||[May. 6th, 2002|04:47 pm]
Went with my mom to our credit union... figured out how much money I can borrow. The whole process is incredibly easy. I expected it to be painful. Low interest, too.
Then went looking at houses (she loves looking at houses). I expected the houses in my price range to be pretty ghetto (thinking that houses are just intrinsically expensive to begin with, and if they're not, they must be ghetto), but the ones I saw were all pretty cool.
I'm more excited about this all now, and even more sure I want to do the house thing instead of an apartment. My previous reason for perhaps perferring an apartment was I could get a really cool one, instead of making even higher payments for a ghetto house. But since the houses aren't ghetto, I see no advantage whatsoever to getting an apartment.
After that I've been back and working. Getting a lot done, but my inbox is still piling up. Need to deal with that. Haven't really got it down under 75 since I got back from Germany. Always more interesting things to do.
What parts of town are you looking in?
2002-05-06 05:33 pm (UTC)
Not sure yet.
well, when i graduated i was faced with that same decision. the only drawback is that a house ties you more to a location than what an apt does. there is more "upkeep" but it isnt bad at all. you have a lot more freedom, and can do whatever you please to whatever you want.
it is also a much better idea considering your money is actually going towards something. property (real estate) will almost always be a good investment.
the best word of advice i can give you for house hunting is this... "do not buy the best house on the block... buy the lower end, or middle house that has potential.. and fix it up. your return on investment will be much higher, and your house will appreciate much more." or something like that. it is very good advice... more work.. but great advice.
99% of the time, the house won't be exactly what you want anyway, and you will end up changing things to make it more.. "you". it will take you several months before you figure all that out once you live there. :)
anyway.. hope that helps.
2002-05-06 06:24 pm (UTC)
It's good hearing all this positive encouragment.... thanks.
i just got this permanent account for this community lj_deutsch and wanted to transfer my free status to bradfitz? how do i go about that?
2002-05-06 08:28 pm (UTC)
Go to the Admin Console and issue the command donate freetime from lj_deutsch to bradfitz.
You are smart to get into a house as soon as you can. Apartments are ok, but you are basically just throwing your money away if you stay in one too long. With a house, although there is more to take care of, you are investing your money. It's a buyer's market right now too. Good time to go in.
Dann können ja Tony und ich dich mal besuchen kommen... :o)
Und dann gibt es Tee und Spaghetti!! :o)
2002-05-06 11:31 pm (UTC)
Ich würde freie Zimmer haben!
Schön...vielleicht werde ich dann mal auf dein Angebot zurückgreifen!! Würde ja so gerne mal fliegen - bin ich noch nie! :o)
2002-05-07 01:38 am (UTC)
A couple of notes:
1) Use a mortgage broker. The bank is probably not the best deal, and credit unions are normally the worst (great for autoloans though)
2) Look for water damage.
3) Put down 20-25% so that you don't have to pay mortgage insurance (its a scam, and its a scam that costs you money and is not tax deductible).
4) Don't fall in love with a house to the point that you offer too much money for it
5) Look at the neighborhood and see where it is going (are the houses run down?)
The tax break for a house is pretty damn incredible.
2002-05-07 08:27 am (UTC)
And when he's talking about water damage...
...check if it is in a flood plain or not, too. Water damage could both be from a leaky roof or from an unfortunate locale on the flood plain.
Also check the electrical outlets if they are two prong or three prong and the convenience of their locations. If it is an old enough house, it might not have any three prong. A minor inconvenience, to be sure, but with your love of electronic schtick, it could be annoying.
I'm so jealous. I want a house. ;-p
check out the latest Maxim for an article on buying a house.
2002-05-09 05:53 am (UTC)
Not KiMiE, but her husband
What is your desired price range, and what type of setting are you looking to live in (country, city, suburbs, isolated)?