Life is good. Jen and I have been saving all year so we can buy a house in the near future. Actually Jen has been saving for 3-4 years as she really doesn’t buy much anyways, however not so much with me. This year I started with 0 savings, and by the end of the year I will have over 15k saved. + whatever I receive out of my grandfathers estate, which I do not expect to be much. I also would have maxed out my IRA account by spring as well. I am clearly on pace for those two goals. I am really excited about the opportunity to buy down my interest rate to 0%. Would cost us about 34k to buy down to 0% with a 200,000 Mortgage, and our monthly payment would be around $555, which would all go to principle. However I may not buy down all the way to 0, maybe 1-2. To know that I would have a property for the rest of my life for $555 a month, is very secure. To know that I would have saved 50-250k on interest over those 30 years by taking the hit for 34k when im 26-27, I like it. If I were to rent for 10-15 years until I could save enough to actually buy the home outright, the money in rent would easily outweigh the 34k upfront. Shit it would taken only 3 years to hit 34k renting.(unless I stay in this very small 1br apartment, then its a little less.)
All in all, I am very grateful that I have been put in a position to be surrounded by friends who genuinely care about my well being, and my financial future. Thank you all.
