The Hidden Costs of Homeownership | Buy Less Than You Can Afford #realestate #realestateinvesting
Discover 10 real estate hacks that everyone should know, whether you are a home buyer, home seller, or you have any interest in buying or selling a home. You'll only find these incredibly valuable lessons here. These 10 Hacks are:
(1) Hire the Best
(2) Get 3 Bids
(3) When Selling, List on the MLS
(4) When Selling, Your List Price Can Never Be Too Low
(5) When Selling, Your First Offeror is Your Best Offeror
(6) Buyers Are Liars, And Sellers Are Too
(7) When Buying, Buy Right, or Not at All
(8) When Buying, Buy Less Than You Can Afford
(9) If You Can't Qualify for a Mortgage, Get Creative
(10) Always Maintain Walk Away Power
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Even during 2020 my wife and I were able to buy a $350k house. We bought a $185k fixer upper. We are able to survive and save on one income with our $1200 a month mortgage. We have one car we own out right and one financed we will pay off next year. We completely replaced our kitchen, bathroom, living room and hallway flooring with all new trims and windows. New AC unit, new water softening system. it’s now worth almost $300k and our only new expenses we are looking to take on are a new driveway, finish the master bedroom, possibly finish the basement, and do the landscaping with a patio out back.
By the time we are done this house will easily be worth $320k-$350k and we will likely have a mortgage of $150k by that point.