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Originally Posted by Dunit35
That's what I've been thinking. Long-term an apartment could save us an easy 150+ a month and over a year or two (two years left for school) and we could easily use it for a down payment on a house. We'll have to get a new car sometime when we get married both of ours aren't the best and are high mileage. I could just see us easily paying over 1K on a house, bills, auto insurence, health insurence, etc. When we would only be making 2K a month. What if something happened to a vehicle, would we have to wait to fix it because we don't have the money. With an apartment, saving that money, we could fix something real quick.
As my brother said "if you say you can afford this place, it doesn't mean you should go get it". Find cheaper stuff, he says to get an apartment.
The more I talk to you guys and him, I'm hoping we can just get an apartment.
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Yeah, I was in that type of a grey area that you're currently in. Me and the miss are deftinaly trying to save up $ for the down payment. Not to mention that we're figuring out and deciding (we're more than likely gonna build a home) if we want to have a walkout basement or not.
For instance, Yeah, we did some advanced thinking, and that would be with 2 types.
1. With Walk-out
- Base price is $229,000
- All extra stuff added (i.e. additional lighting, low-e windows, corial countertops, etc etc) $12,095
- 9' Walkout Basement - $18,550
Add all them up, it's $259645
2. W/o Walkout
Same as above, minus the $18,850, which would be $242,855.
And our down payment would be at least around 40,000, which is very good since it would lower the monthly payments.
With the walkout, the payments would be starting at $1,760, that's included taxes and insurance. W/o the walkout, it's starts off a $1,656, including taxes and insurance.
So we're thinking to ourselves, is it really worth an extra $100? Especially when you add it all up and all.
We know for sure, with the bills that we are currently paying for, will not cover the home costs. That's why we set a goal to at least try to get 3/4ths of our bills paid off by next June, where it would free up at least close to $800 that we can put into the mortage payments.