[audio-pals] Re: Nose Back to The Grind
- From: Thomas McMahan <shadowmonstrosity@xxxxxxx>
- To: audio-pals@xxxxxxxxxxxxx
- Date: Mon, 23 Mar 2015 10:09:22 -0500
Better a smaller house that needs less fixing up, than a big spacious one that
you will have to start fixing up on immediately especially when looking at a
budget on one income.
Now two different strategies come into play here.
You can go for this one house with the idea of eventually getting ahead on the
loan then selling short, or completing loan early and selling, thus at least
getting your money back as leverage against another house that is more of what
you want.
Option 2, keep renting for a year or two and keep saving back money when you
both are on your feet, then striking for what you want. There are advantages
each way around actually.
The 3rd is the fixer upper option, more of what you want in a place but, can
some of the jobs be waited upon until you have money to cover them. The
problem with owning a house is that there’s always something braking, and well,
guess who has to fix it? Or pay for the fixing, and the heating cooling guy
charges as soon as he walks into the door, they have a nice little racket going
actually *lol*.
One other comment to consider, throughout history, most first houses aren’t
what people actually want as their dream house, unless their dream house is
simple and affordable from the start which usually isn’t the case.
This one you are talking about is 300 square feet less than my house here, but
it definitely has more land around it because mine is on a city lot, but mine
is two stories also, so if that one is a ranch it is going to fill up that lot
some. Also does it have any other buildings on the land for storage such as
sheds or garage? If not, then there’s something to be built while you live
there and then up the value of the place on the market when you want to sell.
It won’t be much more room, but it will be your room and your house payment in
the long run can come back to you verses filling a landlord’s pocket.
I like the practicality of can we afford it and our bulls on just your income,
that is smart budgeting because when Amanda is working then that’s money to the
good that can be banked against times when she’s not working.
Lots of angles to consider here actually.
> On Mar 22, 2015, at 8:34 PM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>
> Well, unfortunately, but in a way fortunately the time has come for me to
> return to school. Unfortunately because I have sure enjoyed the break and
> being able to razz everyone on here, even the ones that have not commented on
> here, but are still members *cough, cough* Don. Hopefully Don will get back
> to cutting up with us on here one day in the near future. However,
> fortunately because in 24 days I will be done with this semester. That
> reminds me, I need to email the disability office to see what accommodations
> are going to be made in order for me to walk across the stage without any
> problems in the process. We are still perusing houses for sale, but
> reconsidering whether to look for something cheaper given the shocker that
> came on Friday. Tonight we drove by a house that is 3 bedrooms and 2 baths,
> 1185 sq. ft. This drastically cuts down the square footage we are looking
> for, but the house price is one that I could afford with my income alone. It
> sits on 4 tenths of an acre of land too so idea for our situation. We also
> heard from our lender tonight and once she gets back in the office tomorrow
> she is going to look into another program that they just got in through I
> believe Freddie Mack. Another benefit is it is 3 streets over from where my
> Dad and Mom live. I think Amanda is still a little hesitant on saying yes
> because of the sacrifices we would be making and the fact it is only 85
> square foot more than what we are living in now. We will see what happens as
> this week progresses and Amanda and I have more time to discuss the house
> issues without homework interfering. Yes, unfortunately I had to start back
> on homework this evening. I probably should have started back on it last
> night or yesterday, but I could not bring myself to do it *LOL*. Talk to you
> all later.
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