I’m 30 years old and Barry is 31. Our first child is 3. We live totally debt free and just purchased a new home with…CASH. Before you start thinking that we’re one of “the lucky ones” or that we make a bunch of money, let me tell you something – I’m a stay-at-home mom and my husband is the sole breadwinner. We did not inherit a bunch of money – we worked our tails off.
Am I bragging? Heavens no! It’s through the grace of God and by living according to what His word says about debt that we’ve been able to accomplish this. We live on a budget and we buy used and save the difference.
Why am I telling you all of this? To encourage you. To let you know it IS possible to “live the dream.” It IS possible to buy a home debt free. It’s not just for rich people…it’s for normal people. People like you and me. This is our story. This is how we bought a home debt free. And we had you in mind the whole time.
In January of this year, we put our house up for sale. It sold in three weeks. That was 100% with God’s help. Our buyer found our house by using the eBay Classifieds and she asked to buy it the first time she came to look. By the time we got done working with a terrible bank, it was the end of February. We didn’t have anywhere to go.
With cash in hand, we were ready to buy a home…but we hadn’t found one we liked yet. Here is where your situation might differ – we were able to move in and live with my parents. You might not have that option – if we hadn’t, we would have found the cheapest safe rental we could and holed up there for a while. All this time, we were still saving every little bit of money that we can.
Then, a house we had been looking at became available. The contract was broken when the lady backed out because the heat pump didn’t work. We put in an offer and got the house. Again, 100% God…we paid $93,500 in cash for the house – a foreclosure.
So, what am I telling you? Plan ahead…dream BIG. And then be smart. Like most, when we were first married, we didn’t have the ability to pay cash for a house. So, we bought a modest townhouse and worked our butts off to pay it off in 7 ½ years – so our next house would be debt free.
So, here’s Stacy’s advice…and it’s worth what you pay for it.
Buy a modest home at first and work like CRAZY to pay it off.
Live there for a while and save up like CRAZY to get a good amount of cash for buying a home.
Sell your home – by owner if you desire and if you know how, in order to keep more cash in your pocket.
Find somewhere to live – with relatives, in a cheap rental, or in a van down by the river.
Look for a foreclosure or someone desperate to sell.
Make sure at all times you’re saying that you have CASH – which is a huge motivator.
Buy your home. And if it needs fixing, like ours, then fix it up as you have the cash.
Sit back, and enjoy mowing the yard in a house you actually OWN.
We hope this is an encouragement to you. We’re just normal people who didn’t buy into the lie that says you MUST live with debt…because it’s not true. Not at all.
Live debt free y’all.