[audio-pals] Re: Nose Back to The Grind
- From: "Josh" <lawdog911@xxxxxxxxxxx>
- To: <audio-pals@xxxxxxxxxxxxx>
- Date: Tue, 24 Mar 2015 17:40:50 -0400
I think, notice I said think, because Amanda may have other plans for me *LOL*,
but unless something looks extremely good in the next month or so we will
probably be staying where we are.
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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