Guest $iLk Posted August 22, 2002 Report Posted August 22, 2002 Yesterday I closed on a new home for me and my family... never wrote a check that big before ($3500). i still have to pay back about $43000 + some interest.. *shudder* Anyways, I got the interest at 6.35% so that wasn't too bad. My payments are gonna be around $370 a month (including insurance, taxes) on a 30 year mortgage, but am not gonna let it take me that long to pay off. I've been working at a Land Title company that pays pretty well, so was able to afford this. I'm not even 21 years old yet and I have a wife, two children, am settling in on a new house.... I feel old. Anyways, I'll probably be without internet for a little bit, but should have it back soon enough. It's thanks to Capitalism that I am able to be moving into a new home, and it's thanks to Socialism that the taxes and such are so high... 'Work harder, millions on welfare depend on you!' Anyways, hope to be back ASAP.
Commander Jamont Posted August 22, 2002 Report Posted August 22, 2002 21?? My god you got it fixed good.. Im 21 now , but i need to party a lot until i seddle down Congrats m8
Supreme Cmdr Posted August 22, 2002 Report Posted August 22, 2002 Congrats $ilk!! You've, uhm, taken several major steps into becoming an adult.
Guest Grayfox Posted August 22, 2002 Report Posted August 22, 2002 indeed. it took me until i was 26 to get my own house. 22 when i had my kid. but i can thankfully say that my warden (exwife) doesnt watch over me anymore good job silk. and good luck
Guest $iLk Posted August 22, 2002 Report Posted August 22, 2002 I've always been one to get things out of the way, so hopefully I'll be retiring in a few years too...
Gordon Posted August 22, 2002 Report Posted August 22, 2002 First off $ilk congrats. Nothing more rewarding than owning your own house. Did I read your original post right, that the house cost you 46,500. Since I live in New York I'm not used to prices like that. If so consider yourself lucky, my fist house cost me 126k with 25k down and my present home cost 227k with 45k down . My current taxes are 8k a year, so all in all you made out quite well. Now the fun begins for you. Your wife will now tell you that since we have this new house she will need new furniture to put in it and so on and so on. Again, congrats and enjoy your new investment. [ 08-22-2002, 12:34 PM: Message edited by: Gordon ]
Guest $iLk Posted August 22, 2002 Report Posted August 22, 2002 Houses here in Alabama (Even close to the beach where this is) are relatively cheap. Land however is skyrocketing out of sight. A small 1/4 acre lot can cost $20,000 or more. And there is a new Beach Highway that they put in down here that my boss bought enough for a driveway to his home so he could have highway access to his driveway, cost him over $100,000 just for the land necessary to build a driveway to the highway. I won't even go into condominiums and such... where I work I see the prices people pay for everything. Is the minimum wage higher up there? I'm doing moderately better than minimum wage, but still not high enough to be considered standard office wages here. Our minimum here is $5.15. This area is growing fast, and people are becoming rich just from selling land after holding it for 5 years.
Gordon Posted August 22, 2002 Report Posted August 22, 2002 Hi $ilk Minimum wage for this area is the same, this is set by the Federal Government so it's the same across the US. It is almost impossible for anyone making minimum wages to afford purchasing a home in my area. Houses and land have also skyrocketed where I live, in some areas you can't even find a piece of land to build on. It's easy to understand why people are buying land in your area, it's still reasonably priced compared to other areas. Land is currently going for 250k an acre and above here in New York. IMO buying land and/or a home is still the safest investment you can make, it will appreciate in value over time. My wife and I were interested in buying a summer home on the Jersey shore, the same houses that were being sold for 100k two years ago are now selling for over 350k, needless to say it's a little too expensive for my taste. So it sounds like you got a great deal for your money and you could expect to make a good profit if you decide to sell it in a few years. Best of luck and now go out and buy that furniture that your wife wants. [ 08-22-2002, 02:47 PM: Message edited by: Gordon ]
Guest Grayfox Posted August 22, 2002 Report Posted August 22, 2002 wow 20,000 for a 1/2 acre?? thats cheap as hell. my house alone is worth 120k and its only a small 4 bedroom... thankfully i will be moving soon probably to ill. so my son and i can be closer to my father... mmmm cubbie games rule
Guest $iLk Posted August 22, 2002 Report Posted August 22, 2002 Over in Mississippi land was about $1000 an acre. Unfortunately the nearest person who could operate a mouse and keyboard was 45 minutes away...
Soback Posted August 22, 2002 Report Posted August 22, 2002 I don't think minimum wage is the same around the country. Here in CA it's $6.75, but you still can't buy anything, you can't even rent a studio appartment at that wage. Well, $ilk, you are surely on the fast track. Congradulations and hope it works out for you. A wife, kids and a house. Now start saving for that Harley .
echo Posted August 23, 2002 Report Posted August 23, 2002 Congrats!!!! Best wishes to you and your family. I am proud of you for being what appears to be a good provider , husband and father. (who know's you could really be a jerk...hahaha just kidding) I live in Mass and I don't even think you can buy land for 40,000.00 around here. Isn' it weird how differnt states are soo different.
Gordon Posted August 23, 2002 Report Posted August 23, 2002 quote:Originally posted by Soback I don't think minimum wage is the same around the country. Here in CA it's $6.75 Your right Soback Federal minimum wage is $5.15 an hour but the State can offer a higher minimum wage if they deem it necessary. Forgot about that.
GREG MILLER Posted August 23, 2002 Report Posted August 23, 2002 Congrats on the new dwellings $ilk, you've earned it.
Kevin Trotter Posted August 23, 2002 Report Posted August 23, 2002 $ilk unless you are handy with the tools , find the best looking best maintained house in your subdivision and make nice with the owner. Then ask him or her what contactors they use for repair and renovation. I know this seems really simple and I know you are a smart guy but it is sometimes overlooked. DO NOT HIRE ANYONE BEFORE SEING AT LEAST FOUR ESTIMATES AND ALWAYS< ALWAYS ASK FOR NEIGHBORHOOD REFERENCES. I didnt do this and had to have my roof repaired twice!! the first guy,a friend of a friend, screwed it up and had my new roof colapse in my guest bathroom three days before Christmas . Total cost of both jobs $4700.00 Merry F'in Christmas. I know this sounds like a no brainer but you'd be srprised how easy it is to forget
Epsilon 5 Posted August 26, 2002 Report Posted August 26, 2002 Eh, nice, not a year older than me, but yet I feel you're about 5 years older than me
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