Susie was a first time home buyer at the age of 52. She had relocated to Georgia after she lost her job of many years. She was making a payment of $500 per month in rent when she came to see me. She wasn't making a ton of money but was certainly making enough to purchase a home.
After sitting down and reviewing her goals, it became apparent that she was ready for home ownership. She set out to find a home and because she planned to be in this home when she retired, she set out to find something that would fit her needs both in present and future. When she began her search, it became apparent that area she was looking in was too expensive so she directed her search to a neighboring county that wasn't as expensive.
And she found the perfect home in the perfect price range. Not only was it a perfect home, but the HOA dues included lawn care which for her was an added bonus. Her new house payment including the HOA payment was $230 more than what she was currently paying.
Because she qualified for government assistance, she did not have to put money down so she used the money she would have put down on the home and paid off her debt. By doing so, she improved her cash flow better than it was prior to purchasing a home. Now that is the way to buy a home!