Real Estate Bits and Pieces
Blog by Susan Pruden
Cheverly, Maryland
Informal observations about Prince George's County Real Estate and happenings around our local area. I'm Susan Pruden, in Cheverly Maryland and I welcome your comments and participation. CategoriesSubscribeRecent CommentsArchiveRealTown BlogsSite Feed |
Posted at Real Estate Bits and Pieces by Susan Pruden
Tuesday, June 19, 2007
Categorized in: Buyer Tips
Years before I got into real estate, I remember a family who decided they wanted to buy a house. I think one of the parents worked with my mother as a teacher, but whatever -- it's the commitment they made to buy that I've remembered all these years.
They knew they needed to save money, so they went into overdrive during the summer break. They shipped the kids off to the grandparents for the summer, stopped eating out -- not even stopping at McDonalds, stopped going to movies and stuck every penny they could find into their "house fund". No summer vacation -- not even a short trip to the beach. Every time they felt compelled to splurge, they went out to look at houses and neighborhoods instead (and probably took a quick peek at their growing nest egg!).
By the end of the summer, they were amazed at how much they had saved. They were even more amazed at how much they normally spent on non-essentials. They said they didn't even miss most of it.
Their single-minded devotion to meeting their goal has always stuck with me. I guess it all depends on how badly you want something and how much you're willing to sacrifice to meet the goal.
Owning a home seems like a worthwhile goal to me!
(C) Susan Pruden. |

1. re: Committed to Buying a House
Gee, why work so hard when you can get an interest only loan for $850,000 while carrying 8 thousand dollars of dept on three different credit cards. Sheesh, what were they thinking.
OK, back to financial reality, it seems people have forgotten what it means to work for something, and buy when they can actually afford to buy. Whatever happened to the notion of a "starter home"? You know, buy a smaller house that is affordable, live in it while you save save save, then sell and buy the house of your dreams. Now people go flying blindly into terrible loans, huge homes, and doggy day care, and wonder why they can't make their payments.