i have talked too 3 banks now and have been pre-approved on all loans, ins, etc.

I want to buy a house, but with the way the market is at the moment i believe that i would be better of too buy a unit as it is going to increase in value alot quicker. The down side is i wont be able to work on my truck there.

I just want some insight as to what people bought and why.

NICK

Well when I bought my house :shaking: i paid 185 for a 1900 sqr ft home. It is now worth up over 225 and I bought it about a year and half ago. You can always use the equity in your house to work on your truck plus if the market goes up you will still enf up buying a house but just paying more. My .02 good luck either way.

Originally posted by NIC
i have talked too 3 banks now and have been pre-approved on all loans, ins, etc.

I want to buy a house, but with the way the market is at the moment i believe that i would be better of too buy a unit as it is going to increase in value alot quicker. The down side is i wont be able to work on my truck there.

I just want some insight as to what people bought and why.

NICK
I chose my place for the schools in the area. When my wife and I decided to move from Denver to Phoenix, that was one of the biggest reasons for this location. At the time I didnt have my Scout and chose to move into a HOA community to keep my property value up. Most places that dont have an HOA are dumps in this city, but occasionally you can find a good neighborhood. If I had to do it over, I would stay in the same school district and get a place in the sticks, so I could work on my junk at home instead of having to drive 40 miles across town to my friends house...who doesnt have an HOA...who lives in a dumpy 'hood :rolleyes:

Might as well buy all the house you can afford. It'll be a long time before money is this cheap again.

Originally posted by nakona
Might as well buy all the house you can afford. It'll be a long time before money is this cheap again.


kind of irralivant for me, im more looking at how people have found living in a unit/complex over a house. In the future buying a second property etc.


NICK

DO NOT! I repeat DO NOT!!!!!!!!! Sell your rig to do it :( You will regret it cause in the long run you will realize you didnt have to after all :(

keith, never planned on it. I did plan on getting a place with a big garage so i can have a work shop and stop doing mods in the drive way although a house is looking more and more out of my league.

NICK

My plan was to buy a unit, close to beach, shops, schools etc for around 150,000 pay of approximately half in 5 years owing 75,000. The way the property market is going at the moment the unit "should be" worth around 250-300 by that time. I was planning to split the loan and buy a house on equity as someone mentioned above and buy this time i will be in my mid 20's and looking more to settle down, but who knows what will happen between now and then.

NICK

You know I felt the same way, but you gotta just do it :laughing: I dont know how the market is there, but I have made ONE payment on my house so far and already made 18k in equity :D I will struggle a little (not so many dinners out, no atlas', etc) for 2 years and then I am gonna refinance and pay off every bill I have including both cars....then its AWN ;)

It isnt so much that you will struggle it is more you will have to wait for the things you want. My truck is almost at the point where i want and like you say the atlas will have to wait, i have afew things to wait for too. I own my truck and have no other or outstanding debt, i have just finished paying of 20 grand worth of credit card bills and the like and never want to be in that situation again. I did pay them off in a short period off time, and that taught me to save alot and that is where i got most of the deposit too buy from, here you need 5% and a good steady income. I also think that it is better and makes you happier as a person to know that you are paying for your own place as all the hard work is paying off.

NICK