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What would you buy? (Serious thread please)

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Bam Newbie

Bam

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What would you buy if you were 21, a full time student as well as had a full time job, and a 2 year old kid?

 

Buy a house or a condo?

 

Either one IS a good deal, much less than market value, and obviously houses would be easier to resell, but at these prices I doubt I'll have an issue.

 

I REALLY want a house, we all do. But the fact that we're not home very much during the day, week, or weekend, really worries me about maintaining a home. I'd love a garage at my place, and a nice yard to play in.

 

BUT, I've got access 24/7 to a huge, free garage 15minutes away, and there are multiple parks/etc within 5 minutes bike ride/10 minute walk.

 

The condo is obviously cheaper to purchase. and cheaper to maintain, and therefore cheaper on my budget, but what would you do?

 

Both are in the same, good school district, but are about a $30k difference in price. Over an above the condo you get another bedroom, 2 car garage, and obviously the land/yard etc.

 

thanks for any input.

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turbospec29 Newbie

turbospec29

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What would you buy if you were 21, a full time student as well as had a full time job, and a 2 year old kid?

 

Buy a house or a condo?

 

Either one IS a good deal, much less than market value, and obviously houses would be easier to resell, but at these prices I doubt I'll have an issue.

 

I REALLY want a house, we all do. But the fact that we're not home very much during the day, week, or weekend, really worries me about maintaining a home. I'd love a garage at my place, and a nice yard to play in.

 

BUT, I've got access 24/7 to a huge, free garage 15minutes away, and there are multiple parks/etc within 5 minutes bike ride/10 minute walk.

 

The condo is obviously cheaper to purchase. and cheaper to maintain, and therefore cheaper on my budget, but what would you do?

 

Both are in the same, good school district, but are about a $30k difference in price. Over an above the condo you get another bedroom, 2 car garage, and obviously the land/yard etc.

 

thanks for any input.

 

 

 

If you plan on having another kid, house.

 

If not, condo.

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Bam Newbie

Bam

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If you plan on having another kid, house.

 

If not, condo.

 

well...the first wasn't planned, lol, but no, no plans for another kid anytime soon, I can see in 5 years, but I want to get through school and get a solid job/career established before trying again.

 

good thinking though, the condo is only a 2bedroom compared to the 3 bedroom house.

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Bam Newbie

Bam

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agreed.. house

put a little money in it and make a profit in the end.

 

See that's the thing, the condo needs nothing, move in condition and would leave me with extra money each money.

 

But the house needs many updates, carpet, garage door, exterior siding/molding, kitchen appliances, among other things, it's priced $30k under market value because it needs some serious updating, but at the purchase price I wouldn't be left with that much each money, after overestimating on the bills/expenses, it'd be around 3-500, if that left over, so not much to completely renovate a home.

 

But I agree, and that's why I posted this, I really want the house, just not sure if it being a slight stretch is worth it right now. Don't get me wrong, its a VERY good deal, excellent area/neighborhood etc, just at the top of my budget/whatnot for a purchase knowing what it needs.

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thorne Enthusiast

thorne

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Read my other thread about losing your money, If your going 5 years there is no way in hell I would purchase a house right now. You will lose money, The mortage vs rent calc (it shows the break even). I would have to live where I am now 7years for it to break even. It takes allot of things into account, But to each there own, I would never buy a condo personally.

 

All of the things I want a conda has I pay for extra on the side atm. I've got dog poop clean up. Lawn mowed. If my shit breaks i don't have to stress.

 

now why I hate the condo idea. Why the hell do I want a apartment I own. I am in a house now ( I could have rented a apartment somewhere way cheaper ). because I can't fucking stand having my wall to another persons. If I sneeze wrong they can bitch. Or if they are inconsiderate bastards and play there music loud all day. Working third shift that would just no work. My neighbors can work in the garage and it don't wake me here.

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Skinner Newbie

Skinner

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I saw get the house. Get your loan for it @ market value (if thats in your budget). Use that extra money to update the house. It may be 30k under market value but would only cost maybe 15k of that extra money to get it updated. Use the extra to payoff any extra debt or invest it in something
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thorne Enthusiast

thorne

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I saw get the house. Get your loan for it @ market value (if thats in your budget). Use that extra money to update the house. It may be 30k under market value but would only cost maybe 15k of that extra money to get it updated. Use the extra to payoff any extra debt or invest it in something

]Explain to me how you get it at market when no one can sell shit at market because the market is way inflated. I'm just curious, Over all buying 1 right now will cause a money loss.

 

But what do i know I just follow numbers and stats.

 

 

If he puts down the required #'s to get the best finacning options, He will get screwed because the market has no possible way in hell to maintain the current upturn it does not match the median income even remotely and if you look at any of the places that are POPPING you don't want to live there . my parents 200K hood is becoming HOOD.

 

I would not park my car over night over there with shit in it. my sisters had her car broken into many times. there is street trash (Hood fuckers) walking around eye ball fucking people . they belong on the hill not here. But when these areas have "CHEAP" houses that means the people who paid desent money when the market was less gay get fucked and the quality of the people who live there goes down as people lose there house or just say fuck it and move out with out selling the house. Causing more sec8 houses. Don't think I know what im talking about

 

Go Visit Halloway

When I left 9 neighbors were evicted.d

 

Visit Alkire lakes

28 of the last 29 houses were sold on repo or short sales

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87GT Newbie

87GT

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I have lived in my house less then 2 years and already made money on it. The trick is to buy an house that the owner died. Then whoever has the estate will sell it less then it is worth. Then all you need to do is upgrade the bathroom and kitchen. Instant profit.

 

I say buy a house. Grow up and be a man. Go cut your grass and cut down trees.

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V8 Beast Newbie

V8 Beast

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I think you guys are missing the point. He does not plan on living there for a long time. At this point renting would be the best option, but if you dont want to rent get a condo. A 6-12 month lease will give you time to make up your mind. You get a lot of breaks for being a first time home owner so dont waste them....
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