PLAN PLAN PLAN!

Hello beautiful folks! Recently we've been educated tremendously in the area of debt freedom and home ownership at our church. I've received so much vital information that so many people need to know. Getting the inside scoop on how mortgage companies operate and what specific factors are eligible to negotiate when closing on a house has been amazing! Recently we had an event at our church hosted by the young adult ministry which pretty much lifted the veil on the things that mortgage companies don't want you to know. It was great!

With all that being said, I became a home owner of a four bedroom home at the age of 21 years old. And I must say that the maintenance of a home holds a lot of responsibility. I would definitely suggest getting to a certain level of maturity before taking on that level of responsibility. Being put in that position at 21 caused me to grow up REALLY quickly. I was talking to Candice about this yesterday and she said I should share the things I've learned about home ownership.

First of all, a breakdown of the expenses. Before buying a house, it's important to estimate how much your monthly expenses will be. A lot of people get caught up in "How much will the mortgage be?" However, the mortgage is only a portion of your expenses. Everything is dependent on the size of a home, interest rates, year it was built, etc etc etc. AFTER tithing of course, you must also pay property taxes. I pay mine quarterly or twice a year. The land my home is on is two acres so that can be a pretty penny and if you pay late, the penalty fee can be almost half of the total. And if you don't pay within a year or two, you risk having your land/home auctioned off to the highest bidder. Pressure right? lol That's high responsibility but definitely possible with proper planning.

You also have to pay electricity. The bigger the house, the higher the cost.  In urban communities you pay a water bill and trash pickup but I happen to live in the country so FREE WATER for me and I can burn trash or take it to the dump down the road myself. You will need to purchase home insurance which lasts for a year at a time in case of fires, damage from tornadoes and hurricanes, amongst a few other things. I go ahead and pay that bill at the beginning of the year for the entire year. I definitely can't forget that!

A big thing that's also VERY important to remember is maintenance fees. You'll need to take care of your grass by keeping it cut. Of course if you have a lawn mower, you can do it yourself. If you prefer not to like myself, you'll need to hire someone to cut it for you. I have a relative who has his own company so I get him to do mine. Although he cuts me a deal, 2 acres is ALOT of land and can get a little pricey at times.

One of the things I think I was most naive about is the cost of repairs. When you own a home, YOU are responsible for all repairs unlike renting. Heating, air conditioning, water pump, water heater, leaks, cracks, sinks, faucets, washer/dryer, refrigerator etc can at some point need servicing. And more than likely it's unexpected. So planning accordingly will keep you from being in a crisis where something needs to be repaired asap but you are without funds, hence the importance of a budget. But somehow over these last 2 years, I became an expert at home repairs lol Maybe not an EXPERT, but so far I've repaired my refrigerator, washing machine, toilet and a sink (last week) on my OWN. The sink I fixed would've cost at LEAST $200 just to get someone to come out to fix it. Crazy! But I didn't need a repair man whoot whoot!

Now all of that is only expenses for your home. You still have to eat. Everybody eats differently but it's a good idea to plan out how often you plan to grocery shop, how much you plan to spend and also how often you plan to eat out.

And the last thing is your leisure items. Cell phone bill, home phone (if you choose. I personally don't have one anymore, unnecessary for me), cable/Directv bill, internet bill, car note (Unless it's paid off of course. Heyyyyyyyy!), and if you have a car then you NEED car insurance and of course you have to include your cost of gas as well as car maintenance items like tires and oil changes. Although not everyone is a shopaholic, at some point we may choose to buy new clothes, shoes, makeup, etc. And of course sometimes you may want to go bowling, catch a movie, etc. All that needs to be in your budget plan.

Although these aren't necessarily "leisure items" you also have to buy dish detergent, laundry detergent, toilet paper, paper towels, cleaning supplies, light bulbs,  etc and all those other items you will need to re-shelf every so often.

Hopefully I didn't leave anything out. Just wanted to provide a realistic breakdown of what to expect. When God has made the provisions for you to own your own home it is truly a blessing! But make sure you do the proper research and planning, physically AND emotionally. I say emotionally because like I said it's alot of responsibility and if not well prepared emotionally, you can easily feel overwhelmed. I thank God for wisdom and understanding provided to me by the holy spirit because I had no idea what I was doing and I'm still learning on a daily basis. But when I do get my dream home, I'll already have the necessary knowledge to maintain it. So it's truly been a blessing to me.

I've learned so much and although it hasn't been the easiest thing, I'm SOOOO grateful for the lessons that home ownership has taught me. God desires us to OWN and not owe man anything so if your dream is to own a home, prepare, prepare, prepare. Cut back on eating out as often and shopping as much, and get into good habits of saving. Also get into the habits of paying bills on time. One thing I know is that procrastination can be tragic as a homeowner. You have to be on top of your bills or your bills will be on top of you! Dreams are meant to be lived and it's possible, no matter your age especially if you're in a debt free state of mind. Whoot whoot! #mtgdebtfree #endzone Just make sure you plan plan plan!