House Buying

I have bought a house or two during my life.  For those of you who have this opportunity, I would say do it if you can.  Owning a home is an amazing thing.  To begin with, it is quieter and your space is your own - pretty much.  I mean, usually you will be living in a city or an association so there are some rules.  But the advantages far outweigh those rules.

With a house you have a place to retreat from the world.  You can garden in your yard, relax in your patio, work on home improvement projects, and grow your family.  Do you want a dog?  get one (if you can care for it).  Dogs are amazing too!  I'll have to talk about my dogs some time.

In the long run, your house should cost you less than renting.  This is because houses generally increase in value (the past few years not withstanding).  Whereas your rent just goes to your landlord.

Of course, you will have to make house payments.  At first these may seem high.  But after a few years you will find that your house payments are actually less than the rent because they stay relatively constant.  Rent always goes up.  So just make sure that you have enough income to make those payments.  I think most experts recommend that your house payment be about 1/3 of your monthly income.  Also, try to make as large a down payment as you can.   20% at least.  This lowers your principle and also your payments - and you wont have to pay mortgage insurance.

There is a lot of paperwork to sign.  But don't be intimidated.  Just read it carefully.  Talk to friends who have been through the experience and can share the things to look out for.

But definitely, get yourself a house.