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buying a house

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Owning a home isn’t a new idea and has historically been associated with financial stability, but with the recent recession that has spanned across multiple countries buying a home has gotten a bad rap. One reason home ownership is still a good investment is that interest rates on mortgages have hovered around the lowest historical average these past few years.

I’m beginning to realize that I might be purchasing my first house without the golden standard of 20% down. For personal finance gurus who are guffawing and shaking their heads, the truth is I live in an expensive area and 20% down on homes in my area is more than most people make in a year.

I love the idea of building my own home, but realistically, a custom-built house probably won’t be the first home I own. Most likely I’ll have to wait to break out that Hitachi Mini Excavator to prep my own land. Chances are I’ll buy a fixer-upper that needs a lot of elbow-grease.