Any Homeowners?

[fkmp5]

bought a townhouse last december. moved in 4 days before christmas. in group townhouse built in 1983, with small yard (.03 acre), 3 bedroom, 2 full bath, finished basement. deck out back with a walk out patio underneath of it. house backs up to woods. paid $109K. it seems Baltimore is a bit more expensive to live in then I thought (compared to what you guys seem to be getting for almost the same amount of money). came equipped with central air and a home owners association that does nothing except collect monthly dues.

 

[Darin]

came equipped with central air and a home owners association that does nothing except collect monthly dues.

I have never heard of such an association that does ANYTHING different. It sucks. I'm getting tired of people getting MY money.

 

[1sty]

I couldn't afford a real house up here as they are all $250K and up so I am stuck paying $200/month in damn condo fees.
Although once resided I may put it on the market to see what I can make on it

 

[Darin]

I couldn't afford a real house up here as they are all $250K and up so I am stuck paying $200/month in damn condo fees.
Although once resided I may put it on the market to see what I can make on it

Geesh...$200/month? wow. Even our Home-Nazi-Associations here are no more than about $50/month...

 

[1sty]

$200 is average up here

 

[GerardPRO5]

my monthly fees for living in Irvine, CA:

$195/mo for maintenance association
$35/mo for homeowner's association
$1700/mo for mortgage
$200+/mo for bills

that's ok though. my wife and I make more than the median income in Irvine (median income is $98,000/yr).

also, all properties in Irvine have historically appreciated 10-15% every year.

so, in a few years, my 2 bedroom $260K townhouse will become a 2 bedroom $360K townhouse...which will allow us to cash out on the equity and move to a bigger place in Irvine.

 

[ZoomZoomH]

my house is in the progress of getting built.

i'll take a pic of it sometime

 

[BacDoc]

Trying to buy a house back home in West Virginia this fall. You guys should move there....200k gets you a mansion with a gate a gaurd and a butler service.

 

[JPBlackMP5]

Southern Cali real estate sux. Glad my house continues to appreciate. Thanx be to God for refinancing! Hard to believe when i first bought a home interest rates were near 20%. Mine:

/members/JPBlackMP5/house_car.jpg

 

[Darin]

Trying to buy a house back home in West Virginia this fall. You guys should move there....200k gets you a mansion with a gate a gaurd and a butler service.

Yup - I'd take a transfer back east, in a heartbeat. In/Around atlanta is the same thing. :-/

 

[orangezoom]

I have a house in Naples Florida 1800 Sq ft. I bought a year ago for $153,000.00 just had it appraised at $290,000.00 Swimming pool about an acre of land. Mine is one of the least expensive areas to live in. Prices are going crazy.

 

[DooMer_MP3]

I still rent, because its going to take a hell of a house for me to want to settle down in. I don't like the cookie cutter crap I see with baby trees. I'll need a house in a wooded area with some seclusion and a big yard, but close to a downtown area. But in the next few years I'd like to rent an apartment or buy a condo in a downtown area of a city, maybe Milwaukee. Houses just don't do it for me yet.

I'm not a big fan of urban sprawl, and I'm regretting moving out of downtown Madison to the suburbs as soon as I got out of school. What was I thinking. I enjoyed being able to walk to any restaurant or friend's house. Oh well.

Chris

 

[Allen]

Homes and businesses in Austin, Texas suck. Apartments everywhere, prices skyrocketing, land prices not dropping, tech companies disappearing by the drove and the city council talk as if the city is going into bankruptcy (i.e. Orange county many years ago). Just a few weeks ago they talked about giving the fire fighters and police force a raise, but now they are talking about cutting budget on them. Cut budget on the public libraries and a whole bunch of other things. They have been blocking traffic every other night on our main highway for the past few months ... on a highway that wasn't in need of a major overhaul (in regards to re-paving the road, it does need a major overhaul in design). They spend where it is not needed and they cut where improvement is necessary. Do they know what they are doing?!?! :mad:

 

[Darin]

I still rent, because its going to take a hell of a house for me to want to settle down in. I don't like the cookie cutter crap I see with baby trees. I'll need a house in a wooded area with some seclusion and a big yard, but close to a downtown area. But in the next few years I'd like to rent an apartment or buy a condo in a downtown area of a city, maybe Milwaukee. Houses just don't do it for me yet.

I'm not a big fan of urban sprawl, and I'm regretting moving out of downtown Madison to the suburbs as soon as I got out of school. What was I thinking. I enjoyed being able to walk to any restaurant or friend's house. Oh well.

Chris

But Rent isn't tax-deductable...find one of those cookie-cutter homes...take your $1000/month, or whatever, Rent, and apply that towards earned equity. PLUS, your interest on your loan (some 90% of your monthly mortgage amount, the first part of your loan) is a straight tax deduction, as is the property tax you pay.

If my wife and I waited for our 'dream home' when we bought our current house, 3 years ago, we'd have paid ~$12K a year on an appartment, to end up w/ NOTHING.

As is, that $36K has turned into about $20K in equity + about $30K in Tax deductions.

$50,000 - $36K in payments = ~$14000 ahead


$14,000 > $0

 

[stdntDrvr]

bought house for 99,995
1700 sq/ft
3 bed/2 bath
1acre lot

selling for 119,900

my rate: 5.75%

my payment: 730

any takers?

 

[stdntDrvr]

the house is 8 years old.

 

[dficken]

I own 2 houses. 1st one is a small house that I rent out to my brother in IL. Good investment when he pays the rent

2nd is the house I and my family live in. It's in St. Louis. Good Neighborhood, not the best schools but plan on sending my kids to private school anyway. Only paid $80k for it 4 yrs ago and will have it paid off in 6 or 7 more years .

I also plan on adding onto the front of the house to double the living room size and kitchen size. Also adding a fireplace. It currently has 3 bedrooms and one bath. I used to be in construction so I can do a lot of the work myself and will save a lot. I will probably add another bath after we remodel the front.

All in all a very nice house. Built in 1950 and very well taken care of. Plus its in a great area that is about 15 min. from downtown (where my wife works) and 15 min the opposite way (where I work)

I don't plan on moving anytime soon. I would much rather pay my house off and use the $$ for traveling and hobbies. Also plan on buying the house across the street when the guy wants to sell it so we can fix it up and re-sell of rent.

I don't understand how people can afford 300k houses. You guys must be making mega bucks.

 

[DooMer_MP3]

But Rent isn't tax-deductable...find one of those cookie-cutter homes...take your $1000/month, or whatever, Rent, and apply that towards earned equity. PLUS, your interest on your loan (some 90% of your monthly mortgage amount, the first part of your loan) is a straight tax deduction, as is the property tax you pay.

If my wife and I waited for our 'dream home' when we bought our current house, 3 years ago, we'd have paid ~$12K a year on an appartment, to end up w/ NOTHING.

As is, that $36K has turned into about $20K in equity + about $30K in Tax deductions.

$50,000 - $36K in payments = ~$14000 ahead


$14,000 > $0

I know of the financial benefits of home ownership, but not a lot (thanks for throwing some figures out ), but at this time there are other things that play into the decision.

I'm currently waiting for my girlfriend (99.9% chance my future wife ) to finish pharmacy school. We aren't sure where we want to live yet. Stay in Madison? Move back to Milwaukee? Move to another state for awhile? I help her with rent right now, and soon when she makes her $95k and becomes my sugar mama, we'll figure it out .

Until then, we really aren't sure where we want to be, and unfortunately rent is "good" in that aspect. It also gives us a chance to live downtown in a city if we choose to. I also think I'd probably shoot myself if I lived in a cookie cutter neighborhood for a few more years. I just cannot stand them.

So for now, rent it is, or maybe a condo. The thing that makes me jealous from all the pictures in this thread is the garage! .

Thanks for the reply.

Chris

 

[Darin]

I know of the financial benefits of home ownership, but not a lot (thanks for throwing some figures out ), but at this time there are other things that play into the decision.

I'm currently waiting for my girlfriend (99.9% chance my future wife ) to finish pharmacy school. We aren't sure where we want to live yet. Stay in Madison? Move back to Milwaukee? Move to another state for awhile? I help her with rent right now, and soon when she makes her $95k and becomes my sugar mama, we'll figure it out .

Until then, we really aren't sure where we want to be, and unfortunately rent is "good" in that aspect. It also gives us a chance to live downtown in a city if we choose to. I also think I'd probably shoot myself if I lived in a cookie cutter neighborhood for a few more years. I just cannot stand them.

So for now, rent it is, or maybe a condo. The thing that makes me jealous from all the pictures in this thread is the garage! .

Thanks for the reply.

Chris

No sweat - that's what I'm here for.

And 'Good Luck'

 

[EXA4DRIVER]

I agree with an earlier post, real estate in So Cal sucks ass if you are a buyer, but if you are selling, man I wish I were you. I've bid on three properties, and I've actually over bid by $15-20K over the asking price and still get out bidded :mad: Plus if you want to live in a good area, all you can afford is a townhouse or a condo. :mad: