Hubby and I sat down and talked a bit about my house envy last night. At the outset, I told him that it wasn't something I wanted right this minute, but buying a home is on my radar. I know we are still years away from it, but it doesn't stop me from dreaming.
My friend is in the process of putting her condo up for sale, and buying a detached or semi-detached home. Her condo would be almost perfect for us. Not too big, not too small. The price is right. It has central air. Because of the location of it, my children would get bussed to school. We could afford the monthly costs of mortgage, insurance, condo fees, utilities and taxes. What we don't have is a down payment. Or much of one anyway.
Hubby mentioned he really would like our own backyard to sit in, and watch our Cub play, while we drank iced tea at our patio set. We sat and shared the dream for a few minutes. Then we talked reality, and numbers. We set a magic number.
Our magic number is $20,000. Eighteen of it would be a down payment, and the other $2000 would be for the things that will inevitably pop up. We're giving ourselves time. Seeing as his CSB's aren't earmarked for anything, and are serving as a sort of Emergency fund right now, this will become part of our down payment fund when the account earmarked for for emergencies hits $1000.
Only $19,000 to go, give or take $5 or $10.
As our debts get paid off, portions of payments will get rolled into the House Fund. Hopefully, we can own our own little piece of grass someday.