How (and How Not) to Buy a House
I read the article How (and How Not) to Buy a House by Mr. Money Mustache. Basically the title of this article tell you what it is mainly about, it about different ways of how to and how not to buy a house. Buying a house is not an easy task to do. For an average person buying a house is probably the biggest purchase he or she will make. When buying a house, a person can have huge success or failure depending on the skills you have. Mr. Money Mustache talks about different things to keep in mind to successfully buy a house. He talks about having a calm and rational mindset. This is very important when buying a house. He talks about location. Before buying a house you need to keep in mind of location. Location can play a major role in being close to work, school, library, grocery stores and much more. He also talks about rent vs. buy. He tells us if we have the opportunity to buy a house we should because renting is just wasting your money. When you buy a house you are building equity. He talks about buying a fixer upper over a fancy luxury house because it cost a lot less to renovate a house. Also you should ignore the small details and pay attention to the big details. Lastly you should take your time when buying a house. Do not be in a rush. There are frequent random events, like a bank dumping a foreclosure at $100,000 below market value or an estate sale with an out-of-town realtor setting the price way too low.
A quote I really like is “I am not buying a flowery pillowcase of emotions or a future of warm memories. I am conducting a business transaction to purchase a piece of land and an assembled collection of construction materials.” One of the most important skill to have is the right mindset when buying a house. This quote tells us that when buying a house you are a business person looking to conduct some business. This mindset is essential to get the results you want.