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Buying my first house!

Discussion in 'Off-Topic Discussion' started by sliverworm, Apr 27, 2009.

  1. Apr 27, 2009 at 10:34 AM
    #1
    sliverworm

    sliverworm [OP] Well-Known Member

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    So, I am taking the plunge and purchasing my first house. The biggest problem I had in deciding to do this was the money and cost since I would need to be able to afford this on my own.. after figuring I can only afford a sub 100k house w/ closing costs.. limited my searching alot! However after about a month of looking I found the perfect first house (not the one I wanted).

    Priced at 94.9k , its a 2story 1789sq ft house. Front masonary and the remaining sides is hardly plank. Priced 25k below market, and needs a little bit of work. I can boost the equity even more and turn around to sell in a few years for a bigger, better house. Maybe even my current girlfriend will be come much more then that and we can get a house together.. At either rate I am pretty excited and already have plans for the place.. including laminate floors and tile kitchen..
     
  2. Apr 27, 2009 at 10:38 AM
    #2
    KMN-BLU

    KMN-BLU less work/more play

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    Congrats on your first home. Its a great time to buy if you have a stable job.
     
  3. Apr 27, 2009 at 10:39 AM
    #3
    neslerrah

    neslerrah Taco lovin'

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    Congrats!
     
  4. Apr 27, 2009 at 11:06 AM
    #4
    goofyboy

    goofyboy Longhorn.

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    what part of Austin??
     
  5. Apr 27, 2009 at 11:26 AM
    #5
    mainland_newfie

    mainland_newfie Mainland Newfie

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    If your wondering if cost will be an issue with property taxes and house insurances do what I did, take in a roomate for the first year, it will help with unexpected costs
     
  6. Apr 27, 2009 at 11:47 AM
    #6
    blake1012

    blake1012 Go Braves!

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    Me and my wife (23 &22) just bought our house.

    Closed on the 24th. Moved in over this past weekend. It feels GREAT!!!!

    Congrats on the new place, and dont forget about that 8000 first time homebuyers credit either.
     
  7. Apr 27, 2009 at 11:49 AM
    #7
    sliverworm

    sliverworm [OP] Well-Known Member

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    South East, (not ghetto!) 78747.. very little crime.
     
  8. Apr 27, 2009 at 11:49 AM
    #8
    sliverworm

    sliverworm [OP] Well-Known Member

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    I have one lined up already, it will defiantly help
     
  9. Apr 27, 2009 at 11:50 AM
    #9
    sliverworm

    sliverworm [OP] Well-Known Member

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    yeah, I can't wait for the 8k return, I believe you might even be able to put in a fixed tax return and have the money this year. I will be turning 22 next month , so it feel pretty good.
     
  10. Apr 27, 2009 at 11:57 AM
    #10
    oldtacomaguy

    oldtacomaguy four forty four

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    Congratulations on our first house. A big, scary step. It will work out for you. Great job!
     
  11. Apr 27, 2009 at 12:22 PM
    #11
    T@co_Pr3runn3r

    T@co_Pr3runn3r XXXXXXXXXXXXXXXXXXX

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    Just did the the sell the old one/build a new one recently. Not our 1st so no 8000 for us but things went flawlessly. Got 4.75% interest rate, put down 33% of the whole cost so savings out the wazoo on lots of finance stuff, only paying note on unimproved lot rest of this year, cleared up a bunch of credit things last year before starting process so credit scores all good, sold other house in less than 2 days. Moving was fun but we're there & it's effin great! Hope everyone elses experiences were good ones too.
     
  12. Apr 27, 2009 at 2:08 PM
    #12
    sliverworm

    sliverworm [OP] Well-Known Member

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    I had 4.8% last I checked..
     
  13. Apr 27, 2009 at 2:33 PM
    #13
    tacomaman06

    tacomaman06 Carolina Alliance: Enforcer

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    getting there....
    sweet!! congrats man!!

    me and the wife put our condo on the market a couple of weeks ago...been looking for a house for a while now.....whatta pain in the ass!!
     
  14. Apr 27, 2009 at 2:46 PM
    #14
    bobwilson1977

    bobwilson1977 Well-Known Member

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    Well, as long as you can reasonably afford it, good job. But I wouldn't be buying just for the single purpose of buying and selling later for profit, at least not anytime soon. Typical conventional thoughts are that the market might turn around by 2015 or so, which in general isn't that bad since by then you would have been in the house for 5 years or so.

    Also- Austin seems to be growing pretty quick and there are a lot of people from other cities who think 100k is nothing. Just in comparison, where I live in the SF Bay Area of Cali, most homes in a decent area are still pushing 450-500k. Most people wouldn't dream of buying a house in their 20's, and even 30's for the most part. My Wife and I are in our early 30's and even after years of savings would really be putting ourselves out on a limb buying here even with the price reductions. But Austin? It'd be cake. In fact most anywhere else in the country sounds "cheap" to us.
     
  15. Apr 27, 2009 at 2:52 PM
    #15
    DanGer

    DanGer Avatar approved by 98tacomav6

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  16. Apr 27, 2009 at 3:24 PM
    #16
    sliverworm

    sliverworm [OP] Well-Known Member

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    [​IMG]
     
  17. Apr 27, 2009 at 3:32 PM
    #17
    bobwilson1977

    bobwilson1977 Well-Known Member

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    That's just insane. A house like that where I live now would be like $600,000.
     
  18. Apr 27, 2009 at 3:33 PM
    #18
    sliverworm

    sliverworm [OP] Well-Known Member

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    Just move to Austin, everything is bigger and better. Even the Tacomas :p
     
  19. Apr 27, 2009 at 5:16 PM
    #19
    surfsupl

    surfsupl Well-Known Member

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    Congrats on the new home ! I'm sure you have done it but read the small/fine print in all your documents! :)
     
  20. Apr 27, 2009 at 7:48 PM
    #20
    ZonKs

    ZonKs Can speak french in Russian.

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    =p
    Congrats and be very happy you live where you live. The only thing you can find to live in out here for under 100K is an outhouse. Starter homes out here are around 250K and up up up.

    edit: lucky man you have an ATT telephone pedestal in your front yard. You get to have the techs hanging out in front of your house a couple times a week. Do them a favor and wake them up from time to time.
     
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