Being a homeowner is a lot of work

Filed Under ( , , , ) by Joe Somebody on Tuesday, March 8, 2011

It seems almost every post is about fixing or renovating something else. I guess that is the life of a homeowner. I wont say I dont enjoy it but I do know as time goes on all these big projects will get finished. Then all I will be left with are small projects that I feel like doing. Fingers crossed I dont think of more bigger ones. Laugh.

In the long run, hopefully every project that I take on will only increase the value of my house. That is the true goal. That way when I go to sell I have a better spread to work with. Then I can start the entire process all over again. The goal next time would be to do it faster and try for a flip. If I can do a flip, this blog will take a drastic turn in direction. Flipping is an entire different bottle of wax.

At the same time, I may not sell this house. My current goal is to pay off as much as I can. I even have a spreadsheet that shows that its possible to pay off the house in 61 months. That time frame requires a room mate but it is possible. Ill then be 33 and own my home outright. That would be pretty impressive.

Having all that extra money every month. I would be doing a lot of traveling and investing. I think owning your home is one of the biggest steps to becoming wealthy. Just think about the money you spend every month. That biggest payment is either your rent or mortgage. If its your car, you either live at home or have several room mates or you possibly made a bad decision on a new car (Sorry but Dave Ramsey says so).

I like the idea of owning this home. I feel like I could accomplish a lot more in life. Thats an extra $15,000 a year. Thats a nice pile of cash to have around. I have a lot to think about in the next coming years. You will all find out what happens too.


7 Responses to “Being a homeowner is a lot of work”

  1. Sounds like some excellent goals. We would just like to buy one tiny house, get off the grid, and be done with it. (:

    Should be pretty easy at that point to use whatever extra money comes our way to go travel or something.

  2. Owning a house and in your case re-builiding it it surely a big thing achieve already.

  3. Working on your house makes you feel better. Like you earned it or something.

  4. good luck! :)

  5. Sounds great, good luck finding a roommate. Decade-long mortgages (well, and taxes) are the modern form of medieval oaths of fealty, so it's nice to hear you might be close to escaping that.

  6. fixing your own house is great, it's like your own baby.

  7. Do whatever you can to pay it off. Don't waste money on stuff you don't need. And good luck! =]

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