For all of you guys who are homeowners or newly owned

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  • Redacted01
    Hall Of Fame
    • Aug 2007
    • 10316

    #721
    Re: For all of you guys who are homeowners or newly owned

    Originally posted by GAMEC0CK2002
    UPDATE: Got a chance to walk through 4 more model homes in my preferred community. Maybe it was just the floor plan, but 1500 sq. ft. felt TINY. No longer an option.

    It's a $12,500 price jump to the next largest size of 1800 sq. ft. but only a $3,500 price increase from that middle size to the largest size of 2200 sq. ft.

    Is this typical?
    Depends on the house. There was one ranch and one two-story plan they had I liked. the 2 story had 300 more sqft and was $2000 less. Another builder I looked at had a ranch plan that was about 50 sqft more than the first builder but lacked a 3rd car garage. It was $40,000 more, and their stuff isn't as nice...

    I'd have to know what you're starting at, but it all depends on what's going in it and where that extra square footage is. If it's to make the kitchen larger, now you have more cabinets, tile, hardwood floors/tile whatever. If it's in the bedroom, you add a bit more wall and carpet.

    And 1500 is tiny, but it also depends on what you're doing. Without a finished basement mine was ~1800 and even I thought that was small. But I grew up in a big house and I and my girlfriend each need our own office, so I went ahead and finished the basement. 2400+ ought to be plenty.

    When looking at plans, keep a few things in mind

    1) You're going to have to furnish it. if you can't find a way to use all the rooms the 2200 sqft, then it's too large. A guest bedroom easily becomes a kid's room so if you don't want to/plan to move for awhile, have to keep things like that in mind.

    2) When comparing different sized plans, compare room by room. If the kitchen is 20 sqft larger, that's going to cost more than if the master is 20 sqft larger. Did the 1800 plan have a major change to the master bathroom? Putting a tub in mine in addition to a walk in shower was a few grand. The 1800 to the 2200 might not have that change.

    3) Lot size. If these are ranches, the 1800 might be crammed on the lot and the 2200 impossible. My lot was smallish (partially because I didn't want to manage something 0.5 acre or more). Some of the ranch plans wouldn't have left me with much yard at all.

    4) The plans have different size garages? A 3rd stall will add about $8500-$11000 depending on your builder.
    Last edited by Redacted01; 01-03-2015, 01:53 PM.

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    • GAMEC0CK2002
      Stayin Alive
      • Aug 2002
      • 10384

      #722
      Re: For all of you guys who are homeowners or newly owned

      Pulled the trigger on a new house. My cousin convinced me that it was a good idea to spend extra to add a 3rd level and use that as my master bedroom. The other big expense was getting a stone exterior. I'm excited.

      Close in 4 to 6 months.

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      • Lava
        Pro
        • Mar 2009
        • 966

        #723
        Re: For all of you guys who are homeowners or newly owned

        Closed on a house in Olathe, KS (KC suburb) area on Friday. First weekend was a success. Appliances were delivered yesterday, installed about half the blinds, and a new faucet. Just waiting on the moving company to get the furniture here on Wednesday.
        Last edited by Lava; 01-19-2015, 01:45 AM.
        Yankees | Titans | Huskers | Kings

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        • Scott
          Your Go-to TV Expert
          • Jul 2002
          • 20031

          #724
          Re: For all of you guys who are homeowners or newly owned

          We just bought our house on 1/17/14 and we're hopefully going to sell within the next year..We want to move away from Austin, just too big for us...
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          • Redacted01
            Hall Of Fame
            • Aug 2007
            • 10316

            #725
            Re: For all of you guys who are homeowners or newly owned

            Mine should be about 4-6 weeks from closing. Dry wall is up and textured. Made my last selections yesterday, so just a matter of time now to finish the interior.

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            • GAMEC0CK2002
              Stayin Alive
              • Aug 2002
              • 10384

              #726
              Re: For all of you guys who are homeowners or newly owned

              Need to hear some feedback on a couple of upgrades I chose NOT to get:

              A gas fireplace for $2400 and granite countertops in the kitchen for $3200

              My cousin, who has bought and owns several properties says I can get both
              done for much less than the price the builders quoted me.

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              • Redacted01
                Hall Of Fame
                • Aug 2007
                • 10316

                #727
                Re: For all of you guys who are homeowners or newly owned

                Those were included on mine, so not as much help, however I'm going to say doing a fireplace after the fact is not going to be as easy as if they built it in now, especially if it's not going to be on a flat wall like I did. Not impossible, but the "cheaper" cost later wouldn't be much lower because of what else has to be done. If it's going to be flush with the wall, it's going to protrude out the side of the house and that would take work after the rest of the house is done. You've also got to consider that if there is no gas line there now, that's going to have to be added in later. My builder quoted me $250 on adding a gas line over to the kitchen (before I got it put into the purchase agreement), and that was in a new construction and with the advantage of a basement. Depending on the location related to your gas line, that could be really expensive. I'd guess you'd spend almost as much, if not more depending on your situation later. I'd say go for the fireplace now and negotiate if you can.

                The countertops, depends on how much counter space you have. I have 50 square feet of countertop, give or take. That price would be at the high end for an installation. That is something you can wait and shop around for, though, as replacing countertops is pretty basic compared to installing a fireplace.

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                • 23
                  yellow
                  • Sep 2002
                  • 66469

                  #728
                  Re: For all of you guys who are homeowners or newly owned

                  Granite is pretty expensive though but hey maybe you decide later you want some other material instead.

                  Either way you're going to pay man...do you really need a fireplace?

                  What's your line of thinking now and later on these two options?

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                  • GAMEC0CK2002
                    Stayin Alive
                    • Aug 2002
                    • 10384

                    #729
                    Re: For all of you guys who are homeowners or newly owned

                    23 and Doc: Don't think I would use the fireplace enough to warrant the price, just thinking down the road if/when it comes time to sell.

                    Counter tops, will have to get done though. Did some online searching, and found a couple of local companies that can get it done for less than their asking price (assuming that I have less than 75 square feet).

                    Here's a video of the model home (floor plan I went with) : https://www.youtube.com/watch?v=y80a09VlfhM
                    Last edited by GAMEC0CK2002; 01-25-2015, 05:43 PM.

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                    • Redacted01
                      Hall Of Fame
                      • Aug 2007
                      • 10316

                      #730
                      Re: For all of you guys who are homeowners or newly owned

                      Yea, that quote sounds really high on countertops given you don't seem to have THAT much. My dad likes quartz, but I want to say it's pretty pricy as well.

                      Up here in Iowa, a fireplace is mandatory. Hell, even my friend back home in Mississippi has a direct vent like I'll have. He uses it all the time. If it's a direct vent you'd be getting installed, I'd consider it still. It can really cut down on your heating costs as they're quite efficient. Running the fireplace is a fraction of the cost of running the furnace. If you rarely use the heat in winter now, though, you probably wouldn't get the use out of it. However, you do lose a key feature in most living rooms. Sure, you'll put a TV or something on that wall and it won't even be a second thought, but I can only remember living in one house without a fireplace, and the living room was just too small for it. Otherwise, most people just expect to see a fireplace in a living/family room of some sort. I'd say think about that one. Keep it as an option unless other more important things show up in the budget.

                      I looked up the plan and the one ironic thing I find is they describe the master bedroom as oversized. When did 13x14 become oversized for a master? Mine was originally 13x15 and I thought that was too small, so when I redid the layout, I created an 18'x15' master suite. Now that's oversized!
                      Last edited by Redacted01; 01-25-2015, 06:41 PM.

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                      • GAMEC0CK2002
                        Stayin Alive
                        • Aug 2002
                        • 10384

                        #731
                        Re: For all of you guys who are homeowners or newly owned

                        Originally posted by dochalladay32
                        Yea, that quote sounds really high on countertops given you don't seem to have THAT much. My dad likes quartz, but I want to say it's pretty pricy as well.

                        Up here in Iowa, a fireplace is mandatory. Hell, even my friend back home in Mississippi has a direct vent like I'll have. He uses it all the time. If it's a direct vent you'd be getting installed, I'd consider it still. It can really cut down on your heating costs as they're quite efficient. Running the fireplace is a fraction of the cost of running the furnace. If you rarely use the heat in winter now, though, you probably wouldn't get the use out of it. However, you do lose a key feature in most living rooms. Sure, you'll put a TV or something on that wall and it won't even be a second thought, but I can only remember living in one house without a fireplace, and the living room was just too small for it. Otherwise, most people just expect to see a fireplace in a living/family room of some sort. I'd say think about that one. Keep it as an option unless other more important things show up in the budget.

                        I looked up the plan and the one ironic thing I find is they describe the master bedroom as oversized. When did 13x14 become oversized for a master? Mine was originally 13x15 and I thought that was too small, so when I redid the layout, I created an 18'x15' master suite. Now that's oversized!
                        They had a $10K incentive package, so I went with the 3rd floor option (loft, bathroom, closet and door) for an extra $5K out of pocket. So almost 400 square feet for my bedroom/man cave.
                        Last edited by GAMEC0CK2002; 01-25-2015, 07:28 PM.

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                        • Herky
                          Working for the weekend
                          • Jun 2004
                          • 4715

                          #732
                          Re: For all of you guys who are homeowners or newly owned

                          Originally posted by 23
                          Were you guys scared to approach the process?

                          Did you feel as though you weren't sure you could do it?

                          What made you go through with the process if those were some of your feelings?
                          My wife and I are closing on our first house on Feb 5th. When we started looking we didn't think we could afford the one we are buying, but then it came down in price and I got a raise at work. Our payment is going to be a few hundred more then we are paying for rent. We are a little nervous but will learn to adjust to the extra costs that owning a home require. We just purchased all new appliances for it yesterday outside of a stove that is coming with the house. I'm sure once we go and close the nerves will pass. Our first house payment is due in March.

                          The thing that kept us focused while looking at houses (we looked at a lot of them), was that we wanted to get out of apartment living. We are ready to be done with weird neighbors, paper thin walls, and little storage space and just saved enough for a decent down payment. We didn't rush things and actually look at the house we are buying in November, but didn't think we'd be able to afford it.

                          We are pretty excited for sure. The best part is outside of painting we don't have to really do anything to the house. It's been well taken care of and we can wait a few years before really doing any updating. Plus it's got a sweet partially finished basement where I can put my Man Cave.
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                          • Fresh Tendrils
                            Strike Hard and Fade Away
                            • Jul 2002
                            • 36131

                            #733
                            Re: For all of you guys who are homeowners or newly owned

                            What kind of 100% loans do you guys feel are the best?

                            RD/FHA plus both have PMI for, essentially, the life of the loan which really irks the hell out of me since I have exceptional credit. 5 year ARM looks appealing to me, but not my other half because of the uncertainty of adjustable rates in 5 years. To me, I feel like we can get more "bang" for our buck with an ARM since we're not on the hook for PMI (which to me is basically just throwing money away).



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                            • 23
                              yellow
                              • Sep 2002
                              • 66469

                              #734
                              Re: For all of you guys who are homeowners or newly owned

                              So FHA now requires PMI for the life of the loan?

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                              • Fresh Tendrils
                                Strike Hard and Fade Away
                                • Jul 2002
                                • 36131

                                #735
                                Re: For all of you guys who are homeowners or newly owned

                                According to the loan officer we talked to an hour ago. RD goes off eventually, but she said it was at around 70-75% equity. FHA apparently used to be the same.



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