Changing home or apartment

Discussion in Mortgage & House Payments started by Gelsemium • Sep 8, 2014.

  1. Gelsemium

    GelsemiumWell-Known Member

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    I am considering changing my place, it's becoming too small for the four of us, but while I have a spread of 0,6, the current spreads are now around 4 to 5%, 8 times more approximately, what makes it almost impossible for me to access credit. Is this happening where you live as well? How did money get so expensive?
     
  2. JessMere

    JessMereNew Member

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    It sounds like I am in the same boat as you, and honestly I don’t know nearly as much about switching from an apartment to a home as you do. The most I understand is that I would have to have much better credit before I could get a home loan. I did rent a home from a landlord before, but owning one is a much bigger step. I believe that money got expensive due to inflation. Simply looking at the cost of gas from twenty years ago shows how much more everything costs. It seems to me to borrow money for a home loan is going to take a lot of money. These days if you want something bad enough you’re going to pay whatever they want for it.
     
  3. Gelsemium

    GelsemiumWell-Known Member

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    I am buying a flat for the last 16 years, but now I need a larger flat and I am not going to start renting. My bank seems to have a good program that is called switch home that allows me to keep a lower spread and interest rate so now I think I will be able to switch place, something I need to mature big time though.
     
  4. wvboarder

    wvboarderMember

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    I was completely just complaining about the same thing around here. And yes, in Maryland it's the same way. I moved in with some friends who have a kid and now it's the four of us in their townhouse and it's a bit cramped. I wish I could figure out this financial stuff. Sometimes it literally gives me heartburn worrying about it all. School does not properly prepare you to deal with these kind of real world problems like they should. Hope you get everything sorted out!
     
  5. LuckyGirl08

    LuckyGirl08Active Member

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    Thankfully I am not going through this yet. I am sure when my husband and I decide to move then we are going to go through some trouble. Both of us are still young and do not have any type of credit. We have always paid cash for everything that we own so we never had any type of bills that would help our credit.
     
  6. Gelsemium

    GelsemiumWell-Known Member

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    My situation is still on hold, we were on vacation and we had time to think about it, some motivators also due to incidents with the neighbors, but now we are just too busy to think about it. Besides, we love the location, all our lives are well organized there, so the motivation to move is not that big.
     
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