“My wish list is,” Says a niave newly married wife to seasoned real estate agent. “ A two story home on land with five bedrooms and three bath rooms and a gourmet kitchen with stainless steel appliances and granite counter tops for baking.”
The real estate agent keeps cool and collected, but thinking “A Property Virgin this should be fun!”
“A finished basement with its own bathroom, at least two-car garages,” the husband replies. “It has to be close to town and short commute to work! I am concern about budget, I don’t want to go over it and it can’t be a short sale.”
By the end of the HGTV’s reality show, the pair begins to rationalize the decision to forgo the original budget and instead choose to take a higher mortgage. Living in the now and not the future, the biggest error one young couple could make could cost them their happiness in the future. Now they have signed up for 30 years of slavery to a banking institution who sees them as a number and not a human being.
Like most mortgagee’s, the couple’s livelihood could be challenge by a bit of bad luck if either the husband or wife should suffer a life changing illness like a car accident or perhaps loose a job. This scenario can happen more times than not, and that is why I wonder why the reality show as I described above does not deal with that type of reality.
Pondering over that dilemma, the past several days has left me with a lot to think about in my own life and the decisions that my husband and I made when we first bought our home over a decade ago. Several issues sprung up in my head, we were very naïve, for instance living beyond our means. Moreover, we wanted a second garage for my husband’s race car and to finance that project we took out a second loan. Ironically, no one was there to warn us that we set ourselves up for failure; in comparison to the reality show of the naïve couple, the same is true.
SO what is the point that I am trying to make you ask? Well there are several points, as consumers we should be advocates for ourselves and get educated on finances for the “what if’s” scenarios. Secondly, always follow your intuition, remember the husband did not want to go over budget but his heart led him on the wrong path of higher debt. Lastly, a home is where the heart is, without your love ones and sanity it just becomes your prison. In my own life, I have been the naïve one, now I want to be the smart one and share with others our story so that they do not make the same mistakes my husband and I made.
The home of today is full of material things, whatever happened to the simple home with basic things to keep the home fires burning? Should we look to the older generations for guidance when it comes to living a simpler life? In my opinion, less is more!