How To Get Your Finances Ready to Buy a House

Episode description

Buying a house can be overwhelming. Learn how to get your finances ready for homeownership so your new home is a blessing and not a burden!

Buying a house is a huge personal and financial milestone for many families, but it can also be a stressful and complicated process.

One part of the stress is buying a house that’s affordable. You want to be financially prepared

There’s plenty of advice on buying a house and not all of it is good. Have you heard ‘buy as much house as you afford’? I mean sounds good on paper, but the reality is if someone is telling you that you’re probably pushing your house budget in a direction that could be a huge problem once you sign those papers.

Or how about the suggestion of building your credit by getting a credit card?

I don’t want you to fall into a trap where your finances are so tight that the house you buy makes your miserable.

Today we’re going over some key areas of where you needed to pay attention and prepare your finances so that when you a buy a house, it’s a blessing and not a burden.

Which is why I’m happy to have Steve Stewart on the show today.

In this episode we’re going to look at:

• preparing your finances so you can comfortably buy a house
• the role credit scores play and how to raise it
• building credit without accumulating debt with alternative ways to report credit history to lenders

We have a lot to cover, so let’s get started!

If you’re looking to buy, here are some resources to help you find an affordable place you love!

• Best Budget and Money Apps: Empower, Tiller, Mint
• Grab My Book: Jumpstart Your Marriage and Your Money
• Buying a Home <- Want to save thousands of dollars while buying your dream home? Adam’s course takes you through contemplation to closing
• eCredable
• StellarFi
• ExperianBoost
• How to Snag a Great Deal When Buying a House
• How to Buy a House as You Pursue Financial Independence

If you’d like to chat more your money system, please join us in our private and free Facebook group – Thriving Families. We’re families looking to support and help one another out.

Hope to see you there!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

As a credit union, Coastal serves its members first including an annual loyalty bonus. We've been members for years and love their service and competitive rates on checking and savings accounts!

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Photos by Lukas Hartmann and Daniel Frank