conversation: User (snsflawless): "I have enough saved to put 20&amp;#37; down payment. Is this a good move? Should I continue to rent?\n\nThank you friends in advance for your help!"
  Self: "You're absolutely not daft for falling in a love with a better / pricier than average house. The more important question is whether or not the purchase is wise for someone in your circumstances with your income and expenses.You didn't outline enough of your budget for me to give you targeted advice.\n\nAre you saving 15&amp;#37; or more for retirement? If you aren't, is that just a choice you've made, or can you not afford to save that much?\n\nBetween mortgage, taxes, and insurance, I guestimate that the house you want to buy will cost you $2,500 or more (on average) a month. How does that compare to your current rent? Utilities aren't included in my estimate. Do you live some place where utilities on the house will cost you a lot more in either summer or winter (or both) than the place you are currently renting? If so, remember to factor that in.\n\nDo you see yourself staying in the house for 10+ years? If you're in love with it, hopefully that means you'll live there for decades. That would be a positive sign. If you would only want to live there for 5 or 10 years before moving elsewhere or trading up for something bigger, that would be a warning sign.\n\nLastly, would it cost more than $50k to upgrade the $270k house to match what you like about the $320k house?\n\nMy general advice is to buy the least expensive house you think you could be content with. Be willing to put some money and some manual labor into improvements along the way. Even a pristine house will need repairs and maintenance at some point. If you buy too expensive of a house, there's really no way to undue to the damage to your finances. If you buy something cheaper, you can always save up money and do some upgrades over time."
  wikiwiki123 (wikiwiki123): "$2500? My home is 310k in a fairly high tax area and I pay 1600 a month."
  wild_muppen_appeared (wild_muppen_appeared): "15 year mortgage maybe?"
  