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Of course only I know my finances but homes in CT are not cheap. At least not for what you want. So take this 110k gross, we were looking to take on a mortgage (total including taxes, insurance) of $2,500 on an average home that would need updates and add ons and what not. Or we can get this home we are looking at but our cost would be $2,700 (max). We have no CC debt, no student loans, good secure jobs, good credit, one car loan.
I am basically just looking to see if I'm insane for considering this even though I know it's the right move and the right home. 30 year fixed, 10% down plus closing. It's a home run house checks every box. I figure if we keep saving then we are just going to end up with a higher rate and looking at the same homes we are now so the situation won't change.
Ok I out my suit on so I'm ready for the flack. Thanks for listening.
All factored in. And I guess I'm just trying to convince strangers lol.
At least you're honest with yourself about it. You should do what you're comfortable with. If you can afford it, and this house has everything you want, the couple hundred shouldn't stop you from buying it. If you're going to be strapped and the house still needs tons of work, probably not a good idea.
House is literally complete. Would we update a bathroom in ten years sure but the house can comfortably be lived in as is and would hardly need even paint. Location, utilities all are just what we are looking for And every other home in our range seems to have sacrifices.
If it's completed for you and the other homes aren't, the money will wash so might as well have it in your mortgage than spending money out of pocket for remodel or even taking out a home equity loan to cover remodel.
Thas what we are thinking. And both jobs are very secure and good. And we could afford on one salary if we had too plus still having a savings buffer just in case and emergencies.
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