Became a home owner today

[Tone C]

Shit, I became an owner and then came the barking dog neighbors.

Funny because we're the barking dog neighbours...

 

[IndyCovaHart]

Congratulations. Im waiting for foreclosures. Yeah I guess Im kind of a prick.

Ditto.

Even vultures play their part in the ecosystem.

 

[SalvadorAllende]

Congrats TS!

 

[Long Dark Blues]

Congratulations, TS.

Don't lapse on maintenance and you'll have a whole lot less headaches throughout the years.

Do what you can yourself, hire a good pro for what you can't or don't feel confident doing.

 

[Yodhin]

If your home doesn't profit you at least $300/month after all expenses, it's not a gain. You're better off renting a cheaper place and taking the difference and investing it. For example, I chose to rent a big loft for $900/month (which includes all utilities) instead of buying a small house or condo which averages about $1300/month.

I take that $400 difference and invest it every month into a Roth and Mutual Funds paying me about 4.6% in this current market. In five years that accumulates to $24,000 in just five years. Can a home owner guarantee they'll make $24k profit in that same amount of time ?

https://www.kiplinger.com/article/real-estate/T010-C047-S002-when-renting-is-better-than-buying.html

 

[Kowboy Karl]

Congrats, but it’s not all it’s cracked up to be..George Carlin said it’s just a big place with a cover to hold your stuff..(most of the stuff you don’t need)

my worst fear

I made sure to try and throw as much stuff out and to donate my kids toys before moving

 

[Long Dark Blues]

If your home doesn't profit you at least $300/month after all expenses, it's not a gain. You're better off renting a cheaper place and taking the difference and investing it. For example, I chose to rent a big loft for $900/month (which includes all utilities) instead of buying a small house or condo which averages about $1300/month.

I take that $400 difference and invest it every month into a Roth and Mutual Funds paying me about 4.6% in this current market. In five years that accumulates to $24,000 in just five years. Can a home owner guarantee they'll make $24k profit in that same amount of time ?

https://www.kiplinger.com/article/real-estate/T010-C047-S002-when-renting-is-better-than-buying.html

Yes it is, your gain just isn't monetary.

You gain peace of mind knowing that you aren't sleeping on the streets, that your kids have a roof over their heads, etc.

The utility of a home isn't in just how much you can make from it. The true utility of a home is the memories you make and the lives your kids go on to lead.

 

[Kowboy Karl]

Funny because we're the barking dog neighbours...

I made a separate thread about this about a year ago

these people left their dogs for 3 months in backyard and they barked non stop all day and night

 

[jx820]

It's a scary time to be making a big investment, but good on you for getting it done despite what I imagine were a lot of hurdles.

 

[lifelessheap]

Yep. Fuck you and every other transplant from Cali

but I am a conservative awhile who keeps to himself. I pick up trash when I go to the park, I don't leave it.

And my entire town was incinerated so I actually was forced to move. I will never vote blue.

 

[TeTe]

Congrats! I had been looking myself, then 5 weeks ago when my state went on lockdown, realtors were declared non-essential and the whole market froze. Now it'll be atleast May 15th before it ends..I'm hoping things come back with a vengeance because my lease is up in September..and if it's slow moving I'm going to get squeezed.

Can't you go month to month? I'm in the same boat as you as my lease goes up Sept 30th. We're still going to try to find a realtor soon regardless of this nonsense but the last thing I'm going to do is stay bound to a lease if I need to bounce. Of course we'll probably have to pay more month to month, but it's better than losing our deposit.

 

[shunyata]

I am a home owner. A $1,500,000 house that needs a lot of work done still.

Wish I lived somewhere cheaper.

*reading this thinking "where the fook does he live that $1.5 mill isn't an awesome property?"*



Ohhhhhhh, Vancouver.


It's like Santa Monica with bad weather.

 

[POWER2]

No more barking dog neighbors

however I’ve heard your home owns you

anyway

today was a good day

I've owned homes for twenty years. Every one of them came with a barking dog next door. You're fucked if that was your objective. LOL

And yes, houses own you. I just paid off my roof yesterday. Two summers ago, it was a kitchen remodel. Three years before that it was a bathroom remodel. I've got a driveway that needs replacing that I'm sure will run $5,000 or more. After that, I need to plan to replace my furnace in next 4 years. The only thing that has cost me more money is sending my son to private school and college. But at least I know exactly when those expenses are coming.

 

[POWER2]

*reading this thinking "where the fook does he live that $1.5 mill isn't an awesome property?"*



Ohhhhhhh, Vancouver.


It's like Santa Monica with bad weather.

Every house needs maintenance. The value of a house is based on location, size of lot, size of house, amenities, materials used in construction, school district, economic vitality, crime, fiscal health of local government, etc. But a roof is a roof. If it needs to be replaced, it needs to be replaced. The good news is that in some places, a $1.5 million house is no bigger than a house that costs $200,000 elsewhere, so it's possible it's a small roof. LOL

 

[Kowboy Karl]

I've owned homes for twenty years. Every one of them came with a barking dog next door. You're fucked if that was your objective. LOL


And yes, houses own you. I just paid off my roof yesterday. Two summers ago, it was a kitchen remodel. Three years before that it was a bathroom remodel. I've got a driveway that needs replacing that I'm sure will run $5,000 or more. After that, I need to plan to replace my furnace in next 4 years. The only thing that has cost me more money is sending my son to private school and college. But at least I know exactly when those expenses are coming.

no for real

these neighbors had 6 dogs that they left in backyard while they were gone 3 months

they left a giant bucket of water and a giant bag of food and left

The game pit wound up killing one of the dogs and dragged its body all over the house

 

[shunyata]

Funny because we're the barking dog neighbours...

I prefer the crying / whiny husky neighbors.

 

[jx820]

You gain peace of mind knowing that you aren't sleeping on the streets, that your kids have a roof over their heads, etc.

I completely disagree.

Mortgage, taxes, and liability have eroded any peace of mind I've ever had. I look at it as a bet. I'm putting up all the equity I've ever worked for saying to the bank I bet there will never be financial situation so bad I can't come up with 3 grand every single month.

Every night when I go to sleep I'm thinking about stacks of thousand dollar chips on the felt. Every payment I make I'm building that pile up, betting more and more on my continued success.

Of all the benefits of home ownership I wouldn't list peace of mind.

 

[Oblivian]

Congrats! I had been looking myself, then 5 weeks ago when my state went on lockdown, realtors were declared non-essential and the whole market froze. Now it'll be atleast May 15th before it ends..I'm hoping things come back with a vengeance because my lease is up in September..and if it's slow moving I'm going to get squeezed.

What state are you in? Our state has declared real estate an essential service. You can actually conduct the entire process with very limited contact.

 

[Yodhin]

Yes it is, your gain just isn't monetary.

You gain peace of mind knowing that you aren't sleeping on the streets, that your kids have a roof over their heads, etc.

The utility of a home isn't in just how much you can make from it. The true utility of a home is the memories you make and the lives your kids go on to lead.

Ummmmm what happens if you miss a mortgage payment ? The fact is, until you pay off every last penny to the bank, you don't own anything. You're just rent-to-owning it from the lender. I would say home owners have more to worry about than renters given the costs of upkeep, broken appliances, heaters, new roof every 10 years. Not to mention you still pay about $300/month in property taxes even if you pay off the entire loan.

 

[boingyman]

*reading this thinking "where the fook does he live that $1.5 mill isn't an awesome property?"*



Ohhhhhhh, Vancouver.


It's like Santa Monica with bad weather.

The better locations in the bay area of California and Honolulu, Hawaii will unfortunately not get you much for $1.5 million in terms of a single family home. Once you break the $2 million mark though things start to look better.