We are going to buy a house.
- Thread starter H8R
- Start date
Congratulations on being buried in debt!
Awesome! Where?
Don't worry. Its only for 30 years.......
Congrats
ftfy.
A million hell no's. I dread even visiting there.
Monkeyfest '15 location?
It's actually a damn good time to buy here. (Santa Rosa, CA) This neighborhood is in the best school district, they are widening the highway coming up from SF, and they are restoring the railway that's been unused since the 80's for passenger train service to the area. Home prices will reach the fvcking moon in the next couple years.
Awesome. Buy now, sell it in a few years, make profit.
Or just live there and be happy with your family
Or just live there and be happy with your family
You shoudn't look at your primary residence as an investment. Historically, housing prices only moved with inflation, 2000-2007 being an exception. Home ownership is a way of making sure that your residence in retirement is paid in full. Secondary homes used as rental properties can be looked at as investments, but more so as an annuity; a steady stream of inflation adjusted income.
I am not sure how you define what an investment is but as I see it the decision process behind buying a first home is very similar to any other investment you would make. Its still part of your overall portfolio. As an example you could make a decision to rent you home and buy a vacation property its not black and white as you make it. Also depends on where you live. Making smart choices here in New York sure can make a huge difference in your life. House here has moved nothing like inflation either.
Looking at a home as a short-term investment is what I mean. If you are buying and expecting to sell at a profit in the near term, you are going to have a bad time. As for moving with inflation, that's a national average. SF, NYC, Chicago, and LA are exceptions. However for most of the country, that stands. You should not however look at a home as a liquid investment.
congrats H8R.
Hard to believe it's already coming up on 4 years I've been a homeowner. Best and worst decision of my life, all at once...but mostly best.
Congrats Jason.
Congrats Jason.
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I know the feeling. We bought our apartment. At the moment it looks like a very very good investment but not without its headaches.
Nice one. I bought a single family house in SF a little more than 2 years ago at what is looking more and more like the bottom of the market. Very happy with the decision and the place (after a lot of work). Not looking to sell anytime soon.
Congrats, man.
Sweet, a new place for a wok and two microwaves.
We're not. I was implying that we were gonna get priced out of this neighborhood if we didn't jump on this asap.
Average sales in this zip code have shot up $80k or more in the last year and they are still climbing. We're very thankful we patched our credit back together and socked the down payment money away, just in time.
Neither. We have two bamboo steamers though.
Good luck!
If you think buying one is awesome, wait til you sell one.
And then do both at the same time, with a whole pile of mortgages.
That was my summer.
And then do both at the same time, with a whole pile of mortgages.
That was my summer.
Originally we were going to stick with our credit union for the loan. The loan officer worked on it for ages, but the underwriters wouldn't do it. We were already in contract and sent the loan pre-approval letter to the seller's agent.
I have a lot of 1099 income and in the end they wouldn't consider what I've made this year.
So we've been scrambling from square one with a new mortgage broker. Actually three. Finally settled on one and they are jamming to get it done. Had to re-collect and re-send a month or two of docs in the space of two days.
Had a contractor friend who's been in the business 40 years inspect the place roof to ground. Said it had a better foundation than houses built decades later (it's from 1927).
Needs roof work (new bracing/framing and new shingling) but aside from that it's mostly cosmetic. Has enough attic space for about 800-1000 additional square feet.
Big enough driveway space for about a 24x30 garage too.
Psyched.
I have a lot of 1099 income and in the end they wouldn't consider what I've made this year.
So we've been scrambling from square one with a new mortgage broker. Actually three. Finally settled on one and they are jamming to get it done. Had to re-collect and re-send a month or two of docs in the space of two days.
Had a contractor friend who's been in the business 40 years inspect the place roof to ground. Said it had a better foundation than houses built decades later (it's from 1927).
Needs roof work (new bracing/framing and new shingling) but aside from that it's mostly cosmetic. Has enough attic space for about 800-1000 additional square feet.
Big enough driveway space for about a 24x30 garage too.
Psyched.
And it feels like I'm running through blackberry bushes with my laces tied together.
I only wish I had the means to buy a few vacation homes. I welcome those kind of headaches.
Hey the farmers fence off each crop with blackberry bushes. Whataya gunno do?