Just bought a house.
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Elder User
Joined: Jul 2003
Posts: 649
Likes: 1
From: north carolina
Just bought a house.
Well friends i did it. I'm in debt for the next 30 years lol. the house has 800 sqft with a 400 sqft 2 car garage 
. all on a 1/4 acre lot. paying 54000 for it 
. it has a huge peacan tree, a grapre vine, pear tree and some other fruit trees that have not beared fruit yet. it has 4 pines on the lot that are atleast 3-4 foot in diameter at the base. sorry for not being on here to participate in the forums for the past couple of weeks, but buying and repairing (mainly minor) a house takes alot out a person.
. all on a 1/4 acre lot. paying 54000 for it . it has a huge peacan tree, a grapre vine, pear tree and some other fruit trees that have not beared fruit yet. it has 4 pines on the lot that are atleast 3-4 foot in diameter at the base. sorry for not being on here to participate in the forums for the past couple of weeks, but buying and repairing (mainly minor) a house takes alot out a person.
Fleet Mechanic
Joined: Oct 2003
Posts: 1,619
Likes: 12
From: Forest Hill MD
Houses are just about as bad as trucks. You will never be done improving it. LOL Congratulations on the purchase, it sound like a good deal. That house would still be 150k + around where I am building. townhomes with no garage or land are 200k +.
FTE Legend
Joined: Sep 2003
Posts: 53,996
Likes: 2,399
From: NY and VA
Good luck with the house, watch out for the pines if near the house or garage. They have a tendancy to break and fall when you don't expect. Hope the high winds didn't do any damage. Remodling is always fun. Good luck, George
Post Fiend
Joined: Apr 2004
Posts: 19,098
Likes: 8
From: Great State of Texas
Congratulations 
and condolences 
. It is truely a love/hate relationship in it's purest form.
Sometimes you will love to hate it and other times you will hate to love it. But, you will always be proud of it.
and condolences . It is truely a love/hate relationship in it's purest form. Sometimes you will love to hate it and other times you will hate to love it. But, you will always be proud of it.
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Elder User
Joined: Jun 2004
Posts: 513
Likes: 0
From: Zimmerman, MN
Congrats on the new digs. We just bought a home ourselves. Went from a 900sq ft townhome to a 2300sq ft place with a 3 car garage. Keeps a person busy. We've got a pine tree out by the garage with about a 5ft diameter at chest height. Very big pine.
Good luck and enjoy.
Good luck and enjoy.
Senior User
Joined: Jul 2005
Posts: 303
Likes: 0
Congratulations on your new home FrankenbroncoII! Sounds like you have a good house to garage space ratio (800 vs 400). Where are you going to spending all your time anyway!
That's something that so many people don't take into consideration. Before we were married, my wife and I each rented a small house. Our combined rent, plus two sets of utilities, cost more each month than the mortgage (plus current utilities) that we took out to buy an older farm with a HUGE amount of acreage. The house is taking a lot of updating but considering what we paid for the whole package, and current land values, we basically paid nothing for the house.
That payment is worth every penny!
Not to mention no neighbors... quiet... walking the dogs in your underwear...
Originally Posted by polarbear
...Don't consider it debt necessarily- you write a check every month for a place to live anyway. Might as well get some return on it.
That payment is worth every penny!
Not to mention no neighbors... quiet... walking the dogs in your underwear...
i ain't rite
Joined: Mar 2005
Posts: 65,511
Likes: 5,567
From: Marlboro Mental Hospital.
yup, congrats. now keep an eye on the interest rates. if they go down in a few years, think seriously about refinancing. and when you refinance, pay close attention to the cost between a 30 year, and a 15 year. i paid $60,000 for my place 10 years ago, with $15,000 down, so i financed $45,000.
my monthly payment on a 15 year mortgage was only $45 more than a 30 year, so i took the 15 year note.
i did some quick figuring after signing, and realized that with a 15 year note i will be paying a total of $74,000, or $29k in interest. but with a 30 year note, paying $45 less per month, i would be paying a total of almost $142,000, or $97k in interest!!!!
and for what its worth, last week a Realtor was canvasing the neighborhood looking for properties to sell. she offered me $275,000 to buy outrite from me, not to list. they know they can sell it for more with it being 100 yards from the beach. the only drawback to this plan, as i said to her, was "and where do you expect me to go for $275k??? i will need AT LEAST $600k to replace everything like i want it." she had no answer to that one, just shook her head, and walked away.
my monthly payment on a 15 year mortgage was only $45 more than a 30 year, so i took the 15 year note.
i did some quick figuring after signing, and realized that with a 15 year note i will be paying a total of $74,000, or $29k in interest. but with a 30 year note, paying $45 less per month, i would be paying a total of almost $142,000, or $97k in interest!!!!
and for what its worth, last week a Realtor was canvasing the neighborhood looking for properties to sell. she offered me $275,000 to buy outrite from me, not to list. they know they can sell it for more with it being 100 yards from the beach. the only drawback to this plan, as i said to her, was "and where do you expect me to go for $275k??? i will need AT LEAST $600k to replace everything like i want it." she had no answer to that one, just shook her head, and walked away.
Last edited by tjc transport; Jan 17, 2006 at 12:15 PM.
