SuburbanFarmer wrote: Tue Apr 13, 2021 1:09 pm
Whether to buy now, or wait for the demand to pop... that is the question.
Smitty’s correct on this: if it’s your forever home, how much it costs is almost immaterial.
It’s pretty damn material when you’re paying a mortgage at 70.
Got a 30yr mortgage in 1991, paid it off in 2003.
Mind you, I was "pre-approved" for almost $50k more than I actually spent, I wasn't gonna set myself up for that much of a struggle financially, so I was able to pay $200-$300/mo extra on the principal most of the time.
Property taxes & basic bills, I could probably survive ok on $1000/mo or so now if I had to.
I joke I could probably flip burgers at McDs and survive... Not that I'd want to, but it's a comfortable place to be.
"People don't like to be meddled with. We tell them what to do, what to think, don't run, don't walk. We're in their homes and in their heads and we haven't the right. We're meddlesome."
Martin Hash wrote: Tue Apr 13, 2021 1:20 pm
Smitty’s correct on this: if it’s your forever home, how much it costs is almost immaterial.
It’s pretty damn material when you’re paying a mortgage at 70.
Got a 30yr mortgage in 1991, paid it off in 2003.
Mind you, I was "pre-approved" for almost $50k more than I actually spent, I wasn't gonna set myself up for that much of a struggle financially, so I was able to pay $200-$300/mo extra on the principal most of the time.
Property taxes & basic bills, I could probably survive ok on $1000/mo or so now if I had to.
I joke I could probably flip burgers at McDs and survive... Not that I'd want to, but it's a comfortable place to be.
Not when minimum wage hits $15 and McD’s goes 95% automated.
It’s pretty damn material when you’re paying a mortgage at 70.
Got a 30yr mortgage in 1991, paid it off in 2003.
Mind you, I was "pre-approved" for almost $50k more than I actually spent, I wasn't gonna set myself up for that much of a struggle financially, so I was able to pay $200-$300/mo extra on the principal most of the time.
Property taxes & basic bills, I could probably survive ok on $1000/mo or so now if I had to.
I joke I could probably flip burgers at McDs and survive... Not that I'd want to, but it's a comfortable place to be.
Not when minimum wage hits $15 and McD’s goes 95% automated.
Perhaps better, I'm a computer/electronics/tech guy, I could probably fix the automated burger flipper, unlike most of the people they hire that can't seem to comprehend that a "black coffee" means no cream & no sugar.
"People don't like to be meddled with. We tell them what to do, what to think, don't run, don't walk. We're in their homes and in their heads and we haven't the right. We're meddlesome."
__________ 
