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Saving to Buy a house in CASH
Me and my husband have come to the conclusion after doing research for several months and being turned down for a home loan that instead of making loan payments anyways that we would rather pay for our house in cash. I have figured out all my money planning including paying off the rest of his debts for the next 5 years and if we pay all our bills and my student loans we will be able to save enough to buy a house up to around $124,000 in CASH. We do not however want to spend that much to begin with and want to look in to buying a foreclosure and the one we looked at was only $45,000 4 bedroom 2 bath it did obviously need repairs but it is something that me and him have discussed for a long time about and are willing to take on that responsibility.
I guess my question is what do you think and do you have any other ideas for money saving tips?
Re: Saving to Buy a house in CASH
I would aim to pay off all consumer debt but woud not worry about student loans.
Why were you turned down for a loan? Poor credit, too much debt, insufficient income, no downpayment & insusfficient savings? Basically live frugally, necessities at best price, non essentials - limit and find the best price.
(Language lesson:--- it is NOT Me and my husband --- it is My husband and I)