Well It looks like I will be accepting the banks counter offer this afternoon....so I will be making the foray into home ownership this fall.




Oh dear, what am I doing?

 

Buying a home is an adventure.


I am being bought out of mine and looking for a place once financing and divorce is done.

 

That sucks about the divorce... it has been an adventure... especially in a hot market like around here...


There are houses that don't even hit the market and they are sold....


The other problem I have is the postage stamp lots that people put these ginormous houses on...


I wanted acreage.... of which I will get .4 which is better than the .23 or less that 95% of the homes come on these days....


and garage space.... of which I will have an oversized 2 car attached...

 

You're doing yourself (your future self, esp.) a huge favor, that's what you're doing. Think of it this way, even when/where real estate is in the tank, after making those mortgage payments you still have _something_. With rent, your money just goes in a hole.

To the extent that you can afford, make advance payments on principal. You get that principal down, your regular payments go more and more toward principal and your total interest outlay over the life of the loan goes down fast. Esp. early on in the life of the loan. We paid off a 30-year mortgage in about 14 years that way.

Congrats, man.

Edit - shoot, .4 acres sounds nice. Lots on our residential street are about 6000 sq.ft. (so less than .2 acres). But the houses are mostly "small", by today's standard.

 

Congrats! Now you'll get to experience the "Joys of Home Ownership!"

How old is the house?

I've got 6.19 acres and its too small to suit me. I think acreage is like money. No matter how much you have, you'll always want more.

 

I just bought my first house back in June, 6 acres and 1200sqft. I love having something I can call my own and actually take pride in fixing instead of doing it for my dead beat exlandlord

 

That's plan on the mortgage... the other house I looked at had 2.8 acres but only a dirt floor pole barn, no garage....



Built in 84 I believe...no updates done though.... I think 6 would have been a bit much off the bat...my sweet spot was .5 to 2 acres initially...but in the city that's tough...

I am all about not sinking 1300 a month into rent.... it was one thing when it was $300 a month....but this is silly...and its going up next month another $600 a month...

 

Wow, GOOD timing....

 

Holy crap batman. $600 is a huge jump. Congrats on the new house. You can make it exactly how you want it and enjoy!

 

You are not kidding


The complex was sold to new landlords...they raised the base rent $300... and with going month to month they are charging a $300 premium... plus they want me to upgrade my kitchen with new counter tops and appliances and add another $100 month for that... bunch of BS if you ask me...

 

hmm I love rent, every month when the rent checks show up and go into my account.

I haven't paid rent for years, when I move i rent for 6 months to learn the new area and than buy a house fix it up and when I move I sell it for more than I paid for it and do it again.

 

2 words TAX DEDUCTION

 

rent hikes suck, a friend ending up moving since it went up 300 because it was under the average rent rate. fought rats, bad plumbing, electrical issues and landlord never fixed anything fast. Moved to new place that's bigger and the landlord fixes things right away.

 

Renting isn't that bad when house prices are really high because putting up a downpayment on a 500k house isn't easy. MA sucks for home prices. Hope you can find something reasonable

 

I know that...I was born and raised up there...My parents home value in Andover has doubled since they bought it.