Let’s talk about housing. 

– When we’re thinking about purchasing a home, we first have to realize that rent ≠ mortgage. Just because your rent is $800 doesn’t mean that you can afford a home with an $800 mortgage payment.  On top of that payment, you have taxes, insurance, HOA dues, increased utilities, and maintenance to worry about.

– Renting is buying housing services – and patience.  If you don’t know how long you’ll be somewhere, have a likelihood of being transferred, or are in the midst of life transition, renting is a perfect solution.  It’s not ideal long-term, but it can be a great short-term fix.

– Before you purchase a home, you should be free from any other debt, and have money in the bank.  We’ve all seen what happens when people that don’t have any money go and buy homes.  When you buy a home, you want it to be a blessing, not a curse.  Make sure that’s the case by buying when you are financially ready, not when “the market” says you should.