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Originally Posted by hunniebunnie actually, if cost of renting is $400/month and cost of owning is $642/month (insurance and property taxes counts as a monthly cost of ownership!) plus maintenance (owning means you're in charge of maintenance so when water pipes breaks, roof leaks, circuit breaker craps out, water heater dies, etc etc, you have to have money set aside to pay for the supplies even if you do the labor yourself.) renting means your landlord is financially responsible for all that maintence stuff and you don't have to worry about insurance and property taxes. so renting may not be that stupid if it can reduce your monthly cost of shelter by at least 1/3.
but so long as you and your hubby's worked out on paper a realistic financial plan for the next year, then you'll be well underway to financial recovery. work on your credit and get a real home loan! then you'll have other options when you get into a financial bind! good luck! |
I know.. WE have talked thru all this and now just trying to dig out of a hole. Im sorry if i came across as an A$$. I really sisnt mean to. I re read my post and it didnt sound very nice. Im sorry!