- Money Saving Mom® - http://moneysavingmom.com -

How We Paid Cash for Our First Home


I’m honored to be guest posting over on Get Rich Slowly [2] today about How We Paid Cash for Our First Home [2]. Here’s a snippet:

When my husband and I got married nine years ago, we had an audacious dream of paying cash for our first home. At that time, it was very much a far-off dream — we were just trying to survive the rigors and expenses of law school without going in debt. That alone was a seemingly gigantic feat.

But after three years of law school, my husband did graduate without debt, passed the bar, and we started planning for the future. Since we’d been renting for almost four years, my husband had a good job, and our second baby was on the way, pretty much everyone expected that buying a house would be in our immediate future.

I mean, after all, isn’t buying a house the responsible thing for a young couple to do? Well, maybe — or maybe not. We didn’t have much money in savings, and we weren’t sure how long we would be living in the town we were in, so we chose to go against conventional wisdom and continued renting.

Read the whole post. [2]

There are lots of interesting comments in the comments section on the pros and cons of renting versus buying and mortgages versus cash that you might want to check out, as well. As I’ve mentioned many times before, remember that what worked for us won’t necessarily work for you in your own unique situation, but we hope that our story can serve as an inspiration for you to set big goals and work hard toward them.

Perseverance, persistence, and patience does pay off!

photo credit [3]