It's something I have mixed feelings about. I'm not one that enjoys putting debts in my name but after researching the market in the area that I live in, it just makes more sense to buy than own. On one hand, I pay rent on a house right now where if I owned the property, I'd be paying substantially less.
My wife and I-with both incomes combined-sit very comfortably right now. We both work full time, have two dogs, one car payment, one car paid off, and have no other major monthly payments besides the obvious insurance, credit card, utilities, etc.
My income will be out of the picture soon, as I'm leaving my current occupation to transition into LE, so after toying around on Excel I've determined that the only real affect me losing my income will have, is "fun money". Our usual surplus at the end of each month will decrease quite a bit.
That being said I'll be saving money if I owned rather than rented. I pay $975/mo for a 3 bedroom, 2 bathroom house with one acre of land right now, and will be paying roughly $650/mo for my mortgage. I'll be getting the loan through the VA so it will combine Escrow and Homeowners Insurance into the mortgage.
What are some major things that you made mistakes on in the home buying process that if you could go back, you would fix? I'm still working the financial end but I'm planning on beginning the search sometime after Christmas.
My wife and I-with both incomes combined-sit very comfortably right now. We both work full time, have two dogs, one car payment, one car paid off, and have no other major monthly payments besides the obvious insurance, credit card, utilities, etc.
My income will be out of the picture soon, as I'm leaving my current occupation to transition into LE, so after toying around on Excel I've determined that the only real affect me losing my income will have, is "fun money". Our usual surplus at the end of each month will decrease quite a bit.
That being said I'll be saving money if I owned rather than rented. I pay $975/mo for a 3 bedroom, 2 bathroom house with one acre of land right now, and will be paying roughly $650/mo for my mortgage. I'll be getting the loan through the VA so it will combine Escrow and Homeowners Insurance into the mortgage.
What are some major things that you made mistakes on in the home buying process that if you could go back, you would fix? I'm still working the financial end but I'm planning on beginning the search sometime after Christmas.
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