Comments on: Reworking My Savings Goal And Thinking About Buying A House http://www.ncnblog.com/2008/07/02/reworking-my-savings-goal-and-thinking-about-buying-a-house/ Debt Reduction Rocks - We Are Living Debt Free! Fri, 10 Feb 2012 00:09:10 +0000 hourly 1 By: Fen http://www.ncnblog.com/2008/07/02/reworking-my-savings-goal-and-thinking-about-buying-a-house/comment-page-1/#comment-119574 Fen Tue, 08 Jul 2008 20:56:35 +0000 http://www.ncnblog.com/?p=1276#comment-119574 I am definitely a goal-setter, and for quite some time now my goal is to have $1.2 million in retirement savings, not including my home. Your goal sounds great. I saved for many years while living in my sister's basement. I was able to put down about 45% on a $209,999 home (now valued at about $395K). I'm thankful i was able to put down that much becus it means less pressure on me (still single) to take high-paying jobs if i don't like them. My principal is just $775 a month but i've been prepaying ever since I bought it 13 years ago am down to a $71k balance. you can do it too! I am definitely a goal-setter, and for quite some time now my goal is to have $1.2 million in retirement savings, not including my home.

Your goal sounds great. I saved for many years while living in my sister’s basement. I was able to put down about 45% on a $209,999 home (now valued at about $395K). I’m thankful i was able to put down that much becus it means less pressure on me (still single) to take high-paying jobs if i don’t like them. My principal is just $775 a month but i’ve been prepaying ever since I bought it 13 years ago am down to a $71k balance.

you can do it too!

]]> By: Moneymonk http://www.ncnblog.com/2008/07/02/reworking-my-savings-goal-and-thinking-about-buying-a-house/comment-page-1/#comment-119388 Moneymonk Mon, 07 Jul 2008 18:07:29 +0000 http://www.ncnblog.com/?p=1276#comment-119388 It all depends on your income. If you have enough to sacrifice for 12 months go for it!! It all depends on your income. If you have enough to sacrifice for 12 months

go for it!!

]]> By: Sam http://www.ncnblog.com/2008/07/02/reworking-my-savings-goal-and-thinking-about-buying-a-house/comment-page-1/#comment-119369 Sam Mon, 07 Jul 2008 13:11:20 +0000 http://www.ncnblog.com/?p=1276#comment-119369 I think your plan is great, it is similar to Dave's "Drive Free" plan. It is great that you are doing the research on housing prices, sub-divisions, etc. I would continue your research and keep track of sales, number of days on the market, listing vs. sales prices, etc. for houses or communities that you are interested in. Even if you decide to stay in your current situation you will be no worse off and will have a bunch of money in the bank. I think your plan is great, it is similar to Dave’s “Drive Free” plan. It is great that you are doing the research on housing prices, sub-divisions, etc. I would continue your research and keep track of sales, number of days on the market, listing vs. sales prices, etc. for houses or communities that you are interested in.

Even if you decide to stay in your current situation you will be no worse off and will have a bunch of money in the bank.

]]> By: Amy http://www.ncnblog.com/2008/07/02/reworking-my-savings-goal-and-thinking-about-buying-a-house/comment-page-1/#comment-119354 Amy Mon, 07 Jul 2008 11:21:35 +0000 http://www.ncnblog.com/?p=1276#comment-119354 Is your housing currently paid for in full by your employer? If so, I can see how you were able to get out of debt. I think you did work hard at it, but you gotta admit if there is no housing payment to deal with- it is ALOT easier. I would save money for a house, but what is the rush? As others have mentioned keep in mind of all the "little" extras of owning a house i.e maintenance, rising taxes etc. Just don't rush into it because you feel pressure to be a "homeowner". Sounds like you have a good thing going and you do live in a house currently vs an apartment. Nothing is wrong with the kids sharing a room-really. I wish I could pile away the money like you but we have a $1700.00 mtg pymt, one income(husband) I'm in school and a baby on the way. We live very frugal and get no help whatsoever from family or friends. I guess the grass is always greener. You got a good thing going just think it through. Is your housing currently paid for in full by your employer? If so, I can see how you were able to get out of debt. I think you did work hard at it, but you gotta admit if there is no housing payment to deal with- it is ALOT easier. I would save money for a house, but what is the rush? As others have mentioned keep in mind of all the “little” extras of owning a house i.e maintenance, rising taxes etc. Just don’t rush into it because you feel pressure to be a “homeowner”. Sounds like you have a good thing going and you do live in a house currently vs an apartment.
Nothing is wrong with the kids sharing a room-really. I wish I could pile away the money like you but we have a $1700.00 mtg pymt, one income(husband) I’m in school and a baby on the way. We live very frugal and get no help whatsoever from family or friends. I guess the grass is always greener. You got a good thing going just think it through.

]]> By: NCN http://www.ncnblog.com/2008/07/02/reworking-my-savings-goal-and-thinking-about-buying-a-house/comment-page-1/#comment-119039 NCN Sat, 05 Jul 2008 14:19:17 +0000 http://www.ncnblog.com/?p=1276#comment-119039 @Elaine.. I agree, we don't 'need' a house w/ three bedrooms... but, it would be nice, so we are preparing, just in case that's what we decide to do. We can stay here, or, if we find a house that we like and fits w/ in our budget, we can make a purchase. This is an 'experiment' to see what we could afford... I'd hardly call it a case of 'affluenza'.. @Elaine.. I agree, we don’t ‘need’ a house w/ three bedrooms… but, it would be nice, so we are preparing, just in case that’s what we decide to do. We can stay here, or, if we find a house that we like and fits w/ in our budget, we can make a purchase. This is an ‘experiment’ to see what we could afford… I’d hardly call it a case of ‘affluenza’..

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