Brian has a pretty simple explaination and a great outlook for first time buyers on how to approach home ownership for the long range! Enjoy it as I did!
Here's some advice that I always give to my clients. It usually turns out to be true.
"Your Third House is Your Dream House"
Your 1st House is the one that helps you stop renting. Your 1st House transitions you into being a homeowner. Your 1st House helps you start building equity. Your 1st House gets you into the market.
Your 2nd House is for when you're ready to move up. You buy your 2nd House when your family is getting larger, you've got a job promotion, etc. You need more room and can afford more house -- that's your 2nd House.
Your 3rd House is Your Dream House. You've arrived. This is the house you've always wanted. You're gonna stay here for a while. Maybe forever.
Some of my clients skip the 1st House and go right to the 2nd House.
I joke around with first time buyers and tell them that one day while I'm driving around the million dollar homes in McLean, I'm going to call them and say "Hey, I found your 3rd House. Now we just have to wait 15 years until you're ready to buy it."
Are you ready to buy your 1st, 2nd, or 3rd House? I'll be happy to help in any case.