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Scarlett
Participant[quote=UCguy]Here is another reason why to buy – giving our age.
We could choose to give away money to pay PMI for 7-8 years – 38.5 K total over 7.5 years or, to pay rent – 26K per year, times 2.5… > 55K.
[/quote]I think it’s incomplete calculation. Take into account that in those 2.5 years you will pay, what, $1000/mo LESS on housing if you rent. Plus you don’t have to pay any maintenance, higher utilities, HOA, MR, etc.
Participant[quote=UCguy]Here is another reason why to buy – giving our age.
We could choose to give away money to pay PMI for 7-8 years – 38.5 K total over 7.5 years or, to pay rent – 26K per year, times 2.5… > 55K.
[/quote]I think it’s incomplete calculation. Take into account that in those 2.5 years you will pay, what, $1000/mo LESS on housing if you rent. Plus you don’t have to pay any maintenance, higher utilities, HOA, MR, etc.
Participant[quote=UCguy]Here is another reason why to buy – giving our age.
We could choose to give away money to pay PMI for 7-8 years – 38.5 K total over 7.5 years or, to pay rent – 26K per year, times 2.5… > 55K.
[/quote]I think it’s incomplete calculation. Take into account that in those 2.5 years you will pay, what, $1000/mo LESS on housing if you rent. Plus you don’t have to pay any maintenance, higher utilities, HOA, MR, etc.
Participant[quote=UCguy]Here is another reason why to buy – giving our age.
We could choose to give away money to pay PMI for 7-8 years – 38.5 K total over 7.5 years or, to pay rent – 26K per year, times 2.5… > 55K.
[/quote]I think it’s incomplete calculation. Take into account that in those 2.5 years you will pay, what, $1000/mo LESS on housing if you rent. Plus you don’t have to pay any maintenance, higher utilities, HOA, MR, etc.
Participant[quote=UCguy]Here is another reason why to buy – giving our age.
We could choose to give away money to pay PMI for 7-8 years – 38.5 K total over 7.5 years or, to pay rent – 26K per year, times 2.5… > 55K.
[/quote]I think it’s incomplete calculation. Take into account that in those 2.5 years you will pay, what, $1000/mo LESS on housing if you rent. Plus you don’t have to pay any maintenance, higher utilities, HOA, MR, etc.
ParticipantHey, you are doing very well for this stage in life. You can do either. I would start looking and focusing on the areas you want – and hold yourself to NOT fall in love with a house the first 6 months when you are looking. It will be HARD if this is the first you are doing this. Or if you fall in love, do not put an offer. Really it’s for the best in long term. (There are some rare exceptions, i admit.)You have to really know what you want, and there is such a diversity of houses out there that you wouldn’t know what you want until you see a lot of different types. With townhouses, it narrows it down quite bit in CV,but, if I’d be in your shoes I’d buy a detached house in PQ. Have you considered Scripps Ranch?
As I said on the other thread mentioned here – I’d borrow 5% from 401k to come with 20% down and keep some cash on hand.
Your search may last for a year or more – time in which you’d keep saving money. So I wouldn’t worry about how much to wait and where to get your last 5% for down. Start looking NOW. After 6 months of ACTIVELY looking thru a lot of houses you’ll be much more selective and you’ll know when you found what you wanted.
Another piece of advice – with kid(s) – which are expensive – and your income (identical to ours) – I’d stay under 550K even if you put 20% down. – you can get a good size nice house in PQ with 4 bdr for that.
Best of luck!!!
ParticipantHey, you are doing very well for this stage in life. You can do either. I would start looking and focusing on the areas you want – and hold yourself to NOT fall in love with a house the first 6 months when you are looking. It will be HARD if this is the first you are doing this. Or if you fall in love, do not put an offer. Really it’s for the best in long term. (There are some rare exceptions, i admit.)You have to really know what you want, and there is such a diversity of houses out there that you wouldn’t know what you want until you see a lot of different types. With townhouses, it narrows it down quite bit in CV,but, if I’d be in your shoes I’d buy a detached house in PQ. Have you considered Scripps Ranch?
As I said on the other thread mentioned here – I’d borrow 5% from 401k to come with 20% down and keep some cash on hand.
Your search may last for a year or more – time in which you’d keep saving money. So I wouldn’t worry about how much to wait and where to get your last 5% for down. Start looking NOW. After 6 months of ACTIVELY looking thru a lot of houses you’ll be much more selective and you’ll know when you found what you wanted.
Another piece of advice – with kid(s) – which are expensive – and your income (identical to ours) – I’d stay under 550K even if you put 20% down. – you can get a good size nice house in PQ with 4 bdr for that.
Best of luck!!!
ParticipantHey, you are doing very well for this stage in life. You can do either. I would start looking and focusing on the areas you want – and hold yourself to NOT fall in love with a house the first 6 months when you are looking. It will be HARD if this is the first you are doing this. Or if you fall in love, do not put an offer. Really it’s for the best in long term. (There are some rare exceptions, i admit.)You have to really know what you want, and there is such a diversity of houses out there that you wouldn’t know what you want until you see a lot of different types. With townhouses, it narrows it down quite bit in CV,but, if I’d be in your shoes I’d buy a detached house in PQ. Have you considered Scripps Ranch?
As I said on the other thread mentioned here – I’d borrow 5% from 401k to come with 20% down and keep some cash on hand.
Your search may last for a year or more – time in which you’d keep saving money. So I wouldn’t worry about how much to wait and where to get your last 5% for down. Start looking NOW. After 6 months of ACTIVELY looking thru a lot of houses you’ll be much more selective and you’ll know when you found what you wanted.
Another piece of advice – with kid(s) – which are expensive – and your income (identical to ours) – I’d stay under 550K even if you put 20% down. – you can get a good size nice house in PQ with 4 bdr for that.
Best of luck!!!
ParticipantHey, you are doing very well for this stage in life. You can do either. I would start looking and focusing on the areas you want – and hold yourself to NOT fall in love with a house the first 6 months when you are looking. It will be HARD if this is the first you are doing this. Or if you fall in love, do not put an offer. Really it’s for the best in long term. (There are some rare exceptions, i admit.)You have to really know what you want, and there is such a diversity of houses out there that you wouldn’t know what you want until you see a lot of different types. With townhouses, it narrows it down quite bit in CV,but, if I’d be in your shoes I’d buy a detached house in PQ. Have you considered Scripps Ranch?
As I said on the other thread mentioned here – I’d borrow 5% from 401k to come with 20% down and keep some cash on hand.
Your search may last for a year or more – time in which you’d keep saving money. So I wouldn’t worry about how much to wait and where to get your last 5% for down. Start looking NOW. After 6 months of ACTIVELY looking thru a lot of houses you’ll be much more selective and you’ll know when you found what you wanted.
Another piece of advice – with kid(s) – which are expensive – and your income (identical to ours) – I’d stay under 550K even if you put 20% down. – you can get a good size nice house in PQ with 4 bdr for that.
Best of luck!!!
ParticipantHey, you are doing very well for this stage in life. You can do either. I would start looking and focusing on the areas you want – and hold yourself to NOT fall in love with a house the first 6 months when you are looking. It will be HARD if this is the first you are doing this. Or if you fall in love, do not put an offer. Really it’s for the best in long term. (There are some rare exceptions, i admit.)You have to really know what you want, and there is such a diversity of houses out there that you wouldn’t know what you want until you see a lot of different types. With townhouses, it narrows it down quite bit in CV,but, if I’d be in your shoes I’d buy a detached house in PQ. Have you considered Scripps Ranch?
As I said on the other thread mentioned here – I’d borrow 5% from 401k to come with 20% down and keep some cash on hand.
Your search may last for a year or more – time in which you’d keep saving money. So I wouldn’t worry about how much to wait and where to get your last 5% for down. Start looking NOW. After 6 months of ACTIVELY looking thru a lot of houses you’ll be much more selective and you’ll know when you found what you wanted.
Another piece of advice – with kid(s) – which are expensive – and your income (identical to ours) – I’d stay under 550K even if you put 20% down. – you can get a good size nice house in PQ with 4 bdr for that.
Best of luck!!!
ParticipantThose are pretty tough. But they make sense. The refi though will be tough too. So, are those new rules to be applied ( if approved) in summer. They will slowly, slowly decrease the prices by limiting further the pool of conventional buyers…
The sooner they get it all out and bring the market to more normal level, the better.ParticipantThose are pretty tough. But they make sense. The refi though will be tough too. So, are those new rules to be applied ( if approved) in summer. They will slowly, slowly decrease the prices by limiting further the pool of conventional buyers…
The sooner they get it all out and bring the market to more normal level, the better.ParticipantThose are pretty tough. But they make sense. The refi though will be tough too. So, are those new rules to be applied ( if approved) in summer. They will slowly, slowly decrease the prices by limiting further the pool of conventional buyers…
The sooner they get it all out and bring the market to more normal level, the better.ParticipantThose are pretty tough. But they make sense. The refi though will be tough too. So, are those new rules to be applied ( if approved) in summer. They will slowly, slowly decrease the prices by limiting further the pool of conventional buyers…
The sooner they get it all out and bring the market to more normal level, the better. -
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