Hello, I am going to be 31 years old soon. House prices aren't bad in my area luckily. I have been house shopping for awhile now. At first my budget was around 80k which equates to around 25% of my take home after taxes on a 15 year mortgage. I can afford this and these are wonderful homes that have all the bells and whistles, more than I need really. I've also noticed a few houses that are very low priced about 34k that needs a little work done 10k and it would be in great shape, that I could buy and be happy with since I don't feel I need much. There are downsides of course like being outdated, not having much of a yard and the location etc. My issue is my girlfriend of several years will be living with me and she keeps emailing me houses that are 80-100k and I really don't think I want to live in a nice house like this, yet anyway. I want to be able to buy it with cash in the years to come. I am very happy living in a small unappealing house that I can pay off in 2-3 years. (If I am being honest probably faster) My down payment would be around 50%. I have no debts and a down payment saved up. One of the problems I could see is it being hard to sell later on though and me being stuck paying property taxes on it for a couple years. What do you guys/gals think?
Tdlr; I want to live in a 35k house pay it off in 2 years while I save for a nicer house to buy with cash. Bad idea?
Submitted April 25, 2019 at 05:08AM by truedouche http://bit.ly/2XMYrrH
