Need some advice

bridget&jimmy Posted: Oct 06, 2003 10:15 AM

Need some advice

Someone in our complex is selling a townhouse bellow the value because they are going through a bad divorce and what not. The place needs some work and we have a Town house that we share with my fiance's mother. So she told us she would buy us out of the Town House we are in now and give us the money to buy the other town house. It is such a great deal but I am not sure how much we will be able to save for the wedding while having to pay the mortgage and town house fees. I want the house bad but in a way I want to just wait till after the wedding. And I feel like if I pass this up I am going to regreat it. I have no idea what to do.

Bridget

Boop2704 Posted: Oct 06, 2003 10:18 AM

Re: Need some advice

Maybe you could push the wedding back a bit to save more money. I wish I could get a house before the wedding, but unfortunately we just can't afford it. If it is such a great deal, you really should take it. Maybe you could cut corners in other places to buy the house and still save for the wedding!! Just some suggestions. Good Luck!!!

peabody Posted: Oct 06, 2003 10:18 AM

Re: Need some advice

Bridget,

This is just my opinion, but I think if it is below market value and if the price is good, snatch it up!
The way prices keep increasing you may have to spend more $$$ if you wait until after you are married.

Good luck!

Tara

bridget&jimmy Posted: Oct 06, 2003 10:29 AM

Re: Need some advice

Well that is what I figured and that If we came up short right before the wedding we could refinance the house and use some of that money so we get it either way.

Bridget

peabody Posted: Oct 06, 2003 10:31 AM

Re: Need some advice

I say go for it! With the new school and the location the value of the townhouse can only go up!

My house has gone up quite a bit since we bought and I think alot has to do with the new school.

btrflygrl Posted: Oct 06, 2003 10:33 AM

Re: Need some advice

I think if it's below cost you should find a way to buy it, unless you were thinking of a house. I've been worrying about what we are going to do about finding a place to live since we don't have a lot of money and we are paying for the wedding and we'd like to leave NY eventually. I've also heard that the market is topping off and all these houses that people are selling at ridiculous prices are not getting what they are asking. I hope you two decide what is best for you! Good Luck!

bridget&jimmy Posted: Oct 06, 2003 10:36 AM

Re: Need some advice

Do you have any trouble trying to save for the wedding and all the house costs.

Bridget

btrflygrl Posted: Oct 06, 2003 10:41 AM

Re: Need some advice

We never have any extra money! We'll probably end up taking a last minute loan to cover the wedding and depending on our situation, might end up living with his parents for awhile. UGH.

Fran M Posted: Oct 06, 2003 10:42 AM

Re: Need some advice

Housing vs some extras at the wedding.
I would go for the housing - you need a room over your heads.
The wedding is Important but it is only one day of your life.

neesiepie Posted: Oct 06, 2003 10:50 AM

Re: Need some advice

GET THE HOUSE! My man just bought his own townhouse last november and someone in the complex is now selling their townhouse for 70K MORE than what he paid......and that's UNDER a year later. PLUS...the community just became gated....which raises the value a LOT...so you never know how drastically the prices might go up or down.

jvs77 Posted: Oct 06, 2003 10:56 AM

Re: Need some advice

If you love it - definitely go for the town house. It is so incredibly rare in today's housing market to get a home below market value! Prices are so inflated, it's ridiculous! Deals like this do not come around often, if you love it - snatch it up!! You will not regret it!

Good luck!!

bridget&jimmy Posted: Oct 06, 2003 11:50 AM

Re: Need some advice

I will let you girls know what happens we are going to look at it on Wednesday.

Bridget

pschica Posted: Oct 06, 2003 12:33 PM

Re: Need some advice

goo dluck - let us know how it goes!!

peabody Posted: Oct 06, 2003 12:42 PM

Re: Need some advice

I am not saying its's not hard saving for a wedding and owning a house, but we wouldn't have done it any other way.

We set up a plan to put away a certain amount of $$ a month after the mortgage, electric, phone, cable and H2O is paid. What is tough is when you have those extras on certain months like, when you have a birthday or wedding that you need that $$ to buy or give as a gift.

Some people thought we were crazy buying a house before getting engaged, but we truly believe it was the best decision we ever made. This is just my opinion and is based on my experience.

Good luck and let us know how it goes!

heidla Posted: Oct 06, 2003 01:10 PM

Re: Need some advice

We actually just bought a coop in the city and debated the same issues. We finally came to the conclusion that having a home was worth the extra effort that would have to be put in finacially to the wedding. We now have a great place that we are making ours. I have taken another job to help us afford our wedding. It is difficult but I am so happy with the decision we made. Hope this helps.

peeweesgirl Posted: Oct 06, 2003 01:25 PM

Re: Need some advice

either you spend the money now and sacrafice, or after the wedding you will be paying rent and having a hard time saving as well at leat you can get that over with and if it is a good price most likely you will be hapy in the end. Good Luck

shelzyp Posted: Oct 06, 2003 01:27 PM

Re: Need some advice

If the hosue is bleow the market value, I would get the house, and then if you don't ahve the monye for the wedding, try to cut corners on teh wedding instead. THe house is more important.