Friday, June 28, 2013

Home Ownership - Don't get caught up in the "wanting" while ignoring the "paying."

"Saint Peter don't you call me 'cause I can't go, I owe my soul to the company store" go the words in the song Sixteen Tons made famous years ago by Tennessee Ernie Ford.

Years ago working folks in many mining towns found themselves in a situation where the employer would deduct the rent from their pay while letting workers also run a tab at the company owned store.  The company would automatically deduct the tab from the paycheck and the worker would continue to work.

At some point the debt would be so high a worker was stuck.  They were like a hamster on the wheel of life.   They could not afford to pay off the tab and move to another job or town.  They owed their all to the company store.

What does this have to to do buying a house?

Just this one word...moderation.

The bank is not a company store although it may loan you money for necessities (your house, your car, your credit card, etc).  Still, you don't want to find yourself in a position of continuing to work just to pay the "tab."

There is more to life than working two or more jobs to have the biggest house, newest car, and fanciest whatever!

Home ownership, like a solid education, is a good thing.  It is a positive direction for one's future.

But don't get caught up in the "wanting" while ignoring the future "paying."

When you are ready to buy or sell a house or condo in Brevard County, Florida, call me at 321-693-3850 or email me.   I am here to assist... not over sell.

If you would like to search the Brevard MLS system, go to www.movingtobrevard.com.