Housing question

[hotzcatz]

Isn't small town living fun? Well, that "well respected" business manager has oatmeal for brains. Hmpf! Living below your means is wonderful, you will be able to do things other than work to pay off a mortgage. There is a reason why the root word of "mortgage" is "death". Get out from under them as fast as possible and living well below your means is a great way to do that. Kudos to you and poo on the guy who thinks otherwise.

[Lincolnian]

Originally Posted by golfgod

There are lots of "well respected business managers", "finance professors" and waaaaaaay lots of "bankers" who are living way too far above their means.

We always lived (house and car wise) waaaay below our means. The last (literally) mortgage that we ever took out was for a house that cost $125,000, our gross income from salaries was about $120,000/year at the time and we had another $40,000/year in outside income. The mortgage guy told us we should be buying a "much more upscale" house. We told him to pound sand.

Buy the house you like in the neighborhood you like.

golfgod

Agreed. Many in the home-marketing chain are pushing prospective buyers to buy as much as they possibly could qualify for. The host of HGTV's Property Virgins often pushes buyers above what they are qualified for when showing them properties. They often express that they are approved for up to $300,000 but they would like to stay around $250,000. She then shows them properties for $339,000 and a crummy one for $289,000. When they go to make an offer she often makes them feel bad for not offering "market value" on a place they can't afford.

We're looking to move once we sell our current home. We will be looking at moving down in price and looking at discounted homes in less than market condition to refurbish to our liking. We are prepared to slum it with a house that most likely won't have granite and stainless. Lol.

[Darrow]

Originally Posted by Lincolnian

Agreed. The host of HGTV's Property Virgins often pushes buyers above what they are qualified for when showing them properties. They often express that they are approved for up to $300,000 but they would like to stay around $250,000. She then shows them properties for $339,000 and a crummy one for $289,000. When they go to make an offer she often makes them feel bad for not offering "market value" on a place they can't afford.

We're looking to move once we sell our current home. We will be looking at moving down in price and looking at discounted homes in less than market condition to refurbish to our liking. We are prepared to slum it with a house that most likely won't have granite and stainless. Lol.

I have the other half of your brain - lol. Property Virgins drives me crazy!!! I honestly should quit watching it, but I like to yell at the host. Those new homeowners get suckered by her all the time.

Your last paragraph exactly describes us...hope we both can find what we want.