buying a home
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buying a home
| Mon, 07-19-2004 - 3:04pm |
Im not sure if im making the right decision. I am a single mom of a 3 yr old who works and goes to school. I want a home so bad. I put a offer in on this house and im going to be broke. I will have like 200 left at the end of the month after everything is paid for. SHould i do it

That sounds VERY tight.
Does that mean you've already budgeted in
Car repairs
Clothing for you and Kids
Daycare/babysitting expenses
School Supplies
Occasional Entertainment
Unexpected Medical
????
Ack!
However, just listen to me. Do you have several thousand put aside for emergencies?
I was in a car accident 2 years ago, not my fault. I haven't worked since. Although I had a disability policy...they fought it and I didn't get paid until 18 months after the accident. I'm still waiting for the insurance company to settle....
Something else to consider...
Car repairs are expensive. I found out today that my 2 yr old van needs front and rear brakes, my rotors turned, and a new air filter housing because I had been using a "cheap" service for oil changes...and they broke the housing...saying that it was broken when I brought it in. Yeah right. All told...this is going to run me about $800.00 OUCH!!!
The idea of a roomate sounds good...but I just wanted you to be aware that there are emergencies that crop up out of nowhere, besides the ones that you think about...and they are not always cheap...
Lots of questions to help you evaluate.....
No matter how tight you try to make the budget, there are always emergencies. And a new home brings new expenses (besides the want to decorate) like changing locks, landscaping tools and supplies, window coverings (if you don't have them), all sorts of supplies like light bulbs, batteries, caulk, bug spray, tools, stuff like that.
There are ways to cut and be frugal and a home is a good investment. Good luck with your decision!!
GO FOR IT! Everyone is broke after they buy a house. I had to borrow $20 from my morgage agent! LMAO
Laura