- 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
Anyone else probably stuck in their current house forever?
Posted on 6/8/23 at 2:44 pm
Posted on 6/8/23 at 2:44 pm
Bought in 2018. Refinanced to 2.75% during the pandemic. House appreciated by a couple hundred thousand.
I doubt I could afford it at its current value, interest rate, and tax bill.
Not the worst thing in the world, but some things about it are not ideal with young kids. Pretty much stuck.
Even downgrading doesn't make sense. You would just get lesser house for the same or more price at a higher tax and interest rate.
I say stuck forever - that's probably not true because I could pay this off and pay in cash for a new house in the future but definitely stopped us from moving in the next 5-10 years minimum.
I doubt I could afford it at its current value, interest rate, and tax bill.
Not the worst thing in the world, but some things about it are not ideal with young kids. Pretty much stuck.
Even downgrading doesn't make sense. You would just get lesser house for the same or more price at a higher tax and interest rate.
I say stuck forever - that's probably not true because I could pay this off and pay in cash for a new house in the future but definitely stopped us from moving in the next 5-10 years minimum.
36
Posted on 6/8/23 at 2:50 pm to ghost2most
Kinda feel like right now.
I got a fairly significant raise in 2021, plus the equity that I have in my house (12 years) had us primed to upgrade to something with land, but now with interests rates, our buying power got hit so hard.
We like our house and its certainly nice enough and big enough to continue raising our family for the rest of our lives, but we were looking to get out of the city.
Just doesn't seem feasible right now.
I got a fairly significant raise in 2021, plus the equity that I have in my house (12 years) had us primed to upgrade to something with land, but now with interests rates, our buying power got hit so hard.
We like our house and its certainly nice enough and big enough to continue raising our family for the rest of our lives, but we were looking to get out of the city.
Just doesn't seem feasible right now.
Posted on 6/8/23 at 2:52 pm to Salmon
Stuck in a house forever is much better than being stuck in a job or career forever.
Posted on 6/8/23 at 2:53 pm to ghost2most
So in 5 years your house has gained value a couple hundred thousand and yet you are complaining about being stuck? 
Posted on 6/8/23 at 2:54 pm to ghost2most
quote:
ghost2most
Consider it you mausoleum and make it a monument to yourself.
Posted on 6/8/23 at 2:55 pm to ghost2most
My wife and I bought our house in late 2018 too. 3 bedroom, 2 bath. Great school zone, great neighborhood
But I work from home so it’s essentially a 2 bedroom home. We have 2 kids now. It’s not a problem now, but it will be soon
ETA - we also purchased land to build. Our house has probably gone up in equity by $40,000.
But I work from home so it’s essentially a 2 bedroom home. We have 2 kids now. It’s not a problem now, but it will be soon
ETA - we also purchased land to build. Our house has probably gone up in equity by $40,000.
This post was edited on 6/8/23 at 2:57 pm
Posted on 6/8/23 at 2:55 pm to ghost2most
I prefer to think of it as my "forever house."
Posted on 6/8/23 at 2:57 pm to ghost2most
Bought in 2018 as well and refinanced to 2.75, too. Same situation but I love my house layout; however, I know I will need to do some updates at some point. All the major hits are taken care of in recent years like the AC, roof, etc. Next it's finding the money to get new floors throughout for nearly 3k sq ft. before overhauling the master bath so I'm eating ramen for next year
All that said to say you're in great position and stuck is not the right word when you consider the amount of appreciation you created out of thin air.
All that said to say you're in great position and stuck is not the right word when you consider the amount of appreciation you created out of thin air.
Posted on 6/8/23 at 3:07 pm to hiltacular
quote:
So in 5 years your house has gained value a couple hundred thousand and yet you are complaining about being stuck?
It’s not the value as much as the interest rates and property tax hits we’d take moving. 2.75 to 6 percent or whatever it is today is a huge jump. Not to mention the rebaselining of taxes. I fight the assessment every year. Hard to fight value when you purchase.
Posted on 6/8/23 at 3:12 pm to MrJimBeam
I feel like we're going to be here for a while now, which has upsides and downsides.
We've been in our house for 8 years, have a 20 year mortgage at 3.62%, and it's 12.5% of our take home pay each month. Our house was very affordable and its allowed us to save a lot for retirement, 529's, and basically do what we want in life. With that being said, I've never loved our house (my wife does though). We have a massive yard with trees and the upkeep is brutal, and the leaves in the fall can be a full time job. We live in the country so any time we want to do something, it's a minimum 15 minute drive.
So right now we can sock money and that's awesome, but I'd like to move into something newer within a few years.
We've been in our house for 8 years, have a 20 year mortgage at 3.62%, and it's 12.5% of our take home pay each month. Our house was very affordable and its allowed us to save a lot for retirement, 529's, and basically do what we want in life. With that being said, I've never loved our house (my wife does though). We have a massive yard with trees and the upkeep is brutal, and the leaves in the fall can be a full time job. We live in the country so any time we want to do something, it's a minimum 15 minute drive.
So right now we can sock money and that's awesome, but I'd like to move into something newer within a few years.
Posted on 6/8/23 at 3:15 pm to grsharky
quote:
I feel like we're going to be here for a while now, which has upsides and downsides.
We've been in our house for 8 years, have a 20 year mortgage at 3.62%, and it's 12.5% of our take home pay each month. Our house was very affordable and its allowed us to save a lot for retirement, 529's, and basically do what we want in life. With that being said, I've never loved our house (my wife does though). We have a massive yard with trees and the upkeep is brutal, and the leaves in the fall can be a full time job. We live in the country so any time we want to do something, it's a minimum 15 minute drive.
So right now we can sock money and that's awesome, but I'd like to move into something newer within a few years.
I have a ton of Oaks but the ice storm this year took a lot down. Still tons of leaves.
My major gripe is the lot isn't level. We're on a hill so the yard slopes up. My other major 1st world problem complaint is the pool. I wish I never bought a house with one. Such a money and time suck.
Posted on 6/8/23 at 3:19 pm to ghost2most
quote:
I have a ton of Oaks but the ice storm this year took a lot down. Still tons of leaves.
My major gripe is the lot isn't level. We're on a hill so the yard slopes up. My other major 1st world problem complaint is the pool. I wish I never bought a house with one. Such a money and time suck.
For living in the mountains, our yard is very flat, but almost 3 acres total. We have a pretty good mix of maples and oaks. The maples aren't too hard to deal with, I mulch up the leaves and they go away nicely. The oaks are brutal to clean up after, plus the thousands of acorns they dump.
This post was edited on 6/8/23 at 3:21 pm
Posted on 6/8/23 at 3:27 pm to ghost2most
in pretty much same boat. i'm at 2.5%, note is less than rent on a 2br apartment
really need another bedroom and better layout for my family, but i'll never again get a deal this good.
really need another bedroom and better layout for my family, but i'll never again get a deal this good.
Posted on 6/8/23 at 3:28 pm to ghost2most
Purchased my house 10 years ago . I'm up 400k from what i paid to its value now. Did a refi to 2.25 a few years ago. Lord willing it doesnt look like im going anywhere for a while. Around 3000sqft house so space is not an issue with a acre and a quarter of land. The next house will be much smaller because it will be me and the wife. Hoping to pay that with cash and not have to worry about payments. Tempting to sell but where you going to go right now?especially in Jax.
This post was edited on 6/8/23 at 3:37 pm
Posted on 6/8/23 at 3:34 pm to ghost2most
Yeah. Because wife won't stop spending
Posted on 6/8/23 at 3:42 pm to VermilionTiger
quote:
But I work from home so it’s essentially a 2 bedroom home. We have 2 kids now. It’s not a problem now, but it will be soon
It sounds like you have the perfect reason/excuse to put a detached office/man cave in the back yard!
Posted on 6/8/23 at 3:44 pm to ghost2most
Happily yes - we bought this house as our forever home in 2018. Refi'ed from 4.5% to 2.5% in January 2021. This mortgage is worth a lot of value for us right now. Very happy things played out like they did for us.
Posted on 6/8/23 at 3:56 pm to ghost2most
I've only been in my house for 4 years but with a 2.625% rate I don't think I'll ever sell it. I told my wife that if we decide we want to move we could rent it out for a lot more than what it costs us.
Posted on 6/8/23 at 4:00 pm to Salmon
quote:
Salmon
quote:
got a fairly significant raise in 2021, plus the equity that I have in my house (12 years) had us primed to upgrade to something with land, but now with interests rates, our buying power got hit so hard.
We like our house and its certainly nice enough and big enough to continue raising our family for the rest of our lives, but we were looking to get out of the city.
Similar to us. We wanted to buy this spring but rates have had us reevaluate. So we just purchased 3+ acres in the country closer to both our parents. Will pay off aggressively and build in 2-3 years once the oldest starts highschool. In the meantime I will be digging our pond, putting up a barn and adding chicken coop for eggs, 2 cows a year for butchering and mini goats for the kids.
Screw the city. I am 43 she is 36 and we are ready to get out the rat race.
Posted on 6/8/23 at 4:17 pm to ghost2most
Yep! And I couldn’t ask for a better situation. Bought in 2020, sellers had listed it for the two prior summers and not one offer. They put the house back on the market during Covid without adjusting the price for the flight out of NYC. I jumped on it 15 minutes after listing and we had an acceptance 5 hours after listing. Interest rate is 2.8% and it’s still up 50% in value.
This post was edited on 6/8/23 at 4:23 pm
Page 1 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News