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Move up?

October 27th, 2006 at 09:08 pm

Why does everyone think you have to pay alot for a house? The last thing th eguy said to us when we filled out our mortgage papers was when we want to move up in a few years we can arrange a larger mortgage. The first was why did you pick a house that price when we preapproved you for one three (or 4) times that much. Why is bigger better, or at least more expensive better? This house has 4 bedrooms (there are 3 of us) 2 bathrooms, a dining room an dkitchen a living room a large lot back porch, front porch. garage, workshop, storage shed, and other various amenities (hot running water, roof within last 2 years etc.) We need to provide some paint (ok alot of paint) a couple new windows, sanding and varnishing of floors or rugs if we want, and a few appliances. So.... why do I need more expensive. The more expensive ones didn't have 4 bedrooms or as large a back yard. in 20 or so years i expect to be scaling down, not moving up. I have bought three houses in my life The first was 25,000, the second was 34,000, and this is 48,000. Considering inflation I don't think I did bad so far!

7 Responses to “Move up?”

  1. tinapbeana Says:
    1161980559

    ooooh, i know that feeling! just bought my first house which was apparently less than 1/3 of what our salary "says" we should buy. it's 2x the size of the rental we were in, and is perfect except for it'll need a roof in 10 years and the kitchen is from 1969... folks still look at us like we're a bit off, but personally i am happy as a clam!

  2. LuxLiving Says:
    1161982457

    Hand up - I don't think you have to pay alot!!

  3. baselle Says:
    1162002842

    Its that 6% commission. If you've got the choice between cheap house x 6% and expensive house x 6%, what's a realtor going to do?

  4. Carolina Bound Says:
    1162042767

    I can't believe you bought a house for $48,000! My house was $85,000 twelve years ago, and it is small. Great deal!

  5. Joan.of.the.Arch Says:
    1162053597

    Congrats on 4 bedrooms with big yard for only $48,000!

  6. Amber Says:
    1162083581

    I totally agree, I decided that when I am ready to buy I am moving to a place that is less expensive. I do not need nor want what every one else has (a lot of debt) My friends are the same way i guess that is how we are conditioned

  7. Money Talk$ Says:
    1162301781

    Location is rather important when comparing home prices...that said congrats. The realtors told us the same...I said ok we want this house...the guy runs credit reports and says you are approved for a much larger mortgage. Was I supposed to say oh now I no longer want that house? My attraction to it has waned in the last 123 seconds, while you ran that report. My parents used to not have any idea of the value of a home...they bought their house in 1975 3 bedroom, 2 story plus full attic and full basement on a corner lot, with HUGE rooms, fireplace all that...they paid $6000. My Dad would always talk about the people he worked with and their $1200 mortgages...he could never understand why they paid so much. His car payments were more than his mortgage! But you are right more expensive does not always mean better.

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