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In article <MPG.1fe0b1cde390f9b6989db8@xxxxxxxxxxxxxxxxxxx>,
krw <krw@xxxxxxxxxx> wrote:
>In article <el6i2m$8qk_001@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>,
>jmfbahciv@xxxxxxx says...
>> In article <9857e$45761fc1$4fe7071$17377@xxxxxxxxxxxxx>,
>> unsettled <unsettled@xxxxxxxxxxxx> wrote:
>> >Lloyd Parker wrote:
>> <snip>
>>
>> >>>>You can be cash poor after buying a house though
>> >>>>and finding all the things that urgently need doing to make it
>> >>>>habitable.
>> >
>> >>>sure. But you aren't poor and all your "rent" is going into
>> >>>your real estate pocket. I didn't buy a house until I was
>> >>>told my rent was going up. So I went out and bought a house
>> >>>where the monthly payments were less than my current rent.
>> >
>> >> I betr you saved up for a down payment though.
>> >
>> >It doesn't sound like she did.
>
>The down payment on my first house was in three digits. The total
>closing costs, including tax escrow, was less than $5k.
>>
>> I simply don't remember. All I remembeer is that were
>> a lot of checks moving back and forth over that table. :-)
>>
>> > It doesn't sound as though
>> >buying a house was in her plans.
>>
>> It wasn't. I only bought it because the rent was cheaper.
>> I was more interested in getting my work done.
>
>We did the same calculation. The apartment we were living in was
>going condo. The red-herring price for our unit was $65K, plus
>$250/mo. commons fees. We bought our house for $60K. Even at a
>14.5% interest rate we broke even on the rent (with normal
>increases) within a year.
I bought just before the intersest rates went insane.
> A couple of years later we refinanced
>down to 10% then to 8%, saving a *lot* of money.
I also made sure that I had a loan that could be paid off early
without penalty.
>>
>> > I can say for a fact I didn't.
>> >I got into my first house ($50K) with $1K of my own. Let's
>> >just say that the seller and the realtor were both very
>> >motivated.
>>
>> I was very used to moving every semester from being in college.
>> I had no "settling down" genes like the rest of my family.
>> I still don't have curtains up on the windows :-). I've
>> just recently started "decorating" the inside of the house.
>
>It must be exciting in your neighborhood. ;-)
They can't see the inside. I'm painting everything shiny white
so I can see again. I'm almost to the point where I can put
up JMF's blowup picture of the KI with a VT05 running SYSDPY
in my junk room. But first, I have to wait until the dead body stops
stinking.
>
>I'm "redecorating" the entire house too, in preparation to split.
I don't know how you can manage that. I suspect whoever gets my
house will just raze it and build something that isn't holey.
Fieldstone foundations suck.
/BAH
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