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Originally Posted by tjlazer
well the thing of it is, it's not like he is going out to spend big money and splurging on unneccessary things while only being on the job for 3 months. He is getting a home. If he doesn't buy it he has to pay rent, so the not buying anything because he is only on the job for 3 months mentality isn't really valid. On a GT-R? Yes it is--big time. Like was said, now is a great time to buy! In 6 months or a year the prices and interest rates go go much higher. (hope they do I need my equity to go up!)
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TJ, being on the job for only 3 months, should there be any layoffs or downsizing, there is no guarantee that the OP would retain his job (Not wishing this, but it happened to many in this current environment). I always laugh when people make the argument to "buy NOW, buy NOW, the interest rates will go up in 6 months", the same was said a few months ago; the same was said a year ago, the same was said 2 years ago, fact is the current interest rates are even lower
Why should one risk losing emergency funds, retirement savings for the sake of saving up on interests?
Quote:
Originally Posted by tjlazer
Sounds nice and all, but damn who actualy makes that much to keep their mortgage under 28% of their BIMONTHY income! (That's what you meant right? Never heard of getting paid twice a week unless... lol) Hell, if you can keep your mortgage with tax and insurance under your BIMONTHY pay check you are doing good!!!
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My mortgage is under 28% of my biweekly income. By biweekly, I meant being paid every other friday (26 times a year) TJ
It's nothing out of the ordinary when one keeps outflows low and automates saving early on - my brother-in-law has his house paid off in Fairfax and he is 33. My community has a lot of Ravens players and many neighbors have the "keeping up with the Joneses/Kardashians" mentality, $200,000 worth of cars in the driveway, no furniture in the house