surgery will pay for itself many times over. Strictly from an investment standpoint, I advise you against a pool. Most people don't want one. So, when you go to sell, there will be fewer potential buyers—less demand. Less demand translates into a lower selling price."
"Yeah, but I'm one of the few who does want a pool."
"Then get one. When it comes to home ownership, it's more important to fulfill your needs and wants than to make the perfect investment. You have to live there every day."
"That's it?" I fretted. "No more tips?"
"I'm an advocate of having a home inspector go through any house you're seriously considering buying, especially if it's an older house. Remember, we're talking about one of the biggest expenditures of your life, if not the biggest— spending a few hundred dollars to make sure all is well is very much in order.
"Dave, I can't tell you which house to buy. Our tastes are a lot different. Buy the house you and Sue like best. That is assuming, of course, you can afford it. And I do mean truly afford it. I don't mean the 'sorry-Tom-I-can't-go-out-for-a-beer-cause-our-mortgage-payment-is-so-big' kind of affording it. Stretching yourself to your financial limit in order to buy a house is almost always a financial mistake. It precludes your putting into practice other important financial planning strategies such as saving ten percent. It drains you of all your fun money, and it's very stressful. Live within your means, even if the rest of the country isn't!"
"Should we put down as big a down payment as possi-ble ... or as small as possible?" I wondered.
"And what about my mortgage? Should I pay it off as quickly as possible?" Cathy added.