I just want to add a personal thought on buying a 1st house.
Alotta spiled little girls want nothing less than new granite kitchens and marble baths with solid gold fixtures. Of course, the guy obliges. McMansion, ho.
Well, that's nice but the problem is you pay top taxes on a newer place built to high spec. You also pay more transfect tax and interest on that stuff, forever and a day. Better to install whatever level of upgrades you want to an existing house. I do much out-of-pocket. No re-assessment or interest, or contractor labour since there is no rush, etc. Basicly, set the transaction price as low as possible. franlky, if we build somewhere, it will be an empty box w/toilet. Trim it out myself, on "the side".
My point being more that your 1st house should not be the one that is the nicest, most convenient, biggest, in a dream neighbourhood etc. It needs to be the ONE that you can make the MOST money off of then apply that to house #2.
