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Mortgage for TTC


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  #1  
May 28th, 2007, 10:26 AM
*Aspen*
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I didn't see the debate for this one, so I'll start it.

Do you think it's imperative to have a mortgage before TTC?

No.
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  #2  
May 28th, 2007, 10:32 AM
Ms.Michelle
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Quote:
Do you think it's imperative to have a mortgage before TTC?[/b]
I think people need to setup their family with many qualities in all fields. In the finanical field of setting up your family, I have always believed that it is necessary. Many people feel they couldn't afford it in their areas but to me, I would move then. If others choose not to, that's their decision. I feel it's needed for me before TTC.
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  #3  
May 28th, 2007, 10:36 AM
~Jess~'s Avatar Platinum Supermommy
Join Date: Oct 2005
Location: Central California
Posts: 16,959
For me, personally, it was a prerequisite for ttc. Not necessarily having a mortgage, but owning a home If someone can pay cash for their home, all the better.

However, I know that not everyone is in a position where homeownership is the best option for them. Military families, those who are supporting unwell parents and live in their parent's home for that reason, those who receive free housing as part of their employment (property managers), those who live in extremely expensive areas but don't want to move away from their family support system, etc.

As long as a couple is financially independent and can offer financial stability to their offspring, then they are financially ready, IMO, whether they own their home or not.
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  #4  
May 28th, 2007, 10:39 AM
*Aspen*
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OT, but Michelle, how come your flower isn't opening anymore?

Quote:
However, I know that not everyone is in a position where homeownership is the best option for them. Military families, those who are supporting unwell parents and live in their parent's home for that reason, those who receive free housing as part of their employment (property managers), those who live in extremely expensive areas but don't want to move away from their family support system, etc.

As long as a couple is financially independent and can offer financial stability to their offspring, then they are financially ready, IMO, whether they own their home or not.[/b]
I agree.
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  #5  
May 28th, 2007, 10:41 AM
~Jess~'s Avatar Platinum Supermommy
Join Date: Oct 2005
Location: Central California
Posts: 16,959
OT, her flower is opening on my screen. (???)
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  #6  
May 28th, 2007, 10:42 AM
jhmomofmany's Avatar Look! A Dancing Banana!
Join Date: Jan 2007
Location: Upper Michigan
Posts: 14,599
We only bought our first home in October. If we had listened to the financial experts and waited for the "right" time to TTC, none of our children would exist.
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~Jennifer, wife of one, mother of many

Robert: 20 Raechel: 18 Daniel: 15 Joseph: 13 Thomas: 10 Mary Mae: 7 Lucy Marie: 5 John Anthony: 2 AND Baby due Dec. 2015

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  #7  
May 28th, 2007, 11:05 AM
picklesmama's Avatar <;,><
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Posts: 22,604
Quote:
As long as a couple is financially independent and can offer financial stability to their offspring, then they are financially ready, IMO, whether they own their home or not.[/b]
Agree.
Renting or military housing is fine, living at home with your parents or in government assistance housing because you cannot afford rent or mortgage on your own is not.
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  #8  
May 28th, 2007, 12:52 PM
donomama
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Quote:
For me, personally, it was a prerequisite for ttc. Not necessarily having a mortgage, but owning a home If someone can pay cash for their home, all the better.

However, I know that not everyone is in a position where homeownership is the best option for them. Military families, those who are supporting unwell parents and live in their parent's home for that reason, those who receive free housing as part of their employment (property managers), those who live in extremely expensive areas but don't want to move away from their family support system, etc.

As long as a couple is financially independent and can offer financial stability to their offspring, then they are financially ready, IMO, whether they own their home or not.[/b]

Couldn't say it better myself, so I'll just
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  #9  
May 28th, 2007, 01:45 PM
Mega Super Mommy
Join Date: Sep 2006
Location: Lafayette, Indiana
Posts: 4,213
It was a necessary step for us before we began TTC but it just depends on each person's situation. It should not be a pre-requisite for TTC if the couple can provide a stable financial household for their chidlren.
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  #10  
May 28th, 2007, 07:52 PM
Tofu Bacon
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We only bought our first home in October. If we had listened to the financial experts and waited for the "right" time to TTC, none of our children would exist.[/b]
Ditto. To own a home in metro NY we would both need to be working 1 full-time and 1 part-time job apiece; that would leave pretty much no time to spend with our children. I hate NY and would move back to New England in a heartbeat, but dh and has sickly parents who need our help, and can't sell their home and move for at least a few more years, for various reasons. Moving would also entail dh leaving a job where he is fully-vested in retirement; he would have to give up most of his pension and start over from scratch elsewhere (its not like a 401K where you can take it with you and roll it over)...and also forfeit the free health benefits in our retirement years. Staying where he is and moving to the 'burbs makes no sense because it isn't much less expensive to live there, plus he'll have the time and expense of a long commute...which would also mean buying a second car so I wouldn't be stranded while he is at work; at least here I walk almost anywhere I need to go.
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  #11  
May 28th, 2007, 08:00 PM
Raela's Avatar Mega Super Mommy
Join Date: Sep 2006
Location: Minot AFB, ND
Posts: 1,565
Well, we're military and we live on base.. so there is no mortgage for us or utility payments. So no, for us it wasn't a requirement.
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