The best way to do that is probably by leaving some financial leverage left aside so you have something to fall on if things become difficult.Originally Posted by Vector Sigma 13
I think its about time to buy a house (going to look at one tommorrow).
Its pretty scary really but i feel it is the best decision for the family. Life has been pretty cushy until now and im a little nervous about tightening the belt.
My collecting's probably going to suffer unfortunately too- not taking this concept very well...
You don't want to put all your life savings on the initial mortgage pay or anything like that. You need a bit of money saved to fall back on in case something bad happens like one of you loosing their job. If you don't have a financial back up you risk loosing everything if you fall behind payments.
It's much easier if you have a dual income as you can support one another but it is very difficult or impossible to do it on a medium single wage income without sacrificing your way of life for many years (decades).
I am single and intend on remaining single for the rest of my life so to me getting a mortgage equals to a giant ball and chain. I am the type who believes in 'work to live' but a mortgage on a single income would make me into a 'live to work' kinda guy.
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