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Buy a house now? Or trailer now, house later?

View Poll Results: Buy trailer now? Or house later
Buy trailer now, save up some, sell it, buy a house later 18 20.45%
Screw the trailerhood life, save up now, buy house sooner 65 73.86%
You tell me 5 5.68%
Voters: 88. You may not vote on this poll

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Old 05-19-2013, 06:08 PM   #102
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In another year prices will be higher but option a is a sweet deal.
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Old 05-19-2013, 06:08 PM   #103
Look away, I'm hideous!
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Quote:
Originally Posted by OZ-T View Post
Dafuq is PMI ?
Primary mortgage insurance?
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Old 05-19-2013, 09:07 PM   #104
gupster88 [OP] gupster88 is offline
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Quote:
Originally Posted by OZ-T View Post
Dafuq is PMI ?
If you don't put 20% don't or don't have 20% equity in your house you have to pay that as a "just in case you foreclose" situation.
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Old 05-19-2013, 09:09 PM   #105
I've seen things you people wouldn't believe ....
OZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shed
 
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Quote:
Originally Posted by gupster88 View Post
If you don't put 20% don't or don't have 20% equity in your house you have to pay that as a "just in case you foreclose" situation.
Oh , I see

We have a similar option
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Old 05-20-2013, 01:08 AM   #106
Damn dirty Swede
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Quote:
Originally Posted by OZ-T View Post
Oh , I see

We have a similar option
Yep. CMHC.
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Old 05-20-2013, 03:31 PM   #107
Hillbilly
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Depends on how bad you really want that extra room. If you really can't stand living in the apartment because there's not enough room, go for the trailer. If it's bearable, stay. Personally, though the trailer bit sounds like a good idea, I would stay in the apartment.
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Old 05-20-2013, 08:25 PM   #108
gupster88 [OP] gupster88 is offline
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Well here is an update. I am currently doing a little remodeling to the trailer. I'm glad I went this route, stay as much out of debt and be able to save some money! Thanks for all yall's opinions!
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Old 05-21-2013, 06:46 AM   #109
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Quote:
Originally Posted by gupster88 View Post
Well here is an update. I am currently doing a little remodeling to the trailer. I'm glad I went this route, stay as much out of debt and be able to save some money! Thanks for all yall's opinions!
Congrats, I think you made the correct decision...

Howard
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Old 05-21-2013, 07:33 AM   #110
Old & Forgetful
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Quote:
Originally Posted by gupster88 View Post
If you don't put 20% don't or don't have 20% equity in your house you have to pay that as a "just in case you foreclose" situation.
X2

Sixteen years ago when we bought our house - we only had like 5% to put down on our house. The loan was 135K and it was our first home. We had to pay $85 a month PMI insurance.

Once you've paid off 20% mortgage to value - you can call the bank and have them remove the PMI insurance charge. The bank will never call you. You need to be aware of 'when' you reach that point.

The fact you're loosing money every month does suck. However - getting into a house VS waiting and waiting and waiting to save up 20% is hard to do. We paid the PMI insurance for up to 5 years (can't remember). Our house was paid off in 15. I honestly can't complain about the PMI.
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