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Reply to "Another how much PITI can we afford post"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. Here's why I don't want to be attached anymore. Living in a rowhouse we dealt with: -A hoarding neighbor with a cockroach infestation that infiltrated our walls. It was only made better by.... -Neighbor home catching fire causing soot damage that traveled into multiple adjacent rowhouses. Displaced for nearly a year due to this, though on the plus side, not a cockroach since we moved back in. -Smoke that infiltrated brick walls and nothing would make it better; running an air purifier nonstop when I had a newborn Also just sick of hearing loud noises at all hours, still with the wafting smoke, and on and on. I also freaking love gardening and I want to garden the sh*t out of a backyard that's bigger than a rowhouse plot. So SFH only. [b]For college savings... I own about a quarter of my mom's house (she died) and informed my siblings I want my quarter, so at some point I'll get it.[/b] They are going to rent the house, but I don't want the share as it's in another state. Probably $80k when all is said and done, and I will add this to the kids college fund.[/quote] please address this plan. How many siblings are there? How certain are you that they will sell so you can get your quarter when you need it? If they don’t want to sell you may have time consuming legal battles. Just saying, don’t count on a co-owned property being a reliable source of funds for something like kids college.[/quote] I don't want to go into details, they are all aware and there are no legal battles whatsoever. Conversations already been had. Option was actually offered to me awhile back, but I was young and stupid then. We'd get to two years state school regardless. Plan is 500 to 600 a month per child after home purchase (currently doing a bit more than that but will scale back to 500 a month after home purchase), raise if we can and we'll get to two years of state school. Pulling out my home share just gives extra padding.[/quote]
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