Buying a house and affording health insurance

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Forum -> Household Management -> Finances

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amother

Chocolate

Tue, Mar 28 2017, 4:41 pm

This question is for anyone who bought a house, especially all the young families that are buying houses in Lakewood, Monsey..., and were on health insurance from the state. What did you do about health insurance? Did you get kicked off? Are you paying yourself for health insurance? What are the options?

amother

Slateblue

Tue, Mar 28 2017, 4:47 pm

If you cannot afford health care or other basics, DONT BUY A HOUSE! That is a luxury and comes with tons of more expenses like repairs, water bills, taxes, maintenance etc.
don't buy a house and then have others pay for your health care. Which is what government health care is- asking the rest of the country to fund your luxuries.
Not everyone is meant to be a homeowner.

amother

Bronze

Tue, Mar 28 2017, 4:48 pm

You need to speak to the Community Council to help you figure out, according to your income, what or if you are eligible. The state doesn't care if you rent or own; they only care about how much your monthly payments are.

amother

Apricot

Tue, Mar 28 2017, 4:50 pm

amother wrote:

Depending on what and where, sometimes buying is cheaper in the long run and maybe even in the short run, but yeah, truth is you do need to afford it and please factor in everything before buying, which is a long term commitment! Gov health care is based on income though not assets as far as I understand it.

ectomorph

Tue, Mar 28 2017, 4:53 pm

I disagree. I think if you have a down payment, buy a house. No matter how small. No one can kick you out of a house.

amother

Amethyst

Tue, Mar 28 2017, 9:38 pm

Buying a house doesn't make you ineligible for NJFamily care.
Unless you have tenant income from a rental that you are claiming, you should not be affected.

groovy1224

Tue, Mar 28 2017, 10:32 pm

ectomorph wrote:

I disagree. I think if you have a down payment, buy a house. No matter how small. No one can kick you out of a house.

Except the bank..

amother

Lawngreen

Tue, Mar 28 2017, 11:17 pm

I am in the mortgage field. As long as you use the same income for the house and for insurance you are fine. U can buy a home but don't all of a sudden have lots of income to make the mortgage work.
When I bought my first house I had a cosigner. I showed very little income to buy the home. I had a tenant in it and the mortgage was way less than rent would have been for the part I lived in. I was fine because my income was the same across the board.

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