Pretty Good Savers!

In boxing up books before the mega renovation begins, I came upon my parents 1942 wedding photo album with this stashed in the front flap.

In 1947, with a three year old in tow and mom seven months pregnant with me, my parents took out a mortgage on their first home. $4500. In today’s dollars, depending on which conversion app you use, it’s $54-$59k.

I don’t know what the house cost on which this mortgage was placed to know if they mortgaged a lot of the house but what I do know is the house was new construction in 1947. I only lived in that house up to age 5 so my memories of its layout are limited. I remember my sister and I shared a bedroom but I don’t remember if upstairs had one family bathroom. Likely yes.

I have a fabulous 1948 photos of this house with mom holding me as an infant, my sister scowling that I was born, but those photos sit on a different computer that I used for the giant slideshow I created for my mom’s 100th birthday so I can’t post them here as a contrast to a photo from Google Maps today. The house had no landscaping then but there were other houses on the street, all young families.

I’m guessing it was a 2 bedroom one bath home. It had an attached garage where my mom kept her wringer washing machine. The bow window was in the living room. We had a piano in that room.

The side door seen above was out from the kitchen. There was a big basement where we had a television but I have very few recollections about the room other than that.

Anyway, it’s fun to see that mom and dad were able to pay off the mortgage in full and live on Easy Street, that is until their two daughters started shopping!!!

I wish I knew what interest rate they paid and what their monthly mortgage payment was. Or if $4500 seemed a huge sum of money to a young family.

My first house was $60k, a fixer upper before the term went HGTV. My grandparents gifted me half as a down payment and I mortgaged the rest. I know I have the payment book somewhere, yes I had a bank payment booklet, but my memory says my mortgage payment was about $100/month.

Today there’s hardly any household bill that comes in under $100/month. Certainly not the cable bill. Not the electric bill. For sure no mortgage payment is at $100.

Fun looking back tho. It’s times like this that I miss my mother the most, unable to ask her questions, but I am lucky that my grandparents and parents kept photos and documents for us to cherish and keep passing down the line.

2 thoughts on “Pretty Good Savers!

  1. So you’re from Buffalo? I too was born in ’47 and grew up in WNY, first in Lockport then on to Buffalo for college where I met my wife. We lived in Snyder before moving to Greenwich 40 yrs ago.

    1. Small world!!! Not Buffalo but Lewiston NY a suburb of Niagara Falls.
      I have good friends who still live in Buffalo. Buffalo born and stayed.

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