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Group: Forum Members
Last Login: 8/7/2008 7:57:31 AM
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| I know there was a thread on this before - but its gone now. Wondering what peoples thoughts on this are? Would you get one if it meant getting into a house or not?
- ~Married my best friend on May 31st 2008
 ~ - ~Bought our home July 31st 2008~
- ~TTC is TBD
 ~
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Group: Forum Members
Last Login: 8/5/2008 11:51:11 PM
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I personally wouldn't simply because of the interest. By the end of it, you'll probably pay triple what your purchase price was.
~Oct. 28th 2006 - The Deal Is Done~
http://angandrick.weddingannouncer.com
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Group: Forum Members
Last Login: Today @ 3:22:20 PM
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i would. i can stand living in a condo anymore and i want a house. you can always remortgage later and depending on where you are and what bank you go through your interest rates may not be that bad. who knows when the housing market is going to come down, it may not for 5 or 10 years. i'm not willing to wait that long to get a house and start a family.
~Adrienne~
Finally got hitched September 2, 2007
I have flying monkeys and I'm not afraid to use them!!!! 
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Group: Forum Members
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| FH and i are doing a 30 year mortgage......we can afford a 25 year mortgage but..being as we are a first time home buyer...we arent sure what expenses to expect and really just want to have an extra safe cushion which....when we dont know what to expect.....is exactly what i need to just feel that little bit safer... just a note to people who said they would refinance.......we were told by our mortgage broker that if you decide in 6 years you want to refinance your home...it can be a costly process....any changes made to the length of your mortgage have to be done through a lawyer.....so...it costs some money to get it done.....what we are planning on doing is just keeping our mortgage payments the same....for as long as we can...so..once we refinance in 5 years....your mortgage payments could go down...because you are paying on less....but we are just gonna keep the payments the same...so you can pay it off at an accelerated rate....something to think about........ as you can see i thought lots about this and...i think as long as you understand all the pros and cons......owning a home however you can is a great investment!!
Chulie ~Countdown to November 1,st 2008~
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Group: Forum Members
Last Login: 8/7/2008 7:57:31 AM
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butterpurp (5/26/2008)
Ours is 35 right now, just so we could get our feet in the door (OF A HOUSE!)... In another 4 years (and a bit) when it's time to refinance, we plan on going a lot lower, but right now with car payments, student debts and the work we needed to put in the house, a 35 year made more sense. We would have been paying a crapload more in wasted rent money... and I effing hate apartment buildings... so why not BUY a house where our mortgage is a heck of a lot cheaper than rent in a crappy one bedroom apartment? We might pay a bit more for the house (seeing as in 5 years we'll have only paid a few thousand towards the principal), but we chose a house that WASN'T way out of our price range to begin with. I think if you're responsible - then it's all good. It's those who are buying half a million dollar homes (that they can't possibly afford) who are going to get screwed by the interest rates possibly going up a lot at some point... I like this idea of doing it just to get in and going lower later. Thats what I'm thinking we should do
- ~Married my best friend on May 31st 2008~
- ~Bought our home July 31st 2008~
- ~TTC is TBD~
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Group: Forum Members
Last Login: 7/7/2008 2:29:07 PM
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I would because I think the longest I would live in a house might be 10 years, then I would be getting a new mortgage anyways, so its not like I would actually pay all that interest. I would also try and put extra money down every year, no matter what length my mortgage was.
Love makes life a paradise Married on Paradise Island April 25, 2008 At Home Reception May 24, 2008
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