In this week’s episodes, we’re buying a home! Or at least thinking about what we need if we were to buy a home. In today’s episode, I’ll be sharing some advice for ensuring that you’re making good financial decisions.
If you’re in any part of the homebuying process, your illusions of that home you’ve dreamed of buying are possibly shattered by now. For that, I’m really really sorry. But, it’s really only possible to get a hold on what you can afford with a little experience, leg work, and time with a calculator.
So today I’m offering a gentle reminder to check your budget regularly throughout the homebuying process. As new expenses arise—stuff like falling in love with a home that doesn’t include appliances—be sure that you’re checking back in with your financial plan. It can be weirdly easy to get starry eyed because a home feels right and because you can imagine yourself there. But those stars don’t typically make a dollar sign constellation, if you know what I mean. If you are trying to decide between the home of your dreams and financial stability, I would strongly recommend going with a third option—time. Give yourself as much time as you need to keep yourself from being tied to this major financial obligation that you might not be ready for. You should move into homeownership with confidence and certainty, not questions and anxiety. That pit in your stomach will only get worse the first time your air conditioner goes out or when you notice that trail of ants coming in through the window. So even though today’s episode is short, I want to invite you to give yourself time to find a home that you love and that is financially responsible. Renting is not the end of the world, even if you’re in between homes that you own. Preparing for the financial worst is absolutely okay, and I personally encourage it.
As you’re looking at buying a home, remember to list out the Features of a Home, Build Your Homebuying Sequence, Find a trustworthy realtor, learn about your home during your inspection, and check your budget as many times as you need to feel confident in your choice. You CAN do it, I can help.
If you learned something from this week’s episodes, I’d love for you to share about it on Instagram and tag the show @nowthatimnotyourteacher! See you Monday.
Now That I'm Not Your Teacher by Taylor Vogel is a podcast that offers insight about the real world stuff that teachers often want to say, but either don't have time to or really shouldn't.
Click "Read More" to access the full transcript for each episode, and be sure to leave us a rating and review on Apple podcasts!