Renting as a Way of Life?

Dave Ramsey’s thoughts on renting long-term and not buying a home. Dave thinks it’s financially unwise in most cases and explains why.

The problem is throughout the scope of your life, you’re going to pay more every single year to be a renter. By becoming an owner, you can lock in the vast majority of your expenses and the home goes up in value.

I would not say that renting is a way of life. I will tell you a lot of people get in too big a hurry to buy, and I think renting for a period of time—longer than some people think—is a good thing. 

Co-signing is a Dumb Idea

Celeste in Minnesota and her husband are close with her brother. He called them to ask about co-signing on a home loan. How do they lovingly and respectfully tell him no? Not doing the deal is an act of great love, as Dave explains.

The truth is that co-signing is a dumb idea because if any little thing happens, it could put a strain on an otherwise great relationship.

10 ways to update your home without breaking the bank

These home improvement projects - from redoing a bathroom to adding a dormer - will increase your satisfaction with your home, while adding to its value.

The True Cost Commuting

The closer you live to work, the more money you have for a house.  That’s common sense for most (we hope).

While the numbers on this info graphic are probably a stretch — they do illustrate the dynamic that even the smallest changes in our life (money spent on commute) can have on other areas of our life (our home).

moneyisnotimportant:

According to US census data, the size of the average American home in the 1950s was a modest 1,000 square feet. Today, the square footage has more than doubled to nearly 2,500.

It’s easy to get trapped into thinking that you need a bigger house.  The thing is, we’re like goldfish.  We expand to the size of our living space.  Because of this, it won’t be long before you feel like you’ve outgrown your new apartment or house.

Buying a new house and moving is so incredibly expensive.  So, if the only reason you’re moving is to have more square footage, be sure to give it a lot of thought before signing on the dotted line.

How Big a Backyard Would You Need to Live Off the Land?

(Click image for larger view)

Jake Tapper breaks down the president’s $3.8 trillion budget

We’re betting that most Americans don’t have a formal budget… So this REALLY gets to the root of our problem. One thing’s for sure, this much debt ($159,000 per American) coupled with wildfire spending is NOT helping our economy.

Those of us working in real estate/housing, should understand that our woes are just a part of the whole.

In Summary: Too many people buy things they don’t need with money they don’t have…