House purchasing

[George C]

Lets hear it from some of the ppl on this site.

what age was you
what price range did you get into
how much debt did you have before the house
how long is your morgage for
do you regret
did you take extra out to help do add ons
what you paying out per month now with all house bills



im kicking idea around, i might want ot buy a house for my next bday and want a good feel from ppl

[sutyak]

Lets hear it from some of the ppl on this site.

what age was you 24
what price range did you get into ?-70k
how much debt did you have before the house: 30k including student loans, cars.
how long is your morgage for: 30 yr
do you regret: doing a 30 yr mortgage. Do 15 year and save yourself a TON of $$.
did you take extra out to help do add ons: Yes, here and there.
what you paying out per month now with all house bills: Just house payment $430/mo. Necessary utilities (gas,electric,garbage,phone): $300ish



My suggestions:
Have at least 10% down, preferrably 20% or more, not including closing costs which were $2k for myself on a $70k home.
If you don't have that 10% up front, suck it up and wait!
Do NOT go with a 30 yr loan. You will get absolutely reamed in interest costs!!!
Find an online mortgage calculator and do some math. You'll be amazed how little more per month a 15 yr is than a 30 yr.
Only do a FIXED interest rate loan unless you plan on moving within a couple years before it balloons.
Buy a house that needs a bit of cleaning up here and there.
SELL a great looking house. BUY a cruddy looking one.

Good luck!

[Troll]

what age was you 27
what price range did you get into 110,000
how much debt did you have before the house 1 car payment
how long is your morgage for 30 years
do you regret no
did you take extra out to help do add ons not yet
what you paying out per month now with all house bills 800 +

[lib88stang]

what age was you- 26
what price range did you get into- $70,000
how much debt did you have before the house- 1 car payment
how long is your morgage for -30 years
do you regret -not yet
did you take extra out to help do add ons- no
what you paying out per month now with all house bills- about $1,000

[Troll]

Do NOT go with a 30 yr loan. You will get absolutely reamed in interest costs!!!

:goodidea: Great advice, Mark. Yeah, don't let people tell you how much money you'll get back in taxes, either. So frickin' what??? You still pay the damn interest, you just don't get federally taxed on that portion of your income. So you pay out 6K in interest per year so Uncle Sam can give you an extra 1K back in March??? It's baloney.

[coralcoupe1993]

what age was you 25
what price range did you get into 145,000
how much debt did you have before the house School Loans
how long is your morgage for 30
do you regret Nothing, the value is climbing big time!!!!
did you take extra out to help do add ons 6% sellers assist
what you paying out per month now with all house bills 1,200+ (Danielle pay Utilites)

I put zero down.
My suggestions: No variable rate mortgages.


Lets hear it from some of the ppl on this site.

what age was you
what price range did you get into
how much debt did you have before the house
how long is your morgage for
do you regret
did you take extra out to help do add ons
what you paying out per month now with all house bills



im kicking idea around, i might want ot buy a house for my next bday and want a good feel from ppl

[blkp42e]

what age was you

24

what price range did you get into

$115,000

how much debt did you have before the house

$8,000 including car

how long is your morgage for

30 years

do you regret

hard to regret doing something that just becomes worth more as time goes on

did you take extra out to help do add ons

nope

what you paying out per month now with all house bills

different question for different people... Depends on types of utilities,(mostly gas/electric) mortgage rates, taxes, etc.

[Mater]

Kids>house >cars! no regret at all!

[INSANELY CRAZY]

what age was you- 25
what price range did you get into- $60,000
how much debt did you have before the house- credit cards,1 car payment
how long is your morgage for -30 years
do you regret -nah
did you take extra out to help do add ons- no
what you paying out per month now with all house bills- about $1,200 (not including taxes)

i put 5k down at closing....

**it dont matter if you get a fixed payment,if your mortgage people sell your loan to another company it can be adjusted up or down if thats the way there company runs**

[5k#Eaton]

what age was you 23
what price range did you get into 166,000
how much debt did you have before the house 1 car payment
how long is your morgage for 30 years
do you regret no
did you take extra out to help do add ons nope war brand new
what you paying out per month now with all house bills 1500+

[coralcoupe1993]

If you want, drop me an e-mail. I have friends in the industry. Also, the house next door may go up for sale....wow that would be bad......I have a neighbor with a Z06, the guy accros the street builds bikes....

Noting like test and tune up the road all day long! :blkstang:

[coralcoupe1993]

Kids>house >cars! no regret at all!

Damn, I did that one backwards

Cars>House>........

[burntire]

A home is a good investment.
You will be able to write off your mortgage interest and taxes.
It will go up in value.
Buy what you can afford.

[venom]

what age was you 29
what price range did you get into 90,000
how much debt did you have before the house 1 car payment
how long is your morgage for 30 years
do you regret no
did you take extra out to help do add ons not yet
what you paying out per month now with all house bills 900

[Mater]

Damn, I did that one backwards

Cars>House>........

do u have kids?

[Stangman701]

I'm also tired of renting. How long do you think you'd have to own a house to make it worthwhile over renting? My main concern is that I don't know how long I'm going to be in Pittsburgh so I don't know if I want to commit to a house just yet.

[blkp42e]

id say owning a house from day 1 is better than renting. the house you are building equity and making it worth more. Anything you do to a house you are doing for YOURSELF.

even if you do leave, with the right things done to the house in a short time, it could still be worth more than what you have into it. things such as painting, carpet, etc.

alot of places rent is higher than my mortgage on a $115,000 house.

[WizardsCobra]

I'm glad to see this thread and it also hurts. I'm thinking of selling my Cobra to buy a house. I have the car paid off so it would make a decent down payment.

[blkp42e]

before you go selling the car, talk to a lender about what the price diffence per month would be without your downpayment. may end up just being the price of a car payment and you could keep both

[87notch]

id say owning a house from day 1 is better than renting. the house you are building equity and making it worth more. Anything you do to a house you are doing for YOURSELF.

even if you do leave, with the right things done to the house in a short time, it could still be worth more than what you have into it. things such as painting, carpet, etc.

alot of places rent is higher than my mortgage on a $115,000 house.

:iagree:

[PHFIRENO7783]

I was 22 when I bought my house, im 24 now. My house was listed for $103K. I went to look at it on July 4 2005, I really liked it but waited a bit to put a bid in. By the time I put a bid in the house was down to $95K. The guy didnt even respond to my first bid, so I left the house alone for two months. I put a second bid in about the middle of August and by the last week of august the owner excepted the offer of $86,900. Thats a bid difference what what the house first started out at. We didnt close till Sept. 9 2005. My morgage payments are $571.10 a month, only because I put $30K down on the house. it's in my name and my name only. Not to bad for a 24 year old landscaper.

[burntire]

What ever you do don't get into a stupid mortgage. Like an adjustable or interest only. Your better off with a fixed rate.

[Viper_ed]

im kicking idea around, i might want ot buy a house for my next bday and want a good feel from ppl

Just make sure you buy one with French Doors so your head can fit in and out of the house when you're watching re-runs of Pinks! :twothumbsup:

[Rodeheaver's]

19 years old
80,000 $
5,000$ car parts
30years
no
no
1000$
renting is like spiting in the wind...my0.02$

[somethingclever]

Just make sure you buy one with French Doors so your head can fit in and out of the house when you're watching re-runs of Pinks! :twothumbsup:

LOL...now THAT was good. :laughing: :laughing:

[lib88stang]

Just make sure you buy one with French Doors so your head can fit in and out of the house when you're watching re-runs of Pinks! :twothumbsup:

and cathedral ceilings:pinkthumb:

[fx-man]

My suggestions:
Do NOT go with a 30 yr loan. You will get absolutely reamed in interest costs!!!
Good luck!
Actually if the rates are similar you should consider going for the 30yr note but making the bigger payments as if it was a 15yr note. That way you will still pay it off in 15 if you make the bigger payments but if you need xtra cash you can drop back to the 30yr payment. Of course this method does take some discipline.

[sutyak]

Actually if the rates are similar you should consider going for the 30yr note but making the bigger payments as if it was a 15yr note. That way you will still pay it off in 15 if you make the bigger payments but if you need xtra cash you can drop back to the 30yr payment. Of course this method does take some discipline.
Yes, I think most people enter a 30 yr loan with that mindset, but very very few pay additional on it.
I don't disagree, it's just that a 15 yr is a "forced" discipline. :)