When my husband and I bought our first home, my boss at the time said, "Well, I hope you've got another $10,000 socked away because the minute you sign on the dotted line, everything breaks."
What a killjoy, I thought. Until ... his prediction came true. Within days of closing, our basement flooded. Weeks after that, our furnace stopped working. A month later our pipes burst. I could go on and on!
Because we were first time home-buyers smitten with the charming front porch and fenced-in yard, we overlooked a lot of things we shouldn't have.
We're not alone. Often, what starts out as a quintessential part of the American dream turns into a costly nightmare. More than just a place to raise your children, your home is a long-term financial investment, probably one of the largest you'll ever make, so it's imperative that you really stop and think before you dive right in.