Thanks for the feedback. I am in my early thirties and raising a young family. One side note is that my job is pretty secure and I do have experience renovating houses. I have recently worked on a 90 yr old house close to downtown Houston and should do well on the sale of that one. So I have the capability to put in some work to fix up a house. But with a second child on the way it may be tougher to put in a similar amount of time on my next house. The thing that is tempting though is the lower price and the 15 year loan possiblity. I have thought about doing a 30 yr and paying extra but theres also the benefit of the lower rate with that 15 yr loan.

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Posted by NC_Tigah

Carolinas

Member since Sep 2003

124174 posts

Posted on 4/5/10 at 12:36 pm to lsugradman

quote:
Thanks for the feedback. I am in my early thirties and raising a young family. One side note is that my job is pretty secure and I do have experience renovating houses. I have recently worked on a 90 yr old house close to downtown Houston and should do well on the sale of that one. So I have the capability to put in some work to fix up a house. But with a second child on the way it may be tougher to put in a similar amount of time on my next house. The thing that is tempting though is the lower price and the 15 year loan possiblity. I have thought about doing a 30 yr and paying extra but theres also the benefit of the lower rate with that 15 yr loan.

I'm sure you've done this, but look at school districts as well as kid-friendliness of the surrounding neighborhood. That could eventually impact your children a heck of a lot more than initial differences in home cost. And BTW, it's not always the most expensive home that will punch that ticket.

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