A down payment for a house can be one of, if not, the largest single expenses in a person’s life. It’s no wonder many choose to rent instead of purchase. However, if you are like us here in the Heartland on FIRE household, you may be addicted to real estate and home ownership may be a very important goal for you. We figure we have one or two more houses in us yet. As with all goals, a well thought out and soundly executed plan is key to achieve your objective. The problem is, there are several options to consider. So let’s take a few minutes and run down some of them to see what may be the best option.
[Read more…] about Own a Home but Looking to Move? How to Save for the Next Down Payment
We have a potentially lucrative investment opportunity on the horizon. It will take an aggressive savings strategy to be able to jump on it. So, I wanted to walk through our thought process on how we plan to attack this ambitious short term savings goal.
We’ve all heard the phrase “Keeping up with the Joneses”. That is the arms race of measuring one’s worth by comparing one’s possessions and status with one’s peers. It means acquiring the biggest, the best, the newest, and the most expensive things. You look down the street and see the family with the new car and you set your sights to figuring out how you can buy one yourself. A friend gets a new job or promotion and you feel the pressure to improve your own career standing. You have to be the first among your friends to buy the newest iPhone model. It is an insatiable pursuit of more and better. If you look around, it appears that we are surrounded by the Joneses. Do we have to keep up with the Joneses? Is there another way?
A couple weeks back I posted about