Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

If you were going to build a nice home for your family, or self wwyd?

What financial foothold do you have? Are you saving to pay off half? Does the home need to be brand new? Does it have to be 2 levels? Is the land more than the home $$ ? Have you even priced just new windows yet? Why is it such a huge undertaking when home ownership leads to home improvement? Can't an improvement just be a mend type of task for now, than later add more if desired / until complete?

Answer Question
 
Anonymous

Asked by Anonymous at 12:38 AM on Oct. 20, 2010 in Home & Garden

Answers (10)
  • this question is kinda all over the place, just what are you asking exactly? there are so many factors involved in buying a home, which are completely different from building a home.
    A home is a liability, too many people consider it an investment only and take the responsibility of it too lightly.
    jewjewbee

    Answer by jewjewbee at 8:16 AM on Oct. 20, 2010

  • I know a couple who started out buying a nice piece of land in a good area of town. They paid on that for a year or two, then built the garage first; 3-bay, with an apartment over it. Once that was paid off (I think it took them 2 years), they got a mortgage for the building of the main house. They ended up with a $750,000 home (current appraisal) with a mortgage on only $200,000.
    Scuba

    Answer by Scuba at 9:33 AM on Oct. 20, 2010

  • I gave you advice for SAVING for a home over at the Politcs and Current Events area ....have you returned to read it?
    Chose a home that has newer mechanicals, lower mortgage payment, no obvious defects that will be costly to fix and in a good school district. Try to put down 20% so that you won't need "mortage insurance".
    kerp1960

    Answer by kerp1960 at 11:40 AM on Oct. 20, 2010

  • Yeah, i don't know what you are asking, either.
    lovinangels

    Answer by lovinangels at 11:49 AM on Oct. 20, 2010

  • What financial foothold do you have?a good one. Are you saving to pay off half? No and we are moving and plan to get a 15 yr. mortgage instead of a 30. Does the home need to be brand new? No, it doesn't have to be. Does it have to be 2 levels? No. Is the land more than the home $$?Not by a long shot. Have you even priced just new windows yet? No, current house doesn't need new windows and I haven't found a house on the other end yet.

    QuinnMae

    Answer by QuinnMae at 12:02 PM on Oct. 20, 2010

  • Why is it such a huge undertaking when home ownership leads to home improvement? It's much like maintaining a car. To keep it nice, you have to keep it up. Can't an improvement just be a mend type of task for now, than later add more if desired / until complete?If you so choose. Some homeowners needs change and it might be less expensive for them to make a large improvement instead of selling at a loss in a down market and trying to get what they want in another property.

    QuinnMae

    Answer by QuinnMae at 12:07 PM on Oct. 20, 2010

  • Home ownership isn't for everyone. If you aren't prepared to take responsibility for the repairs and maintenance of a property then it's wise to rent instead. If one becomes a homeowner and does not maintain their property, in the end the required repairs may end up costing more than you have invested into your house and at that point you are upside down in your mortgage. I will say though, that while there are many little things to keep up on, we (meaning me) are able to keep up on it by doing many things ourselves.
    QuinnMae

    Answer by QuinnMae at 12:07 PM on Oct. 20, 2010

  • Thanks . The answers are real, yes, I can see where one does need 20% down. However, my first marriage the house was in serious disrepair, it was newer, but like 1,000's + more of homes in serious condition, these all were in a time period when so much more available accessible or desirable jobs were out there. I see as a mom, it's not a concern, that I need to have a prestigious life as much as food, fresh clean clothes, and a working washer. (dryer if possible) but what i see is so many others that have nothing, and I don't own or have much, so I relate to this much easier than any home owner. If they are wrapped into payments who else can they help in this world. THAT is my point. Governments and baking systems are over the top. It's times they tried something different.
    coffeeyum

    Answer by coffeeyum at 12:20 PM on Oct. 20, 2010

  • If they are wrapped into payments who else can they help in this world. THAT is my point.

    ***
    Really? THIS is what you point is? That because some people choose to live in "opulent" homes (which is subjective), that they don;t have enough to HELP those who don't have much?! Seriously?! So we should all live in a shack down by the river, even if we can afford better, so we can fork over OUR MONEY to those who want the benefits, but don't want to work as hard?

    That would be socialism/communism. And there are PLENTY of OTHER countries in this world who think it is just a fabulous way of life! I suggest you go there!
    LoriKeet

    Answer by LoriKeet at 7:19 PM on Oct. 20, 2010

  • We bought an older home (100 years old) and are renovating it, so no, it does not have to be new. New windows cost us as much as the house did, so yes, we have looked into it and they are not cheap. We bought the house outright, no mortgage company so we saved 100% of the purchase price before buying it. Our home is two story, did it have to be, no, but that's the way it came. If you own your home you can do as little or as much improvement as you want, provided you stay within the codes of where you live. If you want to own a home but not take care of it you might want to move to the back country so no one (city, housing authority, etc) is telling you what to do. But really, why invest in a home and then not take care of it?

    scout_mom

    Answer by scout_mom at 2:45 PM on Oct. 23, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.
close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN