Preparing for Homeownership - Step Seven

Realizing The Dream

For most of us, buying a house is probably the largest single investment we’ll ever make. This is why careful planning is so critical. While it is important to develop and adhere to a monthly budget once you own a home, it is also important that you have a budget now, no matter what your housing situation may be. Developing and working within a budget is a smart strategy for every responsible adult. It is important to prove to yourself and others that you have the self-discipline to pay your bills on time, limit your discretionary spending and impulse buying, and save a portion of your income. An additional benefit is the peace of mind you’ll gain knowing that you’re building a good credit history and that you’re at least somewhat prepared for some of life’s little emergencies. If you choose to follow the advice provided in this workbook, you will be able to handle the challenges that come with homeownership. And while it may be a new challenge to take on monthly mortgage payments, in the long run, you will enjoy the equity, comfort, and pride that homeownership offers. Enjoy and Welcome Home!