|
Users viewing this topic:
none
|
|
Login  | |
|
RE: I want a house, but.. - 7/21/2010 12:43:02 PM
|
|
|
christsstar
Posts: 2216
Joined: 4/8/2005
Status: offline
|
quote:
ORIGINAL: Random
quote:
ORIGINAL: christsstar
We're waiting for the hot water heater to die!
There's your problem -- you're heating hot water. That's pretty inefficient! We just have a regular water heater, and it works fine... 
Indeed, that would be our problem. But since we rent, it's the landlord's problem and not ours.
_____________________________
|
|
|
|
|
RE: I want a house, but.. - 7/21/2010 1:39:24 PM
|
|
|
GroupW
Posts: 2958
Joined: 11/16/2007
From: Up in the hills of Colorado (very BIG hills...)
Status: offline
|
quote:
ORIGINAL: APZR
I believe the unsaved are perpetually trapped at the opera house featuring The Nutcracker. Either that or in a theater with Hana Montana on 24/7.
You have a cruel and evil mind to devise something so hellish.
_____________________________
“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
|
|
|
|
|
RE: I want a house, but.. - 7/31/2010 10:18:19 AM
|
|
|
autocad
Posts: 834
Joined: 8/13/2005
Status: offline
|
It really depends on the price.
Here in Florida, the prices are so low.....(I feel like a used car salesman!!!)
2 examples....One friend bought a 'forclosure' (with her dad actually buying it). Sold 3 years ago, for about $250,000. A nice 3 bed, 2 bath, 2 car garage.
Total price including new carpet, and all back taxes, under $90,000. That's ft Myers, Florida.
And another house, same area, a 2 bed, 1 bath on 2 acres (older home, but with many upgrades,new bathroom, wood floors, just VERY nice), sold for about $92,000. The price a few years ago, was again, around $250,000.
So, if you can 'buy right' price wise, and have some cushion, for new carpeting, might br a good time to buy.
Ps, right before the second house was sold, a large bees nest was found in the wall. Counrty living!
|
|
|
|
|
RE: I want a house, but.. - 8/4/2010 4:37:56 PM
|
|
|
jaimestarcross
Posts: 1227
Joined: 11/28/2005
Status: online
|
quote:
ORIGINAL: ColoradoLady38
I am afraid it wouldn't be conducive given the state of the economy. I know the market is down for now, but when/if it comes back up, will it come back to kick me in the teeth? I do work full time as a CNA, and also have VA benefits that I could also use to get a house. Back in 2002 I bought a house with my then husband, since our divorce in 2007 I have signed a quit claim deed, and he refinanced the house in his name only. So my name is clear of that responsibility. What is your take on how the state of our country is going, and a first time (again) home buyer. Do you think it's a good idea for my 3 children and I?
*ColoradoLady38:
Everything costs... even renting. The more upkeep required by the property
the chances increase that the rent will go up. Even renting an apartment or townhouse
there's maintenance fees/HOA etc. to pay on top of the monthly rent.
I still liking owning a home.
Educate yourself about the subject.
Count the costs. Looking around the area you live in and find a house you could afford and the square footage
required for you and your children. Then look at rental properties with the same amount of space... check out the maintenance fees and see how often they increase. Look over the properties to see if they are being maintained -- also ask to see maintenance records etc.
Decide how close you need to be to your job -- then find houses or rental properties in that area.
How are your finances? money saved up for mortgage down payment? moving expenses, rent etc.?
Streams of income-- other than money from your CNA job what other funds do you get on a regular basis?
Home ownership isn't limited to owning only houses... you can also consider purchasing a mobile. That's how I got my start in life. I also worked as a CNA and in the later part of 90's a well-to-do client offered me a job and gave me five thousand dollars sign on when I accepted her job offer. (Around this time my first marriage ended and I was working and paying all the bills.)
I paid off the mobile after my ex was gone and then I paid off my car... I was caring for my mom also. My job offered me flexible hours and great pay so I could take mom to the doctor or run errands for her. My boss was really good to me and my mom and we lived well thanks to the lady boss's generosity. I ended up debt-free! Later in 2002 I got married, moved to Canada and taught my husband how to get out of his major debt and now we have one car payment(just got a brand new car) and no mortgage-- not bad for a couple who haven't been married 8 years yet!
_____________________________
shoutlife.com/UBfine
"A world of nice people, content in their own niceness, looking no further, turned away from God, would be just as desperately in need of salvation as a miserable world---and might be even more difficult to save."
C.S. Lewis
|
|
|
|
|
RE: I want a house, but.. - 8/5/2010 7:27:51 PM
|
|
|
SurfFirst
Posts: 116
Joined: 7/30/2010
Status: offline
|
Have you met with a realtor? Mine told me to the penny what my house payment would be - and it was exactly what it is. A good realtor is your friend when you are considering a home purchase. Let them know what you are looking for, what you need in a home, what your take-home pay is, and what your concerns are. They can give you a lot of information you may not have considered.
If you are considering an older home, you need to take into consideration what kind of expenses you are looking at in the future, near and far. If you think you can't afford a newer home, a realtor may be able to help you out with that.
Do you need a garage? Where I live, admittedly I could have purchased a home without an attached garage for considerably less, but I wanted the convenience of an attached garage for my family's needs. A carport and apartment-like living situation wasn't worth purchasing. IMO
Do you want a yard for your children to play in? Do you have pets? Do you want to have pets that would require a yard?
Do you want to garden? I know several people who garden and don't need to purchase most of their produce. I even had a friend who lived outside of town and kept chickens for eggs!
Do you want a larger place to live? More space for your children to play?
There are a lot of considerations. Of course, finances and whether you can afford it are extremely important, but I think more people can afford a house of their own.
And if you plan to continue living in your city until you retire, that's another consideration. If you continue renting, you will probably need to continue working more years than you might want to. If you purchase a home, and are able to, you can pay it off sooner. Even just a few years sooner may be well worth it for those years when grandchildren (gasp!) come along. Nothing like being there while they are growing up.
Just more food for thought for those considering a home purchase.
|
|
|
|
|
RE: I want a house, but.. - 8/8/2010 12:59:01 AM
|
|
|
ColoradoLady38
Posts: 374
Joined: 8/11/2008
From: Somewhere near Pikes Peak
Status: offline
|
Okay, take 2 on trying to reply on this. I kept getting a run time error and it wouldn't save my message. lol. So that being said, even though I would love a house, it isn't for the best right now. Though you guys have given me some great food for thought. Thank you all. S
_____________________________
God loves me even though....
|
|
|
|
|
RE: I want a house, but.. - 8/9/2010 1:17:12 PM
|
|
|
wifeandmomof3
Posts: 111
Joined: 7/27/2010
Status: offline
|
When we bought our home seven years ago, we used our VA loan. This was great for us because you don't have to put a specific down payment, since it's guaranteed, and you don't end up with any mortgage insurance which you would normally have if you don't put 20 percent down. This means you don't have to sock all of your savings into a down payment, but can hold onto it in case of emergency or repairs.
Another advantage of a VA loan is that the VA requires the seller to get a home inspection and offer a 10 year warranty. This is really important because then you know for certain that there isn't any major problem with the home at time of purchase, and you wont be out-of-pocket for any major problem that occurs within the first ten years. I don't think water heaters or any other appliances are covered by the warranty, but the big stuff is, like foundation, roof, HVAC systems, etc.
You earned the benefit of the VA loan. Take advantage of it. You can use it through any lender. Make sure you find a reputable lender or bank to work with so you get good terms. Ours was 30 years fixed at 5.7 percent, but that was seven years ago. I think rates are lower now.
|
|
|
|
|
RE: I want a house, but.. - 8/9/2010 1:20:45 PM
|
|
|
wifeandmomof3
Posts: 111
Joined: 7/27/2010
Status: offline
|
Also, look at it as a long-term investment. Houses generally increase in value significantly over the long term. You can't think short-term here. No one can say whether values will increase or decrease over the next 2-5 years, but over the long term (15 years +) houses have gone up dramatically in value in almost every area.
Now, when prices are low, is a good time to buy. They call it a "buyers market" because you as the buyer have the advantage of being able to negotiate better.
|
|
|
|
|
RE: I want a house, but.. - 8/9/2010 9:25:23 PM
|
|
|
relady
Posts: 630
Joined: 4/11/2005
From: Greater St. Louis Metro
Status: offline
|
quote:
VA requires the seller to get a home inspection and offer a 10 year warranty. No they don't. If you got the seller to provide that, good for you!! But it is not required by VA as far as I know. In fact, our VA rider to our contract doesn't require that the seller do either of these things. Is this a new requirement?
quote:
Houses generally increase in value significantly over the long term It does seem that way; however, over a period of years -- say 30 -- you will probably average about 2% appreciation per year. But that's only a general average. Some neighborhoods will never appreciate above a given level, no matter how long you own the home. That being said, a home is an asset and owning it is generally a good thing.
|
|
|
|
|
RE: I want a house, but.. - 8/9/2010 10:05:24 PM
|
|
|
homebild
Posts: 19
Joined: 6/18/2010
Status: offline
|
Even though existing home prices have fallen, the requirements to get a mortgage have become more difficult than ever.
In my region 20% down is now the rule and even professionals with good incomes are finding that amount difficult to come up with.
Debt-to-income-ratios are killing everyone.
Most folks' net worth have fallen along with their existing home values and investment portfolios. So even if you have the 20% down, it still makes for a bleak financial picture for most buyers even if they have excellent credit.
Banks have nowhere to package and sell their loans so the bottom line for the first time homebuyer is:
Unless you can pay cash for the house, expect not to get a mortgage.
We have signed contracts with buyers who wish to build...and none can get financed.
Its a good time to rent as cheaply as you can and simply save your money.
Even if you own a house, it will cost you more to maintain it than renting will...even with the tax breaks that can come with home ownership.
And home proces are still on the downward spiral in many places.
Not the time to think about buying for most people and renting should be considered as the more practical and financially sound option for most.
|
|
|
|
|
RE: I want a house, but.. - 8/10/2010 10:38:03 AM
|
|
|
wifeandmomof3
Posts: 111
Joined: 7/27/2010
Status: offline
|
I just checked the VA website, and the 10 year warrantee is indeed only for new construction. Sorry about that. Our home was new when we bought it, so the VA required a 10 year warrantee and an inspection.
Here is a link to FAQ's on VA loans:
http://www.benefits.va.gov/homeloans/lgyfaq.asp
|
|
|
|
|
RE: I want a house, but.. - 8/10/2010 10:56:13 AM
|
|
|
peace77
Posts: 519
Joined: 4/18/2005
Status: offline
|
quote:
Even if you own a house, it will cost you more to maintain it than renting will...even with the tax breaks that can come with home ownership.
Of course it costs more to maintain a house than a rental. Maintaining a rental is the Landlord's responsibility and should be FREE for the renter.
When you rent you pay forever.
When you buy, you will eventually own the house and property. Paying for maintenance, taxes, and insurance on a paid off property is normally much less than paying for rental on a rental place.
_____________________________
I GoodSearch for Lance's Deaf Orphans.
Raise money for your favorite charity or school just by searching the Internet or shopping online with GoodSearch - www.goodsearch.com
|
|
|
|
|
RE: I want a house, but.. - 8/11/2010 12:15:19 AM
|
|
|
relady
Posts: 630
Joined: 4/11/2005
From: Greater St. Louis Metro
Status: offline
|
quote:
I just checked the VA website, and the 10 year warrantee is indeed only for new construction. Sorry about that. Our home was new when we bought it, so the VA required a 10 year warrantee and an inspection. Ahhhh. Yeah, the rules are a little bit different with new construction. I hope you are enjoying your new home!!
|
|
|
|
|
RE: I want a house, but.. - 8/11/2010 12:18:04 AM
|
|
|
relady
Posts: 630
Joined: 4/11/2005
From: Greater St. Louis Metro
Status: offline
|
quote:
Maintaining a rental is the Landlord's responsibility and should be FREE for the renter. But it isn't. Those costs are factored into the rent which is one reason most rents go up every year. So...if you're going to end up paying it anyway, even if it's indirectly, why not own your own home and be able to do what you want instead of having to live with the landlords decoration tastes? I would much rather own my own place. It's not just a strictly financial decision, as I'm sure we all know.
quote:
When you rent you pay forever.
When you buy, you will eventually own the house and property. Paying for maintenance, taxes, and insurance on a paid off property is normally much less than paying for rental on a rental place. VERY good points!!
|
|
|
|
|
RE: I want a house, but.. - 8/11/2010 11:43:33 AM
|
|
|
christsstar
Posts: 2216
Joined: 4/8/2005
Status: offline
|
quote:
ORIGINAL: relady
quote:
Maintaining a rental is the Landlord's responsibility and should be FREE for the renter. But it isn't. Those costs are factored into the rent which is one reason most rents go up every year. So...if you're going to end up paying it anyway, even if it's indirectly, why not own your own home and be able to do what you want instead of having to live with the landlords decoration tastes? I would much rather own my own place. It's not just a strictly financial decision, as I'm sure we all know.
quote:
When you rent you pay forever.
When you buy, you will eventually own the house and property. Paying for maintenance, taxes, and insurance on a paid off property is normally much less than paying for rental on a rental place. VERY good points!!
Yep. And it varies depending on what type of facility you rent. If you rent an apartment, it's a massive management company. Maintenance is hard to come by and rent goes up based on the market around. Renting a house from a person, but managed by a company, maintenance is REALLY expensive, but the house may be maintained better. Rent from a person without a management company and you are lucky to get anything more than the legally required stuff done. And our rent hasn't gone up yet. We pray that it stays where it's at when our lease is up in 2 years.
DH and I are super lucky with our current landlord. She's gone above and beyond what she needs to do for this house that she inherited. The house next door to us is also a rental and the owner (who lives around the corner and owns several houses in the neighborhood) neglects a lot of basic non-required things. The fence is falling down, the screen door is off it's hinges, the roof is old. I don't know how he's getting away with the mold that my neighbors complain of.
_____________________________
|
|
|
|
|
RE: I want a house, but.. - 8/19/2010 5:15:23 PM
|
|
|
mj2008
Posts: 108
Joined: 4/16/2010
Status: offline
|
I think it depends where you live and the reason why you want to buy a home. My husband and I bought our 3 bedroom townhouse in this declining market and it was the best decision. We purchase a place where we could have children and stay for a very long time and maybe retire. I like the idea of not having to move often and having roots. In addition, we could not rent for the amount of money we are paying in mortgage. We live in South Florida and rent is not cheap.
_____________________________
I love Jesus!!!
|
|
|
|
 New Messages |
 No New Messages |
 Hot Topic w/ New Messages |
 Hot Topic w/o New Messages |
 Locked w/ New Messages |
 Locked w/o New Messages |
|
 Post New Thread
Reply to Message
Post New Poll
Submit Vote
Delete My Own Post
Delete My Own Thread
Rate Posts |
|
|
Forum Tools
Printable Version
Christine 
Good thing though... I can walk in and take control of the remote to a course of Aww Dad! Flip it to Dirty Jobs and it's Yeah, we love this show! 
