Posts from July 31st, 2019

In the past month, I've traveled to Oregon and Utah. While there, I found myself house-hunting with a daughter and a sister. Both are married. Both see the benefits of home ownership and want to jump into the market, given the extremely cheap money offered by lenders (interest rates dipping into the 3s!) and strong appreciation potential.

Being with them and their spouses led me to contemplate, from the 10,000-foot view, a few principles inherent to successful home ownership. Here are several ways to think about money so that you can become a homeowner, prosper as a homeowner, and ultimately, sell your home at a profit.

Needs, Wants and Savings

Spending can be divided into three categories – needs, wants, and savings. Allocate 50 percent of your aftertax income for needs such as food, rent, trans...

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