Comments on: Don’t Buy A House Just Because People Say It’s A Good Time To Buy

By: Do You Dave Ramsey?

Do You Dave Ramsey? — Sun, 28 Jun 2009 14:45:58 +0000

This is the single best piece of advice anyone can ever hear, learn, and incorporate into their lives. THE SINGLE BEST PIECE OF ADVICE! I've heard fitness gurus praise the squat as the single best exercise because of how in calls so many muscles into play - legs, back, shoulders, core for balance, and it can have cardio vascular impacts as it can really get the blood flowing. Buying a house when you can truely afford it does the same thing in our financial lives. What does it mean to truely afford something is a huge starting point. Debt reduction, emergency savings, downpayment savings, new house costs (furniture, maintenance, etc), budgeting, discipline, and spending prioritization are all brought into play. Being about to buy a house when YOU can afford it is a simple and complex recipe for a lifetime of financial success. Dave Do You Dave Ramsey?s last blog post..Be in the Business of Being Yourself

By: cathy

cathy — Thu, 25 Jun 2009 22:07:15 +0000

We close on Monday on our house. Many people forget to realize that there is the FHA loan. You only need 3.5% of the cost of the home as a down payment along with closing costs and other fees. We were able to do this because we bought a home that was reasonable and completely within our budget. In the end, we will pay at closing $8200.00, without deducting the $500.00 we already paid at the time we made the offer. Thus, we will pay $7700.00.

You do have to wait. After my husband completed his doctorate in audiology along with my studies, we were swamped with lots of school loans along with just entering the work force. Ironically, after some years working, my husband is doing well, but now I am unemployed. Hint, when buying a home, factor in only one income, not two. Just in case an foreseen emergency in the future arises!!

By: Jason

Jason — Mon, 22 Jun 2009 23:09:13 +0000

Thankfully, for us, the two came together at the same time. Our first daughter was born in February, and we needed to expand from our two-bedroom apartment (where the 2nd bedroom was my full-time home office). The perfect piece of property came on the market at more than 25% off its last price, the location can't be better, we got a super low interest rate, and then the $8000 credit. We're not buying because we want a house to invest in, we're buying because we need the house to live in. Jasons last blog post..Will Taxing Health Care Benefits Pay for Reform?

By: QuickHits: Father’s Day Weekend Edition | Prime Time Money

QuickHits: Father’s Day Weekend Edition | Prime Time Money — Mon, 22 Jun 2009 16:01:07 +0000

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By: M Edwards

M Edwards — Sun, 21 Jun 2009 18:55:40 +0000

You're quite right. The time should be the right time for the buyer. Too many people freak about what's happening in the market and even take too much notice of peer pressure. M Edwardss last blog post..Pick Of The Blogs 1

By: Jason Y

Jason Y — Fri, 19 Jun 2009 20:37:54 +0000

I do hope the market remains this way just a couple more years so my wife and I can buy a house.

By: Ray

Ray — Fri, 19 Jun 2009 20:06:52 +0000

We were in a similar position this year were debating if we should buy or rent, our first choice was to buy but after some thought decided that we'd wait a little longer till the time is right for us.... Rays last blog post..Winner Announcement- New Giveaway and Weekly Blog Review

By: Getting a Home Mortgage: Improve Your Credit Score - Mortgage Rate News

Getting a Home Mortgage: Improve Your Credit Score - Mortgage Rate News — Fri, 19 Jun 2009 19:51:29 +0000

[...] prices low, and mortgage rates still reasonably low, it’s a good time to buy a house. (Just don’t buy to buy, however. Make sure you can actually afford the home.) But the real question is whether or not you [...]

By: Matt Jabs

Matt Jabs — Fri, 19 Jun 2009 19:50:10 +0000

I love this post because it challenges popular thought! Just because the market is right, doesn't mean it's a good idea for YOU to buy right now. In fact, unless you have at least 20% for a down payment saved, and no other debt, you should just forget about buying for now. Matt Jabss last blog post..Powerful Advantages of Renting a Home Before Buying

By: corrin

corrin — Fri, 19 Jun 2009 15:51:27 +0000

We would love to buy, but even the tax credits don't make it a good time for us. There's a slew of things that can go wrong with a house (especially houses in our price range - which may require a little TLC), and even though we could scrape up enough money to get into a house, we wouldn't be prepared to face any repairs. corrins last blog post..June 14 thru 17