Jessica 0 #1 January 24, 2003 I'm starting to feel too fucking old to live in an apartment. My upstairs neighbor leers at me all the time and screams at his girlfriend, I have to take my laundry across the parking lot to wash it, and I'm tired of losing deposits because the birds chew up all the windowsills. On the other hand, I'm going to have apartment maintnence come change my light bulbs today because I don't have a screwdriver to take down the fixtures. Hehe!Skydiving is for cool people only Quote Share this post Link to post Share on other sites
blewaway5 0 #2 January 24, 2003 I always think of a house as a big giant anchor holding me to one place. I know that's not ectirely true, just the way I look at it. Truman Sparks for President Quote Share this post Link to post Share on other sites
judyindeskys 0 #3 January 24, 2003 It almost always makes more sense to buy instead of rent. I've been selling real estate for 8 years. Let me know if you have questions! judyindeskys Quote Share this post Link to post Share on other sites
skybytch 259 #4 January 24, 2003 I can't do the apartment thing ever again... I've gotten so spoiled living on a fenced half acre that I'm not even sure I could live in a house in a typical neighborhood anymore. Privacy is a wonderful thing! Renting is cool though - something broke? Hey Mr. Landlord, come fix it! Quote Share this post Link to post Share on other sites
CrazyIvan 0 #5 January 24, 2003 There is nothing like having your own stuff, house including, I'm saving money myself to get me a nice ranch or a small house. I rent, and I know about the problems you're having, except that no one leers at me. __________________________________________ Blue Skies and May the Force be with you. Quote Share this post Link to post Share on other sites
Zenister 0 #6 January 24, 2003 i'm looking at land/housing in and around Kapowsin right now..i'm just ready to have at least on place to keep the stuff that i know i want..i dont really see it as an anchor, more of a port when i wish to hide from the storms..____________________________________ Those who fail to learn from the past are simply Doomed. Quote Share this post Link to post Share on other sites
PhillyKev 0 #7 January 24, 2003 Buy vs. Rent http://www.ginniemae.gov/ypth/rent_vs_buy/Rent_vs_buy.htm Quote Share this post Link to post Share on other sites
Zinger 0 #8 January 24, 2003 Right now!..The worlds population is growing and growing, They don't make land any more, Where are all these people going to live/work?? Real estate is the most secure investment you can have as long as you don't buy something with legal problems.Do your research well and chances are you'll do great. ------Have a good one!-------- Quote Share this post Link to post Share on other sites
mujie96 0 #9 January 24, 2003 I bought my first placw with husband #1 when I was 18. I now own a condo in Hawaii (yeah not a house but until I get my drug empire off the ground...) where the mortgage and maintenance fees work out to slightly less than most of the people here pay their landlords. I like no throwing $500 or $1000 or $1500 (depending on where you live) into someone else's mortgage payment every month. As for tied down...I'm moving in less than 3 weeks and since I don't want to play landlord, I'm paying my real estate agent 10% of the monthly rent for property management. Go see a real estate agent, see if you can find a skydiving one or get one of the several on here to refer you to someone. It can't hurt to check it out. Just keep swimming...just keep swimming.... Quote Share this post Link to post Share on other sites
airtwardo 6 #10 January 24, 2003 Buy! Once you do you will wonder why you stayed in in the beehive so long. Take your time- find something in your range, in good shape and that makes you feel at home. You won't be sorry. If nothing else you are paying yourself instead of some landlord...a long term saving plan if you will. No reason to feel tied down either, if you want to move somewhere else...turn it into a rental. In most cases you can borrow against it if you need to, and with the help of a rental agent, you don't need to be there to change someone else's light bulbs. Then the rentor is paying into your 'savings plan'. I see by your profile you're from Texas...If you're in the Houston area I can put you on to some real estate / skydivers I know. Good luck. ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
Lizard 0 #11 January 24, 2003 I bought my house after living in a camper for 2 yrs and to be honest, I miss that life, but at the same time I'm not "tied down". You can always sell. I don't know the going rate on apartments, but why pay rent when you can own? It's a good investment and will appreciate in value. If I were in your place right now, I would go for a house and stop making other people rich. Quote Share this post Link to post Share on other sites
billvon 2,435 #12 January 24, 2003 >When is it time to buy a house? When you are going to be in the same place for at least a year, and when you can barely afford it. (Your pay will go up; mortgage payments stay the same.) Generally getting the worst house in a good neighborhood is way better than getting the best house in a bad neighborhood. My sister bought a little 2br 1ba house (smaller than some of my apartments) in a good neighborhood in NY, and bought a house three times the size within 5 years. She made quite a bit of money on the first house. Quote Share this post Link to post Share on other sites
lowpullin1 0 #13 January 24, 2003 BUY!!!! Quit throwing away your money. just think of how much you have spent on rent! "It's hard to fly with the eagles when you are surrounded by turkeys." My Website Quote Share this post Link to post Share on other sites
PhillyKev 0 #14 January 24, 2003 Buying is not always the best option. Then you're throwing money away on interest, insurance, and property taxes. You have to work the numbers. If you can find a relatively cheap apartment, it could very well be better to stay there. And those numbers change depend on how long you plan to live there. Ever see an amortization chart? For the first third of a mortgage your monthly payments are almost entirely interest. If you move out before you start reducing the principal and earning equity, well, you might as well have been paying rent because that money is flushed down the toilet. Especially if the real estate market declines. It's been booming for a while, it's due for a bust. Especially if deflation continues to escalate. Quote Share this post Link to post Share on other sites
Thanatos340 1 #15 January 25, 2003 All that money you are "Throwing Away" on Interest is Tax deductible. If you are making over 30k per year this will make a big difference in your Taxes. Plus if you are renting, you are throwing away 100% of your monthly payment. Look at it this way, If you renting you are gaurenteed to be throwing away your money. If you buy, there is atleast a chance you will get some of it back (Actually a Very GOOD Chance). Buying costs about the same as renting on a monthly basis with alot more benefits. I agree with your assessment that the real estate market is due for an adjustment but it will have little to no effect on Entry Level Homes (In fact these homes should still increase in value as people in the really expensive homes start getting for-closed on and demand increases for lower priced homes) If you plan on staying in the same area for more than 2 years, Buy a house. You will be much better off. Quote Share this post Link to post Share on other sites
FallinWoman 1 #16 January 25, 2003 Quote mortgage payments stay the same My mortgage payments go up every year because they include taxes and insurance. The actual money I am paying on the mortgage is the same, but the check I write goes up every year. Most people don't realize this before they buy a house. They also don't realize that the mortgage calculators that you can find on the internet usually do not take into consideration things like taxes and insurance. So if the calculator spits out a nice low number, don't get too excited until you talk to an actual loan officer who can give you a more realistic feel for what you would be paying. That being said, BUY. I love owning my own little house. I love walking around and caressing the doorknobs and the hinges (cuz I think that is all that I actually own at this point) I can do what ever I want, paint the walls, change the light fixtures, redo the bathroom, install new showerheads, install a new programmable thermostat, WHATEVER I WANT!!! It is so much fun! (Especially when Skymedic is the one doing all of the work ) ~Anne I'm a Doll!!!! Quote Share this post Link to post Share on other sites
rgoper 0 #17 January 25, 2003 "The world is your oyster" take it, don't wait for anybody to give it to you, it's yours already! you go, my sister.--Richard-- "We Will Not Be Shaken By Thugs, And Terroist" Quote Share this post Link to post Share on other sites
misskriss 0 #18 January 25, 2003 I agree..buy, buy, buy... instead of throwing away rent...owning is an investment. Quote Share this post Link to post Share on other sites
Snowwhite 0 #19 January 25, 2003 Bought my first house at age 19 with my skeptical husband. Slapped a coat of paint on that puppy for 450 bucks and sold it for a 10 grand profit. Bought our second house at 20, added a deck, and sold it for a 20 grand profit. 30 grand in two years. But we bought the right houses in the right neighborhoods. Yes, buy! Worst house, best neighborhood. Didn't make quite as much profit on the next two real estate investments, but got our marriage off to a great start. Oh yeh, and it doesn't hurt that I am kinda handy, and can do things like add decks, and ceiling fans. Hubby isn't quite so skeptical anymore.skydiveTaylorville.org [email protected] Quote Share this post Link to post Share on other sites
SpeedRacer 1 #20 January 25, 2003 Yeah, Jessica! BUY!! I'm jealous of these people who bought houses at 18 or19. un-fucking-believable, I don't know how they did it. I bought my house in late March 2002, and it is cool as shit to own your own place. so what if you have to fix things yourself, big f&*kin deal. A small portion of my monthly payment goes towards equity, and all the rest is tax deductible.But it goes far beyond the financial: Knowing you own where you live, and that YOU are the boss of it f&*king rocks. Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites
airtwardo 6 #21 January 25, 2003 ...and it gives you a place to put the flaming giraffe' oops sorry wrong forum! ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
Jessica 0 #22 January 25, 2003 OK, I'm convinced. I'm going to start saving some $$ for a down payment. I've always wanted purple bedroom walls.Skydiving is for cool people only Quote Share this post Link to post Share on other sites
PLFKING 3 #23 January 25, 2003 All the above info is well and good, but the very first thing you need to do is....finally make up your mind where you're going to live. And the parrots will be happier if they each have their own bedroom. Don Quote Share this post Link to post Share on other sites
Michele 1 #24 January 25, 2003 Hey, Jess.. Since this is what I do for a living, I'm gonna say "buy". But maybe not right now. You're ready to buy when you're ready to commit to about 4 years in the same place, or, should things change, it's a desireable enough property to rent out. You're ready to buy when you begin to understand the value of your own place, and willing to handle the expense of it. You're ready to buy when you can find a mortgage that actually deals with your budget, and doesn't make you "house" poor. You're ready to buy when YOU are ready to buy....I can't answer that. What I can do is suggest several things so SEE if you're ready to buy. 1. You talk to a mortgage broker and have them figure the entire monthly mortgage, including taxes, insurance, and a little extra for those broken things. 2. You pay that to yourself for 4 months...meaning, if your rent is $500, but your mortgage payment would be something like $900, you PAY your rent and then set aside the additional $400 and not access it whatsoever, and then pay your other monthly expenses - car, lights, food, jumping, etc....and see if you can live that way, normally, and comfortably. If not, find where you can cut your expenses, and see how that works. If you can live with that final mortgage bill, then you may be ready to buy. Finding out ahead of time that you can handle the bills will do two things: it will lessen the financial fear of the house, and you will not get in over your head just because you can qualify for it. 3. You may want to try #2, and in the same period, fix everything which breaks. Or have Erk fix it. But try to not rely on the landlord while you're experimenting. When you're ready, remember what Anne said about taxes and insurance (in CA the taxes are fixed, and based on the property purchase price, but I don't know what it is where you are). Also remember what Bill said - location is everything, and to buy the smallest, most humble house on a great street in a good neighborhood - with good schools, stable community, etc...you know the ones around you - will allow the maximun return on your investment. Even if you're not thrilled with it, this is not the home you're gonna live in for the rest of your life, and so resale becomes even more important...and there will always be another "you" in five years getting ready to start that adventure we call real estate. And remember. When YOU are ready is when you buy. Not when the realtor is ready, not when your family thinks you are, but when you are. And trying out the above suggestions will determine if you are ready. And then, buy during the slower times of the year - October to February is the slow time. Sellers are more anxious to sell, and the other buyers are waiting for summer to move their families (kids out of school, ect.). And let me know how else I can help - I can find a great realtor in your area if you want, and I'll follow up with them to make sure you're being taken care of. Ciels- Michele ~Do Angels keep the dreams we seek While our hearts lie bleeding?~ Quote Share this post Link to post Share on other sites
samp76 0 #25 January 25, 2003 Make sure you have a garage!! They are great when you have bad weather.Let go of the NUT!! Quote Share this post Link to post Share on other sites
