A
female
age
36-40,
anonymous
writes:Im 25 years old and my man is 36 since we have been together ive brought up numorous times that i want to buy a home some day. I understood at the time that i didnt have a job that paid very well or that it only paid 6.75 but since then ive gotten a better job that pays 12.50 thats way more!!! He makes $17 an hour, so i assumed that both of us make pretty good. So what is the hold up is it more to buying a house or does he not want to buy a home with me. Reply to this Question
Share |
Fancy yourself as an agony aunt? Add your answer to this question! A
male
reader, mrmortgage +, writes (10 September 2009):
"Buying" a house is over rated. First thing I want you to do is look up the word MORTGAGE. You'll find that the word translates into "DEATH GRIP".
People in America get into a mortgage and they don't understand how it works. If you must get a mortgage the longest mortgage you want to get is a 10 to 15 year mortgage. 30 year mortgages aren't designed to be paid off. I recommend to never get any mortgage.
Don't use "buying" a house to gauge your relationship.
A
female
reader, CupidGirl826 +, writes (10 September 2009):
I think financially is probably the main reason.
The other, maybe commitment issues - buying a house together is a pretty big step (if not married and only GF/BF).
...............................
A
male
reader, LazyGuy  +, writes (10 September 2009):
 Read the news recently? Owning your own home is great, you spend a fortune, miss a few payments, and got NOTHING.
Those figures, are they after or before taxes? If it is before, then... it ain't much. While house prices are of course down at the moment, you would still be setting yourself up for the same risk that lead to the whole current economic mess.
Yes, it might be a sign he doesnt want to buy a house, but it might have nothing to do with you. He might just not believe that owning a house is a smart thing to do.
...............................
A
reader, anonymous, writes (10 September 2009): Do you have other debts? What kind of expenses do you have? Do you have money for a downpayment? How steady are your jobs?
Normally you would not want to have more than 35% of your gross family income going to the primary expenses associated with your home: principal and interest on the mortgage, plus heating plus property taxes. For you guys that's about $20,000 per year, or $1,700 per month. That's an absolute maximum.
And you shouldn't have more than 42% of your gross family income going to debt service of all kinds. So if you have other debt, like credit cards and stuff ...
If you've only recently got your better-paying job, the bank may not consider it when you apply for a mortgage. And these days lots of people are afraid that their jobs aren't too secure.
You should talk to him and find out if he's worried that you can't genuinely afford a home, or if it's something else. But with all the people losing their homes in the last year, maybe he's just being cautious.
...............................
|
