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Sacrifices required to be a homeowner

Real Estate Broker/Owner with Turn Key Real Estate 31RA0874656

The $64,000 question is what are you willing to do to make that goal come to fruition? How can you save more money regularly to make your dream of homeownership come true?  The name of the game is called “Sacrifice.”

Think of whatever other activities you can do to squirrel away your money for your down payment.  So many of us are spoiled with conspicuous consumption as this is, unfortunately, what our economy is based on and dependent upon.

Games on a hand-held device or computer for the children will go a long way toward keeping them occupied.  However, the games my children played way back when they were growing up were Candyland, Battle Ship, Monopoly, and Scrabble.

Before computers and computer games, having fun with Hide and Seek, tag, duck, goose, hopscotch, baseball, football and street hockey was the norm.  Being outdoors and playing these games and activities kept our children healthier and in a much better and more positive mindset from what we are experiencing today.  They even used my pogo stick (do you know what that is?)  that I was given more than 25 years before.

There are so many alternatives to spending money that are free and cost you nothing, with time that is well spent with your family or significant other in strengthening your bonds.

We have been deficient in our social connections since the COVID-19 pandemic, which has caused major problems.  Depression and suicides have increased dramatically, far beyond what would be considered normal, especially among our teens.

These sad situations show that we need more involvement in personal connections than ever before.  Indirectly, sacrificing money spent over time, doing less costly things  will help in your purchasing goal.  Whether it is a house, HOA, condo, or coop, homeownership is within reach if you need and want it badly enough.

So, ask yourself, how badly do you want it?  Over the last 11 years, multitudes of people have left NYS for other states as another way to afford a home or greater opportunities. My webmaster left a few years ago, relocating to North Carolina as he could live anywhere being self-employed.

But another consideration is starting a side hustle to earn additional income or a second or third part-time/full-time job that will add to your savings for that elusive but attainable dream of homeownership.

It is easy to complain about the high interest rates and prices, but that doesn’t solve your issue of how to succeed in purchasing a home here in Long Island or elsewhere.  Today, you may be experiencing unfortunate circumstances as your grumble and moan about your plight while trying to figure out what to do about your predicament.

Most don’t like to be in what I call the “uncomfortable zone,” because it isn’t a safe and easy place to be.  However, it is where effort, discipline and sacrifice are required to be successful.

Recently, I saw and heard a clip on Instagram by actor George Clooney, and he said, and I quote, “I never learned anything from my successes but learned everything from my failures.”  This is where the biggest strides can be made.  It isn’t a popular place that people seek or learn from, but it is where your greatest future improvements and successes can be made.

You have to ask yourself one question: “How bad do I want to be a homeowner?”   Am I willing to sacrifice my time and provide the effort and discipline to do what needs to be done to gain that American Dream of homeownership?

I know what I had to do back then, but that isn’t relevant to anyone else.  You have to look in the mirror and ask yourself what am I willing to do to get where I want and need to be in the homeownership game?

Some will stay here and have a positive outcome, while others will decide to go to other states for an easier way of life, but the choice is yours.  However, irreparable harm to NYS will occur with the continued brain drain and loss of our population.

Posted by


Philip A. Raices, Pres/CEO, 

Graduate Realtor Institute

(What I consider a Masters Degree in Real Estate)
C.I.P.S. (Certified International Property Specialist)
The National Association of Realtors "Green" designation
(Certified in Eco-Friendly Low Carbon Footprint Construction/3-D Printed Foundations/Geo-Thermal HVAC/Solar Panels/Heat Pumps)

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We truly and thoroughly enjoy doing business with Matrimonial/Divorce Attorneys as we assist them in helping their clients with the challenging, tumultuous, and stressful process of navigating and guiding them through the potential sale (or showing how the wife or husband) can potentially keep and stay in the home.  If allowed, we will hold their hand(s) and build rapport and a relationship with either 1 or both parties as we traverse through the selling process.  We are also in Part 36 of the NYS Court system in helping those attorneys who need a Professional, Expert, and Qualified Broker with their indigent, disabled, or clients who have passed away with the sale of their properties.
If you know of anyone who might be considering selling, investing, purchasing, renting, or leasing any type of residential or commercial property, locally, the 5 Boroughs of NYC, Upstate, around the U.S.A., or Internationally, that isn't already listed with a Broker, consider me your go-to guy!
"How to Prepare Your Home Before It Goes On The Market" Q & A   Audio by Philip A. Raices for the Multiple Listing Service of Long Island W/Trisha Chirco (MLSLI.COM)

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Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Jun 02, 2024 04:06 AM
Philip A. Raices

Hey Richard, GM and thanks for your compliment and you have a super day too!


Jun 02, 2024 08:10 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Philip A. Raices ,

What a powerful post! So glad to see it featured. You are right to become a homeowner it can definitely mean you need to make some sacrifices, it's up to us. Are we just looking for instant gratification or long term financial success.

Jun 02, 2024 04:58 AM
Philip A. Raices

Hi Dorie, thanks for your accolade.  I believe so many want instant gratification.  Sacrifice is an unknown commodity and one that most cannot grapple with and blame inflation, prices and everything other excuse.  But the realization is that it is a very challenging and tumultuous market and one needs to do whatever is necessary if they want to be a homeowner and build their future wealth; or figure another more secure way than homeownership to accomplish it.

Jun 02, 2024 08:14 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

More people should have Monthly Budgets . You might have to say goodbye to M-F Starbucks Mornings ! …..

Jun 02, 2024 05:55 AM
Philip A. Raices

GM Michael, Starbucks is just the tip of the iceberg, when it comes to sacrifice.  I firmly believe, since the handouts of the Covid-19 Pandemic, that so many have resigned to become lazy and expect way too much, especially from our gov't.  The effort, discipline and perserverence is seriously lacking in our society.  One must do what they must do.  The bottom line is we will have a lot more poor people over the next 10-20 years, do to lack of savings and building future wealth.  Too many are depending on social "insecurity" Security for their retirement; and that is why our savings rate is the lowest compared to countries that do not provide social security where the savings rate is considerably higher.  Many are in very deep financial trouble and it will continue to worsen, unless they wake up and smell the coffee!

Jun 02, 2024 08:21 AM
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

I am convinced that if many folks tracked their spending for  30 days, they would be amazed at how much they spend on things they could actually do without.  Great post!

Jun 02, 2024 08:03 AM
Philip A. Raices

Hi Shirley, you are right.  But the ironic thing is that maybe 5% of the people would have enough discipline, perserverence and sacrificing their time to care enough to even track their spending let alone plan to change their spending habits.  One of the consumer's biggest problems was the invention of the credit card and credit which fuels 70% of consumer spending that fortunately and unfortunately for  many are addicted to the plastic as well as their mobile devices!

Jun 02, 2024 02:55 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Philip and thank you for sharing this great blog with us here in the Rain.  Have a great Sunday!

Jun 02, 2024 09:18 AM
Philip A. Raices

Hey Will, thanks!

Jun 02, 2024 02:50 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Phillip - real estate attracts all sorts of people to participate.  This includes those who do it successfully (and often over and over) as well as others who remain on the sideline for any number of reasons.  It's a big world - it can be confusing at times.  Practitioners who understand this continue to make things happen.  

Jun 02, 2024 09:36 AM
Philip A. Raices

Hey Michael, I believe your comment was for my column "staying in touch."  The column here is about sacrificing and the "creature comforts" to saving for a home.

Jun 02, 2024 03:00 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Phillip. At the end of the day, anything worth having requires a certain amount of work and sacrifice... homeownership is no different. And people do appreciate whatever they do have more when they have skin in the game.

Jun 03, 2024 04:08 AM
Philip A. Raices

Good afternoon Nina,  Unfortunately, it's the immediate gratification syndrome that so many millennials, Genz and Genx are practicing.  I think they feel with all their debt, they'll never be able to afford a home.  I believe this to be true with the actions of racking up all their continued debt on their credit cards and going bankrupt.  However, I do not think that they can't discharge their student loans.  As they say, "biting the bullet" sacrificing and doing what has to be done, persevering, and never giving up is the name of the game, and so many just don't get it, they are clueless! 

Jun 11, 2024 02:59 PM
Fred Sweezer Sr. CMI, LLC.
Hud Certified 203K Consultant - Long Beach, CA
HUD 203k Consultant

Well said and the scope of motivation detailed in your post, thanks!

Jun 03, 2024 08:09 PM
Philip A. Raices

Hey Fred, appreciate your compliment!  Read the reply to Nina as that really and truly sums it all up.  The U.S. and a good portion of our citizens, millennials, GenZ, and Gen X are in deep poop!

Jun 11, 2024 03:00 PM
John Juarez
The Medford Real Estate Team - Fremont, CA

Very inspirational, Philip. 

While amassing a down payment can be difficult, the end goal of home ownership is so worth it.

Jun 05, 2024 07:42 AM
Philip A. Raices

Hey John, that may be true, but read my response to Nina Hollander as that sums it all up in a nut shell.

Jun 11, 2024 03:01 PM