Comments on: Is it Time to Buy the McMansion? Temptations from the Sub-Prime Mess http://www.creditwithdrawal.com/wordpress/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/ Helping You Kick the Credit Habit, One Good Idea at a Time Thu, 31 Dec 2009 04:56:04 -0700 http://wordpress.org/?v=2.8 hourly 1 By: Sunday Personal Finance Evangelism | Amateur Asset Allocator http://www.creditwithdrawal.com/wordpress/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/comment-page-1/#comment-1658 Sunday Personal Finance Evangelism | Amateur Asset Allocator Sun, 13 Apr 2008 16:09:22 +0000 http://www.creditwithdrawal.com/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/#comment-1658 [...] Withdrawal asks if it’s time to buy a McMansion amid the subprime debacle.  I think those things are hideously ugly so I would never buy one [...] [...] Withdrawal asks if it’s time to buy a McMansion amid the subprime debacle.  I think those things are hideously ugly so I would never buy one [...]

]]> By: Remodeling This Life » Sunday Roundup http://www.creditwithdrawal.com/wordpress/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/comment-page-1/#comment-1657 Remodeling This Life » Sunday Roundup Sun, 13 Apr 2008 09:04:36 +0000 http://www.creditwithdrawal.com/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/#comment-1657 [...] Withdrawal asks Is it Time to Buy the McMansion? Find [...] [...] Withdrawal asks Is it Time to Buy the McMansion? Find [...]

]]> By: Pete http://www.creditwithdrawal.com/wordpress/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/comment-page-1/#comment-1636 Pete Wed, 09 Apr 2008 04:54:48 +0000 http://www.creditwithdrawal.com/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/#comment-1636 One thing I've learned is that there's always something better than what you're living in. If you do need the space, a new house fits into the budget, and you can find something that is a good deal, right now or in the near future is probably as good a time as any to jump into a new place. I know that house we bought new a year and a half ago is now going for almost 30-40 grand less now. With those kind of drops it can be hard sometimes to stay the course and remember that the investment is for the long term. Good luck! <em><strong>Pete's last blog post..<a href='http://feeds.feedburner.com/~r/BibleMoneyMatters/~3/266779001/reminder-signup-with-revolution-money.html' rel="nofollow">Reminder: Signup with Revolution Money Exchange by April 15th for a $25 bonus!</a></strong></em> One thing I’ve learned is that there’s always something better than what you’re living in. If you do need the space, a new house fits into the budget, and you can find something that is a good deal, right now or in the near future is probably as good a time as any to jump into a new place.

I know that house we bought new a year and a half ago is now going for almost 30-40 grand less now. With those kind of drops it can be hard sometimes to stay the course and remember that the investment is for the long term.

Good luck!

Pete’s last blog post..Reminder: Signup with Revolution Money Exchange by April 15th for a $25 bonus!

]]> By: Mrs. Micah http://www.creditwithdrawal.com/wordpress/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/comment-page-1/#comment-1633 Mrs. Micah Tue, 08 Apr 2008 02:52:48 +0000 http://www.creditwithdrawal.com/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/#comment-1633 If it's in line with your personal and financial goals AND if you can afford it...then I think it could be a good decision. When you're ready. :) I grew up in a pleasant house in a pleasant neighborhood (not McMansions, actually, at least they might have been in the 60s, but it was a comfortable size split level with real trees all throughout the neighborhood). That was a good memory and I know that having our particular house helped. It was a much pleasanter place to live than the neighborhoods on either side. Sometimes exact place makes a big difference. If it’s in line with your personal and financial goals AND if you can afford it…then I think it could be a good decision. When you’re ready. :)

I grew up in a pleasant house in a pleasant neighborhood (not McMansions, actually, at least they might have been in the 60s, but it was a comfortable size split level with real trees all throughout the neighborhood). That was a good memory and I know that having our particular house helped. It was a much pleasanter place to live than the neighborhoods on either side. Sometimes exact place makes a big difference.

]]> By: Becca http://www.creditwithdrawal.com/wordpress/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/comment-page-1/#comment-1630 Becca Mon, 07 Apr 2008 22:32:40 +0000 http://www.creditwithdrawal.com/2008/04/07/is-it-time-to-buy-the-mcmansion-temptations-from-the-sub-prime-mess/#comment-1630 I think if you have your consumer debt paid off (or significantly down) and can come up with a down payment (either in equity or savings), you should go for it. Being cramped is no fun. We lived in a partially finished basement with a total of 700 finished square feet for a year and a half. Now we own 1200 square feet with only one public area (kitchen, dining area, and living room combined). Luckily, we have three bedrooms and no kids, but that will change soon (we hope anyway) which will mean some major rearranging of space. Look around, be smart about what you can actually afford to buy, but don't be afraid to try to find "the" house. We are in a somewhat similar situation. We currently own two houses. We live in one and the other is rented until June. My husband graduates in May 09 and we just don't know if we will have a kid by then, or not, if we want to stay or move somewhere else, if we want to sell the rental house now or try to rent it out again. We are hoping to be out of CC debt by the end of the year, but everything is relative to the economy. Good luck! I think if you have your consumer debt paid off (or significantly down) and can come up with a down payment (either in equity or savings), you should go for it. Being cramped is no fun. We lived in a partially finished basement with a total of 700 finished square feet for a year and a half. Now we own 1200 square feet with only one public area (kitchen, dining area, and living room combined). Luckily, we have three bedrooms and no kids, but that will change soon (we hope anyway) which will mean some major rearranging of space.
Look around, be smart about what you can actually afford to buy, but don’t be afraid to try to find “the” house.
We are in a somewhat similar situation. We currently own two houses. We live in one and the other is rented until June. My husband graduates in May 09 and we just don’t know if we will have a kid by then, or not, if we want to stay or move somewhere else, if we want to sell the rental house now or try to rent it out again. We are hoping to be out of CC debt by the end of the year, but everything is relative to the economy. Good luck!

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