The Lord's Lovingkindnesses Indeed Never Cease

Opinions Wanted

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11:19, Friday, July 11, 2008 .. Posted by LivingSimple

Decisions, Decisions, Decisions...we too are in the decision making process...its not easy...I would say go with Debt free, but that because I like owing no one..however I do think you need to consider your goals for your family and then weigh the pros of cons of each situation...Debt free may be nice but not always pratical at this stage in your life...I look forward to seeing your decision and how you arrived at it...

Blessings
~Kris

Choices

12:05, Friday, July 11, 2008 .. Posted by browns71280

Well, if it were for me, I like the debt free idea, but I would look at the lay of both lands. Which has better accomodations for what you want for your family. What would it cost to have things built if you went debt free compared to already done? Your children are still small enough not to be too picky about sharing space, so that is not an issue. Look at what the difference is between the mortgage plus interest compared to debt free and building as you go.
Hopefully this will help you and I too, will be eager to see what you have chosen.
Debbie

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12:33, Friday, July 11, 2008 .. Posted by gabbie427

It depends on what your views of financial debts go. It also depends on how secure you or hubby or both jobs are. I would sit down with hubby and figure out the budget and where all the money would go, such as house payment, taxes, insurance, utlitlities, etc. per month. You wouldn't want to get into the house and then find out it was going to cost you $500 to heat the house, when you only have $200 per month budgeted.

We are making a housepayment right now, but we are also in the midst of refinancing it so we can make the same amount of payments but pay it off early. Since interest rates are so low right now, I would consider buying the house, and making larger payments to pay it off sooner if possible.

God's Blessings,
Amy Jo

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01:00, Friday, July 11, 2008 .. Posted by Cindeerella

A mortgage of $65,000 sounds very small! We live in California and have a California-sized mortgage.
Could you get a 15 year instead of a 30 year mortgage?
Do you have a stable income?
Remember a trailer does not always appreciate in value and usually depreciates.
What is the value of the one acre paid off compared to the value of the house and 5 acres?
What about their locations?
Think for the future, which property will increase in value?
These are some things to consider.

Untitled Comment

09:16, Saturday, July 12, 2008 .. Posted by morningsunshine

think about the kids - they are under 5 right now, but it will not be long before one room will be too small (and I a not against room sharing - we have a 6 bed home, but our children will be sharing rooms for a long time to come.) How soon will you be able to afford to add on/build a new home.
$65K does not sound like much for 5 acres with an orchard, etc. You could SAVE a lot of money by having an already established orchard, garden, pond, etc.