Yeah, we found that the banks were willing to give us a lot more mortgage than we realistically thought we could make payments on.
That said, my father's longstanding advice has been, it's usually a better idea in the long term to stretch a bit at first to get a house you'll stay in, than to buy a "starter" house and sell it and get something else less than ten years later. His thinking is that the buying-and-selling costs enough that it's just not worthwhile.
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branchandroot
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Date: 2008-04-24 11:53 pm (UTC)That said, my father's longstanding advice has been, it's usually a better idea in the long term to stretch a bit at first to get a house you'll stay in, than to buy a "starter" house and sell it and get something else less than ten years later. His thinking is that the buying-and-selling costs enough that it's just not worthwhile.