21 Things You Should Never Buy New – Yahoo! Finance

13. Houses: You’re typically able to get better and more features for your dollar when you purchase an older home rather than building new. Older houses were often constructed on bigger corner lots, and you also get architectural variety in your neighborhood if the houses were built or remodeled in different eras.

via 21 Things You Should Never Buy New – Yahoo! Finance.

I am always looking for interesting things in the news. This was a great article I think a lot of people need to read. Because I work with consumers directly I am constantly being bombarded with financial questions. And it really comes down to simple management. If you want me to dumb down our current economic situation it is actually quite simple. Money mangement! How hard is it to not buy something you can’t afford? Is that hard to understand? When you buy a home, you buy a home that you are qualified to purchase. Based on your income, your income to debt ratio. Now what is your income to debt ratio. For example, if you make $2000 a month, and you have a car payment and a credit card payment that equal $1000 a month. That would put you at 50%. That is what lenders are looking for.

Our Govt. hasn’t quite learned this principle yet either. So I guess I can’t be to surprised that the majority of the country doesn’t either..

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