The thought of becoming a homeowner can be very overwhelming, but have no fear! In Step Nine of David Sidoni’s How to Buy a Home series, he gives you some practical advice on how you can practice being a homeowner before you actually become one. Following this step gets you on the right track financially and gives you the confidence you need to jump into your new chapter of home ownership. 
Here are some key topics from today’s conversation:

Episode Highlights:
[01:21] The “B” Word
Let’s start with the money - a.k.a. your budget. There are lots of different ways to attack your budget, but you need to focus on being able to save while also paying your expenses. When you’re still renting and saving for that down payment, that percentage of your income you need to save might need to be higher. But, many folks report that they get so used to saving, they still follow a very similar process after they’ve purchased their new home, just at a smaller percentage than before! Saving is a habit that you need to get into when you’re preparing to buy a home and there’s no better time than the present to start. A great way to get started is by talking to your unicorn lender and estimate a PITI payment that aligns with the amount you’re approved for then saving that each month. You’re practicing your payment.
[09:37] Play the Long Game
Your home will never feel more expensive than it does in the first three years. The mortgage will feel the highest in these first three years because you are used to paying an increasing rent. While the rent might be lower than a mortgage payment, it will stay the same. So, pull out a spreadsheet and start planning how you can play the game. Yes, spreadsheets can be intimidating. But, having a concrete plan can make all the difference when planning for your future.