So my wife and I are starting to shop for a home. We’ve never owned a home before. We almost did twice before, in two different states and in what seems like two different lifetimes ago. For a variety of reasons, it didn’t happen either time, but I’m pretty sure it will this time.
You: What makes you so sure?
As I said to a friend at a party recently: “If we don’t buy a house soon, you won’t hear about a divorce, you’ll read about a murder.”
You: Your wife really wants a house, eh?
Yes, quite perceptive of you.
I’m ready, especially now that the bubble has become self-evident. Still, I’ve always been cautious about owning a home and remain so. Not that it’s going to stop me (remember, I like life), but an article featured in this week’s carnival of personal finance called The Other Costs of Home Ownership serves as an excellent reminder that owning a home has far greater costs than simply the monthly mortgage. Tough Money Love gives quite a list including:
- Property taxes
- Homeowner’s insurance
- Lawn care
- Internal maintenance
- Keeping up with neighbors
- and on and on.
So my question to you homeowners: What’s surprised you, financially speaking, about buying and owning a home?
To everyone, regardless of homeownership/renter status: are you interested in hearing about our progress towards home buying including the ups and downs, the negotiations, selecting and working with a realtor, the pro’s and con’s of various properties, and so forth? Which parts of the home buying process would you find to be the most interesting or educational?
Tags: home buying