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

Discussion in 'Stocks & Investments' started by gupster88, Apr 19, 2013.

?

Buy trailer now? Or house later

  1. Buy trailer now, save up some, sell it, buy a house later

    18 vote(s)
    20.5%
  2. Screw the trailerhood life, save up now, buy house sooner

    65 vote(s)
    73.9%
  3. You tell me

    5 vote(s)
    5.7%
  1. May 19, 2013 at 8:07 PM
    #101
    gupster88

    gupster88 [OP] Well-Known Member

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    STOCK 4 NOW
    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.
     
  2. May 19, 2013 at 8:09 PM
    #102
    OZ-T

    OZ-T Thats what it is to be a slave ...

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    Oh , I see

    We have a similar option
     
  3. May 20, 2013 at 12:08 AM
    #103
    EricTheRed

    EricTheRed Damn dirty Swede

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  4. May 20, 2013 at 2:31 PM
    #104
    Fenwick1993

    Fenwick1993 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.
     
  5. May 20, 2013 at 7:25 PM
    #105
    gupster88

    gupster88 [OP] Well-Known Member

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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!
     
  6. May 21, 2013 at 5:46 AM
    #106
    hetkind

    hetkind Well-Known Member

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    Congrats, I think you made the correct decision...

    Howard
     
  7. May 21, 2013 at 6:33 AM
    #107
    Janster

    Janster Old & Forgetful

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    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.
     
  8. May 21, 2013 at 8:53 AM
    #108
    OZ-T

    OZ-T Thats what it is to be a slave ...

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