Post # 1
My husband and I have owned a home for several years and decided now would be a good time to buy a second property and rent it out! We’ve been looking for a couple months and finally decided on a new build about a 15 minute drive from our house. It will be done in June, so about 3 months from now.
It is a bit scary to get married, buy a new car, and own 2 homes within 6 months though…so I’m curious…has anyone else been in a similar situation? Has it caused any extra stress?
Post # 3
Somewhat similar– my husband and I got married during spring break of our senior year of college. We bought our first home two months later. In the two years since then, we’ve “flipped” and sold two and just bought a new one. We were lucky that we didn’t need a mortgage for any of them– we used savings to pay cash for all of the houses.
Still, money can be a huge stressor! I think the best thing we did to handle the stress was to budget and stick to it. We were also very honest with our spending and completely combined finances. Our first house stretched us REALLY thin, like eating Ramen Noodles every night and not leaving the house ever thin (and keeping the heat at 58 degrees in the winter lol). But, we accomplished a goal together through lots of planning and budgeting. Now that we’re on our third house, we definitely don’t have money issues anymore, but the budgeting techniques and honesty that we learned from our “poor” time still help us make better decisions!
Just my personal experience, everyone approaches money differently 🙂
Post # 4
We bought an investment property young, and it has been overwhelmingly good! We have been able to live off of the rent money , which was great during college and now newlywedness 😉
It can be daunting at times like as if something breaks, and also double your tax bills, ins etc. Its like double the fun! lol
Best of luck! Can’t wait to hear more or see some pics !
Post # 5
Choosing a new build will certainly cut the risk that you will need to do repairs in the near future. You may have to landscape the yard though.
Post # 5
Our first house became a rental property. It is tough having a rental property that you don’t live near.