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Old 01-06-2013, 11:31 PM   #32
theonenonlymrssmith's Avatar
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Originally Posted by sojomisa
I don't understand the house poor thing either. House poor to me means that after I pay the mortgage that I don't have enough or just enough to pay the rest of the bills. We are not house poor although we do live in a house that is way too small for us. But our kids don't want to move they like their schools, friends, and activities, go figure.

In our situation paying $100 more a month wouldn't make us house poor and we would definitely do it to get our dream home! On thing that sticks out is you're going from a apartment to a home so utilities will be higher than you're paying now. Additionally, I don't know where you are but you mention the fires, my very good friend just moved back home to Colorado Springs and was stunned at the home owners insurance rates due to the fires. She said some companies weren't insuring the wood roofs or were charging a significant amount for the policy that included the roof. She got quotes anywhere from $1200-$3000, I never did find out what she ended up paying as they wouldn't give her a definitive rate until they ran their credit and she wanted to hold off on the pull until underwriting was done.

Good luck!
Thanks for chiming in! I will definitely call and be verifying insurance before we make an offer. We are in colorado, so that is definitely something we will have to check into.
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