How to Own A Home Without Going Broke
by Tracy Latona
I’m going to say something that might trigger a lot of people (especially mortgage brokers).
Just because your credit score says you can get a mortgage, does not mean you can afford a house.
If I’ve hit a nerve, bear with me. I care for you and don’t want your home to be a financial burden that keeps you up at 3am doing budget gymnastics worthy of an Olympic gold medal.
Let’s be real: The banking system isn’t designed for your financial freedom. It’s designed to keep you paying interest for decades. That “pre-approval” amount that feels exciting isn’t a gift; it’s bait on a 30-year hook.
This season of buying and selling our home has reminded me that homeownership is not for the faint of heart, nor the faint of wallet.
It’s like dating someone who’s high-maintenance but worth it… if you can afford the upkeep.
Here’s what mortgage brokers WON’T tell you:
You need a 3-6 month emergency fund BEFORE house hunting. Because that furnace WILL die in February… during a polar vortex… on a holiday weekend.
Moving expenses, closing costs, and Home Depot trips add up FAST. (Seriously, ONE box is $4.63?! Was the cardboard harvested by unicorns?)
If you’re still paying off debts, your house becomes a financial prison. Nothing says “home sweet home” like ramen by candlelight to save on grocery and electric bills!
BUT WAIT…This isn’t a “never” message.
It’s a “Let’s get you there,” message!
If you have debt and no savings, homeownership isn’t forever out of reach. It means we do this in the right order!
Let’s get your debt paid off, build your “OH CRAP!” emergency fund, and money for the house.
Think of it as preparation, not punishment. Let’s Clean up your finances FIRST, and build solid money habits, THEN pursue homeownership.
And guess what? Having a focused and intentional plan means you’ll get there FASTER than you could imagine (especially with a financial coach!).
The difference? When you get those keys, you’ll feel excitement instead of fear. You’ll be debating paint colors for your bedroom instead of calculating if you can afford both electricity AND sending your kid to summer camp.
Our house adventure has drained about $3,500 in unexpected expenses in ONE MONTH, with more to come.
Without our emergency fund? Nightmare, not adventure.
A house should be a home of peace, not panic.
Picture this for your future:
You unlock your front door, and step into your brand new living room that’s YOURS.
You have no debt, money in the bank, and your mortgage payment doesn’t eat you alive.
You can handle that broken dishwasher with ease because you didn’t put every penny into getting a house. You’re filled with gratitude for your home, instead of worry if you can handle the payment.
This is my reality, and it can be yours too.
Even if it feels like a stretch right now.
I know you want your home to be a place of rest.
And having an intentional plan means you’ll get there FASTER than you could imagine, especially with a coach.
Book a Money Strategy Session, and we’ll create a plan that makes your future home a blessing, not a burden.
Ready to do homeownership God’s way?
Your Coach,
Tracy Latona
P.S.- If you’re already a homeowner and feel like you went for the Disney Fairytale, but it turned into a Grimm’s story, it’s not too late to make homeownership a blessing! Book a Money Strategy Session and we’ll uncover how to make breathing room in your finances and stop the stress.
