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if the mortgage is less then rent, sure, that's always a good sign,
you have 3 income streams, your's the wife and the relative.
you have 3 adults at home.
hard to fuck up.
Now, here's what i would suggest.
Super insulate the roof and attic, so you use less energy.
Install a solar hot water heater, so you can always have hot water,
even if there is an interruption in utilities.
Add in rain barrels and perhaps a water cistern...
maybe a small 1500 watt PV array so you have critical power.
Clara
2011 Jun 19, 2:26pm
Good suggestion, I will definitely consider that.
if the mortgage is less then rent, sure, that’s always a good sign,
you have 3 income streams, your’s the wife and the relative.
you have 3 adults at home.
hard to fuck up.
Now, here’s what i would suggest.Super insulate the roof and attic, so you use less energy.
Install a solar hot water heater, so you can always have hot water,
even if there is an interruption in utilities.
Add in rain barrels and perhaps a water cistern…
maybe a small 1500 watt PV array so you have critical power.
« First « Previous Comments 57 - 58 of 58 Search these comments
Recently bought (Jan 2011) for $550k, put $150k down, mortgage is $400k at 4.5%, no points for 30 years. My wife and I make about $160k annually.
No debt, got a newborn coming, both cars paid. Mortgage is about $2026 permonth. We pay $200 more per month to the principle, scheduled biweekly payment plan to cut down from 30 to 20 years mortgage etc.
Renting out 1 room to a relative and making $500 for it monthly. We have 401k with about $300k in it and $150k cash/investment.
We try to save a little money just in case double dip, RE crash or U.S go bankrupt etc. We stored foods, water and gasoline and medicines just in case)
We try to do the right things and pay bills on time. Our big worry is whether we did buy the house in the right time. Rent to own ratio make sense in our case. It's cheaper to pay my mortgage than paying rent for the same house (2300sqft, 4beds, 3baths, 2 stories, nice view, rent at $2400-2500)
#housing