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Don't Max Out on That Home Loan

By
Real Estate Agent with Robin Scott, REALTOR® 467100

In the book Stop Acting Rich. . .And Start Living Like a Millionaire by Thomas Stanley, Ph.D. there are some interesting statistics about the price range value of homes in which millionaires reside.

403,211 millionaires live in homes valued at $1 million or more.

1,138,070 millionaires live in homes values at $300,000 or less! 90% of millionaires live in homes valued at $1 million or less. Did you read The Millionaire Next Door , a book about how the average family next-door is often a millionaire who has managed their money well and not spent it all on consumables.

As I advise my clients - don't buy the top dollar you can be approved for. When buying a home, it's a good idea to save something for other things in your life like home maintenance, vacations, education and unexpected circumstances. You'll feel less pressure when you have something left over at the end of the month or if your financial situation changes.

When you decide on what size home you want, keep in mind that a larger home requires a higher utility bills and higher costs in maintenance, home improvement and product replacement because of the extra size.

Happy house hunting and if you are in the Austin area, I'd love to help you find a home. Give me a call.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist.  Amelia Bullock Realtors. 512.589.7988.

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I want to be your REALTOR. If you are thinking of selling a house, give me a call. I'm happy to answer any questions you may have about the seller's disclosure or other matters involving selling a home. 512. 589.7988.

 

If you are interested in finding out more about Austin, living in Austin, real estate or buying or selling a home in Austin, I want to be your REALTOR. And I appreciate your referrals as well. Call or email to find out how I can help you. 512.589.7988 or robin@robinscottrealtor.com

 

Austin, Texas Homes for Sale. Robin Scott, BROKER Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

 

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Comments (1)

Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Robin, I'm hoping that's a "recommended read" from you.  I hadn't heard of that before but I will check it out.  Thanks!

Dec 16, 2009 07:31 AM