- 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
0
Posted on 1/20/16 at 11:15 pm to lsupride87
Nice area and I'm sure a nice house, too, especially if it's updated
I'm in your zip in a "starter home" as well. Too many creepers or I'd tell ya where
I'm in your zip in a "starter home" as well. Too many creepers or I'd tell ya where
Posted on 1/20/16 at 11:15 pm to poochie
quote:You made a dumb assumption so I matched your dumb assumption with an equally dumb one
Also, I love how an expensive house is considered not ghetto but a cheaper one is. Even though the examples in this thread show that those two houses can be had on the same block.
Posted on 1/20/16 at 11:15 pm to slackster
quote:
Your home is not a savings account
so why would you put 99% of your savings into it in the first day of owning it.
A lot can happen in 30 years which is the length of the loan
Posted on 1/20/16 at 11:16 pm to GynoSandberg
Yeh j ain't giving you my street name
Posted on 1/20/16 at 11:16 pm to lsupride87
quote:
I knew exactly what I was doing from a financial/life experience standpoin
I will say that balancing the here and now and your future financial well-being is a tough thing to do and there is no fool-proof way to do it.
Posted on 1/20/16 at 11:17 pm to lsupride87
What dumb assumption? The statement was made in this thread that one poster would rather put less down and be able to live more than put more down and have no "play money". That was flat out stated. That's not made up.
Posted on 1/20/16 at 11:17 pm to poochie
quote:Umm you made up the part where he spends all his money and saves none of it. Yeh you made that up
dumb assumption? The statement was made in this thread that one poster would rather put less down and be able to live more than put more down and have no "play money". That was flat out stated. That's not made up.
Posted on 1/20/16 at 11:18 pm to ZBeaux10
Note also FHA has requirements on the home that conventional loans do not. You can't just buy anything with an FHA loan - the whole process can be held hostage by a failed inspection. Because of this, sellers are more willing to do business with folks getting conventional loans.
You should reconsider buying a home. If you can do it in ~5 years or so, its worth it to save up a 20% down payment.
You should reconsider buying a home. If you can do it in ~5 years or so, its worth it to save up a 20% down payment.
Posted on 1/20/16 at 11:19 pm to CE Tiger
quote:
so why would you put 99% of your savings into it in the first day of owning it.
A lot can happen in 30 years which is the length of the loan
Well if you put 20% down you have immediate equity in the home that can be accessed if need be. Additionally, if you aren't able to save considering the lower monthly notes with the 20% downpayment, then you certainly have no business in the house in the first place.
Posted on 1/20/16 at 11:20 pm to SpidermanTUba
quote:
If you can do it in ~5 years or so, its worth it to save up a 20% down payment.
in the meantime just live with mom and dad and when your friends go out to dinner just tell them you are being financially responsible - yea sounds like a great way to spend your mid 20s
Posted on 1/20/16 at 11:23 pm to lsupride87
quote:
this is a load of shite. if you have a good job put down the 3.5% and enjoy life. nothing worse then someone dumping 20% into a house and then is miserable because they have no money for fun and just sit in their house eating pb&j or ramen every night.
I take that to mean take the 16.5% and enjoy life. Maybe it's all gone. Maybe half is. Who knows. But that money isn't just going to sit in an account. He's enjoying life. And more power to him.
Posted on 1/20/16 at 11:25 pm to CE Tiger
quote:
in the meantime just live with mom and dad and when your friends go out to dinner just tell them you are being financially responsible - yea sounds like a great way to spend your mid 20s
let me just say this argument is arrogant as frick and comes off as completely immature. you sound like a child throwing a temper tantrum
it's just a sign of how priorities are out of whack and how people are so short-sighted
Posted on 1/20/16 at 11:28 pm to poochie
quote:
I take that to mean take the 16.5% and enjoy life. Maybe it's all gone. Maybe half is. Who knows. But that money isn't just going to sit in an account. He's enjoying life. And more power to him
im not spending the extra $30k on a binge and living like a powerball winner. The whole point is that is something comes up and maybe you want to take a $2,000 vacation the money is there. Also if you want to buy furniture for the house or a nice TV you got it. When you are sitting in the house sweating your arse off because you put down 20% and now cant afford to fix the AC , your equity ain't gonna cool your balls off
Posted on 1/20/16 at 11:29 pm to CE Tiger
quote:
in the meantime just live with mom and dad and when your friends go out to dinner just tell them you are being financially responsible - yea sounds like a great way to spend your mid 20s
You're not doing your position any favors when your justify it by keeping up with the Joneses. I've got friends that do this exact thing and I respect the hell out of them for it. They still enjoy their lives quite a bit. People have different priorities.
ETA: Apparently SFP and I had the exact same thought process, but I took forever to post it.
This post was edited on 1/20/16 at 11:31 pm
Posted on 1/20/16 at 11:29 pm to CE Tiger
quote:
in the meantime just live with mom and dad and when your friends go out to dinner just tell them you are being financially responsible - yea sounds like a great way to spend your mid 20s
Cmon dude. That's pretty dense
If a person or persons can save 20% for a down payment in a few years, they aren't bad off. Nor will they be eating ramen and neglecting home repairs and shite once they buy.
Posted on 1/20/16 at 11:30 pm to CE Tiger
The best advice I got was to buy, but only what I could afford right then and on my own.
Posted on 1/20/16 at 11:31 pm to lsupride87
Did y'all update the house when you bought it, or was it already newly renovated?
What are the pros & cons of buying a newly updated house (with a heftier asking price/down payment) vs. a cheaper house that would need $30-40k updating.
What are the pros & cons of buying a newly updated house (with a heftier asking price/down payment) vs. a cheaper house that would need $30-40k updating.
Posted on 1/20/16 at 11:33 pm to GynoSandberg
and they shouldn't be spending 99.9% of their savings on that down payment. the DP is in addition to your savings
i mean here is the big picture: you're just dragging out your payments and will pay an immensely higher sum of money in the long term. you justify your later sacrifice and the assumed risk for more instant gratification. why not just not buy a house, rent, live that 20s life without the risk, and basically be in the same financial position when you're ready to make sacrifices for a home?
i mean here is the big picture: you're just dragging out your payments and will pay an immensely higher sum of money in the long term. you justify your later sacrifice and the assumed risk for more instant gratification. why not just not buy a house, rent, live that 20s life without the risk, and basically be in the same financial position when you're ready to make sacrifices for a home?
Posted on 1/20/16 at 11:34 pm to ladytiger118
quote:
What are the pros & cons of buying a newly updated house (with a heftier asking price/down payment) vs. a cheaper house that would need $30-40k updating.
That is probably worth of its own thread.
In general the fixer-upper is a risk/reward thing. You can remodel it exactly how you want it, which is great, and it may be cheaper than you originally estimate, but it is very likely to run much higher and can take much longer than you anticipated.
Page 15 of 17
Popular
Back to top
Follow TigerDroppings for LSU Football News