Buying a house is a stressful experience, especially in the current market where low supply and high demand have pushed prices up and up. Naturally, house shoppers worry about overpaying for a house, or whether they've overpaid for a house they've already bought. We'd all like to perfectly time the market and buy at the lowest possible point, but it's very difficult to do.
Jesse reminds house shoppers to check in with their reasons for owning a house before they worry. Is your house a real estate investment that you are buying with an exit strategy? Then purchase price is very important, and you should be worried about overpaying!
But are you buying a house to be your home? In that case, it's not an investment, it's the place where you live, and the purchase price only matters insofar as it fits your budget. If you value the lifestyle that a house offers, and that house fits your budget, then don't sweat whether you have overpaid or not. You are giving your house dollars the job of securing housing that fits your needs.
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A Quote from F.W. Boreham
Ask Jesse: Selling a Rental Property, Buying a Car, and Pausing Retirement to Save?
Giving the Old Bird to Money
It Has Nothing, and Everything, to Do with Spending
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Building Habits: Four of Them, Actually
BONUS: Goodbye Mint, Hello YNAB
Joy Is a Three
It's You All the Way Down
Ask Jesse: Airlines are Banks, Better Money Habits, and Fast Talking
Ask Jesse: Credit Card Rebels, Banks, and Emergency Funds
Guilty on All Counts
Shift Your Spending Into High Gear
Ask Jesse: ...And Done!
Ask Jesse: We're Getting There People!
Ask Jesse: Still Catching Up
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