Quote:
Originally Posted by polarity
For the record I'm not knocking the debt free life, I think it's an awesome thing to be, but I do have a question. How does one buy a house like this?
Personally, I dont think credit is the devil if used properly by responsible people. As a kid (18) I did some dumb things with credit that ended up taking me years to fix, now it's fixed and I learned my lesson I have things on credit (house, car) even have a credit card (but I dont actually use it anymore, it just happens to be my oldest line of credit so I refuse to close it). I think buying things in cash is awesome, but what about buying a $150,000 house for you and your wife(or husband, depending on the person).
-William
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Well, in a nutshell, you can't unless you have a pile of money laying around that happens to be the same as the house you plan to buy (or more).
My point is to get rid of the debt. Then I'll have enough money coming in that I won't need a credit card - I could either buy it outright, or, save easily and get it within a reasonable amount of time.
IF I can manage to stick with it, I'll have my house paid off by the time I'm 39, in addition to any/all other debt, and I'm 31 now. Bought the house in 2005 for 30yr term...