We found the house of our dreams!!!

**Wendy99** · 06-06-2009, 11:13 AM

We weren't even actively looking, but we found the house of our dreams!! It had everything we wanted (nothing more, it was not outrageous). Currently our house is 800 square feet, the new house has 1500 square feet and the same size lot. It's in a great neighbourhood - same school zone. Our current mortgage is about $89,000.00, our new mortgage (after using the equity from selling our home etc) will be approximately $165,000.00. Our payments would only increase about $60 +/- a month, but we extend from having our mortgage paid off in about 13 years (depending on rates etc at renewal) to having our mortgage paid off at 35 years. I called about home insurance it would increase about $30 a month. At times we are tight now, but if we go a little more tighter and and watch our pennies a bit more. If things are hard we can always cancel cable - it's not a neccesity after all. After 4 years (which would be our term as we have to port our current mortgage over) I'm sure the interest rates will be higher, but we're hoping to have a bigger income by that time which would cover that.

House of our dreams and WE WERE DREAMING. I cant believe we almost did that!!! What were we thinking - what I wrote above is what we kept telling ourselves. We are pleased that we came to the decision to stay exactly where we are right now & let the house of our dreams pass along until we are ready and at that time, we will then find another 'house of our dreams'.

**kcsmom76** · 06-06-2009, 11:41 AM

Originally Posted by Wendy99

We weren't even actively looking, but we found the house of our dreams!! It had everything we wanted (nothing more, it was not outrageous). Currently our house is 800 square feet, the new house has 1500 square feet and the same size lot. It's in a great neighbourhood - same school zone. Our current mortgage is about $89,000.00, our new mortgage (after using the equity from selling our home etc) will be approximately $165,000.00. Our payments would only increase about $60 +/- a month, but we extend from having our mortgage paid off in about 13 years (depending on rates etc at renewal) to having our mortgage paid off at 35 years. I called about home insurance it would increase about $30 a month. At times we are tight now, but if we go a little more tighter and and watch our pennies a bit more. If things are hard we can always cancel cable - it's not a neccesity after all. After 4 years (which would be our term as we have to port our current mortgage over) I'm sure the interest rates will be higher, but we're hoping to have a bigger income by that time which would cover that.

House of our dreams and WE WERE DREAMING. I cant believe we almost did that!!! What were we thinking - what I wrote above is what we kept telling ourselves. We are pleased that we came to the decision to stay exactly where we are right now & let the house of our dreams pass along until we are ready and at that time, we will then find another 'house of our dreams'.

Oh my goodness!!! You had me scared to death!!! I am so glad you came to your senses and decided to stay where you are. You can dream and dream and dream and one day you will come along on another more fabulous home and it won't hard to come by.

I have those dreams to so I know what you mean. I keep dreaming about adding this or that to this home. Or selling and moving to this other home and have myself convinced, but I come back down to earth and just keep dreaming. One day it will be a reality. (((hugs)))

**Wendy99** · 06-06-2009, 12:12 PM

Thank you, I have no idea what we were thinking (obviously we weren't), we almost signed the papers etc & then reality hit me! Potentionally we could have lost everything had we moved & the finances didnt work out. I'd rather live in our 'small' home and own it, rather than risk not owning anything at all.

**Sassyclass** · 06-06-2009, 01:06 PM

Oh yeah, you had me going too. I thought why would they even think of buying another house when she's talking about giving up cable to make the payment? I'm thinking that's really cutting it too close. I'm glad you guys woke up from that dream,(more like a nightmare).

But it is nice to have dreams and hopefully yours will come true when the time is right.

Cat

**Gibs** · 06-07-2009, 04:46 PM

I am glad that you came to the right decisions, another house will come up when the time and money is right.

**miss_thrifty** · 06-07-2009, 07:09 PM

when its the right time ull know.

**strezzed** · 06-07-2009, 08:28 PM

You definitely made the right decision. It couldn't have been easy, but it was in your best interests.

**pecunierrant** · 06-09-2009, 02:03 PM

You did a very smart hting staying put, good for you. We've done the same, same sized house too with 5 in the family it's a squeeze. rather keep our debt load low so we've stayed put also.