Comments on: Home Sweet Home: What Is the True Cost of Having Your Own Home?

By: Hailee

Hailee — Thu, 26 May 2022 17:09:41 +0000

That was a great except on the fact that a house because it’s free…

By: Jaye Showalter

Jaye Showalter — Mon, 19 Feb 2018 13:33:01 +0000

Great article! My sticker shock arrived when I realized I needed to buy a refrigerator/freezer; a stove; a washer and dryer; garbage cans; cable for TV and Computers; and hire someone to mow the lawn!
But it is like living in a bank; it appreciates every single year.
Jaye

By: Savvy Financial Latina

Savvy Financial Latina — Tue, 28 May 2013 15:14:56 +0000

Great article. It’s one of the things I’m considering as we prepare to buy a house. How will we stay under our budget. It seems like every homeowner is always spending money. Not something I look forward to. But we want a slightly bigger place, and want more space between the neighbors and us. Is this enough to justify buying a home?

By: Mike@WeOnlyDoThisOnce

Mike@WeOnlyDoThisOnce — Tue, 21 May 2013 13:29:22 +0000

There are also psychological and emotional aspects, such as reassurance of stability versus worrying about your mortgage.

By: Michael @ The Student Loan Sherpa

Michael @ The Student Loan Sherpa — Tue, 21 May 2013 11:56:51 +0000

Great Article. If your income was upwardly mobile, and you were in the market for a home, wouldn’t it make sense to stretch your budget bit to afford the nicer home? I say this because I feel like a home purchase in today’s economy is a great investment and view “stretching a bit” as the equivalent of living a little leaner so that you can put more money into your retirement.

By: KC @ genxfinance

KC @ genxfinance — Tue, 21 May 2013 07:50:11 +0000

Good post. Because of the excitement of owning a home, which can get really overwhelming, some people disregard going into details, top be thorough. That’s why you need to know as much as you can and don’t let yourself be fooled. Make a budget is quite important and plan well.

By: Joshua Rodriguez

Joshua Rodriguez — Mon, 20 May 2013 21:54:30 +0000

Great article! There are so many hidden fee’s that come with owning a home that many are not aware of. This is why putting a budget together is essential!

By: Joe Terceira

Joe Terceira — Mon, 20 May 2013 20:35:24 +0000

Some great points Jeff. This article explains exactly what most home owners do when buying a home. They forget all the aspects and costs associated with owning a home, and leave themselves vulnerable in the event something bad happens like losing their jobs, or a death in the family. Fantastic article

By: zimmy@moneyandpotatoes.com

zimmy@moneyandpotatoes.com — Mon, 20 May 2013 20:09:32 +0000

Home repair and maintenance will not be so hidden once smoke starts coming out of your furnace or something as simple as forgetting to change your units filter every 3 months. You could be hit with a bill in the thousands that you must pay or go without A/C.

Some of these costs can be mitigated with a good home warranty company that costs a few hundred a year. I have heard of people having some bad experienced with them not paying for repairs though.

By: krantcents

krantcents — Mon, 20 May 2013 17:37:38 +0000

These are all good points and should be considered when you are thinking about buying a home. If you keep your direct (mortgage, property taxes, and insurance) cost of home ownership below 33% of your income., you will be able to handle your home expenses.