Archive for the Home Ownership

Tips for a First Time Home Buyer

Three and a half years ago Mr. Money and I decided that we’d like to settle down and become homeowners. This was back in 2007 when the market was so-so and real estate was a buyers’ market, but not nearly as depressed as we are currently seeing. We decided in our heads an amount we felt comfortable spending, and went from there. We didn’t really sit down and figure out a budget and how a monthly payment would factor into it. While we certainly made some mistakes when it came to our first time purchasing a home, I have enjoyed the time we’ve lived in the house and all the improvements we have done to make it our own. I’m going to share some tips in hopes that it will help someone else who is searching for their first home. 1. Focus on the long term. We decided that we wanted to buy a house to put down some roots and have some stability in our lives. Unfortunately, we live in a state where we don’t have any family. That’s […]

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Calculating Home Values

Our neighbor’s house is for sale.  Because I was curious, I looked up what they have the list price set at online.  It’s a 2800 square foot beautiful old farmhouse located on a little over an acre.  I have been in love with this house since we moved here.  Well, the price is now low enough that we could realistically buy this house and be able to afford it.  They’ve got it listed at about $70,000 than I thought they would list it for.  I almost threw up when I saw that.  I think they have listed the house at a much lower price than what it is worth.  I do know they are extremely motivated to sell. I’ve thought about us buying that house and moving next door.  How convenient would that be?!  We’d have a little more property, a much bigger garden, and a garage.  However, with the age and size of the house, I’ll bet the utilities on it would scare the pants off me.  Plus, we really don’t need 2800 square feet.  That would be a […]

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My Free Living Room Makeover

Before                                                               After We all know I like to take on home improvement projects that are just too big for me sometimes. That’s just my personality. A few weeks ago, I decided that I was sick and tired of our living room and having it feel like a cave. I wanted to brighten up the room, so I decided I would paint, especially before we replace the flooring. Using the Points I had accumulated, I redeemed them for a $50 gift card to Home Depot. I went there, picked out my primer and paint, and went home and got started. I spent many, many days off working on priming, taping, sanding, trimming, and finally painting. It took me a few weeks with me working off and on, but I love the end result. The best part for me? I didn’t have to spend anything out of pocket. Using my bank’s […]

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Ebay, Craigslist, or Goodwill?

In my basement and extra bedroom, I have a pile of items that I am going to sell on ebaycraigslist. or The piles have been there for a few months now, and contain items from hardwood flooring that we didn’t end up using to clothing I thought I could sell, to little knickknacks that I thought someone else would treasure.  I have listed many of the items on craigslist and only had one person interested in a stained glass mirror, and she actually came and bought it about 20 minutes after I had listed it.  While it was nice to get that extra $15, I realized that the stress of having this clutter in my house just isn’t worth it any more, and today I’ll be hauling a lot of this crap to the nearest Goodwill. I almost feel like I’m throwing away money, but it’s pretty apparent that these items are not going to sell, no matter how much I think they are worth.  Maybe people just don’t like or need the items, think I’ve overpriced them, or something […]

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Costs of Refinancing

Today I sat down and calculated exactly how much we’re going to be saving by refinancing our mortgage. Here’s the stats: Currently (starting balances) First mortgage:  30 years at 6.375%;  Principal and Interest $748.07 Second mortgage: 20 years at 6.89%; Principal and Interest $172.75 If we paid these for their whole terms with no extra monthly principal only payments we’d pay $168,332.51 in interest alone for both of these loans together.  By consolidating, we’re going to now have: One payment; 30 years at 5.59%; Principal and Interest $790.23.  If we pay this for the complete 30 years with no principal only payments, we’ll pay $146,686.03 in interest.  While this number makes me nauseated, it also makes me feel good to know that I’m saving $21,646.48. Sweet! We’ll have to escrow our own taxes and insurance, but that won’t be a problem. We are extending our mortgage two and twelve years respectively, but that’s okay.  I am looking forward to the lower monthly payment so I can have that extra cash flow for other debt. I can always make principal only […]

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Why Being a Homeowner Sucks

Three and a half years ago I was dying to settle down somewhere and find a place to call home.  We decided to purchase a home here and stay put for awhile.  The plan was to fix the house up and sell it for a profit.  We all know how that story has played out so far. 🙂  Regardless, we really do enjoy living here and making this house a home.  However, there are downfalls and I wish we had known a little more before purchasing our first home. Here’s what I wish we had known (and what sucks sometimes) about being the home owner. -You’ve got to maintain the yard work yourself.  The beautiful gardens in the front and backyard?  They have to be weeded and maintained.  Sure, things are pretty easy to grow, but weeds are as well!  If you’re thinking about buying a house with some property, think of mowing it by yourself with a push mower.  That may make you change your mind. -Paint is cheap but painting can take forever.  I just worked on painting […]

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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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