September 2009 Weddings
pennstated912
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Discouraged
DH and I found a house that we really love and wanted to put an offer on. We started to get really excited, picking out new carpets and paint colors - all under the assumption that we would be putting in an offer today. Last night, FIL (who is also our realtor), told us that he thinks we can't afford it monthly because of the debt we still have. Since moving home, we have paid off over 7k in debt and both of us have higher paying jobs.
If we start looking at houses under this price point, we are going to be looking at soley fixer uppers. This house needed the carpets to be torn out and new paint, everything else was worth the money. I feel like we are never going to find a house, and never going to leave his parents' place.
If we start looking at houses under this price point, we are going to be looking at soley fixer uppers. This house needed the carpets to be torn out and new paint, everything else was worth the money. I feel like we are never going to find a house, and never going to leave his parents' place.
Re: Discouraged
Have you made up a monthly budget and seen for yourselves whether or not you can afford it. If not, you really should do that. I wouldn't solely rely on someone else's opinion without proving it out for myself first.
If you need help, let me know
| cute shoes make me happy |
Do you have a working budget? Have you reviewed your debt-to-income ratio? Have you been pre-approved for a loan at all? These are all things you should consider before counting yourself out. It might be discouraging, but at least it will help you figure out what you can afford rather than living outside your means and setting yourself up for failure in the longrun. Not trying to ruin your plans, just being realistic -- I see these situations every day and nothing sucks more than a foreclosure.
If you want to talk more personally about your situation, feel free to PM me or FBM me anytime!
updated 10.03.12
Those are concerns for any homeowner, though... I don't think it's fair of him to count you out. I think he's working more as a FIL than your realtor here.
Not to pry, but how about savings? Are you able to put anyway away in your monthly budget?
updated 10.03.12
I definitely wouldn't put much weight on the amount you were pre-approved for by the bank. When we were house hunting and we did our budget, we calculated what we could afford. The banks approved us for more than double that amount!
Your FIL is right that you have to be sure that you will have enough to cover incidentals and unexpected repairs. Do you have an emergency savings account? Maybe you just need to wait a little longer until you can save a bit more.
| cute shoes make me happy |
I agree with the others -- what you got pre-approved for has no bearing on what you can actually afford. Keep in mind that your monthly cost will be determined by the interest rate on your loan, and may also include your property taxes, PMI (if you're not doing a down payment), homeowner's insurance, etc. Things may be more expensive than you think they will be, and the last thing you want to do is buy a house and have no money to furnish it or end up living outside your means.
Congrats to both my TTC buddies, Amberley18 and sb2006 on their beautiful babies!