We've been buying and rebuilding homes for 25 years and I love it! I've always been excited about finishing a project and moving on to the next one but I think I want to stay in this one forever. We just bought our cabin last spring and I love it...it feels like my first home all over again.
Check with your lending institution and see if you can pay a little extra towards 'PRINCIPAL ONLY' each month...you'd be surprised how much it will take off the term of your loan. If you look at your statement you'll see how much actually goes towards your principal...not much. So, if you pay that amount extra on principal only it's like making a double payment. Also, see if you can split your monthly payment, pay half every 2 weeks instead of once a month...we were told that will cut some of the interest you pay. Make sure you have no prepayment penalties...some loans still carry those and they can be a bunch. Good luck in your new home and remember...a red front door invites wealth and prosperity into your home...mine is getting painted in the spring! |