Ecclesiastes 10:18
Because of sloth the building decays,
and through indolence the house leaks.
Your house is an investment. During COVID, there was a price boom that hasn’t settled. The interest rates were raised to cut demand. There is an expected increase in supply by 2030 titled the “silver tsunami” as baby boomers leave their homes. In today’s housing market, people are considering buying homes with a friend, colleague, or even family members. Nearly 15% of Americans have co-purchased already, while nearly 48% would consider it. This statistic of those that would consider buying a house with a friend grows to 70% if one looks solely at Generation Z.
There are many tips and tricks on the internet for those looking to buy a house. Some believe that you should not pay for a house that is 3x your income. When applying for a mortgage, the debt-to-income ratio plays a vital role too. Typically, lenders want your debt-to-income ratio to be 45%. That means when you total up all your debts (car payments, student loans, credit card payments, etc) they can only be 45% of your income. That means that if you have no debt, 45% of your total income can go towards a mortgage, resulting in more buying power for a house.
Here are some steps for buying a home from U.S. Department of Housing and Urban Development:
1. Figure out how much you can afford
2. Know your rights
3. Shop for a loan
4. Learn about homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowners insurance
9. Sign papers
Despite having a home already, looking for a home, renting, or living in your parent’s basement, in my opinion, God expects us to maintain and take care of what we have. Sloth and indolence are sins that get in the way of us fully worshipping Him through preserving what he has given us. Every good thing is from above. Our maintenance of our spaces reflects our appreciation.
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