House Archives - Making Sense Of Cents

How To Save For A House – 8 Tips To Help You Save

Last Updated: June 8, 2021 BY Michelle Schroeder-Gardner - 2 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Are you thinking about buying a home? If so, then you’re probably wondering how to save for a house.

After all, the price of a home is most likely the largest amount of money that you will ever spend.

The median U.S. home value is $266,222, according to Zillow. And, there are some areas that have much higher average home prices, like four to five times more. For example, in Los Angeles, the typical home price jumps to $804,452.

The first part of saving for a house is the down payment.

But, when you’re figuring out how much to save for a house, you also need to think about incidental costs, like moving expenses, closing costs, things you need for your new home, and more.

Due to this, you’ll most likely have to save a large amount of money. And, you’re probably wondering how you’re going to do that.

To help you learn how to save money for a house, this article will first explain how to figure out the amount of money you need to save. Like I said, there’s more than just the down payment.

Plus, the amount of money you save for your down payment has a major impact on your monthly mortgage payments. This is why it’s so important to learn how to save for a house now. [Read more…]

Is it cheaper to buy eggs or raise chickens?

Last Updated: November 8, 2020 BY Michelle Schroeder-Gardner - 4 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Hello! Today, I have a great article to share about raising backyard chickens for eggs, and how much it will cost you to raise chickens. I have several different family members who raise chickens for eggs, so I am familiar with the topic. When Chris approached me with the guest post idea, I had to say yes because I thought it would be interesting to learn more about the money side of it. Enjoy!

Like many, I didn’t decide to start raising chickens with a spreadsheet in front of me.

I had just returned from visiting my parents’ new retirement project, a hobby farm in northern Vermont that was bustling with chickens and ducks and all sorts of wonderful, useful livestock I had never considered keeping for myself until that moment.

After all, I grew up in the suburbs, full of cats, dogs, and the snake the “weird kid” in middle school loved to talk about, and the only “livestock” were the cows that were shipped in every summer to picturesquely dot the fields behind the local ice cream place – carefully kept too far away from customers to smell.

I was thinking about delicious, farm-fresh eggs; endless access to high-quality fertilizer and pest controls; taking control of where my food came from and developing a healthier, organic diet; and of course, just the joys of animal ownership. [Read more…]

Learn how to downsize your home, stress free!

Last Updated: December 17, 2020 BY Michelle Schroeder-Gardner - 11 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Want to learn how to downsize your home? Here’s a downsizing home checklist so that you can downsize and declutter.

Are you ready for something simpler or smaller and wanting to know how to downsize your home? It can be big process and less and less people seem to be doing it these days.

The average home size in 1950 was less than 1,000 square feet. Fast forward to 2017, the average home size has increased to nearly 2,600 square feet, according to the U.S. Census Bureau.

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When we did live in a “normal” home, it was fairly close to that average home size. The house we owned in the St. Louis, Missouri area was around 2,500 square feet if you included our finished basement, and it was just for myself, my husband, and our two dogs. [Read more…]

Smaller Can Be Better- Maximize Your Savings With A Small House

Last Updated: July 14, 2020 BY Michelle Schroeder-Gardner - 33 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Hi, I’m Ariel, Michelle’s sister-in-law and editor. I’ve been editing and learning from Michelle’s blog for over two years now, and if you’ve read any of the posts I’ve written for Michelle, you know I’m conscious about my savings and spending. I have a degree in English Literature, and I make a living as an editor, preschool teacher, and knitting instructor.

My husband and I were recently faced with the reality that we would have to find a new house and move. I’m not going to spend too much time on specifics, but it has to do with a retail development going smack dab on top of us.

We were only 19 and 20 years old when we bought our house and had very limited buying power. With what felt like nonexistent options, we fell in love the minute we walked into our little 900 sq ft. brick bungalow. It was the dreamhouse we never knew we wanted, and we were pretty certain we would never leave. [Read more…]

How I Paid Off My $400,000 Mortgage In 7.5 Years, Before I Was 32

Last Updated: June 20, 2021 BY Michelle Schroeder-Gardner - 56 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Today, I have a great article from a reader, Rob from Mustard Seed Money. Rob was able to pay off his $400,000 mortgage in just 7.5 years, all before he was 32 years old. Below is his story, enjoy!

I was one of those weird kids that couldn’t wait to graduate from college. I’ve always had a long-term focus and viewed college as a stepping stone. One day during my freshman year, I remember walking to class with a friend saying that I couldn’t wait to graduate and start making some money.

My friend turned to me with an incredulous look and confessed he planned to live it up while he could.

Needless to say, I probably didn’t enjoy college as much as others did.

I had too strong of a focus on life after college to ensure that I’d reach the life goals that I had set up for myself. I wanted to obtain a good job, get married, buy a house and fill it up with some kiddos.

Of course, what actually ended up happening did not follow the order that I had envisioned. But, I can honestly say I love the way things turned out. [Read more…]

20 Ways I Saved a 20% Deposit To Purchase My First Investment Property At 20

Last Updated: March 29, 2021 BY Michelle Schroeder-Gardner - 34 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Michelle’s quick note: Today, I have a great blog post on how to save money for a large deposit from Rachael, who is a long-time reader of Making Sense of Cents. Rachael purchased her first investment property at the age of 20 by saving for a deposit and found many great ways to save for the 20% deposit. Below is her blog post. Enjoy!

I bought my first investment property with a 20% deposit when I was 20 years old (admittedly I was 2 weeks shy of turning 21!). I accomplished saving for a deposit with my own money, my parents never gave me a cent. So how did I do it?

1. The first thing I did was start applying for jobs as soon as I turned old enough to get a job. I started working when I was 15 as a checkout chick at Woolworths. Not very glamorous, a bit boring and repetitive but I was earning money! I worked about 10 hours a week during my last 2 years of high school, and worked around 20 hours per week during the school holidays. I worked at Woolworths for 3 and a half years and saved a good chunk of the money I earned.

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2. When I worked during high school the only time I would ever say no to a shift is if I was sick or had an exam the next day. It didn’t matter if I didn’t want to go to work (does anyone ever actually want to go to work?) I hated that job but I wanted a property so I went to work. [Read more…]

6 Important Questions To Ask Yourself Before Buying A Home

Last Updated: July 29, 2019 BY Michelle Schroeder-Gardner - 50 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

The spring and summer months are usually the most popular months for buying a house. And, buying a house is probably the largest purchase a person will ever make.

According to Zillow, the median U.S. home value is $195,300 and the median price of homes currently listed is $234,900.

Nearly everyone says that a house is a good investment. Many people will even go as far to say that doing anything other than owning a house would be a complete waste of money.

However, I don’t agree with that at all.

Buying a house isn’t for everyone. You shouldn’t jump at the opportunity to buy a house, especially any ol’ house. And, you should think about all of the factors before deciding that buying a house is the best and only decision for you.

Deciding to buy a house is a huge commitment, and problems may arise if you don’t fully think about how this big purchase will affect your life.

There are many questions to ask yourself before you buy a house, and not everyone will have the same answers. This is why it’s important to analyze your situation first.

Whether you are a first time home buyer or if this is your second or third house (or more!), you should still ask yourself these questions. [Read more…]