Buying a home

[Huggie Smiles]

Re: Buying a home

2. Cosmetic issues are easy to fix -- structural issues should seriously concern you.

Whole heartedly agree with that

[picklemonkey]

Re: Buying a home

thats peanuts compared to property tax in Chicagoland!!!!!!!!!!!!!!!!!!!!!!!!!!!!

why didn't you try to contact me while i was out there. didn't know you were in chicago

[Jenks]

Re: Buying a home

Take the hint pickle. jeez.

[jbmurphy]

Re: Buying a home

Take your check book to the closing. There always seems to be aonter fee to pay.

[Huggie Smiles]

Re: Buying a home

why didn't you try to contact me while i was out there. didn't know you were in chicago

I've seen the pics of what you tried to do to MJ whilst you were mullered.

[hobbes2oo]

Re: Buying a home

At first I was sweating having to pay a 500-600 per month mortgage but you folks in california and chicago are making me breathe easier now

[toasty]

Re: Buying a home

I am planning on buying new, hopefully.

Option 1 is to live in the town I work in, but the property tax is high (1.5 - 2k per year) and the population is around 10-15k.

Option 2 is live in another town 20 miles from work, property tax is low (900 - 1.5k per year) and the population is 2.5k.

I'd go option 1. Living 20 miles from work adds at least an hour to your work day every day. Plus, your property tax is tax deductible, so it's less of a difference in the big picture.

That's really a matter of what's important to you, though. If you tend to change jobs a lot, moving somewhere primarily to be close to work isn't a great call. If not, though, that drive adds up in terms of time, gas, mileage, etc.

[CND]

Re: Buying a home

Live in the house for a bit prior to doing major upgrades. You will get a much better feel for what you want to do.

Congradulations! I have a 90 year old house that I have been upgrading for some time.

[Steve Graham]

Re: Buying a home

Live in the house for a bit prior to doing major upgrades. You will get a much better feel for what you want to do.

Congradulations! I have a 90 year old house that I have been upgrading for some time.

Agreed here, but also, do not take on a house with a bunch of stuff that needs to be done to make it liveable. it may seem easy at the time of buying because you are on that rush of owning a house. My gf and I almost did the same thing a few times, and are really glad we waited. Though there are a few things we want to do, it is nothing that cant wait until we can afford it or do it our selves.
We just had our one year anniversary as home owners, and it feels great! yeah the mortgage is way higher than our rent was, but it is the best investment you can make, and we can refi next year and get the rate and pmt lower... enjoy the process, it should be a fun exciting time, if something, any thing doesnt feel right, DONT DO IT..

There are always other houses out there as some one else already mentioned. A house is not the time to have buyers remorse, lol


good luck keep us posted!

[gjg21]

Re: Buying a home

I'd go option 1. Living 20 miles from work adds at least an hour to your work day every day. Plus, your property tax is tax deductible, so it's less of a difference in the big picture.

That's really a matter of what's important to you, though. If you tend to change jobs a lot, moving somewhere primarily to be close to work isn't a great call. If not, though, that drive adds up in terms of time, gas, mileage, etc.

toasty beat me to it. any savings you get in the lower taxes of the further house are negated by the true costs of having to drive that far every day. if you can, consider a small house in a walkable neighborhood over a bigger house that's 5-10 miles from anything. it amazes me how much people are willing to spend on driving as a result of seeking a cheaper house.

[fisheye]

Re: Buying a home

Whoo... I am about to join the ranks of a home owner. Do any of you home owners have any tips for a first time buyer? Anyone have advice on this major purchase that they can give me?

a)Make sure the MRS likes it or she'll never let it down and you'll have to put up with it forever.

b) Don't be stingy and cut corners. Make sure you get a building/pest report of the prospective house. You don't want to move in and find you're cohabiting the premises with 4 million termites.

c) Do not get a loan where you can redraw funds from your repayments. Get a loan where whatever you repay, stays repaid.

All the above I say from bitter personal experience.

[cyrus32]

Re: Buying a home

jeez ur worried about 1.5k to 2k property tax? here in california u see 5k to 8k property tax just for a mediocre home. i wish i had that kind of property tax. and if ur worried about it impound ur property tax in to ur mortgage payments. so it will be like 130 to 170 bucks extra on ur mortgage payments.