Perhaps my wording was poor.
Yes, I see it the same way. (hence my comment about envelope method
budgeting)
Regards,
Adrien
On 3/29/22 10:43 PM, john wrote:
I think you're conflating two separate things. Saving up for a down payment is
not buying a house. There's no property value to
I think you're conflating two separate things. Saving up for a down payment is
not buying a house. There's no property value to account for. Heck, there's not
even a property yet: You don't even start looking until you've saved enough for
the down payment.
The house purchase is easy: Suppose
Tough one.
The property value doesn't increase because you didn't borrow the full
price and paid cash up front for a portion of it.
The liability doesn't change because that's after (net) the down-payment.
I'd hazard either an asset or equity account for something like 'savings
goals'
I would imagine the down payment would go into an asset account. I.e., transfer
from Assets:Savings into Assets: HouseValue? A down payment doesn't go into the
liability. It is still your asset...
On March 29, 2022 7:05:07 PM EDT, davidcousen...@gmail.com wrote:
>Karin
>It is not an expense but
Karin
It is not an expense but a liability. When you open the Budget you can expand
the liability accounts and enter budget amounts against the liability account
for the loan/mortgage at the period the payments are due. If necessary you can
change the budget interval to suit.
A reduction in the
Hi!
I am trying to figure out how to put my mortgage downpayment into my
budget. It is not exactly an expense, but I do need to have income enough
each month to cover that in addition to expenses. I've tried googling to
see how to do this, but the parts of the manual I manage to find (and other
