what's new?

in case no one noticed, we sort of gave up on the race.  it didn't happen.  I signed a new lease and we'll be in an apartment until June first of next year, we hope.  it's a new race now.  we're actually saving for a wedding now, so that's going to be difficult. 
what else is new?  FHA loans are new.  they are no longer awesome for people looking to put down a small deposit on their first home.  starting this month, if you get an FHA loan, you will be required to pay mortgage insurance for the entire length of the loan, not just the first five years or twenty percent of the principal.  this is lame.  don't do it.  try and get mortgage insurance loan where you only have to put down five percent.  or save until you have your twenty percent.  you could do an FHA and refinance in five years, but who knows what interest rates will be then?  FHA just isn't a sound investment in your future anymore.

status update

i've been terrible at updating this journey.  mostly, because there hasn't been much to talk about.  so how about the savings?  i am currently at forty percent of my goal with eight months to go.  my girlfriend is at eighteen percent of her goal.  she's got some work to do or we're sunk.  i think she can do it.  she just doesn't make that much.  at least the payments for her disneyland pass are about to end.  got to make sacrifices.

verbiage - h.u.d.

what is h.u.d.?  it's the u.s. department of housing and urban developement.  this federal run department is responsible for a thousand or more programs that are geared towards creating the means to make home ownership possible in revitalized and growing communities.  basically, their goal is to make it easier for americans of less means to buy their own homes in places that are not the ghetto.  they are also responsible for turning ghettos into better communities.  however, h.u.d. does not just focus on the lower spectrum of the economy line.  they are here for every american, like me and my girlfriend.  they have counselors that you can talk to who will help you buy a home.  go to this link, www.hud.gov/buying and you find all kinds of information that can help you plan to buy a home.  there are also links to home buying counselors who have even more information for you.  you can go through their webiste and look at all the grants and programs they have available to americans, but there is a lot, so i think it's best to talk to a counselor and let them help you sift through to find what's right for you.

secondary income - online surveys

if you look online for advice on how to achieve some secondary income, you will find lot's of sites and blogs that will give you a list of suggestions.  on almost every list you will find online surveys.  don't do it.  it's a big waste of time.  i've been doing it for 2 months now and i've made like twenty-three dollars and wasted so much time doing it.  if you have all the time in the world, maybe you can come up with a system to turn it into a profitable experience.  however, most of us will just end up working for seventy-five cents an hour, after we pay a fee to find out how to do it.  is the money there?  technically yes, but it will not be worth your time or effort.

secondary income - recycling

okay, welcome to a new series dedicated to saving more money:  secondary income.  if you're trying to save a lot of money in a short period of time, you can't just do it by penny pinching and making sacrifices.  you'll find it'll do you much more good to go after secondary income.  it's very important to find places to make money other than your job.

recycling is probably the easiest way to make a little money on the side.  it doesn't require much effort or investment.  there is a slight time investment, if you have to wait in line to recycle.  the rest is just taking back the money you paid at the register.  you won't save a lot money doing this, but putting away an extra fifty bucks a month definitely does not hurt.  it's just one more way to build up to that down payment goal.  it goes along way towards the attitude that you need to have, save every penny you can and you just might get there in time.

ten months to go here.

buying new - the cons

so, what's wrong with buying a new home?  most of it has to do with money, or what your money can get you.  if you want to buy new, you're probably going to be paying a lot more than if you bought used.  and we're not just talking the cost of the home.  new communities tend to have much higher h.o.a. dues.  one cost most people forget about when buying new is the landscaping.  unless you're buying a condo where the landscaping is covered by the h.o.a., you're going to be paying a lot of cash to landscape your new property.  and it's not something you can avoid; most h.o.a.'s require your property be properly landscaped and maintained.  landscaping is a large expense a lot of people don't think of, not to mention the irrigation to keep it alive.  another downside to buying new is that pretty much everyone in the neighborhood will have the same home as you; no character.  all of your character will have to be on the inside, because your brand new home is a cookie cutter cut out.  and your cookie cutter house will be sitting on a small lot.  developers are not generous with their valuable land.  they want to squeeze as many homes as possible into what they've invested.  unless you're buying into horse property, don't expect to have a large yard.  large yards will come at a premium, which brings us back to more money.  the last downside deals with location.  if you won't want to live in the sticks, a new home close to the city is going to obviously cost a lot more than an old home.  for example:  in socal, you buy an amazing home for an amazing price if you buy in b.f.e., "beyond f-ing east", but you will be driving an hour to work, school, or any of the cool places to be in socal.  just know what you're buying in to and what you can afford.  happy house hunting.

buying new - the pros

there is nothing like buying a new home, or so i'm told.  we still haven't gotten there.  but i imagine it's a lot like buying a new car.  once you do, you just never want to buy used again.  so, what are the advantages of buying a new home?  first of all, it's new!  you get to start from scratch in a newly constructed home.  and you are it's only owner and occupant.  no one else's memories are in that home, except your own.  everything should be in proper working order, with no part of the house falling apart or on it's way to rundown.  there is nothing to worry about.  if you are lucky enough to buy a new home now, you will also have the latest in green and energy efficient technology, which means lower utility bills.  most of the time, you will also be moving into a new neighborhood.  all of your neighboors are in the same boat as you, buying new and starting from scratch.  it's a great feeling.  most new neighboorhoods have master planned communities, with parks, pools, and club houses for you to take advantage of and enjoy.  hopefully, you bought the home the way you wanted it, so there will be no updating or upgrading.  if you bought in without some of the upper end stuff to save money, then you will have some future little projects, which can be fun.  also, buying new, usually means no landscapping.  you get to start from scratch there too and create exactly what you want.  new construction also means new architechture and design:  open floor plans, walk-in closets, highly functional kitchens, modern bathrooms, great rooms, lofts, all the bells and whistles.  of course, this all depends on the developer and what you can afford, but you'll find even the most affordable plans will have all the modern touches to keep you in the here and now for awhile.