Quote:
Originally Posted by daepp
Do it. The region you describe will always be a good place to live, so if you can find something you can afford (with conventional d/p and loan) then do it.
With regard to the 6 month reserve for contingencies - what % of buyers over the last 40 years have done so? How many Pelicans herein purchased their 1st home only after meeting this requirement?
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The question should be: How many run their finances according to proven financial principles and how many go through life by the method of "hope for the best"?
In any case a house is a poor financial investment the vast majority of the time. Make your money work as hard as you do, or be a wage slave for the rest of your life.