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XOXO
Member since
Re: Planning
That sounds like a great idea!! Don't listen to the people who say that you should not put that much down b/c you won't get as much of a deduction. Sometimes i don't get those people. I would rather have a low mortgage and less interest than a high mortgage and more interest to write off.
People don't realize how much they actually pay for the house after putting down 10% and paying a 30 year mortgage. Let's say that 2 couples each buy a house for $350,000 and are going to pay 6% interest. At the end of 30 years the couple that put 10% down ended up paying $714,890 for their house ($364,890 in interest) and the couple that put $250,000 down is only going to end up paying $465,838 for the house ($115,838 in interest).
Now ask the people who are saying that whether they would want to pay $714,890 or $465,838 for a $350,000 house and see which price they pick.
People don't realize how much they actually pay for the house after putting down 10% and paying a 30 year mortgage. Let's say that 2 couples each buy a house for $350,000 and are going to pay 6% interest. At the end of 30 years the couple that put 10% down ended up paying $714,890 for their house ($364,890 in interest) and the couple that put $250,000 down is only going to end up paying $465,838 for the house ($115,838 in interest).
Now ask the people who are saying that whether they would want to pay $714,890 or $465,838 for a $350,000 house and see which price they pick.
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Re: Planning
It depends on the situation. We were able to live with my mother for a year and a half to save money. We did not have our own apatment in the house so i didn't want to stay anymore. It is better to buy (even if you start out smaller than you want) than paying $1300 in rent. However, you do what you can afford. Some people have to rent because they can't make a $2100 mortgage payment. In your case in pays to do what you are doing, for others it would take so long to save up that amount of money that it is just not worth it
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Re: Planning
The only bills we will have are car insurance, groceries, etc. No rent, no car payments, or anything else. When we thought of our plan it almost sounded too easily, and that is why I was worried. Luckily we are not big spenders and are low maintenance, so we should be able to do it. AS LONG AS MY PARENTS DON'T DRIVE US NUTS!
Member since
Re: Planning
We have been living with our parents(separately) for 5 1/2 years, it was the best thing we ever did. I wanted to get an appartment so many times, but we stuck it out. Now we are buying a house! I highly recomend it, you can save soooooo much, especially if you can eat their food sometimes!![]()
Hey! My Fiance is a truck driver too! He owns a car transport company and drives a tracter trailer. What types of trucks does he drive?
Good luck!
Hey! My Fiance is a truck driver too! He owns a car transport company and drives a tracter trailer. What types of trucks does he drive?
Good luck!
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Re: Planning
We are putting down 20%. Since we never had rent to pay, we were able to save for it.
That on top of the fact that we don't have a life.![]()
That on top of the fact that we don't have a life.
Member since
Re: Planning
You too? I thought we were the only ones without a life.
Now our house has become our life. Every weekend i say that i am going to lay in the pool and relax and then i find another thing i want to change.
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Now our house has become our life. Every weekend i say that i am going to lay in the pool and relax and then i find another thing i want to change.
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