020 Financial Excellence: Now’s the Time to Buy a House

11 Aug 020 Financial Excellence: Now’s the Time to Buy a House


 

Living In Financial Excellence

This week we talk about buying short sales, selling items on Craigs List and going on debt free vacations.

Show notes:

– Last week (episode 19) we talked about a tv show we watched about a financial coach who goes into homes to turn couples’ finances around. We had several comments on the show so we shared a little more about the series entitled “‘Till Debt Do Us Part.”

– How intense are you when it comes to eliminating debt? We talk about our intensity level when we were paying off our debts.

– We reduced our cable package in our house and it actually resulted in more quality time with our kids. Now we’re talking about cutting cable altogether!

– Now is a phenomenal time to buy real estate if you have your finances in order. You can save a lot of money when you purchase short sales, but buyer beware.

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2 Comments
  • Meg
    Posted at 20:56h, 13 August

    Thanks for posting the show! We dont get “Slice,” but I see there are some episodes on CNBC. I love watching stuff like this! Yes, I’m the N-E-R-D!

    You spoke about debt-free vacations, and selling stuff. Well, this past week, I havent “sold” anything, but I’ve switched services and negotiated pricing. Because of this, we are saving $780/year!

    1.) Satelite Dish – I wish hubby would get rid of it, but because he wont, I asked if he could do without a few channels. He agreed, and it saves us $15/month!

    2.) We were under a contract price for our DSL for 1 year – it went up. I started shopping around (we live in a rural area, there are rarely more than 2 choices for services). Got a quote from another company. Called our original company back telling them what the other offered, and they AGREED TO LOWER OUR PRICING if we stayed with them! Saving us a little over $20/month!

    3.) Since moving to the “country,” we have to pay for trash service by itself. One company was charging us $93/3 months. I noticed a “blue truck” in the area and decided to call. They are $48/3 months! Saving us $180/year!

    4.) Last, but not least, we are working on refinancing our home. We originally bought this fixer-upper for the price of a low-end BMW. We had a HELOC at 5.99% for 20 years. We have had this for almost 3 years. We have an application out for a 15 year mortgage at 3.25% interest for 15 years. With the closing costs, we will owe $15 less a month, pay off our house 2 years earlier, and save over $25,000 in interest! Of course, we are paying the house off earlier than the 15 years, but if anything where to happen and we couldnt pay the house off early, this is still a GREAT savings!

    Total saved by making some calls (that took less than an hour): $780.

    This is going toward the “snowball” and when we are debt free except the house next year (next year), we will be going on a paid for cruise completely debt free for the first time ever!

  • Matt.Wegner
    Posted at 20:14h, 15 August

    That’s awesome Megan. Way to Go! Keep up the intensity and you won’t believe how quickly you build financial independence.