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How do You Feel about Bying a House???

The SUV I can see doing that, but a house that is almost a BIG no. While looking I see so many foreclosures and short sales. With the gas prices going up companies already saying they need to let people go. Condos going for 300k plus for a 2bd 2bath. Once burned twice shy. A 30yr mortgage with a job that does not last but a few years is a deal breaker for me.

 
sweet11-12

Asked by sweet11-12 at 1:12 AM on Apr. 22, 2011 in Money & Work

Level 15 (2,314 Credits)
This question is closed.
Answers (14)
  • As soon as I have enough money, I've already picked out my home.
    Dreamachiever

    Answer by Dreamachiever at 1:27 AM on Apr. 22, 2011

  • I'm a stay at home mom and although my husband has never been withour a job for more than a weekend, I refuse to buy until I'm done with college and we have two incomes coming in. At least with renting, and we've got a good rental agency that takes care of the problems, it saves us alot in the long run. Like last winter having the duct work redone, this spring having to run new plumbing, we dealt with the problems they caused, but they paid for the repairs. Nothing we could have ever been able to afford on our income. I refuse to buy until we have two incomes. :)
    KariLyn84

    Answer by KariLyn84 at 1:26 AM on Apr. 22, 2011

  • We own now and are looking to buy another(after we sell). 1 huge reason for us to buy is that there is NOTHING in the area we need that is big enough for our family. Another big reason for us to buy is that the rent would be more than the mortgage payments so we'd save money.

    how_reb

    Answer by how_reb at 1:28 PM on Apr. 22, 2011

  • Our home is paid for. We just pay our taxes and insurance.
    SeasideNative

    Answer by SeasideNative at 1:18 AM on Apr. 22, 2011

  • I wish I could! I dream about owning a house.
    GomezMami2908

    Answer by GomezMami2908 at 1:20 AM on Apr. 22, 2011

  • I think it is still the best buffer against taxable income.
    tasches

    Answer by tasches at 5:23 PM on Apr. 25, 2011

  • its better than renting but you want to buy in a buyers market not sellers...around here now you can get good deal I am not in a position to buy myself but i wish!
    Anonymous

    Answer by Anonymous at 1:16 AM on Apr. 22, 2011

  • I need to be practical at least for now
    sweet11-12

    Comment by sweet11-12 (original poster) at 1:24 AM on Apr. 22, 2011

  • Realtor advise is to save save save I would need a huge buffer to even try and to see how this job works out, if the company can survive the economy. As we speak helping SO work late to impress, so far they are really happy with the work. I did up the deductions to 10 for just 2 months to see what happens.
    sweet11-12

    Comment by sweet11-12 (original poster) at 1:38 AM on Apr. 22, 2011

  • Maybe now's not the time but it can be done. We own our house outright, never had a 30-year mortgage (had a 15-year one that we paid off in 10), took into consideration that either of us could lose our jobs or have some kind of disaster (medical or whatever) that might make it difficult to keep up with the mortgage so we always made a point of having a certain amount in savings. We lived below our means for years but never felt it was a sacrifice because we still had everything we needed/wanted, still vacationed, still funded our kids colleges and our retirements, etc. I might rule it out for now but not forever.
    Anonymous

    Answer by Anonymous at 9:08 AM on Apr. 22, 2011