A Goal Without a Plan is Just a Wish

Family Balance Sheet

On top of our normal day to day expenses, the new property taxes were due, we had more ownership expenses than we realized, and we had a family to feed. As much as I wanted to be a property owner, the extra debt was beginning to suffocate us. Selling the property and going back to renting wasn’t the way I wanted to handle the situation, so I sat down and created a step-by-step plan.

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Things I’ve Learned During 30 + Years of Home Ownership

Prairie Eco-Thrifter

As a child and teen, I painted (inside and out), mowed and trimmed, punched holes in concrete to install decorate iron railings, worked with hand and power tools and helped my parents do everything from putting up a garage to putting up storm windows. When I go to garage sales, I see folks selling nearly new home decorations for a pittance. Eminent domain allows governments to seize personal property if it is in the public good.

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How We Paid off Six Figures of Debt

Family Balance Sheet

We had been renting for over 10 years and we were ready to find a property to move our business to and eventually build our net worth. Our business was doing very well, and we were excited about the opportunity to own a property outside of our home. In September 2001, we bought a 1700 square foot home with a one-car garage and ONE full bathroom. In September 2019, my husband and I accomplished our biggest financial goal in our almost 20 years of marriage.

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Save Taxes: Negotiate A Reduction in Your Assessed Value

Prairie Eco-Thrifter

If you own real estate, you have been, or someday will be, confronted with a rise in your assessed property value. This usually leads to an increase in your real estate taxes! Increases in your assessed value can sometimes be negotiated downward, saving you tax money. Assessed value is the value that will be used in determining how much you will pay in real estate taxes. Most state laws require that assessed value be based on the market value of the property.