[audio-pals] Re: Nose Back to The Grind

  • From: "Josh" <lawdog911@xxxxxxxxxxx>
  • To: <audio-pals@xxxxxxxxxxxxx>
  • Date: Mon, 23 Mar 2015 15:20:03 -0400

It sounds like a good idea. According to the property tax records for last year 
taxes ran about $91 a month. 

 

From: audio-pals-bounce@xxxxxxxxxxxxx [mailto:audio-pals-bounce@xxxxxxxxxxxxx] 
On Behalf Of Thomas McMahan
Sent: Monday, March 23, 2015 2:29 PM
To: audio-pals@xxxxxxxxxxxxx
Subject: [audio-pals] Re: Nose Back to The Grind

 

Yep you will want to look hard at any work that might have to be done on it as 
I mentioned before and if you have a few years to do such work such as roof 
etc.  

 

If it’s bottom end of pricing in housing market, many people wo do have the 
money will pass it by.  It will be a house for first timers, and those who 
don’t necessarily have much income or don’t know for certain if their credit 
will carry it through.  Our house sat for at least a year.  Two sells fell 
through because the buyers credit wasn’t good enough, but we bought in more of 
a seller’s market back in 2002.  But we also bought with the consideration, 
“could we live with it? Could we happily live in it?  Could we buy it, then 
leverage it against a better place in future?”  TO all three questions were 
yes.  It’s not a ranch, but for two people there’s room to live on one floor 
easily.  Dinning room simply becomes a bedroom.  People living here previously 
did that, it’s probably been a bedroom more than a dinning room through it’s 
time here.  One owner used it as bedroom and boarded out rooms upstairs for 
parts of the year, so it’s been a family house, a boarding house, a rental, and 
now it’s Adventure Land.  Depending on how efficient the floor plan is, you 
might be pleasantly surprised.  Of course don’t know if that includes such 
things as enclosed porches etc like our’s does.  But even a wooden porch can be 
built up around and become an enclosed porch thus adding value to a home.  
Little things can add without it being to expensive.   

 

Oh also don’t forget to see what the amperage is on the electric.  There are 
still a few houses around that are only 60 A.  That is what our service was, 
that causes problems with insurance companies.  The breaker box was 100 A, so 
they had done that, but we had to do the outside service, but again that keeps 
the house competitive.  City codes where you live though may have all at 100 A 
or more now.  You don’t want an unpleasant surprise should the power company 
come to inspect for another problem and they just up and determine, “not safe” 
and off goes your power.  I don’t know how tight your power utility is about 
all of that though.  Our’s is here.  They don’t care much about what you do on 
your side of the breaker box, well actually about your side of the outside 
disconnect, but they can definitely be stipilers about their side of it *lol*.  

My sister-in-law had opposite problem, her’s was 100 A, but was fuses, so she 
installed breaker box.  Think she did most of that her self though, same with 
creating a laundry room on her first floor, guess she got tired of her washer 
and dryer getting flooded when the basement would flood.  But again those 
little things add up should she want to sell.  That’s at least the incentive to 
own.  Also don’t forget, the lower the house value, the less the property 
taxes, so that should be easier on the budget too.  Then once you guys get 
rolling along with income, then plow some back for a time, then start looking 
again.  

 

Or just stay where you are for a couple of years and plow money back tat way 
too, that isn’t necessarily the worst option.  At least that way you don’t have 
an existing mortgage sitting on you, and you are already there, so not a budget 
shock.  

On Mar 23, 2015, at 12:52 PM, Josh <lawdog911@xxxxxxxxxxx> wrote:

 

This is true. Maybe I should talk Amanda into going to look at it. I had 
mentione the being able to afford it on one income in the past and she has not 
really given it any thought. Then Friday night before I found out about the big 
news she got she had said at dinner that maybe we should consider the one 
income thing. It made me think to myself being that the job was so new, I guess 
you could call it insight, but I did not say anything then since Little Man did 
not need to know at that point in time. We discussed it and how the best way to 
tell Little Man was and then he learned about it the next morning. I like the 
idea of taking it and using it till we can get something better and that would 
get us out of the apartment living. It isn’t the idea path we wanted to take, 
but if I always took the idea path I would still be working in law enforcement. 
So, I will discuss this with her and see what she has to say about it. Being 
that we have not looked at it, it may be out of the question already, but we 
will not know until we go and look.

 

From:  <mailto:audio-pals-bounce@xxxxxxxxxxxxx> audio-pals-bounce@xxxxxxxxxxxxx 
[ <mailto:audio-pals-bounce@xxxxxxxxxxxxx> 
mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of Thomas McMahan
Sent: Monday, March 23, 2015 11:09 AM
To:  <mailto:audio-pals@xxxxxxxxxxxxx> audio-pals@xxxxxxxxxxxxx
Subject: [audio-pals] Re: Nose Back to The Grind

 

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 < <mailto:lawdog911@xxxxxxxxxxx> 
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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