Quote:
Originally Posted by schellingr
Buying a house is awesome and all but its very expensive. You will want things for the house (decoration, furniture, nice gadgets, upgrades, etc) and repairs are expensive as well.
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But it's not like housing is an optional thing - if you don't buy, you have to rent. For a few bucks more you can have a house of your own. Buying a house can be more expensive while you're making payments, but you have an asset when you get done (and a "free" place to stay). When you rent, you end up with nothing; if you're lucky, you get your deposit back.
As with a car, house maintenance and repairs are a lot cheaper if you don't let things go. Deferred maintenance is always more expensive. Fix things at the first sign of trouble.
Make sure you have enough money saved up to cover the deductible on your homeowner's policy. I spend a little extra for a low deductible and extended coverage - might cost me a few bucks that I could use better elsewhere, but I sleep better at night.
Save as much as you can. When you spend, spend to save in the long run. Treat yourself every now and then, but NEVER sacrifice financial stability for a little fun.