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How much to spend on first house?
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i think you should spend as little as possible on a house and save up the extra cash you would have been paying on a mortgage for paying off lump sums, that's what we plan to do very two years when the fixed rate runs out. i have friends that have got the maximum mortgage they can afford based on two incomes but what happens if you have a baby. parenting forums are flooded with mums that can't afford to stay at home and it breaks their heart.It's definitely not definately!0
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Thanks for all the opinions above, would just like to give you an update.......
We spent all weekend looking at houses, the terreced ones in Edgeley 120k, and then completly by chance drove past a new build estate not more than 5 mins away in Cale Green. Popped in to see what they have got on the off chance, turns out a house (their last 3 bed) had just become re-available due to another couple not able to complete as their chain had fallen through.
3 bed town house over three floors, end terraced. at 185K. 5% deposit paid, legal fees and stamp duties paid. The house is due to be completed in Aug and the previous people had already choosen loads (5K) of extras (kitchen appliances/alarm/floor and wall tiling bathroom and kitchenetc), because we are not getting a choice of kitchen they have thrown all that in for free, even though the kitchen is really nice. We are still able to choose the floor and wall tiles in kitchens and bathrooms!!
On Monday rang them to haggle for carpets, I said that if they do them aswell i could come and sign for it that day, after some toing and frowing they reluctantly agreed (over 2ks worth)!!
So basically 20k better off.........signed for it yesterday.
I know it is very different from what we were aiming at, but just fell in love with it. Without the support and advice from people on this forum i would not have felt comfortable even with the idea of a house and taking the big step, thanks.
BIG SHOUT OUT for Andrew Smith, gave him a ring to sort out the mortgage, top bloke with sound advice!!0 -
Brilliant news!!
Give my regards to stockport as Im a Stockport Exile meself!:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0
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