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I helped a relative buy her first home this week. We talked about affordability, additional and unexpected expenses, taxes, association fees, repairs, insurance etc. When this topic came up I talked with her about the importance of using the money wisely. Put it into the house with either a large mortgage payment, or into improvements to the home...carpet, tile, fixtures..whatever. I'm glad it will help her.
Spending that money on shoes would be stupid.
Now.....where do I line up in the "I'm screwed for being fiscally responsible" picket line?
I wondered about "selling" our house to the wife for what we owe plus a private note for home repairs, and qualify with this and a better interest rate?
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