So like, anyone care to share their "I bought a house" story?

[NAD]

Because I'm looking into one now, after doing the math and realizing I've sunk $20,000 into the Black Pit of Rent for my apartment over the past two years. If I lived in the big city it'd be one thing, but I don't. So fuck this. I need a garage to work on my car and start a recording studio anyhow dammit.

God damn do I not want to spend $300,000 on a permanent residence here but I don't really have a choice unless I want to live in the ghetto, or move far away and be cold and lonely. Fuck off the expensive as fuck SoCal housing that gives me a paycheck every week!

 

[Tide In Mind Out]

try not to get one made out of particle board. most houses are nowadays. hmmm buy a big old haunted house! *nods*

 

[J.]

I bought a house, and the taxes are killing me. FOr some reason my mortgage company and tax collector can't get their shit straight. We escrow our taxes and yet there are problems.

I love living in a house as opposed to an apartment. However, everything is on YOU! Maintenance, no free amenities, etc. It's a big step, a lot bigger than I had anticipated. It's just the little things that are a pain. FOr example, every time it fucking pours, you're worried your house might flood, or a tree might fall on your roof, etc.

Still, house>apartment. And fuck off nowadays taxes.

 

[General Zod]

Buying a house is a real stressfull event. If you buy new, the builder is in no rush to complete when promised. If you buy used, you are probably dependent on at least 1 or 2 other closings going through on time. That being said, I love the freedom that a house affords. We bought new construction, because my only two tools are a yellow pages and a phone book. So, buying used would have probably been a more expensive proposition.

I'd try to get into a house sooner than later, just because the interest rates will most likely begin to rise shortly.

Zod

 

[lizard]

that's true....rates can't get much lower.

 

[J.]

Good point on the interest rates, Zod. All signs are pointing to rising interest rates.

I bought new construction as well, and our house was postponed for about two weeks. Buying new construction is usually the way to go, unless you find a used house for a really good price. Down here, a smaller used home can cost more than a bigger new construction home within the same neighborhood.

Damn, $300,000 for a house down here could buy a huge place on lakeside property. My house was half that, and it's a 3 bedroom, 2.5 bath two story in an upper middle class/super rich area.

 

[NAD]

They are getting ready to go up, so yeah. I wanted to wait around for housing prices to drop a bit, but that isn't going to happen in California for awhile. Besides, I'm not doing this as an investment really, if I leave the area in a few years and can't make any money by selling I'll just rent it out.

New homes are too expensive, and I'm a real DIY type of dude anyhow so used isn't a problem (except for big stuff like a sinking foundation which I wouldn't mess with). Also homes built in 1867 aren't exactly commonplace out here like in other parts of the country, most were built in the 1950's or later.

I'm tired of changing my oil at my parent's house goddammit, screw apartments.

 

[NAD]

Damn, $300,000 for a house down here could buy a huge place on lakeside property. My house was half that, and it's a 3 bedroom, 2.5 bath two story in an upper middle class/super rich area.

My company did some work at this huge housing tract in Perris about 3 years ago, and the new homes started at $150k. That project is nearing completion and the last of the new homes, same damn ones, are starting at $400k now. I'm in Riverside, if you go to Orange County or San Diego (west and south, respectively) the term "million dollar home" doesn't mean much anymore.

I mean yeehaw for job security, but it still sucks the wallet dry.

 

[J.]

(except for big stuff like a sinking foundation which I wouldn't mess with).

Yeah, what's up with all the mudslides and sinkholes in Cali?

 

[Nate The Great]

If you live ANYWHERE in California, and you can find a nice home for $300,000, BUY IT FAST! With home prices starting at AT LEAST $500,000 near the coast, its only a matter of time before more and more and more and more young people and minorities have to move further inland. I'm assuming the $300,000 homes you are talking about are less than ideal but adequate. Those are the exact homes young people and minorities will be buying right out from under you in no time. Seriously, if you live in California and you see a home priced at $300,000 you better have your check book handy.

According to some stupid formula, you should be able to afford a $300,000 home with about a $65,000 income. I didn't use the formula, though. I'm just estimating what I think that formula would say about a $300,000 home. That's assuming you're not paying off a million credit cards a couple cars and a ton of student loans.

Your best bet is to find a home that's being forclosed on, but that is almost impossible unless you're in the real estate or banking business. Those people buy all those homes strictly to resell at a higher price. Bastards!

 

[lizard]

 

[Nate The Great]

Home buying in California is all about getting into the market. Everybody starts with a small shitty house. Then they sell it for WAY more than they paid for it. Then they buy a nicer, but still small house. Then they sell it for WAY more than they paid for it. Then there is a recession that kills prices for a while. Then prices rise faster than my dick during the Go Daddy commercial. Then they sell their nice small home for WAY more than they paid for it. Then the buy a nice, big home . . . . . . . . . . . . . and so on. That's just how it works.

If I stayed in SLO, I would have tried to buy a $400,000 small condo or something, and then I would have eventually moved up to a house. It's just a longer process than you have to go through in the rest of the country. But most Californian's wouldn't do it any other way.

 

[Nate The Great]

Oh . . . and for anybody wondering if it is worth paying a million dollars for a shitty house right on the coast of California . . . it probably is for most Americans. Until you've experienced that life for an extended period of time, you will never know what I'm talking about. Of course I hate people, so I moved to the middle of no where instead . . . plus I don't have a million dollars for a shitty home on the coast.

 

[NAD]

Yeah, what's up with all the mudslides and sinkholes in Cali?

Lots of mountains, shoddy CalTrans work, climate and earth not accustomed to rain, etc. I'm sure earthquakes shaking shit around all the time doesn't help.

Your best bet is to find a home that's being forclosed on, but that is almost impossible unless you're in the real estate or banking business. Those people buy all those homes strictly to resell at a higher price. Bastards!

My friend is a mortgage broker, he's doing all the work for me, trying to find the best deals. Found several for around $250k in okay areas, looks like $350k if I want a good area. I wish I could've done this 3 years ago when all the homes out here were priced low, but I was working part time going to school then so it wasn't much of a possibility.

@lizard: YES!!!

 

[lizard]

I should have drawn a stick figure paris hilton hanging out the window but - she's already a stick figure!!

 

[Krilons Resa]

It's a big fucking joke.

That said, I love owning a home. Renting sucks and = flushing your $ down the toilet.

 

[Crimson Velvet]

Yeah, I really felt that I was just wasting money when I was renting an apartment. But then again, what was my alternative? Living with my parents until I finally bought my own when I was twenty six years old? I don't think so...

 

[NAD]

But then again, what was my alternative? Living with my parents until I finally bought my own when I was twenty six years old? I don't think so...

EXACTLY. Also, I turn 26 in a month, haha.

My bro just found me a brand new home 2 blocks away from work for $289k, I'm going to take a look right now.

 

[Krilons Resa]

Dude, HOW THE FUCK can you afford a house on your own?

 

[Demilich]

My parents' house (that I live in) cost us $525,000.. and we could only afford that cause my dad inherited a pile of cash from my grandfather! $350 US sounds like a LOT to pay for a decent place to live. Our place is like 3400 square feet, which is pretty damned big even for 5 people.