My house near the suburb of Atlanta known as Tucker, GA is about twice that size and cost about twice as much as the one PinTA posted, not LL's impossibly cheap one out in Bat Country. Seems reasonable-ish (our home values have not rebounded completely from the fiasco of 2007). Around here, price is heavily dependent on location, i.e. How far out of town is the house? Which is why we have a comfortable sized house just outside the perimeter rather than a much smaller and crappier house in Midtown.
An added bonus? Our house is 100% ours, no mortgage. If we had spent what the bank told us we could afford, we would still have about 20 years of payments ahead.
Last Edit: Aug 29, 2015 12:06:14 GMT -5 by fermicat
Imagine I thought of something witty and wrote it here.
I could get something farther out of town for less, but since I have my mother living with me I want something closer to, well, everything. If I moved an hour away I could probably get something for 90. Also, I didn't offer 125. And this is on the low side of housing prices. I looked at a house about a mile away from the one I linked and it's in a neighborhood where houses go for 170-200k. Hers was listed at 125 because of the damage on the inside. (There was a leak in the upstairs bath that caused the kitchen ceiling to fall and she hadn't fixed it.) I would have loved to have that house, which is 1232 square feet, if I had the money to fix the kitchen. But I'd also have to add a chair lift and redo the upstairs bathroom because it's completely unsuitable for my mother to use. (I also would have put a offer in for her dog. He ran out of the house and right up to me. I don't think her dog liked her very much...)
Last Edit: Aug 29, 2015 16:46:47 GMT -5 by NYPinTA
So, made an offer on the cute house. I have no idea what I'm doing. I didn't even know I had to bring a deposit just to put in an offer. I had to drive back home and get my checkbook. Then there are the inspections and if all of that is ok the moving out and in plus the time and like an idiot I decided to start looking in the middle of several weekend trips which I probably shouldn't have scheduled. It's like I wanted to make sure I didn't have the money to do the incidentals! I loved the house, I want a house, but a tiny part is hoping someone else makes a better offer so I can get more ducks in a row now that I know about them. (This is my fault really. I should have asked about this all previously and I should have refrained from any trips this year. But instead I decided to go on all of them. Toronto in May, Shoreleave last month, Toronto again this month, NYC next month...)
Nothing since I just got an email from the broker who told me what I was pre-qualified for and according to him the payments I would be making are about 400 dollars more than what I thought so there is no way in hell I can afford the house. I was using online calculators that gave monthly payments if you took out a conventional loan. He's using FHA loan figures. In order for me to get a conventional loan I need more money down. I don't have that. So, looks like I'll be renting for a while longer. And I need to start looking outside the city. (Not that outside city limits are a guarantee of less expensive...) I just need to come up with a new plan.
What I don't get is how the broker could look at all the financial information I sent him including paystubs and W2s and think I could afford the monthly payment he quoted. Do they ignore all the money that comes out of your paycheck for taxes and social security and insurance and 401k? I don't take home all the money I make. NO one does.
This should be in the "Stuff that Sucks" thread now. Sorry it didn't work out. One positive thing I learned while house hunting though - there's always another house.
Definitely check father out of town. If we were willing to add another half hour to our commute, we could have had a lot more house for the same money. Our location was a tradeoff between house size/price and how long we'd have to spend in the car every work day.
Imagine I thought of something witty and wrote it here.
Post by Lord Loser on Aug 31, 2015 14:06:20 GMT -5
Brokers aren't looking out for you, they're looking out for them. Their commission is based on the price of a sell, not your payments. They'll try to upsell you anytime they can regardless of whether you can actually afford it.
Banks don't care either, they'll bleed you for as much as they can, then foreclose, short sell the house and come after you for the difference.
Best case scenario... find out if the seller is willing to carry you for the term of the sale. It's guaranteed monthly income for them and if you don't make the payments, they can take the house back and try to sell it again. You'll just have to convince them that you won't wreck the place once you're in.
Lord Loser: I see you found a new shoutbox...
Nov 25, 2019 14:44:31 GMT -5
ctheokas: What the fork is this!?!
Nov 25, 2019 15:10:54 GMT -5
Lord Loser: There's no need to shout... erm... waitaminute...
Nov 25, 2019 15:59:41 GMT -5
NYPinTA: I forget why I shut it off previously.
Nov 25, 2019 17:45:29 GMT -5
Lord Loser: IIRC... there was an upgrade, new board didn't have it..
Nov 25, 2019 19:29:27 GMT -5
NYPinTA: I think it was me who turned it off. Were the spambots getting to it? Because it's just a box I check off on the forums setting page.
Nov 27, 2019 10:06:06 GMT -5
NYPinTA: I know I had it on trying to get all the people who used to chat on Shield.TV (which is gone) and Whedonesque (which is shut down) but had no real way of getting their attention.
Nov 27, 2019 10:07:01 GMT -5
ctheokas: Happy Thanksgiving, you weirdos.
Nov 28, 2019 11:02:19 GMT -5
NYPinTA: Happy Small Business Saturday. ;P
Nov 30, 2019 13:47:30 GMT -5
ctheokas: WHY ISN'T ANYONE SHOUTING ON THIS THING!?!
Dec 21, 2019 9:14:11 GMT -5
Lord Loser: Have a good one ya bunch of weirdos...
Dec 24, 2019 19:38:04 GMT -5
NYPinTA: Happy New Year!
Jan 1, 2020 0:27:15 GMT -5