Talk me through the basics

christy Posted: Feb 19, 2005 03:37 PM

Talk me through the basics

Ok, I own a condo...but when I sell it to buy a house (in the future) can I use the money I make on the condo as the down payment, or should I have additional money saved up toward the downpayment as well? Just trying to figure out what to save up for in the future.

lorimari Posted: Feb 19, 2005 08:32 PM

Re: Talk me through the basics

Hi Christy!

I would save some additional money just to be on the safe side. Figure if you don't use the money for the actual purchase you can use it for renovations and furniture.

christy Posted: Feb 19, 2005 08:45 PM

Re: Talk me through the basics

Posted by lorimari

Hi Christy!

I would save some additional money just to be on the safe side. Figure if you don't use the money for the actual purchase you can use it for renovations and furniture.

Thanks Lori.
That is what I figured. I am already thinking about the whole house thing, though I will probably live here for a while longer. Oh by the way, your little one is sooooooo cute!!!! How is the mommy life treating you???

palebride Posted: Feb 19, 2005 09:10 PM

Re: Talk me through the basics

Christy,
Same advice as Lori .
It's better to be on the safe side of things and have money on the side and not rely just on your condo money.
We're in the same situation, and we're saving for a house in the future.....