For all of you guys who are homeowners or newly owned

[grismosw]

Also you should negotiate the 30k. Telling them you'd really like to do it but cannot swallow the full 30k, ask if they can make it happen for 25k.

These guys turn ~25% profit so they have room to move, especially since they will already be there.

[cjonesfan921]

Re: For all of you guys who are homeowners or newly owned

You're saving more than enough my friend.

When you first said your savings would dwindle, I thought you would proabbly be saving less than a grand. 2 grand in savings a month, if you stuck with it is more than enough. You have to have balance in life. This is your house, somewhere you will spend the majority of your time in on a daily basis.

I think a house is something where you need it to have everything you wanted, within reason. That's within reason. Go for it.

[ScoobySnax]

I appreciate all the responses and you guys make perfect sense. If I'm going to do it, I gotta do it right. I am going to try to negotiate on the option though. If we could get them to move $5 or $10k, that would be great. We're thinking of going in either at the end of this month or end of next month (year end). Hopefully, that will give us a little more negotiating power.


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[jeremym480]

Re: For all of you guys who are homeowners or newly owned

The top floor would add additional 700 sq ft.

We are renting an apartment right now and moving into this home would take our savings from $2850/month down to about $2200/month. This is all based on our incomes at the moment. It's about $150 difference in monthly payments between the two options, which isn't substantial, but it does equate to a cell phone or utility bill. I guess I'm just a little apprehensive about buying a home and don't want to over-extend myself. On the other hand, I don't want to short-change myself and end up regretting it in the long run. Man, this is tough. Lol.


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That's what, roughly $35-40/wk for a Man Cave? Also said Man Cave is secluded from the rest of the house? If that doesn't stretch you too thin, then that's money well spent, in my opinion.

[grismosw]

Be careful when you are negotiating it. If you ask for too much they won't do anything.

[mgoblue]

Re: For all of you guys who are homeowners or newly owned

I appreciate all the responses and you guys make perfect sense. If I'm going to do it, I gotta do it right. I am going to try to negotiate on the option though. If we could get them to move $5 or $10k, that would be great. We're thinking of going in either at the end of this month or end of next month (year end). Hopefully, that will give us a little more negotiating power.


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Be careful. One thing to think about is if you want kids eventually and if she'll stop working to take care of them for a bit....

May not be the case for you, but with my fiancee's crappy state job we made sure we could live pretty well just on my salary. Never know what happens. Plus we think she'd want to watch kids for the first year or two at least...it'd at least be a little time.

[PadresFan]

Update on our housing situation... Good friends needed a place to rent ASAP so they rented our house and we took it off the market. Mortgage is covered by rent and we have tenants we trust... Worked out better than expected. At the age of 30, I now have 2 rental/investment properties...

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[mgoblue]

Re: For all of you guys who are homeowners or newly owned

Update on our housing situation... Good friends needed a place to rent ASAP so they rented our house and we took it off the market. Mortgage is covered by rent and we have tenants we trust... Worked out better than expected. At the age of 30, I now have 2 rental/investment properties...

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Awesome! Sounds perfect, and lets the market improve for whenever you do try and sell it.

[PadresFan]

Awesome! Sounds perfect, and lets the market improve for whenever you do try and sell it.

Exactly our thinking too. In the next year or so, we are going to refinance it and hopefully start making a profit. The way it looks though, it will be a rental property since we plan on moving into a smaller place anyway.

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[23]

That sir is wealth

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[PadresFan]

That sir is wealth

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I wish that was the case with my bank accounts. Just comes down to smart financial decisions.

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[23]

Re: For all of you guys who are homeowners or newly owned

lol, thats what it takes but you're building it

[mgoblue]

Re: For all of you guys who are homeowners or newly owned

I wish that was the case with my bank accounts. Just comes down to smart financial decisions.

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LOL I know the feeling...we are also paying for a wedding in May, so we have money in savings, but houses cause you to take quite a hit.

lol, thats what it takes but you're building it

Gotta love putting money into something rather than just renting...Feels so good to have somewhere permanent, especially when buying furniture and whatnot.

[23]

Re: For all of you guys who are homeowners or newly owned

Absolutely man... its just different than renting altogether. The pride of ownership kicks in and knowing you can settle down and relax is second to none

[FlyingFinn]

Re: For all of you guys who are homeowners or newly owned

I am just the opposite. I just sold my house. Didn't technically lose money (got more then I paid for it but less then I put into it) but it was nice to get out from under the mortgage. It allowed me to move to Germany.