944Fest (aka Dan P)

Congrats on getting your own chunk of land. I can't fathom paying rent, as a matter of fact I'm a landlord. I have 3 small homes that the renters have paid off for me. With today's great interest rate and appreciation it's silly not to buy. Sure, it takes a big comittment but the rewards are HUGE. Yea, there are some headaches dealing with bad tennants and repair issues, but the income far outweighs the bad. It was these timely investments (15 yrs ago) that allow me to have my Pcar and put on events such as the Fest. I've seen some crazy property value variances. Mansfield, OH you can live like a king for cheap, yet here near Cleveland in suburbia it costs 2x what it was down there. I shudder to think what you NY and CA folks have to pay!! Anyway, good job buying, it will (probably) be the best investment you ever make!

BeerBurner

Can I consider myself a landlord? My roommates are paying for my house...

BB.

Tony@GKF

Obviously homes always appreciate in value. Best thing would be to get a 5/1 ARM or similar low rate program, set-up a bank account for the money you'll be saving and in 5 years down the road as you gain more equity, sell the house and buy "something bigger".

944Fest: Awesome! That's exactly what I'm planning on doing in a couple years. A lot of people in the Bay Area making a living this way!

SidViscous

Hey thanks all. Though a bit envious of the guy on the intercoastal in Ft Laurderdale. Happy to hear that taxes are worse elsewhere as well. NH is known for high taxes in this area. Though Hudson is a little less because there isn't anything in the town.

Condo fees are $150 which isn't bad. All together it's going to cost me $1,275 a month.

Kitchen needs to be re-done, and I'm not sure what to do with the basement other than storage. Also have to re-do the bathroom eventually. Nothing in real bad shape, just oldish. Can't figure out why they put a window in the shower.

As to the local pub. Giving that up is gonna hurt. There is absolutely nothing in walking distance from the new place. Means I'll have to fire up the Kegerator with the Guinness. Also means I'll have even less social contact then I do now.


Biggest reason to move (other than getting rid of rent) was noise. I live right off a really busy road and it's always been noisy. Lately sirens (poice and fire) have gotten completely out of control. Way worse then when I lived in South Boston and Dorchester. So it will be nice to get some peace and quiet.

That and having a deck so I can grill.

marky522

Congradulations on the purchase, My wife and I bought our house at the beginning of this year, I had never rented, and never wantede to so at 19(me) 20(wife) we bought our house with an acre of land. Cant believe the bank gave us 60K with almost no credit history cept a store credit card a 2 cell phones Good luck, i just got back from Lowes, it will become your favorite store...

Mark