Here's to NOT being House Poor!!

So we were talking to our realtor the other day about the price range of the houses we've been looking in. We worked it out so the price range we've been looking in is equivalent to what we're paying a month in rent right now. She told us to talk to our mortgage lender to find out how much more a month 50K would work out to be. She did a quick calculation based on the average loan rates and it worked out to be 75 bucks more a month. So for 150 bucks extra a month we could be looking in a 100K higher price bracket. I was surprised the numbers worked out like that! Of course that's not factoring in taxes or insurance or the jump in the down payment at that higher level ... but my advise to you is talk to your mortgage lender and work out how much a month different price levels would be. Maybe 50K is the difference between a fixer-upper and your dream home and it's only 75 bucks more a month!!

The most important thing is to figure out what you're comfortable with because you certainly do not want to be house poor. People love to say ... OOhh you don't want to be house poor and have to eat ramen noodles for dinner every night. But being house poor is much more then that. Yes there's no more going out to eat or movie dates or vacations, but what if you move in and a month later your fridge breaks or the roof starts to leak?! It's a good idea to make sure you have some wiggle room for things like that. It's true that no one expects the Spanish Inquisition, but with the proper planning they can expect Murphy and his law! 

With that being said I leave you with this awesome song called 'My Fridgerator Broke'. Do we have any Hell Cats fans out there?? Yes, that cheesy cheer leading show that was on the WB for one season. Anyway the sisters on the show (fun fact: they are also sisters in real life) sing this awesomely hilarious song about their fridge breaking. Check it out below ... I even included the lyrics so you can sing along! Enjoy! = )

Got tuna fish in my pocket,
butter up my sleeves,
eggs tucked in my dungaree’s,
socks are full of cheese.

You might call me crazy,
but this is not a joke,
my fridgerator, fridgerator, fridgerator broke.
my fridgerator, fridgerator, fridgerator broke.

Why should I throw my food away?
Why should it go to waste?
That would not be clever,
not be in good taste.

I’ll stand out in the cold all night,
it’s tough but I’ve adjusted,
my fridgerator, fridgerator, fridgerator busted.
my fridgerator, fridgerator, fridgerator busted.

my fridgerator busted,
but I won’t sing the blues,
carrots are my curlers,
potatoes are my shoes.

Bacon in my cowboy boots,
in my hat’s the beer,
pickles tucked behind my ears,

a roast strapped to my rear.

May I raise my armpit,
and offer you a coke,
my fridgerator, fridgerator, fridgerator broke.
my fridgerator, fridgerator, fridgerator broke.