Thinking of buying a house

Non-Phish General
#1

Not sure this is deserving of its own thread, but what the hey?

I’m thinking of buying this house:

http://www.realestateone.com/content/PropertyDetail.asp

I will live with my two roomates that I lived with in college for 4 years.

That will help pay the bills and whatnot.

Whatch’all think?

Any homeowners have any advice?

#2

I just bought a place and I am really happy with my decision. The housing market is perfect for a first time buyer right now. Prices are low, and interest rates are favorable. If you don’t have something to sell, the time is right. Just be prepared. There are a lot of costs involved that you might not consider. Taxes (mine are about $5000 a year), assessments, and other incremental charges totally make this a tough prospect.

However, owning a place is preferable. You don’t have to worry about a landlord screwing you or barging into your place. Just make sure you play hardball with negotiation. This is a buyers market and you can really get your money’s worth. I negotiated a $60,000 drop in price on my place!!! Make the seller paint, keep in window treatments, and even try to get them to leave furniture if you need it. You can totally do all of that kind of stuff right now.

#3

Buying a house, if you can afford it, is one of the smartest financial investments you can make, and I believe you should go for it. (btw, that link didn’t take us to the house listing, just to the start page)

That being said, you cannot buy a house counting on roommates paying you rent to make the payments. Things change with roommates, sometimes very suddenly, and if you need that income to support the house, you may find yourself in a bind to live with anyone just to get that income back so as not to lose the house.

If you can’t support the mortgage and taxes on your salary alone, I would think twice about it.

#4

can i get some heady floorspace, man?

#5

this should work:

http://www.realestateone.com/content/PropertyBrochure.asp?listingNumber=e27085227&agentNumber=251694

Roomates:

1)Brady

anyone else up for an OKP house??

#6

only if you buy fishman’s house

#7

are you aware that the house you are looking at is listed as “at close”?

sorry to bust your bubble…
and if you’re the one closing on it, then sweet tits.

#8

I really need to buy, but since I’m renting I can’t afford to save up a down payment…It’s just a vicious cycle.

#9

Bought a house 2 years ago do it, I got a roomate and he pays more than half my mortgage, a no brainer

#10
#11

I dunno, it just seems like a lot of work. Do you have a lot of enclosed land? Feed, cleaning up, a stable. The postives are that riding one could be a real relaxing experience. You could turn into a cowboy. Not in a Brokeback kind-of-way, though.

#12

huh?, now your buying a horse?

i’d take the house over the horse

#13

I bought my first last year and have been very happy. It’s teh first time I’ve lived on my own too which is sweet. The market here in the UK is not great - the prices are going up and up so it’s a case of buy as soon as you can and hope that things don’t bottom out. I am finding things a bit tough financially at the moment, mostly because I’m finding it tough getting a new job but hopefully this will be a short term thing. Overall I recommend it. Paying money to buy a house for your landlord will ultimately leave you with nothing. And although interest rates may rise and fall, the amount you have to repay each month doesn’t go up with inflation like rent does so in ten years time, the repayments should be about the same they are today so you’ll be in a relatively better position (inflation affecting your wages positively) providing interest rates don’t go mental. Good luck.

#14