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ARIELSMOM
Love my Babes
Member since 8/05 5889 total posts
Name:
MEREDITH
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Does anyone Live for the house payments?
Now that we are intensly looking for a house i get so nervous. Everything is SO expensive around here. I dont think we are going to have ANY exta money, everything we make is going to go to house payment and bills.
Is anyone else in this situation?
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Posted 2/16/06 8:16 AM  |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Does anyone Live for the house payments?
Before we bought our house we mad esure we paid all our debt off.
Even though we could hace afforded more price wise with a house, we went for less. We didnt want to have to worry what if.
Make a list of what you buiy you would be surprised at all the crap that isnt necessary
Good luck, they always say the first year you are house poor anyway.
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| Posted 2/16/06 8:24 AM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19460 total posts
Name:
L
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Re: Does anyone Live for the house payments?
In addition to a mortgage payment I would include
taxes
insurance (home owners/health/life)
401k/roth ira
gas (150-200 a month for us)
electric (45-50 a month for us)
phone/internet/cable (100 a month for us)
cell (80 a month for us)
food (450-500 a month for us)
student loans (if you have them)
credit card debt (if you have it)
car payments (if you have them)
gas for car/lirr/subway
car insurance
fund for home emergencies
fund for furniture
fund for building up 3-6 month cushion
fun money
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| Posted 2/16/06 8:34 AM |
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ChristineR
New Year, New Beginnings!
Member since 5/05 2083 total posts
Name:
Christine
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Re: Does anyone Live for the house payments?
Posted by LSP2005
In addition to a mortgage payment I would include
taxes
insurance (home owners/health/life)
401k/roth ira
gas (150-200 a month for us)
electric (45-50 a month for us)
phone/internet/cable (100 a month for us)
cell (80 a month for us)
food (450-500 a month for us)
student loans (if you have them)
credit card debt (if you have it)
car payments (if you have them)
gas for car/lirr/subway
car insurance
fund for home emergencies
fund for furniture
fund for building up 3-6 month cushion
fun money
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| Posted 2/16/06 8:40 AM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: Does anyone Live for the house payments?
It's not as bad as we thought it would be. The only thing that su xs is thinking about adding 1200+ per month for child care.
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| Posted 2/16/06 9:09 AM |
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Re: Does anyone Live for the house payments?
No. We made a point to not max ourselves out so that we could still travel and enjoy ourselves. Of course, it would be nice to have bought a bigger house, but it'll happen someday. I am glad we did it this way.
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| Posted 2/16/06 9:31 AM |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: Does anyone Live for the house payments?
Its not really that bad - and honestly it is worth it.
Danielle pays for the big mortgage
Her Civic
Her School Loan
Her Credit card
we both pay for food
I pay for the:
smaller mortgage
Home Phone, Cable and Modem
Cell Phone
Electric
Water
Oil Bill
Car Insurance
The Kia
MY credit card
and what ever else.
That was our aggreement and it seems to be working out for us
Scott
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| Posted 2/16/06 10:08 AM |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Does anyone Live for the house payments?
Posted by schnapy
Before we bought our house we mad esure we paid all our debt off.
Even though we could hace afforded more price wise with a house, we went for less. We didnt want to have to worry what if.
Make a list of what you buiy you would be surprised at all the crap that isnt necessary
Good luck, they always say the first year you are house poor anyway.
This is excatly what we did. I don't regret it for a second! I am glad we got out of debt before we purchase our home. Of course now we are in debt again with our mortgage and contant trips to home depot. 
Message edited 2/16/2006 10:12:42 AM.
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| Posted 2/16/06 10:12 AM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Does anyone Live for the house payments?
I know its easier said than done, but you should try to live off of one salary. The lesser one being savings if that applies, sounds crazy but it works
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| Posted 2/16/06 10:37 AM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Does anyone Live for the house payments?
Posted by dandr10199
Posted by schnapy
Before we bought our house we mad esure we paid all our debt off.
Even though we could hace afforded more price wise with a house, we went for less. We didnt want to have to worry what if.
Make a list of what you buiy you would be surprised at all the crap that isnt necessary
Good luck, they always say the first year you are house poor anyway.
This is excatly what we did. I don't regret it for a second! I am glad we got out of debt before we purchase our home. Of course now we are in debt again with our mortgage and contant trips to home depot.
Im so sick of home improvements, Im striking Home Depot
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| Posted 2/16/06 10:38 AM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: Does anyone Live for the house payments?
We talked to a mortgage broker first and discussed how much we could afford per month based on our monthly income--then we looked at houses in that price range based on how much we had to put down. Also we have been trying to save every month how much our monthly mortgage payment would be because I read in buying your first home book that you should do that so you know what it is like. Just some ideas--it is a lot of money but DH & I felt that it was better than giving our landlord 1400 a month...when we buy our house our mortgage payment will only be about $1000 more. Since we paid electric & phone/internet/cable, renters insurance etc too it really isn't going to be a huge adjustment. Good luck, sometimes you just have to be patient and keep looking for a house--they are starting to come down. It was very stressful for me because I had this idea of what my first house would be and the house we are buying is nothing like it--I realized the house I want is way out of my price range so I am just goign to make this house my own.
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| Posted 2/16/06 11:05 AM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: Does anyone Live for the house payments?
Posted by schnapy
I know its easier said than done, but you should try to live off of one salary. The lesser one being savings if that applies, sounds crazy but it works
We haven't found a house yet...but we've been banking my salary and living off of DH's while saving. We paid off my car and student loan and his car will be paid off 9/07 - other than that, there's no debt.
It has definitely been easier than we thought it would be...and of course we wish we had started it sooner 
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| Posted 2/16/06 11:25 AM |
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raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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Re: Does anyone Live for the house payments?
i was just talking about this w/DH yesterday!
We pay so much money every month in bills between mortgage, insurance, bills, etc.
We dont have too much money left over each month for anything, but you know what...its worth it. We have a house.
We had an apartment a year ago and would look out the window in the summertime into our landladys backyard just wishing we'd have one of our own..and now we do..
So even though we dont have as much spending money for vacations and everything..We have what we've always wanted...
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| Posted 2/16/06 11:50 AM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Does anyone Live for the house payments?
IMO...living for a house is never worth it.
I refuse to buy somethig that i am living for. Just can't do it. Life has way tooo many surprises and expenses to put myself in that kind of situation...
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| Posted 2/16/06 2:34 PM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: Does anyone Live for the house payments?
Posted by schnapy
I know its easier said than done, but you should try to live off of one salary. The lesser one being savings if that applies, sounds crazy but it works
exactly what we did for a year or two, then we knew we could dive in. Plus, we had absolutely no debt, except for my school loan. It worked out well for us, as I know am only PT while DH works, I get to stay home with Andrew.
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| Posted 2/16/06 2:47 PM |
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MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
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Re: Does anyone Live for the house payments?
No, and I dont rec you do that to yourself either. Buying a house does come with things that need to be replaced or fixed that are not cheap.
Bills= they fluctuate,at least ours do, our heat and electric. Some months are way more than others.
I have a friend who did this and I see them struggle and thank my lucky stars I dont have to live like that. the babies came and they are in more over thier head now, it worrys me.
So no dont buy a house to "live" for the house payments- you could lose that house real fast and ruin your credit too.
Best of Luck to you.
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| Posted 2/16/06 3:07 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: Does anyone Live for the house payments?
Posted by ARIELSMOM
Now that we are intensly looking for a house i get so nervous. Everything is SO expensive around here. I dont think we are going to have ANY exta money, everything we make is going to go to house payment and bills.
Is anyone else in this situation?
yes Unfortantly I am. It stinks. But Id rather be living in my house then in an apt. One day we will be caught up
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| Posted 2/16/06 3:25 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Does anyone Live for the house payments?
no- b/c I don't own a home yet- but when I do the answer will still be no
I am in the process of paying off all credit cards bills
and I am also waiting another 18 months at least to see what the market does
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| Posted 2/16/06 4:46 PM |
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MissJones
I need a nap!
Member since 5/05 22137 total posts
Name:
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Re: Does anyone Live for the house payments?
Posted by schnapy
I know its easier said than done, but you should try to live off of one salary. The lesser one being savings if that applies, sounds crazy but it works
That is what we are aiming to do. Feasibly, we could do it with one income, but it'd be tight, so I pay all the bills and DH pays for his share of the credit card. I think this will help us start saving better.
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| Posted 2/16/06 5:33 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Does anyone Live for the house payments?
my Dh & I already had one child each from previous relationships when we married so we needed to make sure we wouldn't be house poor, raising kids is expensive. My son is in college now & we are saving $$$ for my stepdaughter's education (she's only 12 but wants to go to harvard ) Also we are not into getting new cars all the time, I personally like to buy a brand new car every 6 or 7 years & drive it till it dies-so we don't have car payments. I shop with coupons & usually save about 35-45% on groceries every week. We live a very comfotable but modest lifestyle & we bought a house in an affordable area.
I think that there are so many things that can come up & additional expenses, you should try to buy a house that leaves you a little extra cushion. Some people stretch it a little too far IMO.
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| Posted 2/16/06 10:40 PM |
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