't buy the house you can't afford--don't let other people fool you, especially the bankers.
As a home owner for almost 9 months now, I can see the changes I had to make in order to upkeep the house. But those changes aren't just financially beneficial. It changed my way of financial decision, I eat healthier at home, and I learned a great deal about house repair. While I still gripe about some of the sacrifices I had to make to my previous luxuriously life, I am more envious of what I got now.
