In my mind, Buying a house made the PERFECT sense.
So, I started to do the math, and slowly started dropping hints to Megan that we would be better off financially for the rest of our lives if we got our foot in the property door and bought a house. I kept dropping these hints and nudges over a few months.
Turns out, Logic had nothing to do with it, it was an emotional decision for Megan. (and buying a house IS emotional. I found it critical to manage both mine, and Megan's emotions, as you'll find out later)
We were Completely deflated. It was so awesome. I had showed it to my parents already, and they thought it was great too, and were willing to help however they could. It was the benchmark that we compared every house afterwards to.
Back to the numbers.
Wait, what?!? a BANK would trust us with 350,000.00 bucks!?!
The Bottom line was, Rent is money that is GONE. You cannot get it back. If you can afford to buy a house, You should. Eventually, you'll build up equity. There is added cost to owning a house, but the long term gain is there. The sooner you get in the door, the sooner you'll start building equity.
Granted your first payment is almost 99% "rent" money to the wind... but eventually, that 99% becomes 80%... becaomes 50%, becoomes 25... and then almost all of your mortgage payment goes to your own net worth instead of your banks pockets(or land lord if you rent)
Next post... The First Steps/Wall: Money.