New House - I have to Get this Out

[Deleted]

Congrats!!!

[larzhope]

before your H wakes up, come up with a plan of where you can cut $140 out of your current budget Congrats, that is so exciting!

[dana86]

We were in the same boat with our new place and the final payment being a little more than what we wanted. But we went for it and are happy we did Theres always room to cut elsewhere if needed.

[Deleted]

((SOOOTIFF))

psst, that's arms holding you!

congratulations!

[FrozenSunshine]

Congrats!

[karebear219]

Does the HOA cover some things that you might be paying now to offset the extra $140? What about adjusting your tax with holding since you'll now have a write off for the interest from your mortgage?

Just some ideas Congradulations!

[monsterz]

This is a new construction, so you have plenty of time to save up more for a downpayment to reduce the payment, or does the calculation of the monthly payment include everything you will have saved by the time you close.

[larzhope]

Apr 15, 2014 18:06:51 GMT -5 Tiff said:

Apr 15, 2014 17:41:40 GMT -5 monsterz said:

This is a new construction, so you have plenty of time to save up more for a downpayment to reduce the payment, or does the calculation of the monthly payment include everything you will have saved by the time you close.

It includes everything we will have saved...however doesn't include should we decide to have the builder do any upgrades, etc.

Negotiate the upgrades in- that's what we did. We negotiated closing costs + 10k in upgrades. The builder won't budget on purchase price so you should have some wiggle room in the stuff that they don't have to report

[fiddles]

I might be in the minority here but I wouldn't go for the higher mortgage While you may have qualified for it I would still stay within the budget that you guys started.

Owning a house sometimes sucks. Things pop up last minute that can turn expensive.

[toratoratori]

$140 a month, in the scheme of things, isn't all that bad. I'm sure you guys can find places to trim your monthly budget to make up for it. Eating out, perhaps? (That's a big expense for us.)

Also, CONGRATULATIONS! Did you already share pics? I want to see!

[sarack]

Apr 15, 2014 16:37:58 GMT -5 dana86 said:

We were in the same boat with our new place and the final payment being a little more than what we wanted. But we went for it and are happy we did Theres always room to cut elsewhere if needed.

this for us too.

[toratoratori]

Apr 16, 2014 13:11:26 GMT -5 Tiff said:

fiddles - I get what you're saying. We've been going back and forth on the whole thing in general just because it's a big expense that's completely new to us, making it pretty scary.

toratoratori - that's a huge expense for us too (going out to eat), and is really something we're TRYING to be more aware of. My husband added up the total in the last month and I almost choked!

We have a $400 / month budget for eating out every month that we regularly exceed. We're trying to prepare ourselves to drop that way down when the baby comes, buttttttttt ... :\