Messages By: twnty1inwi

This sounds like your the 2nd generation of spoiled!  NO ONE EVER had a used car!  You and your significant other can afford $2K a month house payment?  Let me tell you from 55 yrs of experience from the real world!  Most of the boomers (your parents age) were glad to have a nice USED car to drive until we got a little established in the world.  New cars then were $2K, houses 2 story were around $65K , groceries $35 a week!  Our parents were not enablers like the parents of today.  We had to get it like they did, work hard for it.   

But ok, so you can afford $2K a month for a home.  Have you thought WHAT IF one of you get disabled?  Do you know how that affects your monthly income?  WHAT if you have a child that needs constant care cause of an illness?  What if the cost of living skyrockets?  You do seem to have a saving mind, which is good.  Why not use it to your advantage.  Get a good used car that MIGHT cost you $220 a month, and put that EXTRA $200 that it would cost you for a new car in the bank for UNEXPECTED expenses?  And you should be directed, IF YOU HAVE A GOOD REALTOR (I am a retired realtor) that you might be able to afford $2k a month....but why not something that is $1K a month or less ($1k a month even frightens me) and there for have money back for the UNEXPECTED that comes with home ownership, new roof needed, furnance going out. 

Young people today want it all NOW!  The average Baby Boomer had to work 20 yrs to get IT ALL.  I am 55 yrs old and just now have my home and 2 new cars paid for!  Took me 25 yrs.  I am comfortable, can help my family when they need it , and didn't overextend myself to do it!  Put your expectations lower and you won't face the realization of respossessions.  FOOTNOTE:  Financial strain always puts stain on relationships!  And if you don't heed some of the advise given you, then bless you with what you will be dealing with with your children!      

Just wondering what the +1 means? 

I read some of your earlier posts and I think you are smart in the way you are handling yourself. 

Are you and your girlfriend at this time putting some of your money away for the house? I know you said your paying your cars off, but are you putting extra (possibly the money you would give your folks for rent ) away as savings for a downpayment? 

I lived with my brother and boyfriend until we got things settled but moved into an apartment for one year before buying a house. It sucked to be honest with you but at the time it was a school issue for my daughter so thats why we moved. Our first house we lived in for 3-5 years and then sold it and bought a newer home. My reccomendation, based on what our home inspector said was to buy a 2-3 year old house, that way the landscaping at all that stuff is done, but the house has settled and if anything needs to be done that is covered under builders warranty it is still good. Just something to think of. Our house is perfect. We have a 2000 suare foot home, 3 car garage for my hubbys toys. and four bedrooms finished backyard with cement patio, and finished basement. Had we done allt his ourselves with a brand new house, we wouldn't have gottne the third garage or the patio or the landscaping etc. 

I wish you luck 

Tam