Your decision to become a homeowner can be one of the most pivotal decisions in your financial life. Undertaken responsibly, home ownership can form the foundation to your financial well-being. However, buying before you’re ready, buying “too much house”, or buying for the wrong reasons can severely derail things.
Deciding to purchase a home is an important, and usually beneficial, step on the road to financial well-being. However, if your reason for home ownership is “I just want to stop wasting money on rent,” then I think it’s important to point out a couple of the aspects of home ownership that you may be overlooking.