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Real Estate
Reply to "First Post -- How much house ($$$) can we afford??"
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[quote=Anonymous][quote=Anonymous]I agree with the above poster. Hold off on buying for now and rent. Your money will go a lot further one year from now. [/quote] Not if interest rates go up. OP is a low cash buyer. Horrible position to be in with rising rates. Also, I bought my first home in the DC area at age 22 with my college boyfriend. The house was in Vienna Woods, SFH, interest rate 7.25%, 3% down, on a 130k combined income. We sold that house for 650k. We are now 41 years old and have a PITI of 2,400/mo on a home worth 1.2M. All this due to combining resources early and taking a risk. It is pretty amazing, now 19 year later to be sitting on 900k in equity, high income and low housing costs.[/quote]
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