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Originally Posted by NoSoup
A few questions for you -
Where are you currently living - what is your current rental/mortgage expense?
Are you vehicles currently paid off, if not, what are the payments?
Are you happy with where you currently are living (could you put up with it for another four or five years?)
What is the price of the average newer home in the area?
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Currently living in an apt, rent is $1400/month. Can't get lower than that in this area and can't move to another area due to my wife and I commuting 25 (her) and 35 (me) miles each way in opposite directions to work.
One car is paid off, the other has less than $3000 left will be paid in a year.
Yep, happy with where we live. No need to move and moving isn't really an option.
New homes here start at $650 000. I wish.
hawker: does it really? I mean the amount of loan scares me but does it look like it's under control? Do the financials make sense?
BTW, not really up from $300k. I imagine a peak of around $400k but that'll take a few years. I should get to $300k within 3-5 years.
Thanks, I appreciate the responses.