Janet and Sam Murray are a young newly married couple. They both have graduated from college are ling in an apartment. Currently, they both have jobs. They have been thinking about buying a home, but do not think they have enough money in their Bridal Registry Account to cover the full cost of a downpayment and closing costs.

They need to evaluate their income and expenses to:

1. See if they can afford a home
   
2. Determine how they could add money to their Bridal Registry Account to save enough money for a downpayment and closing costs

They have just finished a wonderfully prepared meal and have sat down with all their payroll check stubs and bills to discuss the possibility of purchasing a home. During their discussion, Janet quickly realized she and Same had different ideas. She was getting confused, so they agreed that they first needed to determine some goals. They each wrote down their goals and prioritized them.

Sam’s Goals:

1. Buy a new car—Sam was driving the same car he had in high school and college. It was getting old and needing frequent repairs.



2. Pay off college debt—Sam had to borrow money to finish college. He was now obligated to repay that loan.



3. Buy a home.

Janet’s Goals:

1. Buy a home.



2. Buy new living room furniture.



3. Reduce income taxes—Since both Sam and Janet work, live in an apartment, and have no children, Janet thought they were paying too much in income tax.
   

It didn’t take long for them to see that they shared some of the same goals, but in reality, they needed to negotiate to see how all of their goals could be met. They then decided to take a look at their income and expenses.

Table of Contents | Homebuyer Course Start Page | Find A Realtor | Budgeting To Buy a Home | Neighborhoods | Find Your First House | Inspect Before You Buy | Shop For a Mortgage Loan | Mortgage Home Loan Process | Credit Score and Credit Report | Home Mortgage Loan Closing | Being a Home Owner

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