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.