Recently I had a client approach me about buying a house in Denver, Colorado. They recently sold a house and are currently renting. The emotional draw is they want a second bathroom for their child. They want a big enough space for the child to feel comfortable. All these are well-intended ideas.
But the allure of owning ones own home can sabotage our reality. Owning a home is not for the faint of heart. It takes a lot of work and a lot of money to keep up with.
The real estate broker suggested borrowing money form her 401k.
Please read the full story posted on the Paladin Registry here.
By James Cornehlsen, CFA
To learn more about James Cornehlsen, view his Paladin Registry profile.