Finally, cindygenit has a home!!!

[cindygenit]

Wooot!!! Just completed settlement for my new 3 bedroom unit in the burbs

The bank is gonna clean out our savings account this afternoon, but hey at least its going to a good investment...Its going to be so devastating to look at our bank acounts now though. We have to start all over again...

 

[Lynnie]

Woot! Congrats!

Haha... we just settled too, on the 15th. I miss my old bank account balance too

 

[lilyfoot]

Congratulations!

Sorry about the bank account, but just take it one day at a time ..

Enjoy your new house!

 

[Luckyeshe]

Congrats on homeownership!!!!

 

[gemgirl]

Oh I know that feeling. I bought my house as a single person eighteen years ago and seeing my bank account go from THAT to that.... gave me a funny twinge in my gut, but hey, like you said, it is going into a very good investment. There''s nothing like home ownership!

The best of luck to the both of you. I hope you have many happy days, happy years and special occasions in your new home.

 

[oddoneout]

Congrats on the new home.

 

[MagsyMay]

Congratulations!! That must feel so exciting!

 

[MichelleCarmen]

Congratulations!

 

[princessplease]

YAY!!!!!!!!!!!!!!!!!!!!!!!!!!

Congrats!!!!!!!!!!!!!!!

 

[Rock_of_Love]

Yay!!! Congrats!!!

 

[Tacori E-ring]

It''s worth it! Congrats on your new home!

 

[crystalheart1]

Congratulations... SO happy for you. Just think of the rewards of home ownership..
Just in time for the holidays...

 

[cindygenit]

Thank you all!

I feel so happy and excited! I am so glad this is all done, and I love my new beautiful kitchen!!!

 

[Haven]

CONGRATULATIONS Cindy! That is so wonderful.

Enjoy being a homeowner! I love owning our home, we''re always taking care of it and making it our own little haven from the world.

 

[cindygenit]

I have a question for all homeowners!

Do you try to pay off the loan ASAP or just take your time? People here are advising me different things, and I am SO confused

My colleage, J, told me to take it easy. The house''s value will increase by a lot more than the interest you have to pay on the loan.

Another colleage, R, said to pay off that loan ASAP and put your every penny towards paying off the house.

So, which one? TIA!

 

[Haven]

Hi Cindy!

The answer to your question really depends on your financial situation. And, on the person you ask.

I really like Dave Ramsey''s advice. It''s very simple, and it goes something like this:
These are his "baby steps" from daveramsey.com:
1. Save $1,000 to start an Emergency Fund
2. Pay off all debt (other than home mortgage) using the Debt Snowball
3. Save 3 to 6 months of expenses in savings
4. Invest 15% of household income into Roth IRAs and pre-tax retirement
5. Save College funding for children
6. Pay off home early
7. Build wealth and give! Invest in mutual funds and real estate

The only thing I take issue with is the emergency fund. I prefer having one year''s worth of expenses in our emergency fund rather than 3 to 6 months.

So, he puts paying off your mortgage early pretty low on the list if you have other debts and not enough saved or put away for retirement.

I definitely think you can''t go wrong paying off your mortgage early, that''s for sure!

 

[butterfly 17]

Congrats!

 

[Diva0413]

YAY Cindy!!!! CONGRATS!!!!

 

[luv2sparkle]

WooHoo! Congratulations!!!!! Hope you have many happy memories in your new home!

 

[Bliss]

YAAAAAAAAAAAY!!!

Congrats!!!!!!!!!!!!!!!!!!!