NOVA/DC/MD - Z's & Coffee, Saturdays at 10AM in [WHERE?!], VA & Columbia, MD

b1adesofcha0s · 03-13-2013, 02:06 PM

Quote:

Originally Posted by MightyBobo

Why on earth do you need a $500K house anyway? lol

Also, my fee Im counting is the escrow in hole: mortgage, plus taxes. If you're talking JUST the mortgage and not including taxes, that number only gets people interested in buying the house. You need to add like, another 30% onto a mortgage payment to get the REAL payment lol. Depending on how much property you have, of course.

Well I'd like to get a nice sized house now so that I don't have to get a bigger one when I start a family in a couple years. Trying to get one of the new houses they are building around the Severn area. Will probably end up in the $400-500k range in the end.

m4a1mustang · 03-13-2013, 02:08 PM

Quote:

Originally Posted by b1adesofcha0s

Well I'd like to get a nice sized house now so that I don't have to get a bigger one when I start a family in a couple years. Trying to get one of the new houses they are building around the Severn area. Will probably end up in the $400-500k range in the end.

Dana wanted to get a huge house initially so she wouldn't have to go through moving again. I said that's silly and that we should just get what will work for us for the next ~10 years or so then expand when we need to.

The key about a mortgage is not to get yourself underwater. You don't want to be tied down.

b1adesofcha0s · 03-13-2013, 02:13 PM

Quote:

Originally Posted by m4a1mustang

Dana wanted to get a huge house initially so she wouldn't have to go through moving again. I said that's silly and that we should just get what will work for us for the next ~10 years or so then expand when we need to.

The key about a mortgage is not to get yourself underwater. You don't want to be tied down.

Yeah I'm definitely gonna look at everything carefully before buying. Definitely not going to buy a house I can't afford. I'll have 5 people living in the house, so I'll need something decent sized.

aniceh · 03-13-2013, 02:46 PM

Quote:

Originally Posted by m4a1mustang

Dana wanted to get a huge house initially so she wouldn't have to go through moving again. I said that's silly and that we should just get what will work for us for the next ~10 years or so then expand when we need to.

The key about a mortgage is not to get yourself underwater. You don't want to be tied down.

As much as I hate moving, I have to agree with Steve here. Your lifestyle is likely to change dramatically over the next 10 years. Get something that's big enough for what you know is in the pipeline now, and worry about trading up later. That's pretty much what I've done. My home is modest but comfortable, and living well within my means has given me the luxury of saving up money so now I'm ready to step up to something a little better.

XwChriswX · 03-13-2013, 02:52 PM

Quote:

Originally Posted by aniceh

As much as I hate moving, I have to agree with Steve here. Your lifestyle is likely to change dramatically over the next 10 years. Get something that's big enough for what you know is in the pipeline now, and worry about trading up later. That's pretty much what I've done. My home is modest but comfortable, and living well within my means has given me the luxury of saving up money so now I'm ready to step up to something a little better.

Yep, totally skimping... Your house needs a hot tub.

aniceh · 03-13-2013, 02:58 PM

Quote:

Originally Posted by XwChriswX

Yep, totally skimping... Your house needs a hot tub.

MightyBobo · 03-13-2013, 02:11 PM

Quote:

Originally Posted by b1adesofcha0s

Well I'd like to get a nice sized house now so that I don't have to get a bigger one when I start a family in a couple years. Trying to get one of the new houses they are building around the Severn area. Will probably end up in the $400-500k range in the end.

So dont buy new. Josh just picked up a GREAT house for like, 2/3rds of that money.

Buying new for you is NOT the logical choice at that price range...

b1adesofcha0s · 03-13-2013, 02:15 PM

Quote:

Originally Posted by MightyBobo

So dont buy new. Josh just picked up a GREAT house for like, 2/3rds of that money.

Buying new for you is NOT the logical choice at that price range...

Still like a year to go before I start looking seriously so I'll just have to wait and see what the situation is like then.

MightyBobo · 03-13-2013, 02:16 PM

Quote:

Originally Posted by b1adesofcha0s

Still like a year to go before I start looking seriously so I'll just have to wait and see what the situation is like then.

And by then, rates will be higher and housing prices, even higher.

b1adesofcha0s · 03-13-2013, 02:21 PM

Quote:

Originally Posted by MightyBobo

And by then, rates will be higher and housing prices, even higher.

Exactly. I will just have to wait and see what the market is like early next year.

MightyBobo · 03-13-2013, 02:22 PM

Quote:

Originally Posted by b1adesofcha0s

Exactly. I will just have to wait and see what the market is like early next year.

Yarp. Im not saying you to buy now, sorry if it sounded like that.

Just saying, be prepared for the same house today for $500k may be $550k next year, and rates almost certainly will be higher is all.

b1adesofcha0s · 03-13-2013, 02:27 PM

Quote:

Originally Posted by MightyBobo

Yarp. Im not saying you to buy now, sorry if it sounded like that.

Just saying, be prepared for the same house today for $500k may be $550k next year, and rates almost certainly will be higher is all.

Yeah I understood what you meant. I'm just trying to get a feel for what kind of houses I can get for my price range in the area. I've only looked at new houses so far, but I should probably look at some older ones as well. Idk why, but I really want a new house. Feel like I would have to worry less about repairs and I would be able to customize it a bit to my liking. Also, all the new houses in this area look freaking amazing

m4a1mustang · 03-13-2013, 02:25 PM

Quote:

Originally Posted by MightyBobo

And by then, rates will be higher and housing prices, even higher.

I remember the last time everybody thought the same thing.

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