This “How Blogging Pays Our Mortgage and Some More” post describes how my wife and I were able to purchase a house with my blogging money. This post contains affiliate links/ads. See disclosure policy.
We are officially homeowners! I can't believe that I am really saying that loud and clear.
The process of purchasing a house was a breeze. There was no hiccups, no challenges, and no problems at all.
My wife and I never expected that we're going to get the house that we really like because there were multiple offers on the house we just bought. I'm pretty sure that we didn't have the best offer (in terms of price offer), but we were so passionate about the house that we had had all the paperwork ready even before we started hunting for a lending company.
I guess that's what made a big difference in us getting the house.
My wife and I have been saving crazy because we want to retire early, which means that a lot of times we focus on putting more money in our savings and investments than in the house down payment.
Good thing blogging came into the picture. One of the things that made it easily possible for us to buy our house is my blogging money.
FYI: Sign up using my link and you can start your blog for $2.95/month. instead of the regular $7.99/month. That's just a coffee fix from a gas station or even less than that. That's 50% off the regular price.
- How To Start A Profitable Blog in 15 Minutes or Less
- Blogging For Beginners: Why You Need To Start One
- I Made $23,520.50 In 9 Months As A New Blogger
How Blogging Pays Our Mortgage and Some More
For those who have been following my blog for quite some time now, you know that I've only been blogging for a little over a year now but have been fortunate in gaining avid readers and having great streams of income.
For those who have just seen my blog, my original intention was to share my thoughts and knowledge on paying off a large sum of debt. Yes, around 4 years ago, I was indebted to the tune of $40K. Now, my wife and I have a house we call our home.
Ooohhh, that sounds like a good blog post next time…. “How I Went From Owing $40K Debt to Owning A House in 4.5 Years”.
Here's how blogging pays for our mortgage and, then, some more:
Down payment is something of a big concern for other prospective home buyers. Why?
It's because it's a big chunk amount of money. Many times, lenders will ask for at least 5% of the purchase price as your down payment. If you get a 200,000 house, then, that 5% is $10.000. That's a lot of money.
Over these past couple of months, my wife and I saved part of my blog money for down payment.
While we could just fork the money out of our savings or checking account or we could get a personal loan, we decided that the down payment should come from our blog. After all, we'd like to keep our day job incomes… I mean all of it as much as possible.
So, instead of dipping into our accounts, we saved a portion of my blog money, which we eventually used as down payment for the house.
By the way, this is our house. In the picture are my brother, daughter, mother-in-law, and mom.
The biggest and the most dreaded part of having a house is the never-ending monthly mortgage payments.
We managed to put ourselves in a blog budget and we used our good, old Budget Printables to do just that.
So, what's blog budget? It means that whatever I make from blogging monthly is basically the money that my wife and I will use every single month. This doesn't mean though that we spend every single money I make each month.
We make sure that we always have some leftover from my blog money so it can go to other important things like investments, college education plan for our daughter, all other bills, etc.
Anyhow, the payment for the monthly mortgage comes directly from the blog income.
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Before our family moved into our new home, I told my wife that we didn't need to buy new furniture and other things that would make the house beautiful.
Honestly speaking, I was wrong.
When we put everything we had from our apartment to our new house, we had so many empty spaces that needed to be filled with furniture. In addition, some of the pieces of furniture didn't match the new aura of the house.
So, we decided to buy furniture and other important things. I didn't say NEW furniture and other important things because we want to buy pre-owned stuff from other people.
We want to be frugal and be responsible with how we spend our money. Buying furniture is no exception. We are in the process of looking through or going to sales, clearances, letgo app, craigslist, thrift stores, and so many places where we could find FREE or deeply-discounted items.
We primarily focus on getting items that will stand the test of time (i.e. hardwood products). Just the word hardwood is scary enough because you know it comes with a good price tag. That's the reason we go to these stores or apps to find what we want.
I don't care about the dings, scratches, chipped paint, etc. Those are just cosmetic and I can refinish every single furniture there is and make it look new.
Instead of using our day job income to pay for these “wants”, we choose to use our blog money. I say “wants” because I think the things we want are just wants.
I know I've said in my previous posts to just focus on “needs” not “wants” but what I want to say is that we've managed to save a ton of money and we feel that splurging some dollars to beautify our home is something we can do without feeling guilty.
After all, we are going to stay in the house for a very long time.
We took out a 30-year loan. Does it mean that we are going to pay the loan in 30 years? No No No.
We intend to pay it off as soon as possible in a more reasonable, investment-wise strategy. We will make extra payments of a couple of dollars or hundreds of dollars each month.
Using my amortization calculator, I figured out how much the savings could be and how fast we would be able to get out of this mortgage debt.
It turns out that an additional payment of the principal of $65 and the same monthly payment even when the private mortgage interest (PMI) is no longer in the bill would mean slashing 14 years in the life of the loan.
The additional $75 is not big money for us because it will come from our blogging money. It's still quite a bit of money but it's something that we are fine to let go because it's not coming directly from our day job income.
Some of my friends say that I could just invest the $75 a month for the next 20 years at 8% annual return of rate and potentially grow my money. That's true but my wife and I already allot money from our blog to go directly to investments.
It's called diversification. While I understand that there's money in the stock market, I also understand the risks associated with investing in the stock market.
We don't like putting all of our money in one basket.
Repair and maintenance
How I wish we didn't have to bother about repairing and maintaining our house but having a house means having to make sure things work the way they should.
Since it's our own house, we are responsible for everything from plumbing to roofing and everything in between, which isn't the case when you are renting out.
According to a friend of mine, the general rule is to reserve 1% of the total value of your house for repair and maintenance. That's for every year. This means that if your house valuation is $200K, then, your repair and maintenance fund is $2,000.
My blog pays for that. Since my blog generates over $7,000 a month and have some leftover even after paying all our bills, investments, etc., I am able to put money towards repair and maintenance.
So, if something has to be fixed, then, I can easily fork out money from that account without having to touch other money accounts we have.
It was only a couple of months ago that my wife and I seriously talked about buying a house that we can call home. Now, it's here and it is one of the greatest feelings in the world to have a home where you can grow memories, have a life with the family, etc.
To top it all, anything related to this house will be paid for by my blog income. It feels like we have this house that's ours but we're not really paying it off because we're not using our day job income.
Is Blogging For You?
That's a million dollar question. Well, it's only $2.95/month question to be exact. Sign up using my link and you can start your blog for $2.95/month. That's just a coffee fix from a gas station or even less than that.
You get a FREE domain as well when you sign up using my link with Bluehost. That cost alone is over $8.
Use my tutorial to create your blog in 15 minutes or less. It will teach you how to start a blog and make money, the blogging platforms, etc.
In all seriousness, that's the question you have to ask yourself but I highly recommend that you try.
I took a risk and paid a little under $100 for one year to start my blog. Three months later, I made over $600, which meant that my return of investment is more than 600% in 3 months.
A little over one year, I have consistently made over $7,000 even when I'm looking blogging 10-15 hours a month (click here for my income reports). My blog has continued to grow month after month in terms of readership and income.
I projected that my income for this year will double especially that I found some paid blogging jobs I can incorporate in my blog.
What I do know is with patience, dedication, and passion for blogging and earning money through a blog, you could potentially earn thousands of dollars in no time. I'm a living proof of that.
Just to let you know, blogging has not only allowed me to earn more money but it has also allowed me to improve other aspects of my life:
- It has improved my relationship with my wife. (click here for full post)
- It has allowed me to share my thoughts and experiences on paying off debt, making money, saving money, and everything in between.
- It has allowed me to touch a lot of lives (in terms of personal finances) in good ways even in my own small way
- It has allowed us to keep every single penny we earn from our day jobs and let blogging pay for everything.
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You can get about your life with blogging. Do you think blogging can be a game changer for you as much as it has for people like me? Please comment below or email me at [email protected] I'll be more than happy to help you.