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True. Almost impossible not to be forced into one if you want to live in a nice neighborhood. But true.
nobody ever said you had to live under one
True. Almost impossible not to be forced into one if you want to live in a nice neighborhood. But true.
Shopping for a house is fun...but once you get one picked out there are some up front costs to worry about. Have about a thousand bucks set aside for those(earnest money and inspection are the two off the top of my head).
A thousand bucks isn't near enough unless you are buying a hole.
I guess it depends on what you pay for and what you get the seller to pay for. I don't remember paying much more than a thousand or so out of pocket during the process of buying my house and my house isn't a hole. However, if one is purchasing a richer crib like I'm sure you live in I'm sure its much more.
^ Bene, that was just a richer comment. It can range from 1K to 4K and you are correct, the 1K is even for nicer homes I have seen too.
Not a richer, just reality.
Where are you getting a 0% down loan? FHA is 3.5% plus inspection, appraisal, le fee, and loan origination fee. Now you may have financed all the closing costs but I guarantee upfront costs are a of a lot more than $1000.
I wasn't talking about putting money down for the loan...just the random costs that lead up to closing. I had equity from the house I sold that I dropped down on my new loan.
He's buying his first house and isn't rolling over equity. I just bought a 150K house for my daughter that closed in January on a 3.5% down FHA loan and I had to take about 7K to the table plus the 1K I had put down as earnest money.
CC, he's talking about earnest money. That is where the 1K comes from. Closing costs and such I would likely be getting handled. I'd be putting about 5% down, but Bene was referencing earnest money.
that . Ive lived in two homes.........one with and one without HOA. The HOA is definitely the way to go. Without it, this is the you get.......a neighbor that never put grass in his BRAND NEW homes backyard, and 10yrs later the weeds have spread to all the neighbors around him. You get blessed with a neighbor that doesnt keep his yard, house or fence up. He paints part of the fence red when it was new, decided he didnt like the red, and leaves the red painted boards that way for the next 10yrs. The fence if falling down and he props a rock up against it to keep it upright. The neighbor changes the oil to his car in the driveway as well as ANY other automotive repair. Ive seen this fool drop a tranny in the front yard. WTF is this???? Pep Boys and ????
Now with the HOA, none of that dumb could have happened. Also, they make sure everyones yard is kept neat so the resale values stay at the top. that ........HOA or forget it for me.
What makes you think any of that can't happen in a neighborhood with an HOA?Now with the HOA, none of that dumb could have happened. Also, they make sure everyones yard is kept neat so the resale values stay at the top. that ........HOA or forget it for me.
I'd think land then home. Find a plot of land in an area you'd like to live (within reason) and find out the cost of building a home there.
Depending on your family growth plans, stay at least 2 to 3 bedrooms because anything less is really hard to sell.
If you already know what home you want, it's just location now. You'll probably want to fit in with area homes so take a ride through these neighborhoods and get an idea of what size you want, then maybe find one on a cul-de-sac to keep traffic from going by your home all day. Consider the landscaping as well, and any expansion plans have to fit within that framework else you have a lot more money to spend.
Definitely want to know who the neighbors are, and don't buy a home next to someone who's entire extended family lives with them or visits too often, else your personal stuff becomes window shopping for thieves.
That's all bull . All the HOA does is issue threats. Unless your neighborhood is really upscale, the HOA is toothless, and just collects funds. Even the older neighborhoods have HOAs, go look at the yards and the disabled cars sitting on the streets.that . Ive lived in two homes.........one with and one without HOA. The HOA is definitely the way to go. Without it, this is the you get.......a neighbor that never put grass in his BRAND NEW homes backyard, and 10yrs later the weeds have spread to all the neighbors around him. You get blessed with a neighbor that doesnt keep his yard, house or fence up. He paints part of the fence red when it was new, decided he didnt like the red, and leaves the red painted boards that way for the next 10yrs. The fence if falling down and he props a rock up against it to keep it upright. The neighbor changes the oil to his car in the driveway as well as ANY other automotive repair. Ive seen this fool drop a tranny in the front yard. WTF is this???? Pep Boys and ????
Now with the HOA, none of that dumb could have happened. Also, they make sure everyones yard is kept neat so the resale values stay at the top. that ........HOA or forget it for me.
Get you two or three acres outside of town with a single level home on it. You can park anything you want on your land and no ing HOA.
No he was talking about all the up front costs related to closing. You have the inspection, the appraisal, loan origination fees, le insurance fee, and only putting 5% down, the mortgage insurance fee (which is a chunk).You also have to prepay the first three months insurance at closing. It's a of a lot more than $1000.
There's upfront cost and there's closing cost. Separate the two in your post.
An HOA doesn't prevent any of that stuff from happening. It just sends letters to the homeowner and charges fines when it does happen.that . Ive lived in two homes.........one with and one without HOA. The HOA is definitely the way to go. Without it, this is the you get.......a neighbor that never put grass in his BRAND NEW homes backyard, and 10yrs later the weeds have spread to all the neighbors around him. You get blessed with a neighbor that doesnt keep his yard, house or fence up. He paints part of the fence red when it was new, decided he didnt like the red, and leaves the red painted boards that way for the next 10yrs. The fence if falling down and he props a rock up against it to keep it upright. The neighbor changes the oil to his car in the driveway as well as ANY other automotive repair. Ive seen this fool drop a tranny in the front yard. WTF is this???? Pep Boys and ????
Now with the HOA, none of that dumb could have happened. Also, they make sure everyones yard is kept neat so the resale values stay at the top. that ........HOA or forget it for me.
I'm in the same boat as DPG - mid 20's with very little debt and with some savings, I'm thinking at the end of this year might be a good time
to go for it - rates aint gonna be this low forever tbh.
Good plan. I bought my first house at 23.
How much did you put down?
I can probably save up to around 40k by the end of this year, but houses in the bay area are pretty damn expensive.
There are probably 100k ones in the easy bay, but those are likely to be dumps.
Is Sonoma too far out for you? Might get a lot more home for the $ and a still really nice area.
A bit too far. I don't have problem commuting - I already do an hour each way(live in Sunnyvale, work in SF) but that's around 2 hours from SF(not sure they even have a caltrain).
Too bad. So San Jose or nearby...still very nice areas.
Worked in my neighborhood.
Without HOA its a free for all. Anyone can do what they want. Another neighbor where I just left......put a ing carport on the front of his house. A carport. They would have never flied where I used to live with HOA.
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