Saturday, December 13, 2008

Decorations and the Economy - Saturday 12/13/2008

The skiing bear makes another appearance, but we are slowly replacing regular lights with LEDs.

Yeah, yeah. It's a manufactured home, as we like to call it.

In just two days, we'll have lived here for eight years. And you know what? When they offered to loan us half again what this house cost, we said no. We wanted to be in a position where either one of us could cover the payment on this house and land if the other should not be able to work.

We could have taken more money and struggled. We could have opted for some kooky balloon payment scheme. But we're not gamblers. I really don't understand how people can have deluded themselves into home loans for houses they just couldn't afford.

So what do you think?

In another 10 years, when we send in the last payment, should we put up a sign that says: "Don't laugh. It's paid for." ?


joan said...

Ab-so-loot-ly! Put up the sign! Good work, kid. k

fingerstothebone said...

I'm with you! We bought a house that we could afford on one income (back when we had two), and paid it off in 15 years. It seems like a simple idea, I don't understand why so many people get sucked into things they can't afford.

Kim said...

When I bought my house, my loan officer told me how much I could afford. His idea of what I could afford was much higher than my idea.

Nothing wrong with a manufactured home!

Sundry said...

K - We'll have to have a "Don't Laugh" party!

Fingers- Glad to hear that. It must feel terrific. We financed for 30 years and then refi'ed for 15 when we had the chance. Felt like we won the lottery. I guess some people thought they would buy, sit a few years and flip for a profit. Tragic, but foreseeable.

Kim - Thanks...we love our house and where it is. Perfect amount of yard and access to hiking. I'm so glad to hear you bought smart too. Know how excited you are about your house!

Los Angelista said...

Hey, it may be pre-fab/manufactured or whatever, but it's super cute, it's YOURS and you aren't getting it swept out from under you because of some sort of get rich quick ideology.

I'd make a sign now that says, "It'll be paid for in 10 years! How ya like me now?" :)

Sundry said...

L.A. - This is a very good idea! I love my little hideaway.

McBean said...
This comment has been removed by the author.
McBean said...

Cute place, we'll have to come visit sometime. We were fortunate to purchase a home at a great price recently. We took advantage of someone elses bad decision. And I don't feel bad about it one bit.

ps. I love those storm clouds in the distance! Bring on the snow!
We're snowed in right now btw.

Sundry said...

McBean - Yes, you should come visit. We could go to one of the valley hoots and you could stay over. We're about 45 minutes from a couple of them. Or we could have our own little hoot lite.

We've been snowed in for a couple of days, too! Just dug out our driveway because Hydra wants to get in to work tomorrow...last day of '08 for him.