Means to an end
Posted by Theda K. on 18 Mar 2008 | Tagged as: Employment, Home Business, WAHM
Even though I want to own my own business, I realize I may have to take a detour on that path.
In the next couple of years I have my sights set on buying a house. To get there, I have to be on a path that includes saving money for a substantial down payment. Mortgage rates fluctuate all the time, and it’s important that I have as small a mortgage as possible.
With people losing their houses left and right, unable to pay their Mortgages, my plan has to be well-thought-out.
Right now that includes getting a full-time job so I can use my freelance writing to add to my savings. It also includes taking a first-time home buyer course so I can be well-informed about mortgages, closing costs, and more.
My dream house? Right now it’s one with a clear view of the mountains and lots of room to grow. I need an office, a playroom, and maybe room for another child.
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Wish you luck with the house, Theda. I think the housing downturn is gonna last till the end of 2009. Means you have to buy a house before that, or you’re going to be caught in the middle of a boom. You might also want to check out sites like realtytrac.com and ‘Yahoo! real estate foreclosures’ for listings of foreclosed homes in your area. You can save upto 50 to 60% if you buy one of these.
And since you’re interested in teaching, do you know about the Teacher Next Door program from HUD? http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndabot.cfm
You follow these tips, and you won’t have to worry about your mortgage. Course, you still have to be everlastingly grateful to me.
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I understand
I work almost full time and also run my business on the side. Right now my business provides the “extras” I have purchased my house and now those extras are slowly updating the home a bit each month….
Good luck !
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The good news is that since there are so many foreclosures you could get a great piece of property or home for less! We’re banking on that too as we search for our dream location.
Hang in there!
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You certainly sound like you have a good plan! I hope you’re able to find a balance between freelancing and a fulltime job.
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I’d probably shoot for the house also. At the rates right now it’s a buyer’s market. Just watch out for those variable mortgage rates.
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You have to do what you have to do. Like you said it’s a means to and end. You are working towards a goal.
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Good luck on house hunting. I would wait till the end of the year. I talked to a real estate broker today and he predicted December 2008 and January 2009 and a good period to buy. Better start making sure you are current on all your payments since your FICO score will affect your interest rate you get.
thanks for the linkluv
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I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog.
Being a single parent is an additional burden. You have to look out for your job and kids. With the crisis currently looming in US, one wonders whether to buy a house or not. Hopefully everything should go on nicely.
Wow..a nice article. Makes me realize how important for me to have my own house. I love your dream home, it would be nice having it rite? i wish you good luck all the years. Do tell us if you succeed ok.
Good luck with everything. I also want to run my own business but have found that it takes a little longer to really get the income flowing. I’ll be getting a full time job soon too.
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