Friday, May 27, 2011

Moving Weekend

This weekend is kind of a big deal....we're moving into our house!!! By the time you read this, we'll (hopefully) be packing everything into boxes. And instead of that cute outfit, I'll be wearing scrubby shorts, T-shirts, and tennis shoes. Hopefully we'll take a break and sneak away for a Memorial Day BBQ. I'll pull out the cute clothes for that....if I can find them :)

While owning a house is huge and really exciting, I'm a little sad about leaving our neighborhood in the city. The lake is only a few blocks away and everything is within walking distance. Or an easy ride via public transportation. Plus, it will be a little harder to get together with friends. I guess it's all a part of growing up.

And nothing makes you feel more like an adult than a 30-year mortgage. Well, maybe having a family, but we can't speak for that one yet. Yes, we have the pleasure of making our first payment on June 1. In preparation for that momentous event, I checked out our loan amortization table and made a few additional calculations.

Our monthly payment is pretty reasonable, so I calculated how much we could save in the long run by paying $100 more towards principal each month. Through the magic of compound interest, we could potentially save $35,000 in interest and pay off our mortgage a little over 4 years early! Sweet! John and I decided to pass on cable for now and use that money towards larger loan payments. And if we ever need that extra $100/month, we can make the standard mortgage payment.

And since it is Memorial Day weekend, I'd like to say a big "thank you" to all who have served in the armed forces, especially those who have fallen in service to our country.

PS - More Friday's Fancies can be found here!

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  1. Good luck moving!!!! You have great weather for it!

  2. We owe our first loan payment on June 1 too - wahoo! That's the fun stuff, right? haha! We've also decided to pay a little extra... the equivalent of one extra payment per year. We couldn't believe how much money we would save doing that! Good luck with the move; I hope everything goes smoothly for you.

  3. Good Luck with the moving!! Know the feeling!! Have done it 4 times in the past 2 years! Love those Toms wedges!!

    Have a great memorial day weekend! ;)

  4. good luck with the move! love the outfit you picked out :) i hope you can enjoy some of the sunny weather this weekend too! xoxo jillian:: cornflake dreams

  5. Since we are right down the street, I know how sad you must be to leave this neighborhood! But how exciting to have a whole house and it's all yours :) Have a great weekend and be sure to relax a bit too!

  6. Hi ladies! Thanks for your comments! We survived the move, now it's a matter of unpacking...ugh.

    Vee - glad to hear that you're also paying more each month. Isn't it crazy how much you can save if you just pay a little more?

  7. Holy moly! I can't get over just how much money you'd save by throwing an extra $100 at your mortgage a month! WOW! I hope the move went well--and that it was painless! I think buying a house definitely has its tradeoffs, but I think they're all good ones :) and the good thing about Friday's Fancies is that you can dream without spending a dime, right? So happy to have you as a FF Faithful :) xoxo {av}


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