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Message
Going against the grain: purchasing a reasonable home versus the OT special
Posted on 3/23/15 at 8:29 pm
Posted on 3/23/15 at 8:29 pm
Well, we decided to purchase a reasonable/functional home and not the higher end show piece.
While we could've gone significantly higher and were approved to do so, we opted for more discretionary income for play or savings.
Anyone else get temped by the darkside?
While we could've gone significantly higher and were approved to do so, we opted for more discretionary income for play or savings.
Anyone else get temped by the darkside?
29
Posted on 3/23/15 at 8:30 pm to CharlesLSU
nb4sorryurpoor
Posted on 3/23/15 at 8:31 pm to RATeamWannabe
Just did the same. It's nice having a home I'm plenty comfortable in and still being able to do whatever I wanr
Posted on 3/23/15 at 8:31 pm to RATeamWannabe
Reasonable was still notable
The idea was to not depend on dual incomes........if someone takes a time out, we will still be fine.
This post was edited on 3/23/15 at 8:33 pm
Posted on 3/23/15 at 8:32 pm to CharlesLSU
We bought more lights, especially for the bushes. 
Posted on 3/23/15 at 8:32 pm to CharlesLSU
Being tempted as we speak. Wanted to look at a house priced at $350/sqft.
Something is wrong with me.
Something is wrong with me.
Posted on 3/23/15 at 8:33 pm to CharlesLSU
quote:
Well, we decided to purchase a reasonable/functional home and not the higher end show piece.
While we could've gone significantly higher and were approved to do so, we opted for more discretionary income for play or savings.
Congrats, your a step ahead of the rest of thse clowns.
Posted on 3/23/15 at 8:34 pm to CharlesLSU
I was given a house. That's cool too.
Posted on 3/23/15 at 8:34 pm to CharlesLSU
We bought at about 60% of what we were approved for.
Posted on 3/23/15 at 8:36 pm to CharlesLSU
This is a relative question. When you say reasonable, how would you define that mark? Let's say in terms of house note as a percent of gross monthly income.
I'm looking at homes now that would be about 15%. What say you?
I'm looking at homes now that would be about 15%. What say you?
Posted on 3/23/15 at 8:36 pm to GRTiger
Almost exactly the same here.
Posted on 3/23/15 at 8:37 pm to CharlesLSU
quote:
While we could've gone significantly higher and were approved to do so, we opted for more discretionary income for play or savings.
My wife and I did the same thing.
We sold our 3200 Sq ft house and downsized to a 2400, brand new one. We honestly don't even notice the size difference. We basically gave up a fourth bedroom, formal dining room, and a theater room. We still have a huge game room.
With what I made selling my home I have cut my mortgage in half. It was all spurred by my wife having kid #2 and us wanting her to stay home. We could have afforded the old house or something bigger than what we bought but we preferred to have extra fun money instead of being house poor like some of our friends who can't do shite other than pay a mortgage.
My house note is now 14% of my gross. 21% if you include taxes.
This post was edited on 3/23/15 at 8:42 pm
Posted on 3/23/15 at 8:37 pm to dale10
quote:
This is a relative question. When you say reasonable, how would you define that mark? Let's say in terms of house note as a percent of gross monthly income.
I'm looking at homes now that would be about 15%. What say you?
16%
This post was edited on 3/23/15 at 8:39 pm
Posted on 3/23/15 at 8:40 pm to CharlesLSU
Nah
This post was edited on 3/23/15 at 11:18 pm
Posted on 3/23/15 at 8:40 pm to CharlesLSU
It is mind boggling to me what people will do to keep up with the Joneses. I can't imagine what goes through those people's heads at night when they lay their heads on the pillow and think about the hole they have dug for themselves.
Posted on 3/23/15 at 8:42 pm to CharlesLSU
I'm buying a house soon at 40% of what I was approved for. Fixer house on a badass piece of property.
I'm a 25 year old single guy. I could live in a refrigerator box.
I'm a 25 year old single guy. I could live in a refrigerator box.
Posted on 3/23/15 at 8:43 pm to CharlesLSU
No worries man, lots of people can afford Lamborghini but go with a Honda Accord so they can have more discretionary income for play or savings.
Posted on 3/23/15 at 8:43 pm to CharlesLSU
Well my house note is about 7% of my gross so I could probably afford something a little more expensive.
Posted on 3/23/15 at 8:44 pm to GEAUXT
quote:
It is mind boggling to me what people will do to keep up with the Joneses. I can't imagine what goes through those people's heads at night when they lay their heads on the pillow and think about the hole they have dug for themselves.
It really is. I was chatting the the sales guy for the neighborhood and my wife and I were a rarity. He said he commonly has people paying $300 in PMI a month. He has seen it in all communities he's working in. High end and low.
I don't pay any of that so it's nice. I was paying like forty a month at the old house.
This post was edited on 3/23/15 at 8:46 pm
Posted on 3/23/15 at 8:45 pm to CharlesLSU
Hell, I have been seriously considering a "tiny" house. I won't live in a 200 sq ft like some people do but I have been looking at some options.
At the very least, I will build a shop with a house in it.
I just want to cut back and save so I'm not working to pay for shite I don't need or use.
At the very least, I will build a shop with a house in it.
I just want to cut back and save so I'm not working to pay for shite I don't need or use.
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