One year ago today I posted some reader thoughts on my suggestion that people should buy a house they could afford (and what that meant.) I also noted that people can save a ton of money by moving to a city where the cost-of-living isn't as high -- a topic that I've dealt with several times since then. For details, check out Buy a House You Can Afford.
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I also recommend that people consider taking a 15 year loan vs. a 30 year loan. I am on my 3rd house and finally have a 15 year loan, I wish I would have done it on at least my second house but I was too conservative. The great part about it's like a forced savings program. Each month a big percentage of your monthly payment goes to the principle.
Posted by: Bob | October 24, 2006 at 09:27 PM