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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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IF someone gave you
400K to spend on a house...
would you buy a house around 400K
or would you want to spend more and take out a mortgage?
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Posted 8/15/05 10:26 AM  |
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jozieb0925
Double Trouble!
Member since 5/05 4358 total posts
Name:
Josie
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Re: IF someone gave you
Spend more and take out a mortgage.
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| Posted 8/15/05 10:28 AM |
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Dani
Life is about choices.
Member since 5/05 6532 total posts
Name:
Dani
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Re: IF someone gave you
i would get exactly what i was looking for and if i had to take out a mortgage on top of the 400K i would.
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| Posted 8/15/05 10:28 AM |
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Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
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Re: IF someone gave you
I'd probably go up a little bit more ... maybe $500-$600 ... I'd rather enjoy the low to no mortage then to get a bigger house and struggle the same way as if I never had the money  To me it would be a gift and I'd use the money I saved elsewhere (to travel, decorate, etc ...)
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| Posted 8/15/05 10:30 AM |
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saraH
happy birthday sweet kate!
Member since 5/05 16555 total posts
Name:
I know that God exsists, I held her in my arms...
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Re: IF someone gave you
we would find a house for around that much, i think.
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| Posted 8/15/05 10:30 AM |
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AJsMommy122
Stop 2 smell the roses
Member since 5/05 2048 total posts
Name:
Maxine
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Re: IF someone gave you
If I could find a fixer upper for that price I would do it.. no payments and just investing money to fix it the way I want it.
If not I would spend more and have a mortgage!
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| Posted 8/15/05 10:32 AM |
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Jenn1621
<3
Member since 5/05 1728 total posts
Name:
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Re: IF someone gave you
This is what DH and I are doing. Selling our home and either building one for more or finding one already built for more.
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| Posted 8/15/05 10:32 AM |
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CowgirlChick97
Nike. Just do it.
Member since 5/05 3303 total posts
Name:
Brianna
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Re: IF someone gave you
I'd move to FL, buy a house and save the rest
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| Posted 8/15/05 10:33 AM |
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Tany
Becoming a different woman
Member since 5/05 24460 total posts
Name:
Tania
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Re: IF someone gave you
I think I would get a house in that range, but with the money it will be more than enough for me to buy anything at another state.
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| Posted 8/15/05 10:34 AM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: IF someone gave you
I'd probably buy a house for $600k and carry a mortgage.
There are huge tax advantages to having a mortgage. A few years back, my father bought a $750K home, but took out a 15 year mortgage for only $75,000. Just to have a tax write off 
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| Posted 8/15/05 10:34 AM |
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AJsMommy122
Stop 2 smell the roses
Member since 5/05 2048 total posts
Name:
Maxine
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Re: IF someone gave you
BTW RED - Where can I find this person and will they have the money ready for me when I get there?? I prefer cash but a money order would be fine 
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| Posted 8/15/05 10:36 AM |
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BaroqueMama
Chase is one!
Member since 5/05 27530 total posts
Name:
me
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Re: IF someone gave you
I'd take the money and buy something between 500K-600K and be able to live in Smithtown again. It's sad to know I can't afford to live in my hometown
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| Posted 8/15/05 10:37 AM |
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Marcie
Complete Happiness :)
Member since 5/05 27789 total posts
Name:
LOVE being a Mommy!
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Re: IF someone gave you
Posted by jozieb0925
Spend more and take out a mortgage.
Me too
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| Posted 8/15/05 10:37 AM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: IF someone gave you
I would probably go for about 500-550k
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| Posted 8/15/05 10:40 AM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: IF someone gave you
Posted by danigirl0
i would get exactly what i was looking for and if i had to take out a mortgage on top of the 400K i would.
same here.
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| Posted 8/15/05 10:41 AM |
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MsMBV
:P
Member since 5/05 28602 total posts
Name:
Me
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Re: IF someone gave you
Posted by jozieb0925
Spend more and take out a mortgage.
ditto
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| Posted 8/15/05 10:41 AM |
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FeliciaDP
♥
Member since 5/05 18599 total posts
Name:
Mommy
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Re: IF someone gave you
Posted by AJsMommy122
BTW RED - Where can I find this person and will they have the money ready for me when I get there?? I prefer cash but a money order would be fine
 I was thinking the same thing!! 
But to answer the question .. I would buy a more expensive home and take out a mortagage... I would not mind having a monthly payment , esp. since the payment would be low being able to put 400K down
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| Posted 8/15/05 10:43 AM |
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DonnaJoe708
Hello
Member since 5/05 4002 total posts
Name:
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Re: IF someone gave you
I'd probably get a more expensive home (but nothing too outrageous) and have a low mortgage.
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| Posted 8/15/05 10:49 AM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: IF someone gave you
It depends on what I could find. If I could find something for $400K I'd take it, and then the $$ I'm saving on mortgage payments I'd make whatever upgrades I wanted
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| Posted 8/15/05 10:51 AM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: IF someone gave you
Posted by AJsMommy122
BTW RED - Where can I find this person and will they have the money ready for me when I get there?? I prefer cash but a money order would be fine
well when i find him/her i will send them your way AFTER me
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| Posted 8/15/05 10:52 AM |
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Re: IF someone gave you
Posted by Redhead
I would probably go for about 500-550k
yes, me too
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| Posted 8/15/05 10:52 AM |
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leighla
Support Cancer Research
Member since 5/05 16353 total posts
Name:
Lauren
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Re: IF someone gave you
Posted by suvenR
I'd probably buy a house for $600k and carry a mortgage.
There are huge tax advantages to having a mortgage. A few years back, my father bought a $750K home, but took out a 15 year mortgage for only $75,000. Just to have a tax write off
I was going to say the same thing. My parents and DH's parents both paid off their mortgages this past year and were killed with the taxes they had to pay. Both of them wound up taking out a small 2nd mortgage for "extra" money and it helped a lot with the tax issues.
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| Posted 8/15/05 10:57 AM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Re: IF someone gave you
I'd take out a mortgage of $500 - $600k. Not only is it a tax benefit to have a mortgage, you'd be investing by purchasing more valuable property or in a more desirable area/better house, etc.
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| Posted 8/15/05 11:12 AM |
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jms100303
Luv my munchkins
Member since 5/05 4789 total posts
Name:
Jennifer
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Re: IF someone gave you
Posted by danigirl0
i would get exactly what i was looking for and if i had to take out a mortgage on top of the 400K i would.
Same here!
Which knowing me, would end up being something in like the $600k range or so. Neighborhood would be key.
Message edited 8/15/2005 11:23:03 AM.
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| Posted 8/15/05 11:21 AM |
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Re: IF someone gave you
Spend more and take out a mortgage.
That would seriously be a dream come true... are you offering
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| Posted 8/15/05 11:36 AM |
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