2007-10-30 01:32:02 · 4 answers · asked by Bosco C 1 in Business & Finance ➔ Renting & Real Estate
I can afford it but isn't buying another a little self indulgent? shouldn't i be happy where I am and maybe retire earlier? I'm having trouble justifying a bigger mortgage when my current home is above average but not my dream.
2007-10-30 03:13:45 · update #1
Well if you can afford it, go for it!!
2007-10-30 01:37:12 · answer #1 · answered by foxychick 4 · 0⤊ 0⤋
You should buy a house you can afford. Real estate grows in value, so the trick is buy what you can afford starting out, pay on it for a few years and watch the market in your area...then in a few years you may be surprised how much equity you have when you get a new appraisal on your home depending on the growth in your area and the condition of your home. You may then have enough to sale your "okay" house and walk away at closing with enough money to put a good chunk down on the "dream" home.
2007-10-30 08:41:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Morally, ethically, or financially?
I showed a house to a single man a few years ago and he loved it and could easily afford it. He said that he couldn't buy it however because he donates 50% of his income to charity and that made it hard for him to make those payments.
You need to decide what your goals are in your life and what the most important things in your life are. Then whatever they are---go for them.
2007-10-30 09:38:38 · answer #3 · answered by glenn 7 · 0⤊ 0⤋
If you can afford it easily, go for it. If you can't, keep dreaming.
2007-10-30 08:40:45 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋