Buying a house

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Meta4iCAL

Meta4iCAL

Raider Nation
#1
Feb 21, 2005
19,635
4,278
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#1
How many of the brehgoons here are homeowners?

I'm currently looking to buy a home. Already pre-approved and looking. Might even put in an offer tomorrow night. I'm shitting bricks though. I'm excited but hella nervous, just because it's such a huge investment, plus I keep second guessing and thinking it's not the right house.

I'm not married with a family or anything. I'm still young and single, but interest rates and prices are so low, it's dumb not to buy a home now if you're capable of doing so. I can have a mortgage payment lower than fucking rent.

Just curious how the experience went for anyone here that has purchased a home. What were the main factors that went into your decision, location? size? age of the home? etc...

Also, anyone buy a condo/townhome instead of a single family home? If so how do you feel about the purchase. I was considering a condo before, but fuck having a $300 HOA fee, and I've heard from everyone they're so hard to sell and don't appreciate much.
 
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WXS STOMP3R

WXS STOMP3R

SENIOR GANG MEMBER
#4
Feb 27, 2006
6,313
1,454
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#4
Meta4iCAL said:
How many of the brehgoons here are homeowners?

I'm currently looking to buy a home. Already pre-approved and looking. Might even put in an offer tomorrow night. I'm shitting bricks though. I'm excited but hella nervous, just because it's such a huge investment, plus I keep second guessing and thinking it's not the right house.

I'm not married with a family or anything. I'm still young and single, but interest rates and prices are so low, it's dumb not to buy a home now if you're capable of doing so. I can have a mortgage payment lower than fucking rent.

Just curious how the experience went for anyone here that has purchased a home. What were the main factors that went into your decision, location? size? age of the home? etc...

Also, anyone buy a condo/townhome instead of a single family home? If so how do you feel about the purchase. I was considering a condo before, but fuck having a $300 HOA fee, and I've heard from everyone they're so hard to sell and don't appreciate much.
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ASSOCIATIONS CAN MAKE THINGS DIFFICULT,IF YOU EVER TRY TO SELL OR JUST IN GENERAL. SO I WOULD AVOID THAT. LOCATION CAN BE A FACTOR DEPENDING ON THE DEMAND.

DO YOUR HOMEWORK,FIND OUT ABOUT SHIT,GET A SENSE OF WHAT IS GONNA HAPPEN.
PEOPLE ARE SHADY IN EVERY BUSINESS INDUSTRY,EVEN IF THEY DON'T LOOK IT
 
Arson

Arson

Long live the KING!!!!
#7
May 7, 2002
15,796
10,860
113
#7
Get a place with hella rooms, rent the mother fuckers out, pay the bills with rent, live for free, buy another house, rinse repeat.
 
Meta4iCAL

Meta4iCAL

Raider Nation
#10
Feb 21, 2005
19,635
4,278
113
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#10
really not that hard if you make an effort to stack a little bit. you got pretty decent homes priced around $150-$200k... which is what I'm looking at. at 3.75% interest... it's nothin... $5,500 - $7,500 down

closing costs are gonna be the worst... but a lot of times you can credit from the seller... or just add that shit to the principle to increase your payment a little bit
 
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phncke

phncke

Sicc OG
#11
May 22, 2006
1,365
2,349
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#11
I own a house. My advice is look at as many houses as u can and buy a newer house. I bought a house built in 1932 and there was no code for a lot of important things back then.
 
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Meta4iCAL

Meta4iCAL

Raider Nation
#12
Feb 21, 2005
19,635
4,278
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37
#12
phncke said:
I own a house. My advice is look at as many houses as u can and buy a newer house. I bought a house built in 1932 and there was no code for a lot of important things back then.
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Yeah, that's way older than what I'm looking for. I'd prefer something in the 90's, but may have to settle for something from the 80's, which is still relatively new
 
ayo4yayo

ayo4yayo

Sicc OG
#15
Jul 25, 2007
4,989
2,060
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#15
Look at short sales or REOs but its still cheaper to rent considering that the landlord will have to pay for repairs and you dont have to pay property taxes. People will say that rent is "too got dam high. With those prices, you might as well get a mortgage" but why invest in something that will not appreciate?

Homes are like cars now. Once you drive them off the lot, your value goes down. It use to be the opposite.

The real estate market is in the shitter right now and will be there for awhile. In todays market, I hope you think about staying in that spot for life. Hoping that the market will pick back up and gain some equity so you can sell it at a profit. Majority of the people buying up houses right now are investors from China or some other country taking advantage of our housing crash. They did a segment about this on NBC.

Dude your single with no family. Why even think about buying a home? Dont say pussu. If thats the case and you got the money, rent a luxury apartment.
 
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Snakegang

Snakegang

Sicc OG
#16
Aug 26, 2002
2,504
32,421
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Hard Times
#16
Make sure to have the house fully evaluated. Im the land lord for a family member on a house and shit is always going bad. It's a 100 year old house, so a little different than most... but still. A furnace going out or a major plumbing issue could equal 3-4 months of rent. Make sure you get shit checked out and make sure you have some savings to cover shit. Also make sure its in a decent part of town, or a part thats coming up. No matter how nice the place is, if its in the super ghetto, it wont go up in value.
 
Mr. Nice Guy

Mr. Nice Guy

Sicc OG
#18
Nov 24, 2003
6,307
3,639
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#18
Meta4iCAL said:
]it's dumb not to buy a home now if you're capable of doing so
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That's not really true.


But if you are committed to buying something, definitely stay away from any associations. Not only can they impose hefty special assessments without the consent of the owners, poor mismanagement of reserves can cause serious consequences for all the owners and often leave them with the inability to sell.
 
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ayo4yayo

ayo4yayo

Sicc OG
#19
Jul 25, 2007
4,989
2,060
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#19
MacGuinn said:
Make sure to have the house fully evaluated. Im the land lord for a family member on a house and shit is always going bad. It's a 100 year old house, so a little different than most... but still. A furnace going out or a major plumbing issue could equal 3-4 months of rent. Make sure you get shit checked out and make sure you have some savings to cover shit. Also make sure its in a decent part of town, or a part thats coming up. No matter how nice the place is, if its in the super ghetto, it wont go up in value.
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If he's smart he would request a home inspection of the property but if its a short sale or REO, thats gonna come out of his pocket.

Did you just prop my post because your a landlord? haha
 
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