The Motley Fool Discussion Boards

Previous Page

Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/peoples-lives-would-be-so-much-easier-if-they-13814059.aspx

Subject:  Re: How did you do it? Date:  11/30/2000  10:56 PM
Author:  spongebrain Number:  15457 of 128595

People's lives would be so much easier if they could only look beyond what is only staring them in the face. Your net worth is negative $40k, b/c you decided opted for the "ring, honeymoon, some wedding costs". But in the back of your mind, you knew you wanted a house for YEARS, probably since you were 8 years old. "Cross that bridge when we get to it"

People make choices all their lives, yet don't even know it. You chose the "ring, our honeymoon, some wedding costs" instead of clearing debt and having a downpayment.

Reality: You don't start to train for a marathon the night before. You are YEARS away from a house. Homeownership goes so far beyond scraping together a downpayment.

PS: I do applaud that you at least have the decency to not grub from your aging parents, like many shameless couples, who are simply pretending to be adults subsidized by their parents.

One question: What is your total income and current rent ?

Bottom line: Prioritize. How much of your life do you want to sign away to a bank for the big loan? How important are dinners out vs delaying getting a house? There is no "right" formula. Everyone is different.,
Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us