As long-time readers are aware, Mr. Frugalwoods and I own a rental property in Cambridge, MA, which is one part of our diversified portfolio of assets. This is the very same property formerly known as our first home. We bought this house in 2012–for the lowest purchase price per square foot for that buying season in Cambridge–and happily lived there for four years. This home was purchased with the intention of one day translating into a...
As I shared in a fit of elation the other week, Mr. Frugalwoods and I bought our Vermont homestead! If you want to get caught up on this breaking news, check out the first two posts in my homestead mania series: That Time We Bought A Homestead and How We Decided Our Homestead Was The One. Today, I’m addressing the financial aspects of our dream-come-true property. Our plan, and ability, to move to the woods...
In case you missed last week’s announcement… Mr. Frugalwoods and I bought our homestead in the woods! In light of this revelation, I’ll devote a spate of upcoming posts to discussing every angle of our rapidly approaching homestead journey. Today’s edition of “all things homestead” analyzes the reasons why we chose the property we did. Future installments will address the financials and sundry other topics. Although we felt an immediate emotional connection when we first laid eyes on what...
In case you thought the only new thing going on in our lives right now is Babywoods, well, I have a small surprise. We kinda sorta bought our homestead. And by “kinda sorta” I mean we 100% bought our homestead. I’m thrilled to share this news with you and it’s the main reason why I’ve been posting less often lately–Mr. Frugalwoods and I are delightfully busy preparing for our impending move! We closed on our Vermont homestead earlier this year...
It’s open house season! You perhaps thought these balmier temperatures and tulips indicated a season called spring, but no, tis the season of house buying. The inspiration for today’s post comes from a reader who recently sent me a fantastic question about one of my favorite things… open house etiquette! Before Mr. Frugalwoods and I slapped down the money to buy our current home, we frequented a ton of open houses. And by “ton,” I mean roughly 270+ over the years. The Young...
Several people in my office are thinking about buying a home and since I’m known as the resident real estate nerd, they’ve started asking me what they should do to prepare. I always start with finances–in my experience, that’s where people are most likely to get tripped up. Borrowing hundreds of thousands of dollars is complicated — and it should be! It’s not for everyone. It’s essential for potential home buyers to understand their finances and how...
Condos can look enticing. In hot real estate markets, they may appear more affordable than traditional homes. But there’s a lot not to like about condos. If you’re considering purchasing a condo, here are a seven things to look out for: Condo Fees: Any condo is going to have a fee. Usually this is referred to as a Home Owners Association (HOA) fee on the MLS listing. Make sure to factor this fee into your monthly payment calculations....
Buying a house is falling out of fashion in the Financial Independence and Early Retirement community. Not “Green Polyester Leisure Suit” out of fashion, more “Cherry Cabinets and Ornamental Backsplash” out of fashion. The oft-cited, and extensively researched, post on the matter is the awesome and amazing JCollinsNH’s “Rent v. Owning Your Home, opportunity cost and running some numbers.” If you haven’t read it, you should. Go ahead, I’ll wait. I weighed in with my own “Should...
One of the biggest financial decisions you’ll ever make is whether to buy or rent your home. This decision can feel more important than mere numbers and ratios. After all, most realtors will quickly whisper in your ear “it’s not a house, it’s a home!” Once you’re settled in a career and have some money in the bank, the idea of renting quickly becomes less appealing. Moving every few years is a pain, landlords raise rent, and you’ve always wanted...
