The Dream -Becoming a Homeowner

This has been my dream since forever. There is just something satisfying about owning your own home. Maybe it  is the since of accomplishment or maybe it is the joy of having your child witness this accomplishment. Whatever it is, owning a home has always been one of my top goals.
Recently I was doing some research about buying a home and discovered that with a little research knowledge, the dream of home ownership can be a not so distant reality. There are so many foreclosures on the market, one could buy a home for $40000 or  less in some cases , even with not so good credit.

Sites like Trulia.com have listing such as these and even craigslist.com. If this doesn't help, the bank themselves have list of foreclosed homes that they are selling. There is also another method of home ownership that is becoming popular and that is, taking over someone else's mortgage  You can pay as little as $10,000 and legally take over the mortgage statement of someone behind on their mortgage payments. Its a win/win for both sides.  I must say I have been considering this method as well. Whatever method a potential homeowners considers, the great thing about is , you will have options and that's always a good thing.

I missed you guys :)

I haven't been here for a while, but i haven't forgotten about you guys. I will be back and posting next week :) In the meantime check out my other blog @  http://www.mommyandthesixofus.com/

MY GOAL TO BUY A HOUSE

When I was about sixteen, I set a goal for myself to buy a house before I turned thirty. I am now thirty-four, but the goal is still very strong for me. I am sure my goal to purchase a house is one of millions in America. There is nothing like the feeling of owning your house and there is nothing like the pride your children will feel with the fact their home is actually theirs.

     We have lived the past ten years constantly worried about where we were going to live. No one should ever have to live like that. I examined what is now going on with the economy and I have also been researching purchasing a home for the past year. I am one of those nutty people who like to know everything there is to know about anything I am interested in. Buying a house is my latest obsession, lol.  

      I intended to purchase my home brand new, but with all the foreclosures that are on the market, I realized that this too could be an option for us.  Many of the foreclosures need work, but there are a great deal of houses, that don't need as much work. There is also the option of purchasing a short sale.  Short sales take longer than a regular home sale, but can be bought at well below the market value. The goal in purchasing a home should always be to make certain you can afford the mortgage under any circumstance. Let's say you get sick, or one of the kids got sick, you want to make sure you can make your mortgage payments with no difficulty.

    The mistake that other homebuyers made, during this economic meltdown was, purchasing homes that they could not afford. This mistake should be well-noted and not repeated.

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Check out this video

Please ignore the voice audio mishap. I think you guys cans learn a lot about what this guy is saying. He says that saving is not the best thing to do, but in order to secure a financial future and investment you would need to save. Please listen to this video and leave your comment below. Thanks guys.

MICRO MANAGE YOUR HOUSEHOLD

    An excellent way to save money in your home is to micro-manage. Yes it sounds minute and maybe a waste of time, but when you are trying to save money and secure a financially future for your family, even the small things can be significant. Every nickel you save on energy costs can go into your savings account or even your children's college funds. Have you thought about making small investments yet? Here are a few micro-managing tips:

1.     Turn off lights when they are not in use. Many times I remind my children to do this, the sometimes forget.

2.     Unplug devices from the wall when they are not in use.

3.     Turn off the air conditioning when you leave your house.

4.     Make sure your home has adequate insulation. This can also keep your energy bill down or make your electric bill really high.

          
Remember that every little small details counts, so take  nothing  for granted.

CASH OR CREDIT?

Having good credit is of course very important , but how we use that credit is equally important.

Here are some reasons why I prefer to use cash over credit:

1. When using cash instead of a credit card, there are no interest rates added to my purchase. Whatever the price tag says is what I will pay for my purchase. Let's say you wanted to buy a pair of shoes and it cost $100 dollars.  If you choose to use your credit card, the cost of that pair of shoes could end up being $120 or more. That is an additional 20%!
2. Using cash keeps my money where it belongs; in my bank account.
3. Keep one credit card and use it only for emergencies.
4. Remember to keep all of your receipts, when you make your cash purchases!  Try storing them in an old shoebox over your closet or somewhere where it will be safe from damage.
5. Paying for anything by credit card means you have to pay the bill when it is due and in full. If you don't pay it back on time and in full, it is highly likely that you will be charged a very high interest rate.
6. Credit cards companies have a lot of tricks up their sleeves, used solely to get more money out of you.

           

     Using cash and using it wisely, can help you to avoid unnecessary debt and wasteful spending.

MONEY SAVING TIPS

       My motto is every penny counts. Take nothing for granted.  Here are some other ways to save money:

1. Use coupons for all of your purchases. I have saved a lot of money at the grocery store by doing this. I have also saved money at many clothing stores. There are coupons for just about anything!
2. Buy generic items instead of name brands. Almost all the time, the generic brands are of the same quality as the name brands.
3. Sell your children's clothing, shoes and anything else they have no use of, rather than donate them.
4. Learn to say no when you cannot afford something. This goes for your children, family and co-workers.

I always tell my children, not to waste anything including food. There are people in this good ole America and in the world as a whole, who don't have enough food to eat. It is a very sad reality. When I hear the stories on the news it makes me very conscious not to take anything for granted. 

SHOPPING WHOLESALE

        In what day or time is a parent not shopping for groceries, clothing and shoes or household supplies. In the area of household supplies and groceries, a good way to save on money and time is to shop wholesale. This save money that can add up in the long run. I myself have shopped at BJ's, Sam's Club and Even Cosco. I find that Sam's Club is much more affordable and even their store brand items work just as well as the name brand ones. I am a woman that don't enjoy shopping. For clothes maybe for groceries hell no! So when I do shop I  make it a one month trip.  Most importantly above all I'm saving money.

LIVING WITHIN YOUR MEANS

                   It can be a difficult task to live within one’s means, but it is practical to do so.  With the age of credit cards and bill me later, many people have grown accustomed to even though they can’t afford to.”  Why spend what you do not have? As I watched the many reports on why the economy went downhill, I hear these four words often "living within your means". With time, hard-work and patience, every goal is attainable. A lot of us don't want to wait for anything. We prefer instant gratification. Here is where self discipline also comes in. When you set financial goals you have to stick with them, no matter what or you won't reach these goals. 

PAYING BILLS ON TIME

           Paying utility bills on time can also help with building good credit. Some landlords will accept a good history of bill payment if good credit is not established as yet. It is also a responsible habit, which goes a long way in establishing healthy behaviors,