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re: Every time I passed on a real estate purchase because the price was too high...
Posted on 10/12/23 at 12:29 pm to Chef Curry
Posted on 10/12/23 at 12:29 pm to Chef Curry
quote:
Therefore, why would I stretch my budget banking on a lower note at some undetermined time in the future?
I never once implied anyone should stretch their budget, I actually said the opposite. Buy what you can afford (what you can afford is what you can afford).
1
Posted on 10/12/23 at 12:50 pm to Epic Cajun
Bought first house in 2007 right before countrywide went BR. 0 down. 100% finance. Mtg rate was 5ish
Flooded in 16. Got sba 2nd lein as well as insurance money.
Sold home in 2020 for 40k more than purchase price with a principal balance reflective of 13 yrs of mtg payments.
Bought upgraded home that didnt flood and was remodeled . New mtg rate 2.85% for 25. Our house had sold in 2018 to the remodelers for like 50 or 7p less and took some heat for paying "that much"
Fast Fws to today..home is 40k valuation more than we paid in 3yrs instead ok 17 and the rate would be in the 7s
We could absolutely not afford it today. I am fully aware of how fortunate we were and would never ever swll what we have in this current market
Im a millenial :)
Flooded in 16. Got sba 2nd lein as well as insurance money.
Sold home in 2020 for 40k more than purchase price with a principal balance reflective of 13 yrs of mtg payments.
Bought upgraded home that didnt flood and was remodeled . New mtg rate 2.85% for 25. Our house had sold in 2018 to the remodelers for like 50 or 7p less and took some heat for paying "that much"
Fast Fws to today..home is 40k valuation more than we paid in 3yrs instead ok 17 and the rate would be in the 7s
We could absolutely not afford it today. I am fully aware of how fortunate we were and would never ever swll what we have in this current market
Im a millenial :)
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