Quote:
Originally Posted by Billy10mm
I don't know where you're closing for $1500, but here in NY, closing costs on a house or condo with a purchase price around $400K are north of $20K when all said and done. It seriously prohibits refinancing around here.
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I was thinking the same. I just refinanced our home and use a small/local mortgage company. The closing cost / title company / county fees etc total about $8000.
To answer the OP:
I agree on the marriage and prenup stuff and potentially waiting.
Something I havent seen mentioned is the market itself. It's at a peak here in Portland. My mortgage broker thinks we will see a crash in 2 years or so and I was thinking the same before we ever talked about it.
Now isn't a good time to buy here. Home values have skyrocketed (ours has gone up 50% in 4 years.)
What I'm getting at is that I think it would be a great time to sell assuming you have good equity in the home. Then when home values tank again look to buy another home.
That is part of what we plan to do and part of the reason we refinanced. If the market crashes we'll buy another home and rent out our current home. Then when the market recovers and home prices reach their peak again we'll consider selling the rental.