New Large Purchase

Well I had planned on getting something faster than the Mustang I once owned for a while, and it looks like I can keep planning that for a while. I have entered the world of perpetual indebtedness and purchased a house. I figured since I am going to be in VA Beach for a while I may as well buy rather than pay somebody else's mortgage. I may still have my chance to get something sportier, but for now things are looking pretty bleak for the immediate future.

Congrats on a house....do you feel like an old man? :lol:

Congrats on the purchase. Just curious, how old are you?

I'm probably going to purchase a house in about 2-3 years.

Congradulations!!!

I purchased my first house about a year and a half ago and it was the best move ever. I paid out rent for over 12 years. Lots of wasted money but thats life.

I hope you got a fixed rate because I see countless people having to sell or foreclose because there payment went up and up for the first couple years till it was unaffordable...Predatorial Lending is what its called. People get very excited to get a house they dont see the bigger picture. They are led to believe they will be making more in a couple years....

Well to answer the first question I do kind of feel like an old man. I am only 23 so I figured I could start early. I did get a fixed rate, I have heard all the same horror stories. Hey my aspirations of getting another hobby car are not gone.

Congrats on the house.

I personally hope to get a house soon after I graduate so I can have a nice garage too keep my tools tidy and have room for more tools (if i can afford them after the house)

NICE! Nothing better then owing your own place.

Byuying a house is great. I just have too much debt to be able to buy one so I have to pay the rent monkey for a few more years, then HELLO CUSTOM BUILT HOME!

NICE! Nothing better then owing your own place.

Byuying a house is great. I just have too much debt to be able to buy one so I have to pay the rent monkey for a few more years, then HELLO CUSTOM BUILT HOME!

Is that related to the Trunk Monkey?:lol:

Nope! If it was the trunk money the monkey would give me money instead of taking it! oh and maby even a doughnut!

http://www.youtube.com/watch?v=JutCjbmcq7s

Yeah that damn monkey has already taken about 40000 from me.

Yeah that damn monkey has already taken about 40000 from me.


Is that all you spent on your house??? :eek7:


Where do you live again?

that monkey hasnt done a damn thing for me, i already lost my lisnece(i get it back july 9th!!!!!). i've paid around 1000 in tickets, the non-point carriers are worse, u get em, u pay em, but you get another one in two or three months, when you're young.
i have found however that driving a more mature car(one kids are seen drving all the time, like my neon) the less you are to speed or get pulled over

Is that all you spent on your house??? :eek7:


Where do you live again?


I was referring to the rent monkey, over the last 3 or so years thats a guess at what I have paid. The house was 175000 and I am in VA Beach.

175k ain't bad at all, that's super cheap in California terms.

You can't touch a house for less than 300k here. And if there is one with a cheap price it's probably about to fall down.... or it has Pink Eye.

Yeah 175 is about as cheap as you are going to get around here anymore without it being a complete pos.

that's cheap as hell in jersey terms, we have believe it or not on average the most expensive houses in the country, we are also the most heavily taxed.
the average house costs 650k(that was taken in 2000). pennsy is very good in comparison, tho one acre cost $1million(puts pinky to corner of mouth) in the pocono area

That depends on the region in New Jersey, and what part of the Poconos (PA anyway) you are talking about. I know down at Ocean City NJ those houses are worth quite a bit, and in PA I had a friend buy about 10 acres 10000 up in the mountains a few years back.

Well, I guess I am lucky to be living in highest foreclosure rate in the country Ohio. I got my house for 125 with a little over 1/2 acre. This house is in an established small nieborhood that has mostly retired people living here. Very cozy and full of trees. I was fortunate enough to be able to drop 25k on it and only have to finance 100k. Can you say house payment only $760. Thats what I have been paying in rent for the most part for ove r10 years. What a waste but its how it is.....

I am an Electrician and the word is to be ready for a huge increase in multi-family dwellings because the cost of property is getting out of hand at a crazy rate...

I say get your houses while your young it makes life alot easier. Plus then you have a place to work on your cars......

congrats on your house. I wish I own a house now too, but houses here cost around $1 million. But I'm always a apartment dweller, and I perfer to pay someone else to do my maintainance.

But your definitly living the American dream.

nice move buddy.. not to be to nosy, and you dont have to answer, but whats it like? how many rooms and bath does it have? how many levels?
pics maybe?...maybe not?

No problem, its one story, 3 bedroom 2 full bathroom. Its the end unit of a town townhouse. I will get some pics up here soon.

average for jersey is 650k, that means all the houses in new jersey were added up, then divided by the amount of them, and that the average. yes where i live is much cheaper than bergan county, but an average is for the entire state. tho i must say, we do have a lot of expensive homes here by me.
congrats on the buy if i didnt already say so

The way things are in Miami, i wont own a house probably till I move to another county, houses here are way out of price, my house is worth over 400k and my dad's duplex is worth over 600k doesnt mean anyone can sell it at that price so it's really bad here.

but grats on the house.

Yeah Miami is pretty pricey. I don't think I would be able to afford a mortgage there.

Wow we got a pretty nice place in central new jersey for like $220k. That was 5 years ago.

220k is about 100k less than a home by me, and about half a mil or more less than home's near nyc

I think our current house was around 250 in FL. Man how will I be able to live up north with those prices lol.

Congrats on the house! I just bought a house. I was planning on mortgaging at 35 but did it a couple years early. It's nothing spectacular but it's home and I love it... 3bd, 2ba ranch, with hardwood floors, woods behind house with trails (may get a dirt bike ;-), 2 car garage, new roof, fireplace... and probably all for a fifth the price of those NJ houses...haha. There are very loose zoning laws near where I live so in some areas there are multi-million dollar estates over-looking mountain-scapes and then across the highway there may be a trailer with old junker cars placed here and there along the property (less grass to cut)... :lol:

fricken ranches are the most expensive(well sprawling) in new jersey.
there was one advertised by me for 189g, the first thing that came to mind, what flood zone is it in?

my parents paid 50g for the land and house back in 1978, it was just assesed, but i'm not privi'd to that info. i know it's more than 300g, all it is is a 3br, 2bath split level about 1800sq ft. but the biggest thing is the land, 1.25acres, around here it would cost upwards of 350g-400 to build the house one that much land.

in fact the "migration" of people to the county i'm in caused the state to pass a law stating that all towns have to put aside a certain amount of land that cannot be devloped. the ton i'm in got screwed, no more houses.

Congrats on buying the house! I hope I get to buy one soon.