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Originally Posted by DianaB
Ok, the MOM in me is going to come out here (sorry) but this is something that I would say to my kids.
Please go over your figures and please make sure that you have enough money to still enjoy life. You're still in college and the last thing that you want is to be so tied down with debt while you're still in school that you can't have some fun. I'm very happy for you to be getting a home and I don't mean to be a spoil sport but, as I said, I would be giving this speech to my own children.
If you've already checked and double-checked then go for it!!!
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I'm sorry Diana, I just saw this post for the first time today. I don't know how I missed it before!! I wasn't trying to ignore your advice...
A little background on my hubby and I so that you guys don't think we are just jumping into this: We have been married for 3 years. This whole time we have been saving EVERY little bit we can so that we would have enough for a down payment when it came time to buy a house. For the past 2.5 years, we have lived in the crappiest apartment you could imagine. Horrible landlords who don't do anything, no w/d hookups, the loudest neighbors in the world...etc. We did this because the rent was cheap and we would much rather spend a few years in a less than ideal situation if it means that we will have our own home when we graduate. We've tried SO hard to be smart with our money and feel that we are completely ready for this step. I only have 3 semesters and a field study left in my undergrad and then one year (three semester including summer) of grad school. I get a ton of scholarship money each semester that is sufficient to live off of. By buying a home now, we feel that we are investing in our future and would much rather do this than simply throw our money away for the next 2-3 years and THEN start saving for the future. We feel that it is the best option for our financial security.
I really do appreciate your concern and I know that it only means you don't want us to make a mistake, but we really have put a lot of thought into it. We're excited!
We are going back to the property either Friday or Monday to do a few things, so I'll try to take some pictures. They'll definitely be the before pictures, with piles of tile in the middle of the floor and lots of equipment and tools and such, but I'll post after pictures later for comparison.