Can You Really Afford A House In This Economy?

Are you dreaming of owning your own home but wondering, "How much home can I afford?" You're not alone! In today's economy, buying a house can feel overwhelming, but it's definitely within reach with the right strategies. In this video, we'll discuss the essentials of frugal living and saving money to help you achieve your homeownership goals.

We'll start by breaking down the critical budgeting and personal finance steps that will get you on the right track. From setting realistic savings goals to managing daily frugal habits, we'll cover all the money-saving tips you need to build a solid foundation for your future home purchase.

You'll learn how to create a budget that works for you, how to prioritize your spending, and the best ways to save money every day. We'll also discuss the importance of understanding your financial limits and making informed decisions about how much home you can truly afford.

Whether you're just starting your journey or already saving for that down payment, this video is packed with practical advice to keep you motivated and on track. Embracing a frugal lifestyle doesn't mean sacrificing joy or comfort; it's about making smart choices that lead to long-term financial stability.

Join me as we explore the ins and outs of buying a house and discover how adopting simple, daily, frugal habits can make a huge difference. Together, we'll navigate the world of personal finance and budgeting, empowering you to make your dream of homeownership a reality.
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Check out the frugal home goods and books to save you money!

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I’m so very happy to have you here. We are all about saving money at Frozen Pennies. Whether you have a goal like debt freedom, purchasing a home, retiring, or just making ends meet, we are all about making that happen. Here you’ll find tips on saving money on groceries, ways to tweak your budget, and living an overall frugal life (all while having more fun)! Thank you for supporting my channel.

About Sara:
Sara is a wife, mother, and creator of Frozen Pennies. With a degree in English, a former teacher, and a Certified Financial Coach, there is no better place to learn about debt freedom, budgeting, and overall frugal living.

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DISCLAIMERS:

- Links included in this description might be affiliate links. I may receive a small commission if you purchase a product or service with the links I provide at no additional charge to you.
- Information on this channel (Sara Conklin, Frozen Pennies) only represents my thoughts and opinions. I am not a medical doctor, medical professional, or financial advisor. However, I am a certified financial coach. All content on this channel is intended for entertainment, informational & inspirational purposes only. Don't hesitate to contact a professional with any questions. This video and all videos on this channel are a means of social support.

[LaundryFaerie]

I am in my 50s, and it took my mother's death and the sale of our family home for us to finally be able to afford a down payment on a house. That shouldn't be happening.

[crazyauntshan]

Ugh. I feel so stuck. Even the old houses in not great neighborhoods are way more than I can afford. It's crazy. I'm living with family in order to save but it seems so overwhelming

[sarashann]

The houses are too big. People used to live in fewer sq ft. Kids shared rooms. People had roommates as a way to keep expenses affordable while they saved up for a down payment.

[flohough]

I don't know what it's like in your area, but I know there are a lot of places where it's actually more affordable to buy than it is to rent. Rent prices are through the roof. However, that's a double edged sword too, you might not be able to save for a house if your rent is ridiculous. Lots of great advice in this video.

[ThePantherproof]

As the old mantra goes, "location location location." If you no longer need good schools, don't pay to live in a highly rated school district.

[bonniedurie]

Great ideas! I would add that a buyer should always have an home inspection. Our current home inspection showed 94 things wrong.. Most were minor. We were glad that we knew what we were getting into.

[theresahanson-rfid]

Yeah I’m never going to be able to afford a home at age 55. Divorced last year and ex drained cash and spent on people and himself not his children nor I.
Anyways so I have no down payment and rent is sky high and will need to get a second job
I live with no car payment but it’s 10 years old. I live in a cheaper rental and it’s nasty. I thrift and have always lived on a budget. Always appreciate watching your videos

[loriloristuff]

My husband was never good with tools. I, however, am pretty handy, and I made sure our kids could do repairs, both boys and girls. The GIRLS have helped replace a whole toilet. My son is a plumber. They all learned to properly paint walls, cabinets, etc.

[marleneflourentzou]

Even in Europe, where I live, house prices have increased exponentially. It might be a better idea to purchase a smaller apartment, rather a smaller place than having nothing.
If you buy a smaller apartment, you might be able to purchase another one later on and rent it out.

[susanparker]

We are 65 and still have a mortgage. We will be selling our home in Colorado because insurance and taxes have kept our payments (even with extra added) in a stalemate. We would love to stay in Colorado close to kids and grandkids but it is not feasible on SSI!

[Dimeintharuff]

I'm a realtor here...as of Augsut 17th the seller is no longer requird to pay buyers fees. Look up the lawsuit National Association of Realtors. you may need to edit this video.

[kathyb]

Really love your new hair cut.I live in low income housing. Hope nothing changes. Living on social security and small income job.

[sallyprzybil]

Actually there are certain areas where housing costs are lower. Unfortunately, those houses are in areas where there aren’t many jobs, so those houses don’t sell.

[noonespecial]

We felt this was coming and so years ago we got property with a small home and our kid is not planning to leave and if necessary will do a tiny house. We knew that the typical “American dream” wouldn’t last. It didn’t look sustainable.
Husband and I watched our parents and knew we needed to do something different.
Honestly you need to own outright unless you can handle a house payment and possible huge upswings in insurance and taxes.

[fredswartley]

Great tips! I'm 37 and thinking about buying a house in the next few years. I'm trying to save money and prepare myself for this venture. Housing is very expensive right now but following the tips you suggested can make it more affordable.

[gmklxym]

Dont forget insurance council fees maintenance mortgage and onto living expenses

[Larissa-iwwy]

So many of your tips are what we did when we bought years ago. Unfortunately, we will not be able to age in place due to it being a 2 storey home but will stay as long as possible. Definitely did the older, fixer upper with plenty of sweat equity. Slow and steady got us to a good place eventually and will hopefully offer a stable situation for many years to come

[margiesoapyhairbillian]

Or selling things you buy at thrift shops / yard sales. And yes! Get a side hustle 💪

[wendyw]

We bought a repossessed house in 1990. It needed some work, but it was in a good school district and was the right size. We got the house for LESS than its assessed value and over the years it's value has soared. It's now worth 5 times what we paid for it.

[FIRE_DrNinjaTurtle]

I am glad that I bought in 2021. I add to my payment so that my mortgage interest is 0%.