Home ownership pitfalls and ways to avoid them

We are told from an early age that home ownership is the American dream but sadly for lots of people it can become a nightmare quickly.
Borrowing money for a home is how the majority of people make the largest purchase of their lives, sadly the banks never factor in the cost of repairs when you purchase these homes, this can cause many problems for homeowners in their budgets since most people don't use a budget and don't plan for these large expenses.I was having a friendly discussion with a gentlemen on Instagram yesterday about if a home is an asset or not and how people get in trouble with these homes. He was telling me how he has used his home to make lots of money borrowing against their houses to buy more property, this can be a great strategy for financially savy investors that are good with their finances but not so much for people that struggle with their bills and managing their money.
Home ownership can be very expensive as the home gets older, a good way to limit the costs of these issues is to plan for them by saving the money out of your weekly checks not just borrowing more money to fix these problems, if you are watching or budgeting your money you know what these large expenses can do to your budget.
preventive maintenance can make water heaters and furnaces last a long time but if you just ignore them they will cause you problems way to soon.if you know your deck is starting to look bad it may be time to start putting back a little each week to replace it.
If you don't take care of your home it will go down in value quickly, don't be that person and let where you lay your head to be worth less than what you paid for it due to deferred maintenance.

happy investing