Who is really getting the steal in the deal?

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Who is really getting the steal in the deal is the question you should be asking yourself when considering home ownership. Ownership has its perks but its not exactly what you imagine when you day dream about it. Owning a home is great for people who are looking to start a family and want to settle down and plant some roots. However everything comes at a cost. What are you looking to spend and what can you get with what you have? Will you be able to find everything you desire and what if anything will you have or be willing to compromise on? Location plays a huge part in decision making. If you are going to spend upwards of $50k minimum for a place choose wisely. This will be a long term investment and you need to not only have your needs met but you need to find a small amount of emotional reward from it as well. Yes you will have a place that is your's no more asking permission when deciding on interior design or if you are going to have someone come for an extended stay. Yes to the pets but remember you have to take the good with the bad. Along with that freedom of creative decision making that comes with ownership also comes the headaches of the financial burdens of repairs or cost of regular maintenance. Fire place needs regular maintenance, Septic tanks need emptying periodically, roofs/ gutters need cleaning,lawns maintained, pest control etc. When you factor those things in the numbers grow exponentially. Consider everything before assuming its a steal for you. A list will be helpful and these are some things you might want to ask and answer to help decide. Is it a home and land package deal? Where is it located(Property Value)? Is this a Good neighborhood low crime rate fairly conveniently located enough to have decent amount of privacy? Size of home on the property as well as the condition of it.Is it a fixer upper or is it a money pit? What needs to be done immediately? What will it cost me? Will the value of my investment increase or decrease over time? If I purchase this after factoring in the numbers will I be able to live comfortably and be happy as well as healthy? If you are buying a home and you work to pay for it and do nothing but spend the money just to keep it livable and you do nothing but work and come home to make repairs which is more work it will not be a good decision. Which in a situation as such you wouldn't be a steal for you. It would be like buying a lemon which will leave a sour taste behind. Buying a home is a big commitment make sure that before you even begin the process that you have a portion of the emergency repair cost already saved. These funds should be extra in your budget not counting your down payment or other moving expenses.