Reply Hey Mom! Learn more about the Gerber Life Insurance Grow-Up Plan!
 
Thread Tools Display Modes
Old 01-06-2013, 09:35 PM   #11
theonenonlymrssmith's Avatar
theonenonlymrssmith
Poet Laureate
 
Join Date: Aug 2011
Posts: 4,309
Quote:
Originally Posted by igotmywings
honestly if its only $100 more per month then your apartment I would go for it. BUT are the utility bills going to be about the same? I only say that because our utility bill in our apartment was way different then our utility bill in our house. PLUS does the $100 extra include escrow? (meaning taxes and insurance on the home).
We over estimated utilities into our mock budget, but honestly it shouldn't change much. It runs off our own well water, and we will be ideally using mostly wood burning stoves for heat. Wood is free around here from all the fires that happened as long as you haul it away!

Advertisement

theonenonlymrssmith is offline   Reply With Quote
Old 01-06-2013, 09:37 PM   #12
CarrieMF's Avatar
CarrieMF
Registered Users
 
Join Date: Apr 2006
Location: Alberta/Saskatchewan
Posts: 6,545
My Mood:
If it is only $100 more than what you are currently paying would it really make you house poor?

We aren't so much house poor as we are activity poor.

My kids are older and their activities are expensive. $431/month for 2 kids to dance, $269/month for our oldest go to Quebec/Ontario for a week + $600 for extra activities/spending money Add in the $300/month orthodontist and we have zip left over. Thankfully my dad just gave us $5000 as the rest of the money he was giving us for the house we build(moved in 5 months ago) and that is going to some stuff we owed from buying this house and doing landscaping. Also the quebec trip has 1 payment left and dance has 4 left for this year(though i have 4 costumes to make/buy, 2 festivals to go to, 3 nights in a hotel, photos, ballet exams and duet yo pay for.
__________________
Carrie
CarrieMF is offline   Reply With Quote
Old 01-06-2013, 09:37 PM   #13
KaleidoscopeEyes's Avatar
KaleidoscopeEyes
Registered Users
seller
 
Join Date: Apr 2006
Location: Springfield Missouri
Posts: 14,971
My Mood:
Re: Ae you house poor? Do you regret it?

Quote:
Originally Posted by ulawolf View Post
Having been house poor before I would never do it again. No matter if it was my dream home.
yeah i would never. we live in a modest older home and i thank my lucky stars our mortgage is only $272 a month

__________________
Super crunchy, atheist, vegetarian, liberal WOH and student mama to 4 wonderful, smart homeschooling kids Wesley 17, Seth 10, Pandora Moonlilly 6 and Nevermore Stargazer 3, married to my awesome sahd artist husband of 7 years
KaleidoscopeEyes is offline   Reply With Quote
Old 01-06-2013, 09:38 PM   #14
KLeeCW
Registered Users
seller
 
Join Date: Jul 2012
Posts: 647
My Mood:
Re: Ae you house poor? Do you regret it?

We are not house poor. We went the opposite direction. We found a house we loved that may not necessarily be our dream house. We have a very comfortable mortgage and we are slowly making it a dream house. I'm very glad we did this because 2 weeks after we signed the papers, DH lost his "extremely secure" job where he'd been guaranteed a raise. If we had bought another more expensive house we'd been looking at, we'd probably be in a very different financial position right now.
KLeeCW is offline   Reply With Quote
Old 01-06-2013, 09:38 PM   #15
theonenonlymrssmith's Avatar
theonenonlymrssmith
Poet Laureate
 
Join Date: Aug 2011
Posts: 4,309
Quote:
Originally Posted by KaleidoscopeEyes

our mortgage is only $272 a month
I can't even fathom how that is even possible! I can't touch an apartment here for under 1000 a month!
theonenonlymrssmith is offline   Reply With Quote
Old 01-06-2013, 09:40 PM   #16
KaleidoscopeEyes's Avatar
KaleidoscopeEyes
Registered Users
seller
 
Join Date: Apr 2006
Location: Springfield Missouri
Posts: 14,971
My Mood:
Re: Ae you house poor? Do you regret it?

houses here are cheap and we put 25% down
__________________
Super crunchy, atheist, vegetarian, liberal WOH and student mama to 4 wonderful, smart homeschooling kids Wesley 17, Seth 10, Pandora Moonlilly 6 and Nevermore Stargazer 3, married to my awesome sahd artist husband of 7 years
KaleidoscopeEyes is offline   Reply With Quote
Old 01-06-2013, 09:40 PM   #17
theonenonlymrssmith's Avatar
theonenonlymrssmith
Poet Laureate
 
Join Date: Aug 2011
Posts: 4,309
Quote:
Originally Posted by KLeeCW
We are not house poor. We went the opposite direction. We found a house we loved that may not necessarily be our dream house. We have a very comfortable mortgage and we are slowly making it a dream house. I'm very glad we did this because 2 weeks after we signed the papers, DH lost his "extremely secure" job where he'd been guaranteed a raise. If we had bought another more expensive house we'd been looking at, we'd probably be in a very different financial position right now.
I'm so sorry that happened to you! I hope your dream home is finished soon! Thanks for sharing.
theonenonlymrssmith is offline   Reply With Quote
Old 01-06-2013, 09:42 PM   #18
theonenonlymrssmith's Avatar
theonenonlymrssmith
Poet Laureate
 
Join Date: Aug 2011
Posts: 4,309
Quote:
Originally Posted by KaleidoscopeEyes
houses here are cheap and we put 25% down
That is awesome!
theonenonlymrssmith is offline   Reply With Quote
Old 01-06-2013, 09:43 PM   #19
ulawolf's Avatar
ulawolf
Registered Users
seller
seller
 
Join Date: Apr 2010
Location: michigan
Posts: 3,499
Quote:
Originally Posted by KaleidoscopeEyes View Post

yeah i would never. we live in a modest older home and i thank my lucky stars our mortgage is only $272 a month
Ours is $600 for a 2400sq old farm house. It's ugly as Hell but fits us all and it's easily affordable
ulawolf is offline   Reply With Quote
Old 01-06-2013, 10:08 PM   #20
faiths13's Avatar
faiths13
Registered Users
seller
 
Join Date: Oct 2007
Location: Fair Oaks, CA
Posts: 16,956
My Mood:
Re: Ae you house poor? Do you regret it?

We got into a home and were house poor. I hated it. Our realtor really pushed us into the house and we were totally gullible. The mortgage was $3000 a month which left us with no extra money every month. We were able to ref and get it down to $2500, but it was still alot. Then I quit my job and was going to look for a pt job when I got preggo and very sick. Too sick to go back to work. That pretty much killed us and 10 months later we were totally in over our heads and lost our house. It was a nightmare. I never want to be house poor again.
__________________
Beth - homeschooling, Christ loving mom to Magus '99, Malakai '01, Bastian '07, Jace '09, Step Mom to Seth '95, married to Damon, love of my life!
My last ds is pl'ed!
faiths13 is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Copyright 2005 - 2014 Escalate Media. All Rights Reserved.