Okay....here is the scenario. Me, DH and baby (and two cats). We live in a small 2 bedroom - 1 bath house in Oklahoma (less than 800 square feet). When the baby came home the house got TINY - and fast. Granted we have too much stuff - but even so our house is little enough it is hard to have people over. I want to have people over - my family for Thanksgiving, an open house at Christmas - birthday parties and sleepovers for Sammi when she gets older. As it is now it would be impossible to have kids over. Here's my dilemma. Interest rates are low - building prices are going up - is now the best time for us to buy a house? My DH was out of work for almost a year so we have credit card debt, but we almost own our house outright. I think that we could sell our house and pay off the house and all our debt except our car and still have close to $20,000 for a down payment. I'm not looking at an outrageous house.....$150,000 tops. But at the same time we could have our house paid for and our debt gone or at least really close to gone in a couple of years. What would you do? In a couple of years the prices of houses are likely to increase AND interest rates are likely to be higher. I just need some insight from someone removed from the situation. I know my vision is clouded by the fact that I REALLY want a new house.
Thanks!
Amanda
Thanks!
Amanda