A mother-of-three is criticized by a millionaire for traveling in business class, but all of his grievances are forgotten when the pilot greets them and makes a special announcement only for her.
“Aww! You can’t mean business! Is this where you’re forcing her to sit? You had better take action, Miss! A mother-of-three was approaching his nearby seats with a stewardess’s help, and Louis Newman moaned.
The stewardess apologized and showed him the tickets in her kind reply. We are unable to change the fact that Mrs. Debbie Brown and her kids have been given these seats. I would ask that you please assist us.
“Miss, you’re not understanding! I have an important meeting with investors from overseas. I can’t afford to lose this contract since her kids will keep talking and creating sounds!
“Sir.” Debbie cut the stewardess off just as she was getting started. “Everything is OK. If the other people are willing to switch seats with my kids and me, I can sit somewhere else. For me, that is not a problem.
“That’s not at all, ma’am!” the hostess exclaimed. “You have the right to be here because you paid for the seat you’re in! It doesn’t matter if someone loves it or not, and mister,” she said, turning to face Louis, “I would like it if you could wait for the trip to be over.”
Rich businessman Louis Newman was displeased that the waitress had turned down his request, but he was more displeased that he had to take a seat next to a woman dressed cheaply on the aircraft, who didn’t seem to belong in business class.
After helping her kids firmly settle into their chairs, the mother sat next to him. He turned his face away and put on his AirPods to avoid being forced into conversation.
The flight took off as soon as the boarding procedure was over and everyone was seated in their designated seats. The kids started chirping with excitement as the plane took off because it was Debbie and her kids’ first time traveling in business class. Stacey, her daughter, exclaimed, “Mom!” “Look, we’re taking off at last! Happy!
Some of the other passengers on the plane turned to stare at Stacey, smiling at her naivety, but Louis’s attitude was disdainful. He turned to face Debbie and whispered, “Listen.” Would you kindly ask your kids to keep quiet? I’m attending a meeting from here since I missed my last flight. I’m not looking for any form of interference.
Debbie graciously apologized and gestured for the kids to keep quiet. Debbie learned from Louis’s frequent mention of fabrics and the fact he carried a guidebook containing designs that he was a businessman primarily involved in the fabrics industry during their nearly two-hour encounter.
Debbie came up to Louis after his meeting was over and said, “Do you mind if I ask you a question?”
Although Louis didn’t want to talk to her, he was relieved that his meeting had gone well and the investors had approved the agreement, so he swallowed his haughtiness. “Well…Yes, please proceed.
“I saw that you have a handbook with patterns and samples of fabrics. Do you have a job in the apparel sector?
“Oh, yeah…Indeed, that is a valid point. I run a clothes business in New York. A deal had just closed. It worked, even though I hadn’t really hoped it would.
Oh, how beautiful that is. Best wishes! Actually, I’m a Texas small-business owner. It is mostly a family event. My in-laws in New York started it. We just launched a location in Texas. I was quite amazed by the designs you were showcasing.
Louis laughed sarcastically at her. “Many thanks, dear! However, my company hires some of the top designers, and we recently struck a contract with the best design firm in the world, so the designs we produce are not like something from a little local or family store! A BRAND NEW? Really? He smirked and said enough to make fun of Debbie.
Debbie was embarrassed by his remark and said, “Oh, well,” but she remained composed. “I – I recognize. It must be a really significant issue for you.
“Something enormous?” Louis shook his head and grinned. It was a million-dollar deal, but a poor woman like you would never comprehend! He paused for a moment, then said, “Let me ask you this again.” “I mean, I saw all of your tickets.” You may be traveling with us in business class, but you don’t seem like the kind of person who should be here! Perhaps the next time, try economy and see who else has stores similar to yours.
By now Debbie’s patience was wearing thin. “Listen, sir,” she admonished. “I know I’m getting ahead of myself; it’s my first time flying in business class, and I had trouble figuring out the check-in procedure and everything,” the person said. Although he is traveling with us, my husband
Before Debbie could say anything further, they arrived at JFK as announced over the intercom. But after making his announcement, Captain Tyler Brown, the pilot, had more to say before shutting off the intercom.
Additionally, I want to express my gratitude to each and every person traveling with us, especially my wife Debbie Brown. Debbie, my love, words cannot express how much your help means to me.
When Louis saw that Debbie’s husband was a pilot on the flight, his face flushed with shame and his heart missed a beat.
I was anxious because this was my first time piloting an A-class aircraft. I am grateful to my spouse for reassuring me that everything will work out and choosing to come along even though she is afraid of flying to soothe my concerns. I returned to work today after a protracted period of unemployed. Debbie has never complained about her circumstances, despite the fact that my wife and I have never had it easy and have faced many challenges in our life. I would thus like to pop the question to my wife once more on this flight on this day, which also happens to be the day we initially met—a date I think she has forgotten. Debbie, sweetheart, I adore you!
At this point, Tyler defied convention and exited the pilot’s cabin, popping the question to Debbie and putting a ring on her finger. “Mrs. Debbie Brown, would you like to spend the rest of your life with me again?”
Now Debbie and her kids had been the center of attention for everyone on the plane; they looked like the most gorgeous family imaginable. The passengers cheered as Debbie nodded yes through crying eyes, while Louis stood confused and ashamed. Debbie, nevertheless, would not stand by and let him get away with it. “A materialistic man like you, who only thinks about money, would never understand how it feels to have a loved one around you,” she stated to Louis as they were getting off the plane. Indeed, my spouse and I lead a modest life, but we take great pride in it!
How to Own Your Dream Home
For most people, their first home isn’t their dream home. It starts off nice enough. But as time goes by and your family grows, starter homes tend to get a little . . . cramped.
But don’t hate on your current home too much. Because while it gave you a safe and dry place to lay your head at night, it was also setting you up to own your dream home someday.
We’ll show you how it all works and walk you through the steps that’ll get you in your dream home—one you can actually afford!
How to Get Your Dream Home in 5 Steps
Here are the steps:
- Follow the Financial Basics
- Find Out How Much Equity You Have
- Set Your New Home-Buying Budget
- Find the Right Dream Home for You
- Be Picky and Patient
Now let’s cover each step in more detail.
Step 1: Follow the Financial Basics
First thing’s first—you have to get out of debt, get on a budget, and build up an emergency fund of 3–6 months of expenses. Sounds pretty basic, right? If you haven’t completed these steps, then you’re not ready to upgrade to your dream home . . . yet.
Now, when you’ve got house fever, it can be hard to focus on paying off debt or saving an emergency fund before you upgrade your home—especially when you’re feeling the pressure of rising home prices and interest rates.
But whether it’s your second or third house, you should only buy a home when you’ve covered the financial basics we mentioned above. Then you’ll be ready to start the journey toward owning your dream house.
And that journey starts with your home equity. What’s equity? Well, we’re glad you asked . . . that brings us to the next step.
Step 2: Find Out How Much Equity You Have
Home equity is a pretty simple concept: It’s your current home’s value minus whatever you still owe on your mortgage.
See, in most cases, your home’s value increases over time. Similar to other long-term investments (like retirement accounts), homes gradually increase in value. There have been periods of ups and downs in the market to be sure, but the value of real estate has consistently gone up. According to the St. Louis Federal Reserve, the average sale price of a home has increased over 2,300% from 1965 to 2023! And in the last ten years (2013 to 2023), there’s been a 68% increase.1 As your home increases in value, so does your equity. In real estate terms, this is called appreciation.
Other factors that increase your home’s equity include:
- Added value: Home improvement projects like adding square footage, updating fixtures and appliances, or even just slapping on a new coat of paint can add value to your home.
- Mortgage paydown: Paying down your mortgage not only gets you out of debt faster, it also builds your equity. The less you owe on your home, the more equity you have.
The amount of equity you have gives you a pretty good idea of how much money you’ll end up with after selling your house. You can use that money to make a hefty down payment and cover the other costs that come with buying a home.
Find expert agents to help you buy your home.
So, how do you determine your home’s value? Well, you can get a ballpark estimate on real estate websites like Zillow, ask a trusted real estate agent to perform a competitive market analysis (which they’ll do anyway if they’re helping you sell your house), or get a professional appraisal.
Finding out your home’s equity will involve a little math, but it’s third-grade-level stuff, so don’t sweat it.
Here’s what we mean. Let’s say your home’s current value is $355,000. When you sell that house, you’ll have to pay for between 1–3% of the sale price in closing costs, another 6% in fees for the real estate agent who helped you sell it, and whatever’s left to pay off on your mortgage.
That means you can estimate clearing over $223,000 from selling your house. That’s a killer down payment on your dream home! And if your home is paid off, that’s even more money to put down and use to pay for things like repairs and moving expenses.
Step 3: Set Your Dream Home Budget
Once you know how much you’ll clear from the sale of your home, you can start making a budget for your dream home.
The key to owning your dream home (instead of it owning you) is to keep your mortgage payment to no more than 25% of your take-home pay on a 15-year fixed-rate mortgage, along with paying a down payment of at least 20% to avoid private mortgage insurance (PMI). Never get a 30-year mortgage even if the bank offers it (and they will). You’d pay a fortune in interest—money that should go toward building your wealth, not the bank’s.
So, let’s say your take-home pay is $4,800 a month. That means your monthly mortgage payment shouldn’t be any bigger than $1,200. By the way, that 25% figure should also include other home fees collected every month with the mortgage payment like homeowners association (HOA) fees, insurance premiums and property taxes.
Plug your numbers into our mortgage calculator to see how much house you can afford.
And don’t forget to budget for all those other costs that come with the home-buying process in addition to your closing fees—things like moving expenses and any upgrades or repairs you might need to make. You don’t want these hidden costs to catch you off guard or drain your emergency fund.
Step 4: Find the Right Dream Home for You
This is where things get real. After all your hard work building up your equity (and doing a lot of math—don’t forget that), you’re finally ready to start the house hunt. Woo-hoo!
But don’t lose focus. Stay zoned in by making a list of features that make a home fit your budget, lifestyle and dreams—and stick to it throughout your house hunt. Here are a few ideas to get you started.
- Don’t compromise on location and layout. If you plan to be in this home for the long haul, an out-of-the-way neighborhood or a wacky floor plan is a deal breaker. Look for a community and layout that’ll suit your lifestyle now and for years to come.
- Think about how much space your family needs. While your budget has the final say about how much home you buy, you’ll want your dream home to fit your family’s needs through different life seasons.
- Consider the school districts. If you have or want kids, the quality of the nearby school districts is probably already on your mind. But even if you don’t have kids or you’re retired, keep in mind that having good schools nearby could increase your home’s value.
- Look for a house that’ll grow in value. Are home values rising in the area? Is the number of businesses going up? These factors can help you figure out whether your dream home will turn into a good investment.
- Count the costs. Want that fancy master bathroom with the multiple showerheads and the Jacuzzi tub? Be clear on what’s a must-have and what’s nice to have. And don’t forget, upgraded features like that will make your dream home more expensive.
Step 5: Be Picky and Patient
We know you’re anxious to get into those new digs, but be patient. Wait for the right house at the right time. Don’t spend your money on a less-than-ideal home just because you’re tired of looking.
The key is finding a good real estate agent who understands your budget and refuses to settle for “good enough.” They’re as committed to your dream as you are and will have your back throughout the entire process, no matter what it takes.
In addition to teaming up with a great real estate agent, you can take a couple of extra steps to make sure you’re ready to strike as soon as the right home comes up:
- Get preapproved for a 15-year fixed-rate mortgage. Having preapproved financing is a green flag for sellers—especially in multiple offer situations. And because this puts most of your information in the lender’s system, you’ll be on the fast track to closing once your offer is accepted.
- Offer earnest money with your bid. Earnest money is a deposit to show you’re truly interested in a home. Usually it’s 1–2% of the home’s purchase price and it’s applied to your down payment or closing costs. Even if the deal falls through, you can almost always get most of it back.
Find a Real Estate Expert in Your Local Market
Now, you might be thinking you have some work to do before you’re ready to find your dream home. Or you may be realizing your years of hard work are about to pay off! Regardless, if you follow these steps, you’ll find the house you’ve always wanted and avoid a purchase you’ll regret.
Once you’re ready, connect with one of our RamseyTrusted real estate agents. These are high-performing agents who do business the Ramsey way and share your values so you can rest easy knowing the search for your dream home is in the right hands.
Find the only real estate agents in your area we trust, and start the hunt for your dream home!
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