Over the weekend, I caught part of the Suze Orman Show, where she was taking calls about 1st time homeownership. Actually, I think it was a show of "calls you never heard." I didn't learn much new, but it was still kinda interesting. One caller, a college student, was receiving strong encouragement from her father to buy a home ASAP. The father, age 50, had just bought his first home just a year and a half ago, and wished he done it sooner. Suze asked the daughter what SHE wanted to do, and she basically said she didn't know what she wanted to do yet. The gist of the advice was that the college senior still has plenty of time, especially if she's not sure where she will live and work after graduation. It's a huge financial investment, and she'll have plenty on her plate with setting up her first apartment.
I've decided to try to write an essay about what I want to be a homeonwer, and enter it in a contest called The Great American Homeowner Challenge, sponsored by Wells Fargo and finishrich.com. The 350-word essay is due by Dec. 31, and I need to write about what I want to be a homeowner. I can list good reasons for buying my first home, but want to come up with a creative essay. I don't want to get my hopes up about winning (i.e. the lottery), but I think that working on this essat will help me work through my "deep-down" reasons for wanting to own a home, and that will help me with the sacrifices that I'll need to make to get there.
Last week I set up auomatic transfers for my downpayment account and my emergency fund. Felt good getting that crossed off my list.
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