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Thread: Saving for my first house has ruined my gun buying...

  1. #11
    Grandmaster jagee's Avatar

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    Bought my first house about 8 years ago for ~$60k. Painted the whole thing and replaced furnace and carpet before even moving in. Over time replaced roof, siding, gutters, screen doors. Just this year repainted the whole thing on the inside, painted cabinets and new hardware, new flooring in kitchen and dining, new deck(s)...just sold it for more than double my original purchase price.

    I bought a move in ready house a few months ago (that CM replaced the HVAC system in) for what I felt was a fair deal. I'm happy all around.
    Quote Originally Posted by KJQ6945 View Post
    Jagee makes Beetlejuice look like a *****!

  2. #12
    Grandmaster jd4320t's Avatar

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    Just take your time and wait for what you want. Keep saving. Paying rent is better than buying something you donít want and may be stuck with for a while.

    Watch or listen to Dave Ramsey for some good info and motivation.
    Busse Combat. Unchallenged. Unmatched. No regrets.

  3. #13
    Expert jkaetz's Avatar

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    While the housing market is a bit crazy, it is still not a bad investment. You will pay more to enter the market now, when you decide to sell you will most likely make a profit. Unless you sell outright, the market conditions after you have a house are mostly irrelevant. In a seller's market like now you could sell your house at a good price, but you'll of course spend more on a new house. In a buyer's market you will sell your house for less but also be able to get the new house for less. Interest rates are also in your favor right now being so low unless you plan to pay cash. Even if you can pay cash you could be better long term financing the house and investing the $$ at a rate higher than your mortgage.

    I bought my first house in 2006 and after the crash thought I'd be good to get out of it breaking even. When we sold it last year we actually made a profit and set the $/square foot mark in our old neighborhood. The couple that bought it came in over ask with no contingencies as they had been trying to get similar houses and had lost them all. Similarly our mortgage broker told us that anything under $350k was selling just about as quickly as you could put it on the market. There are of course exceptions and you'll have to find out what factors you must have vs want to have. For us, square footage, school district, and garage needs narrowed down our search pretty quickly. Like you our initial budget was bringing us to houses where we would be coming in and needing to renovate a kitchen or bathroom. We ended up increasing our budget significantly and that finally got us to something that we didn't feel the need to do major work on. You will be in a house for years to come and you will notice the things you compromise on. If you can find some land and a builder to build good luck. Unless you go completely custom you're still working with the same yahoos that put neighborhoods together and build the houses as quickly as possible. Nevermind that people want crazy sums of money for a plot of dirt too. Depending on where you are the home prices will have an impact on the neighbors you're surrounded with too. We noticed that our old house was in the lower range of prices and if you looked around the neighborhood as a whole you could easily see the less desirable elements creeping in.

  4. #14
    Grandmaster Tactically Fat's Avatar

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    I'll sell you my move-in ready ranch for $350k. Tons of updates / upgrades - including an awesome custom kitchen renovation + a bonus room addition w/ full bath. AND my house has an extra 1 bay garage at the back.

    A good kitchen reno can work its way to $25k very very easily, in a modest house, if it's a big space. Can absolutely do it cheaper if you buy pre-made cabinets.

    Balance out the costs of a move-in ready home with the cost of renovating a "yeah, we can live here while we work on it" house.


    A guy who has put a crap ton of money into his very modest Greenwood home.

  5. #15

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    With interest rates where they are, you need to get into something, if at all possible. We bought our home in '91 for $80K, with a 8.75% interest rate. We paid it off as fast as we could, and it's worth somewhere around 220. Property taxes are a big consideration. My taxes are around 2000, but the same house 10 miles north of me would probably be double that. Of course, the higher taxes are in areas considered more desirable, and probably easier to sell when the time comes. Condos might be an option for you to at least start investing in your own property. Best of luck with it.


  6. #16
    Expert russc2542's Avatar

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    Quote Originally Posted by HoughMade View Post
    Lucky for me that the only way I'm leaving my current house is feet first.

    But the house still cuts into my gun budget. Small example- I am currently renovating the front lawn. What I will have into weed killer, seed, fertilizer and equipment rental by winter would have bought the 1874 Pedersoli Sharps I've wanted for a while.

    ...but hey....grass.
    Lofty expectations there... green is green. or brown. ish. Hey, it's not dirt!

  7. #17
    Grandmaster HoughMade's Avatar

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    Quote Originally Posted by russc2542 View Post
    Lofty expectations there... green is green. or brown. ish. Hey, it's not dirt!
    I have already gotten rid of the clover (green) and crabgrass (usually green)...and am down real grass (keeping in mind my front yard is approximately 1.1 acres)...I'm not convinced this is worth it...but this wasn't my idea.
    ​Bullies suck. They also make you stronger.

  8. #18
    Marksman easy's Avatar

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    Shouldn't this discussion be in the 'First World Problems' thread?
    Some idiots are too busy knowing it all to ever learn anything

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