- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Crazy construction materials news I learned today
Posted on 3/1/21 at 11:24 pm to Eli Goldfinger
Posted on 3/1/21 at 11:24 pm to Eli Goldfinger
quote:
$20K down on a $200K house @30 years.
~$1,200/mo payment.
For the first 10 years, you will lose $800/mo on escrow & interest.
House updates, maintenance & repairs will probably avg $250/mo
Uhh, no. You’re not even close. 180,000 @30 yrs will run you about $700/mth. Interest will avg about 350 over 10. Starting at $400 and down to $300 at the start of the 11th year
If you wanna go 15 yr, you’re looking at <$1200 & interest avging $250
*assuming credit ain’t shite
This market is definitely crazy, but these interest rates more than make up for it if you financed back when 4ish was great
This post was edited on 3/1/21 at 11:27 pm
1
Posted on 3/1/21 at 11:28 pm to Schmelly
Wrong
$180K with escrow & mortgage ins will run you about $1200 depending on your property tax rate.
$180K with escrow & mortgage ins will run you about $1200 depending on your property tax rate.
Posted on 3/1/21 at 11:29 pm to Eli Goldfinger
quote:
$180K with escrow & mortgage ins will run you about $1200 depending on your property tax rate.
Those numbers seem waaaay off. What kind of property tax rate are you accounting for? APR?
Posted on 3/1/21 at 11:30 pm to Eli Goldfinger
$500/mth in escrow & prop taxes on a $180,000 house? Nah
Posted on 3/1/21 at 11:30 pm to HempHead
quote:
Those numbers seem waaaay off
It is
Posted on 3/1/21 at 11:34 pm to Schmelly
$180K @30yrs 3.5% is $817.
Mortgage ins + property tax + insurance = $250.
So ~$1100.
Sorry I was so far off
.
Mortgage ins + property tax + insurance = $250.
So ~$1100.
Sorry I was so far off
.Posted on 3/1/21 at 11:36 pm to Eli Goldfinger
Why escrow? Neither of my houses are escrowed, bought my second last year.
This post was edited on 3/1/21 at 11:37 pm
Posted on 3/1/21 at 11:37 pm to Eli Goldfinger
See, your problem is you using credik.
I’m using credit
I’m using credit
Posted on 3/1/21 at 11:39 pm to XxxSpooky1
Bro...escrow is how your tax & insurance get paid.
Posted on 3/1/21 at 11:48 pm to LouisianaLady
quote:
You’re telling me. We’ve been wanting to build in the next 2-3 years.
Our neighbors have owned the lot beside ours for 12 years and I saw him walking the property a couple of weeks ago and when I went out to greet him I found out they are planning to build in the next couple of months... I just shook my head. You may very well be fine though, these things are always cyclical.
Posted on 3/1/21 at 11:59 pm to Obtuse1
When they see the prices and availability, you might get a good deal on an adjacent lot.
Posted on 3/2/21 at 12:02 am to Obtuse1
I owe 180k on a mortgage I financed @4.25 in 2012. Home appraised for 325 when purchased. Homes around me currently going for $380-$400.
Bout to refi for 15 at 2.25. That keeps my note about the same as it is now & cuts 7 years off my note.
Kinda tossing around 3 options.
1. Refi, Sell, Buy
- at these 30 year rates & cash in hand, a $500k house keeps my note the same (talking just mortgage).
2. Refi, Sell, Rent & wait for the crash
- this would be ideal, if not for the PITA of renting a house that probably wouldn’t be ideal for a “wait and see” amount of time.
3. Refi, Stay & Be mortagage free in probably 10 years.
- seems like a wasted opportunity to leverage this market
If you have equity & a current mortgage that’s around 4 or higher, you got done options
Bout to refi for 15 at 2.25. That keeps my note about the same as it is now & cuts 7 years off my note.
Kinda tossing around 3 options.
1. Refi, Sell, Buy
- at these 30 year rates & cash in hand, a $500k house keeps my note the same (talking just mortgage).
2. Refi, Sell, Rent & wait for the crash
- this would be ideal, if not for the PITA of renting a house that probably wouldn’t be ideal for a “wait and see” amount of time.
3. Refi, Stay & Be mortagage free in probably 10 years.
- seems like a wasted opportunity to leverage this market
If you have equity & a current mortgage that’s around 4 or higher, you got done options
This post was edited on 3/2/21 at 12:08 am
Posted on 3/2/21 at 12:04 am to Eli Goldfinger
quote:
Realistically...probably more cement-based construction.
Living at the intersection of tornado alley and hurricane blvd, I would be all about a concrete house/bunker.
Posted on 3/2/21 at 12:46 am to Eli Goldfinger
Weird, I pay State Farm and the parish monthly myself. No escrow, no PMI.
Posted on 3/2/21 at 5:44 am to el Gaucho
quote:
Yep. Biden hired amazon to build cages for trump supporters.
I know this is a troll, but honestly it wouldn’t shock me the way things are going
Posted on 3/2/21 at 5:58 am to Eli Goldfinger
Where y’all buying houses for 180k? Lmao. I wish
Posted on 3/2/21 at 6:03 am to Eli Goldfinger
I’m thinking that prices are becoming unsustainable.
There’s just so much talk about it. There’s like 5 posts on this site alone about lumber and or building materials.
I was talking to a ups driver the other day and he commented that he wanted to build a shed but the price of lumber made it prohibitive.
My neighbor sells building materials and we usually only talk about sports and HIS kids but last week it was all materials.
I have a theory about the cost of things whether it’s housing, college tuition, stock market and now building materials- when everyone’s talking about the high cost, it’s a sign that things are about to crash.
There’s just so much talk about it. There’s like 5 posts on this site alone about lumber and or building materials.
I was talking to a ups driver the other day and he commented that he wanted to build a shed but the price of lumber made it prohibitive.
My neighbor sells building materials and we usually only talk about sports and HIS kids but last week it was all materials.
I have a theory about the cost of things whether it’s housing, college tuition, stock market and now building materials- when everyone’s talking about the high cost, it’s a sign that things are about to crash.
This post was edited on 3/2/21 at 6:23 am
Posted on 3/2/21 at 6:06 am to wizard1183
Can’t have plastic. That’s a petroleum product
Posted on 3/2/21 at 6:10 am to tygerfan1
I bet this thread has all the CEBA hanging-out construction management baws as hard as trigonometry right now. They gonna have a great day in their grey F250s today.
Posted on 3/2/21 at 6:17 am to SixthAndBarone
Yea we've been looking to move.
With the hurricane houses are being snatched up the day they list.
Might miss the window on what we can afford and will be stuck here longer where I'm at.
With the hurricane houses are being snatched up the day they list.
Might miss the window on what we can afford and will be stuck here longer where I'm at.
Page 3 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News