Buying a House
As you know, I have pretty strong views on buying property. As a first-time house buyer, it’s the most complicated purchase you’ll make, so it pays to understand everything about it beforehand.
I’ve collected a few tips on real estate that will make you smarter than 99% of people, and save you thousands of dollars. And for would-be investors, there’s a seven-part guide to real estate basics.
House-buying articles from I Will Teach You To Be Rich
- My friend was about to buy a million-dollar house with no research. This is too common among my friends. When you buy a house, you need to be an expert on real estate.
- How to save $71,000 in interest payments off your mortgage. Once you have a mortgage, you can optimize the hell out of it.
- Is it better to pay off your mortgage early or invest? The answer may surprise you.
- Fixed-rate vs adjustable rate mortgages. Why are some people still taking the risky route when buying a house?
- Why do we assume that high house prices are good? I show headlines from around the country and offer another way of thinking about housing prices.
Notice anything above? Here’s a bonus rant on why I never call it “buying a home“.
Some of the best ever articles on real estate
- This page quickly destroys common myths of owning a house, such as the benefits of tax deductions and the idea that you’re throwing money away on rent.
- In the Long Run, Sleep at Home and Invest in the Stock Market. The seminal article from the New York Times on why we underestimate Phantom Costs like insurance, inflation, maintenance fees, and taxes. Note the haunting story at the end.
- Why your home is not the investment you think it is. Good overview of common misconceptions about buying a house as an investment.
Guilt and real estate
Isn’t it ironic that we feel guilty about our daily latte, yet we don’t focus on our credit? If we did, we’d see that the difference between someone with excellent credit and someone buying a house with no credit, is over $10,000 per year. How many lattes is that worth?
Chart from myfico.com mortgage calculator, May 2009
The Weeklong Series of Real Estate Investing Basics
Regular readers know that I’m not especially enthusiastic about investing in real estate. In fact, for most individual investors, real estate is a poor choice. But if you’re prepared to put in the time to learn, you can reap the rewards. So I asked Owen Johnson to create this seven-part series on real estate investing to help you decide if you’re cut out for it.
- The Real Scoop on Real Estate
- Starting Down the Real Estate Investment Path
- The Transaction Mechanics
- A Primer on Real Estate Agency
- Leveraging Yourself to Grow Your Wealth
- Management Infrastructure
- Real Estate Basics – In Review
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