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How on earth do people afford mortgages?
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: How on earth do people afford mortgages?
it is very tough on LI for first time buyers. that's why so many ppl are leaving 
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Posted 1/19/07 8:21 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: How on earth do people afford mortgages?
Posted by Seles81
We learned that for some reason sometimes it doesnt look like it will always work out on paper but it does in real life. When we bought our house we thought we would be living paycheck to paycheck and my godmother kept telling us not to worry it works out and if you have to make some scrafices some months it's ok. She way so right! Our spending cut back a little but I didnt really notice. After a few months you learn what your budget will be. I think once you figure out what your budget is then you go from their, even if you buy a smaller fixer up type house, you can always sell it and move up.
I agree with this, it always looks worse on paper. We were terrified when we bought our house, but my mom said you will figure it out it and it will work out. I did, we are happy in our house and we are not broke and eating mac and cheese every night
It can be very overwhelming, but it was scary at first but was one of the best financial decisions we ever made.
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| Posted 1/19/07 10:12 AM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: How on earth do people afford mortgages?
Posted by Blu-ize
Posted by Seles81
We learned that for some reason sometimes it doesnt look like it will always work out on paper but it does in real life. When we bought our house we thought we would be living paycheck to paycheck and my godmother kept telling us not to worry it works out and if you have to make some scrafices some months it's ok. She way so right! Our spending cut back a little but I didnt really notice. After a few months you learn what your budget will be. I think once you figure out what your budget is then you go from their, even if you buy a smaller fixer up type house, you can always sell it and move up.
I agree with this, it always looks worse on paper. We were terrified when we bought our house, but my mom said you will figure it out it and it will work out. I did, we are happy in our house and we are not broke and eating mac and cheese every night
It can be very overwhelming, but it was scary at first but was one of the best financial decisions we ever made.
This is exactly what I hear. We sat with a not for profit agency and discussed what we ACTUALLY can and cannot afford. To me and my DH we  , but she showed us how and where our money was going and how much more sense it makes to own a home....especially for us with tax time being DH is a salesman.
I also have been told a LOT that the first year is the hardest. It does take time to adjust and get used to living a different life...but you know what...we're sooo looking forward to it. 
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| Posted 1/19/07 10:15 AM |
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Ltdentway99
LIF Adult
Member since 9/06 1752 total posts
Name:
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Re: How on earth do people afford mortgages?
My parents are the biggest example of this. When they bought their house, they got a great deal, but were still living paycheck to paycheck for years. But, my mom went for a masters degree, they increased their earnings and now 25 years later, their mortgage is done. They love their house and will never move.
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| Posted 1/19/07 11:34 AM |
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luckyinlove
I love my baby girls!
Member since 12/06 2441 total posts
Name:
Lauren
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Re: How on earth do people afford mortgages?
Posted by hazeleyes33
$300/MONTH for homeowner's?? Our insurance is only $750/YEAR. When you break it down, it is just $62/MONTH.
Where I will be buying, you are required to get flood insurance which costs 2k a year
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| Posted 1/19/07 3:48 PM |
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| Pages: 1 [2] |
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