It’s time for another edition of Dollar and Cents. This is where I answer one of your questions.
My husband and I have found our dream home, but we are dealing with a hard headed real estate agent who currently owns it. She has it on the “hidden” market but is too high for us at this time.
Our house is currently on the market, we are having cold feet and our debating taking it off. Do you recommend us socking away more on our mortgage, we could pay a extra 400/month and pay off in 6 yrs while we are waiting on her to hopefully reconsider on the “dream home” or try to sell and see what happens?
Which would possibly send us in to renting and saving that way. I hope I was clear enough on my question.. We don’t want to make a HUGE mistake.. Hope to hear from you soon.. Thanks so much for the awesome site!
We are parents of two boys, another reason I love to read House of Rose we have one that strips down after preschool into his underwear.
With each Dollars and Cents video we want to provide some follow up links where you can get some additional information on the topic. If you are interested in learning more on buying a home, the true cost of owning a home, or the best places to save money for a down payment, here are some good reads:
- Top Savings Accounts Online – Cash is king! Having extra money saved up for a down payment or just a rainy day emergency fund is invaluable. Here are some of the best accounts online to save your money in.
- Best Short Term Investments – There are a bunch of different types of accounts you can use to hold your money until you need it for a down payment. Here are several to consider.
- Before Purchasing a Bigger Home, Consider These Things or Go Broke – It seems so great to be moving into a bigger house, but there are a lot of pitfalls to watch out for, too.
- Home Sweet Home: What is the True Cost of Having Your Own Home? – Owning a home goes a lot further than the price you paid and the monthly payment. A long list of costs you might not have thought of.
- Should You Upgrade to a Bigger Home? – There are a lot of things to consider when upgrading the size of your home.
- 23 Ways to Save Money Building Your Dream Home – My wife and I built our dream home and learned a lot about the ups, downs, and everything in between. Saving money during construction will save you a ton of money in the long run.
- Is Paying Off Your Mortgage Early Always the Best Option? – You might be surprised by what you find. There might be better uses for the $400 per month our reader is considering using to pay down her mortgage.