Reply to Housing prices are nuts. Did you buy anyway?

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Reply to "Housing prices are nuts. Did you buy anyway?"

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[quote=Anonymous]Yep.  And yep.

My mortgage is $2100.  My rent when I left my apartment and bought this townhouse was up to almost $1600.  So for $500 more, I got double the space, am building equity, and a break on my taxes.

Our timing was shit in terms of buying.  Bought in 2007 toward the end of the bubble.  Houses declined a bit more after we bought and then steadily went back up.  We could probably sell today for only about 10k more than what we paid BUT we've been paying down the principle through the mortgage and would net about $90k if we sold next year.

Despite the stupid SFH housing prices here, we are looking to trade up in two years.  We want a forever home and this townhouse...aint it.  So we're waiting for daycare to end and then will aggressively save to build up as much of a downpayment that we can to add to our equity and then bite the bullet.

I would definitely move out of the area if I could but..my job is ten minutes away, both sets of grandparents are twenty minutes in either direction (so we're the halfway point), and one sibling live five minutes away and the other in DC.  The location is exactly what we want.  So we're just accepting that this is what it is.[/quote]

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