San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1926-04-23
BUDGET SHOULD
BE USED BY
HOME BUYER
People Can Save Money by
Planning Expenses in
Advance.
BY NENA BADENOCH

For a whole month the budget cS
perts of Home Service have bee
working on budget plans made to fl
the individual needs. And they ar
still working, for it takes time to Civ
careful consideration to each famil
problem. but it makes the resul
worth getting For those who hav
not yet had budget return, pleas
do not be discouraged, but just know
that you will get the same counse
and planning.
One of the most interesting thing
which we have observed in figuring
these hundreds of budgets is tn
number of families who are buyini
their own homes.
A great many have purchased {
house from contractor builder an,
are paying for it in monthly pay
ments, These monthly payments GOV
er interest on the investment and par
tial payment on the principal. The
danger lies in figuring the monthly
payment as the equivalent of rent
paid TO the landlord, covering all
items, including heat.
HOME BUYING BUDGET.
Added to the monthly payment
must be taxes and assessments, up
keep on property, insurance on prop,
erty, water tax and cost of heating
to get the true monthly outgo for
shelter.
For instance, a family with an in,
come Of $500 a month are purchas-
ing a house, making a monthly pay
mcnt Of $50. That would be in pro-
portion if that were all, but it isn't.
Often the house is in new sub-di-
vision and there are pacing assess.
ments to pay, or assessment for water
mains. Then there are taxes, too.
These items only come once a year
and they are apt to be forgotten in
the monthly estimate. That is true
with insurance on the property. too,
but it is an item which must not be
forgotten to guard the investment
against fire loss.
OWING A HOME.
The result is, when all the items
are tOtalcd there is a monthly OutgO
Of $40 to $40 instead Of $50 for shell
ter. and the family tries to econo-
mize on food, clothing and operating
expenses, 10 say nothing of advance
mcnt and savings.
There is great JOY, though, as com.
pensatiOn in actually owning ones
home. And there is always satiSfac-
ton in knowing that a certain def
mite part of that monthly payment Is
money saved and that there is sOme-
thing to show for the years Of pay
ment for shelter. H.
Tho answer is make a smaller
monthly payment, so that the total Of
items for shelter viii be In proportion
10 the income. Make it possible 10
live without feeling pinched and wor
ried, or else part Of that joy in
possessing a home is taken away.
ANOTHER WAY.
We find many young couples who
are anticipating this JOY of home
building, for in their savings program
they are making n definite monthly
payment into a building and loan as.
sOciatiOn.
There is at least one such associa'
ton that ] know of which carries the
family right through from the first
payment TO the time when the cur.
tains are hung and they are in their
own home. A financing plan is care
fully worked out, architect service
building contracts guarln
teed and final payments worked out
Think in futures. and definitely
work toward the goal Of a home and
il is surprising how the financing
fits into the saving plan. The whole
trick Of it lies in getting started
carly enough.
Other families are making monthly
payments on lot. having found
place where they can buy land at n
price, anticipating the fu.
lure development of the property. |
The vital point here is to estimate
low much the improvement will cost. |