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Reply to "Extra monthly cash: pay down mortgage or save for downpayment (not the same thing!)"
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[quote=Anonymous]OP back I totally agree that we’re not in the ideal place to think about upgrading, BUT I see an advantage of stretching in the near future, getting more house in this buyers’ market, and getting out before we really ‘need’ to. Who’s to say that we won’t be priced out of our desired area once the kids reach the end of 5th grade? Here’s how I justify it: I – the ‘breadwinner’ - work for the gov’t, so my salary will slowly keep rising. DH is in academic so his won’t I estimate our child care costs will only go down $600/month once DC1 starts school – we’ll still need after care, and activities/etc. My exceedingly generous parents have offered to loan us cash for a downpayment. I’d feel comfortable borrowing up to $50k from them – knowing we’ll pay it back (& they have plenty to share) [/quote]
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