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When you're debt free will you mortgage?
milliejon
Posts: 1,052 Forumite
I'm so commited to being debt free, but I'm torn.
I want dearly to own my own house to bring my lovely kids up in. I want this to be their security when my husband and I have gone.
I've owned a house in the past (but then got divorced and left it behind without a penny to show for it!) and have rented for the past 9 years.
When I eventually finish my DMP and my credit rating is feeling better, I would love to buy a house. I'm torn because I feel this goes against everything I believe in (and happily preach to anyone who will listen) about being debt free.
Does anyone have any thoughts on this?
I want dearly to own my own house to bring my lovely kids up in. I want this to be their security when my husband and I have gone.
I've owned a house in the past (but then got divorced and left it behind without a penny to show for it!) and have rented for the past 9 years.
When I eventually finish my DMP and my credit rating is feeling better, I would love to buy a house. I'm torn because I feel this goes against everything I believe in (and happily preach to anyone who will listen) about being debt free.
Does anyone have any thoughts on this?
DMP mutual support number 174
Total debt now (April 10) £0! - total paid off £30,221 or 100%
I'm now debt free after 6 years!!:j
Non smoker since June 2006 :j
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Comments
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No - see it as a new mission!
I mean, once you are debt free there will be nothing to work towards!
Once you are debt free, join the mortgage-free club on the other boards! They are committed to paying off their mortgage as fast as possible!0 -
And excellent on the stopping smoking by the way!0
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I suppose I'll have this site to help choose the best mortgage too.
The non-smoking is great, but the money is yet to materialise in my bank account. I don't understand where that money's gone. I suspect we've bought nicer/more food!DMP mutual support number 174Total debt now (April 10) £0! - total paid off £30,221 or 100%I'm now debt free after 6 years!!:jNon smoker since June 2006 :j0 -
No, debt free, mortgage free and it's effing brilliant I have no desire at the moment to own my own home having been in the same position as the op, I am now happy to rent, as for the childrens legacy, they see how I live and how stress free it is for me that is enough of a legacy as I have already taught them all how to fish.Four guns yet only one trigger prepare for a volley.Together we can make a difference.0
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After I am debt free, I will aim to be mortagae free. Then I can live my life without paying a penny for a roof over my head.Barclaycard 3800
Nothing to do but hibernate till spring
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im going to be buying the house im in now. way i see it im paying rent for this place might as well be going towards buying it0
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I'm sorry but I just can't understand why everyone thinks renting is so great. You have to pay to live somewhere, so you might as well be paying a mortgage. If for example you rent for 25 years paying £500 or so a month, at the end of that time you will have nothing to show for it and it will be 25 years of paying someone else's mortgage, throwing your money down the pan, but if you pay your own mortgage you will eventually own a house outright.The forest would be very silent if no birds sang except for the birds that sang the best0
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The reason I'm becoming debt free is to get a mortgage!!
Official DFW Nerd Club - Member no. 092
::£2 - CSC - Terramundi is filling up!! :: Joined 3/3/06 :: 5/2/07 - 835kg + £280 Banked!!::
::5p,10p & 20p - Savings Tin :: Founded 9/4/06 :: 23/3/07 - 3.2kg ::
Lost to date - 9kg (22/8/06) Next weigh in 2007!!0 -
Unfortunately my experience has been I pay the mortgage she gets the house!Four guns yet only one trigger prepare for a volley.Together we can make a difference.0
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My morgage will be my pension in years to come.
It's like contributing to a savings plan and as we all know, that can be a wise move.
Do not allow the risk of failure to stop you trying!0
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