The following is a guest post from CPF reader Jaime. She is a homeschooling mama with a graduate degree who writes about faith, homemaking, and food on her blog, likeabubblingbrook.com.
One Reader’s Story: Paying Cash for Our Home
Over 11 years ago, while we were dating, my husband and I began to dream about one day purchasing a home with cash. Knowing that it would be a very long and difficult process to save up enough money to accomplish this goal, we planned to go about it a little differently. Here is our story:
My husband was a home builder for several years. Every two years we would build a new home for ourselves, using the equity from the previous home towards the new one and significantly decreasing our mortgage each time. For example, if we were able to save $30-$40k by doing much of the work ourselves, then after moving about five times we would have our equity built to around $150-$200k.
Our ultimate goal was to be able to accrue enough equity – by building and moving every two years – to build a new home completely debt-free. We’d reached the point where, with just one more house, one more move, we might be able to reach our goal. God had other plans for us, though, and so He interrupted our plan.
When our previous home sold in 2007, God began to deal with us – very strongly – about NOT building again. We felt very certain that we were to take the equity we had at that time and purchase a modest, older, less expensive home rather than build a new one. This was not easy for us to do, because we would be leaving behind a beautiful, larger, custom home that we had come to enjoy, and wanted to proceed with building a new home one more time, as we had planned.
Still, we wanted to be faithful to what God was calling us to do, so we prayerfully and carefully purchased a nice, older ranch home, about 1600 square feet, with cash. It’s a fine home, with good bones, in a pleasant part of town, and it suits our family well.
Walking into closing without a bank’s involvement or any bank closing costs was amazing, but it was marred somewhat by our own disappointment; we had hoped to buy something just a little bigger, just a little newer. I am so repentant about this today;
it was like we were telling God that what He had for us wasn’t good enough, but He covered us with grace and continued to lead us. He was so patient with us!
We experienced a wide range of emotions during this time period, and had to pray about many things other than the home itself. Should I re-enter the workforce, even if only part-time, so that we could justify purchasing a “better” or “bigger” house? Or perhaps should we “relax” our convictions and obtain a small mortgage, rather than only use our accrued equity? We prayerfully examined what it meant for us to be content, and never felt a peace about me working outside the home.
Now, nearly four years later, we can look back and examine the path God had for us. The housing market has since crashed, and many of the builders in our area have went bankrupt. It was a very stressful time for many of our friends in the building industry.
Thankfully, God has since provided my husband with steady work in a completely different field, and we have been spared some of the heartache we may have otherwise had to face, had we not heeded His still, small voice. Our family is more secure and
focused than ever before. God has been faithful.
God knew the plans He had for us. Through these difficult times in our economy, we have not had to worry about mortgage payments or exorbitant property taxes (our taxes are now a fraction of what they were in our previous home). Both of our vehicles were purchased with cash as well. We’ve been fairly comfortable financially, and I’ve been able to stay at home, raising our children, which is a true blessing and a tremendous joy.
I’m so thankful for His guidance and for that still, small voice. Sometimes it is not always easy to listen and obey, but we are always amazed by His protection when we do.