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re: In the market for a house...
Posted on 5/8/24 at 11:23 am to jlovel7
Posted on 5/8/24 at 11:23 am to jlovel7
Keep renting and saving cash for at least 20% down and try to do a 15 year mortgage. No rush to get into a place in this market. You're better off renting for sure especially with the way you guys are contributing to retirement and debt free. Congratulations on that!
3
Posted on 5/8/24 at 11:23 am to LoneStar23
15 year mortgage is dead, nobody can afford those now based on home prices
Posted on 5/8/24 at 11:24 am to LoneStar23
quote:
Keep renting and saving cash for at least 20% down and try to do a 15 year mortgage. No rush to get into a place in this market.
The calculations on the previous page had him at about $1,500 a month all in.
He also posted this in the OP
quote:
Currently paying $1950 a month for rent at our townhouse.
He would be able to save more and live a better lifestyle if he bought.
I'm doing the same thing right now in terms of looking for a house to buy, and the math is pretty much always where my monthly payment would be, all in, for the house vs what we're currently paying in rent. And for the time being that math is not in favor of buying.
This post was edited on 5/8/24 at 11:26 am
Posted on 5/8/24 at 11:26 am to LoneStar23
quote:
Keep renting and saving cash for at least 20% down and try to do a 15 year mortgage.
OP looks forward to becoming a homeowner in 2040.
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