The Home Ownership Thread

[PhilKenSebben]

Now you are probably thinking, this JBar guy is an idiot

Are you in my mind? Scarily accurate in general

Seriously though, I feel your pain on this. The landscape lighting are out current house was a ******* disaster. Ended pulling it all up, but yeah, I feel your pain.

I had quotes for people to do it and was blown away by the cost. Saved almost 4k taking a couple days to do it myself with very good fixtures. It is all a scam man

 

[Omega Male]

We replaced all the old incandescent landscape lighting with LEDs last year. Major PITA but looks much better now and hopefully almost no maintenance for the rest of our time here.

 

[RedLantern]

I think we found a house. We made a low-ball offer expecting a counter/meeting in the middle and settling in a price we are happy with. The house needs total renovation for the most part, but it is awesome. Built in 68, quad or tri level, there is some debate on that. Was a custom built home by one of the top home builders in the state at the time, tons of character, new(2016 roof) mostly new mechanicals 3 zone heating, 2 zone cooling.

Seems amazing. I convinced the wife to go for it and to let us invest and. Build it back I to a gem.

So, I am concerned because I didn't write a note/poem/autobiography when we made our offer, nor did I send any dick pics. I did however propose 2 hours of wife-swapping. Do you think that will be alright?

I am stoked about the house, and I hope this works out. We have looked at 30+ homes in person us our online views and there is dog **** available. Everything is a piece of crap.

As this is SF, I assume that most of us here have strong feelings about design, finish, and other aesthetic home choices. If that is the case, the likelihood you're ever going to find someone else's house that you are happy to live in is nil. The sooner you come to the realization that you're going to have to totally renovate (or restore) your house, the better!

 

[ValidusLA]

As this is SF, I assume that most of us here have strong feelings about design, finish, and other aesthetic home choices. If that is the case, the likelihood you're ever going to find someone else's house that you are happy to live in is nil. The sooner you come to the realization that you're going to have to totally renovate (or restore) your house, the better!

100%

Helped that the old owners of my home had terrible taste in everything.

 

[PhilKenSebben]

As this is SF, I assume that most of us here have strong feelings about design, finish, and other aesthetic home choices. If that is the case, the likelihood you're ever going to find someone else's house that you are happy to live in is nil. The sooner you come to the realization that you're going to have to totally renovate (or restore) your house, the better!

Agreed, and that isn't what made things crap. It was the broken, worn out, badly taken care of, "I consume and don't repair or improve" mentality that is the issue

 

[Van Veen]

And the "out-of-sight, out-of-mind" mentality, which is what I was dealing with. Don't know how someone could discover an oil tank on their property and not even get it inspected.

 

[sugarbutch]

We replaced all the old incandescent landscape lighting with LEDs last year. Major PITA but looks much better now and hopefully almost no maintenance for the rest of our time here.

Which won’t be long given the offer the hotsie-totsie RE agent has for you...

Agreed, and that isn't what made things crap. It was the broken, worn out, badly taken care of, "I consume and don't repair or improve" mentality that is the issue

Look at it from their side. This is a rational approach to homeownership for them. They use it until it no longer meets their needs, then they sell it for a profit without needing to spend money on all of the things you’re complaining about. And if those things didn’t actually bother them while they lived there, why should they have pod to address them?

 

[PhilKenSebben]

Which won’t be long given the offer the hotsie-totsie RE agent has for you...

Look at it from their side. This is a rational approach to homeownership for them. They use it until it no longer meets their needs, then they sell it for a profit without needing to spend money on all of the things you’re complaining about. And if those things didn’t actually bother them while they lived there, why should they have pod to address them?

No no, I understand their side. I just find them disgusting subhumans whom I don't want to buy anything from

 

[Van Veen]

Humans are terrible at understanding and processing long-term risk. That's why we have underwriters.

 

[Master Milano]

I’m wondering if anyone can put in their two cents in this:


Home Buying Advice for NYC Resident: SONYMA vs FHA vs Conventional Loan - Where to start?
Housing

Hi everyone - I'm looking to purchase a home soon for me and my siblings family. We're looking at a 2 family at around 700k - 750k. We've got about 170k saved up and could use that for downpayment (though we'd prefer to hold onto some cash since times are kind of crazy).
I've got an income of $56k+ misc., and have been working for about 2 years for a Hospital. I'm worried about the home payments to income ratio, but I would definitely be able to make the payments with the contribution of 3 other family members who will be in the home.
Credit Score: 760, with solid credit history. No college debt or credit card debt. Very little to no ongoing living costs.
The family members are my dad, mom sister, and brother in law. My dad also has solid credit score at about 723, some credit card debt - long credit history, but low income history
Monthly Mortgage Costs limit: $3750 This is about what we currently pay altogether. Does my chances for approval look okay? Looking for fixed rate to lock in the current low int. Rates... not sure if I should go through FHA or conventional loans

 

[PhilKenSebben]

I’m wondering if anyone can put in their two cents in this:


Home Buying Advice for NYC Resident: SONYMA vs FHA vs Conventional Loan - Where to start?
Housing

Hi everyone - I'm looking to purchase a home soon for me and my siblings family. We're looking at a 2 family at around 700k - 750k. We've got about 170k saved up and could use that for downpayment (though we'd prefer to hold onto some cash since times are kind of crazy).
I've got an income of $56k+ misc., and have been working for about 2 years for a Hospital. I'm worried about the home payments to income ratio, but I would definitely be able to make the payments with the contribution of 3 other family members who will be in the home.
Credit Score: 760, with solid credit history. No college debt or credit card debt. Very little to no ongoing living costs.
The family members are my dad, mom sister, and brother in law. My dad also has solid credit score at about 723, some credit card debt - long credit history, but low income history
Monthly Mortgage Costs limit: $3750 This is about what we currently pay altogether. Does my chances for approval look okay? Looking for fixed rate to lock in the current low int. Rates... not sure if I should go through FHA or conventional loans

I don't think I understand how you can buy a 700k house on 56k income, regardless of the down payments and even with the contributions of everyone else in the house. the under writing on this is going to be a *****.


That said, because rates are so low, I am a big proponent of 5 percent down personally (fha)

 

[jbarwick]

Why not just take the step of pre-qualifying to see what you can afford? The math just doesn't add up for me.

 

[Piobaire]

Does that limit include property taxes and insurance?

 

[venividivicibj]

I’m wondering if anyone can put in their two cents in this:


Home Buying Advice for NYC Resident: SONYMA vs FHA vs Conventional Loan - Where to start?
Housing

Hi everyone - I'm looking to purchase a home soon for me and my siblings family. We're looking at a 2 family at around 700k - 750k. We've got about 170k saved up and could use that for downpayment (though we'd prefer to hold onto some cash since times are kind of crazy).
I've got an income of $56k+ misc., and have been working for about 2 years for a Hospital. I'm worried about the home payments to income ratio, but I would definitely be able to make the payments with the contribution of 3 other family members who will be in the home.
Credit Score: 760, with solid credit history. No college debt or credit card debt. Very little to no ongoing living costs.
The family members are my dad, mom sister, and brother in law. My dad also has solid credit score at about 723, some credit card debt - long credit history, but low income history
Monthly Mortgage Costs limit: $3750 This is about what we currently pay altogether. Does my chances for approval look okay? Looking for fixed rate to lock in the current low int. Rates... not sure if I should go through FHA or conventional loans

So 4 people are going to be paying and each of you is going to be paying something like 40%+ of your income?

 

[NakedYoga]

So 4 people are going to be paying and each of you is going to be paying something like 40%+ of your income?

And, unless I'm missing something, the lender won't take their incomes into consideration because they won't be the ones obligated on the mortgage.