Went to see this house today...

[ScrimpAndSave]

Haha game! So what do I do?

[gamecock43]

Sigh. *grumble* save.

The cost of paying closing costs, maintance, redecorating, buying furniture, and moving in will add up

and if you have your heart set on a larger cape- you will one day add up the thousands of dollars you spent to get into this house combined with the money you would have saved staying in your dads house, combined with the money you will spend in realtor fees to sell the house and realize you would have gotten you into your cape at least one year earlier than if you buy a house now.

It's terrible. This longing and not getting. Everything bad in life can be attributed to not owning a home. You wouldnt have a bad day if you have a nice house to come home to and realize it's all worth it. You wouldnt have argued with your dad if you had your own place and didnt feel so resentful that you dont have a house....

I just keep the opposite perspective in mind.
*I am not one of those fools who bought and then the market continued to decline. (I bet home owner friends of yours would secretly give you their right arm to be in your position; where you can buy NOW, as opposed to THEN. They will never admit it though, cuz it reveals their poor judgement)
*I am free to accept a job anytime, anyplace
* I am free to move anytime, anyplace
*my money in the bank is growing in interest as oposed to declining in the housing market
*and I can still dream about my someday house as opposed to being confronted with my reality house. (My someday house is a 1900's victorian on a tree lined street with hardwood floors and a wrap around porch. My reality house right now is just that-minus any updates for the past 100 yrs)
*No one can judge me on my poor choice in carpeting, paint colors, wal-mart furniture and cracked tile. I can talk about how I would own hardwood, nice wooden blinds...and I dont look like a hypocrite when people walk in my house and its a few levels above crack house quality.

[DebbieL]

"It's terrible. This longing and not getting. Everything bad in life can be attributed to not owning a home. You wouldnt have a bad day if you have a nice house to come home to and realize it's all worth it."

That's a little on the extreme side - no? I highly disagree. You've led a pretty charmed life if the worst thing you can think of is not owning a house.

- The other points in your post were all valid


PS – I’m 37, haven’t ever owned a house, have a pretty darned good life, and have suffered FAR worse tragedies than being a renter. Houses here cost over 600K, so you kind of have to prioritize what’s important. I’d rather have a life than be a slave to an outrageous mortgage payment. It is NOT the worst thing in life.

[gamecock43]

yes Debbie, point taken- I definitely appreciate where you are coming from, and understand I sound like a spoiled brat that I want a house and can’t afford one. There are MUCH worse things in life, and I have seen a few, grateful that I have not seen everything.
I'm just explaining that I DO understand the constant nagging in your head to buy, buy, and buy. My generation is steeped in commercialism and I am a product of the middle class American dream.
In the grand scheme of things, on the priority list of my life, owning a home is really not even in the top 5 of life goals. Learning and accepting myself, finding love, staying healthy, staying out of debt and living according to an internal set of morals and ethics are my big priorities.
I am very lucky to have achieved some of this list, and of course the list is always a work in progress, never to be completed. (I think I should add humility to the list, I have noticed I am turning a bit too comfortable in my lifestyle..Above post is a shining example)
But in my big, grand scheme of commercialism purchases in my life, owning a home is #1. Right now at this point in my life. Working toward this goal for so many years has produced a one track mind for me. So I empthasize with scrimpnsave, and that’s the point I am trying to stress.

[tripods68]

On another post, I asked you if would you rent for a while and test the market. You indicated your currently paying only $400 plus utilities when the rent around you're area cost around $1000 average. This house is well within your budget. I think you can afford this. You can negotiate on the terms including the closing costs. This is a great home young couples just starting out. Even if you live by yourself, it is still affordable. I think this is no brainer....

I think the most important thing to remember is REGRET. Do you see yourself living in this house for at least 5 or 10 years. What is your expectation? This house might be cute now and affordable but does it fit your expectation. The moment you start thinking selling after 4 or 5 years as an investment return, well you might be dissapointed.

When we were looking to buy our starter home 5 years ago, the average price was around $220K in our area. We also knew we may have to start a family right away. So having at least 3 bedroom was a must and a extra office (den). It cost us $283K to buy. But we are still very happy in our decision. And now with 2 young kids running around our 1740sq still fits us nicely even with occassional family get together or parties once in a while.

[ScrimpAndSave]

We don't plan on having kids...and although it would fit us...it is not ultimately the type of home I would want over 10 years.

I am looking for a place to live or 5-7 years...and if I don't buy one, I think I can afford $250,000 in 2 years...so either I sit with Daddy for 2 more years or buy a starter home and stay in it for 5-7 and then buy the $250,000 home.

...ugh.

My salary over the next few school years will be:

2008-2009: $48,696
2009-2010: $57,725
2010-2011: $67,232
2011-2012: $75,849
2012-2013 $84,894

Each year runs Aug. 31- Sept. 1

I am a teacher.

I like this, too: Forks Township, Pennsylvania Home for Sale From RE/MAX

[tripods68]

It's not necessarily you need to beat your self up whether you can afford a starter home. Based on your own income you can. But when you start looking to buy a house around $250K+ you better be sure you have comfortable margin of safety. You wouldn't want to live pay to paycheck $84K a year income alone.

Buy your starter home that you can pay on your own without anybody's help. Get married, enjoy your marriage for the next several years; do lots of traveling before you have a family. And when your both ready to have a family, then that's when you make a decision whether upgrade into a bigger home or NOT. You don't want to ever count your eggs first before they hatched.

[PrincessPerky]

Originally Posted by ScrimpAndSave

Living at my Dad's isn't bad. It is a 2,100 square foot house for just the two of us. My mother died about 4 year ago and he is 74 (very active). I'm 27, in my 4th year of teaching and engaged. My fiance graduates from law school in May 2009 (he is 5 hours away during the school year).

I just want out because I want out...I want to own and decorate and have a place to call my own. I want to get my life started...and still live near my father.

I just wish I could afford around $250,000. If I could do that - then I could be living in my forever home. I would love to have a 1,600 square foot cape cod. I feel like that would be plenty of room for us.

Having 5.5 folks living comfortably in 1100 sq foot, I see no reason why two can't live in 1000sq foot....

But, how would your father feel about you redecorating his house? Most men I know are not to settled in all their decorations. Of course his room and one other should remain his tastes, but if you do more cooking/entertaining, why not decorate his house?

[DebbieL]

I think whether you buy or not, you should probably be out on your own by now. Living with your dad will probably not be the best way to start a marriage either IMO (and yes, I know you all get along great, but trust me I’ve been there).

[ScrimpAndSave]

Yeah, I agree...and understand.

I just don't know how many years we could stay in a starter home or if I could really deal with living in a townhouse/half of a double.

I'm not sure what to do. I know I can make it...I will be bringing home about $2700 a month and I have $1500 in CC debt.

I don't have a ton saved...but I am thinking that if I live in a townhouse it will be more economical...

Ugh I don't know. Doesn't it get boring to live in a townshouse that looks like 4 other houses that are attached to you? Am I crazy?

I guess so.

[gamecock43]

Dont force it. The decision should come easily and feel right. If you force yourself to make a decision then you risk making a mistake.

Maybe because it looks like an either 'buy now, or buy in 2 yrs' deal that has you anxious. If you shorten it to 'buy in 6 months or buy in 1 year,' then you will be giving yourself 6 months of relief from this exhaustive uncertainty.

I stand by my prior posting that you will be spending alot of $$ that could go to a savings account and earn interest to get into this house. And it might slow you down (from getting in your cape) in the long run.

I also suggest that you wait for your fiances benefit. It's his first home too. I would think he would want to go through the process with you, of house hunting, moving in, decorating. You said he goes to school 5 hrs away, so he doesnt get to share with you in your first year of homeownership!

And since he does not have a job yet, you guys are limiting his job options before he's graduated.

But feel free to keep proving me with homes to look at, I find it great fun to help people to spend their money.

[ScrimpAndSave]

It is really fun to look!

I am basing it on my salary alone...God forbid he doesn't get a job, we will still be able to afford it.

He is home now for the summer...so we have been looking together.

[DebbieL]

I personally prefer the first house you put up. I would go for that over a townhouse, but of course you should do what's right for you!

[ScrimpAndSave]

Debbie, I love that house two. I think I am pretty set on the fact that I need at least 1.5 bathrooms.


I also like that the townhouse has more spacious rooms:

Area Forks-70
Subdivision Independence
Approx Square Feet 1364* Sq Ft Source Tax Records
Lot Sq Ft (approx) 0 Lot Acres (approx) 0.000 Lot Size Source (Tax Records)
County Northampton
Beds 2 Baths (FH) 2 (1 1)
Year Built 1985*
Cross Street Orchard Road
School District Easton
Directions to Property 115 N. Left on Old Mill, right onto Orchard Road to left to Fort Lee court.
Features
Style Traditional
Stories #2.0
Type of Ownership Fee with HOA
Construction Aluminum, No-Maintenance Trim
Parking Off Street (driveway)
Basement None

Rooms & Sizes
Living Room 19x18 Level: 1st Floor
Kitchen 20x11 Level: 1st Floor (Large Eat in Kitchen)
Bedroom 1 17x17 Level: 2nd Floor
Bedroom 2 10x17 Level: 2nd Floor
Bathroom 8x8 Level: 2nd Floor
Other Room 1 5x5 Level: 1st Floor (Powder Room)

Additional Features
Appliances Clothes Dryer, Clothes Washer, Dishwasher (Stainless Steel), Oven Gas (Stainless Steel), Refrigerator (Stainless Steel)
Exterior Enclosed Patio
Interior Features Contemporary, Family Room Lower, Laundry Second, Walk in Closet
Miscellaneous HOA Fee

Utility Information
Heat Forced Air, Gas
Cooling Central AC
Hotwater Gas
Technology Cable, Satellite
Amperage 100.0
Amperage Type Circuit Breaker
Water Public
Sewer Public

Financial
Total Taxes $2360.89
Possible Financing Cash, Conventional, FHA, Seller Assisted, VA



SELLER ASSISTED! Yeah! That means they cover some closing costs.

[ScrimpAndSave]

And let me jst say that the townhouse is in an amazing suburb...very up and comping....very safe...great for resale.

[gamecock43]

OOOHHH...he's home now. That clarifies alot. You guys have months spread before you with nothing to do but look at houses (and I realize you are both likely working over the summer..but I'm guessing your jobs leave you with a good amount of spare time, and the pressure is off him right now because he does not have a million things to do for school)

And you guys are feeding off one anothers excitement when you look at houses together.

And you feel like you have a small window of opportunity to buy before he goes back to school and you get caught up in teaching school.

And you guys are waking up every morning and coming face to face with your father and its a tad awkward with him for your fiance and you guys dont want to interrupt your dads routine.

(I'm guessing all this-obviously)

But I can see how that environment is encouraging you to feel the urge to buy right now. That combined with you having just graduated and feeling like you want to get started on the rest of your life can create a strong impulse to buy.
If I am remotely on the right track here, then wait before you buy. In 3 months your life will change where the fiance leaves, you get caught up in work and making plans to visit him, and the desire to be house hunting will likely subside.

[ScrimpAndSave]

Yes you are partly right...except being at home isn't really awkward. We wake up, eat breakfast together...we are both off to work. when I get home, my dad asks where he is....because there is a hockey game on and I think he likes the company.

I swear, if my fiance lived here and not me...my dad would not miss me! Haha!

I'm not in a rush it buy...but I have to say that I cannot believe how much I am learning about what I do and do not want in a house...what I thought was tolerable simply isn't...and what I thought I didn't need I really want.

Like I said, huge learning experience.

[banana]

That townhouse is really nice

[ScrimpAndSave]

THIS IS PERFECT:

CENTURY21 Real Estate

And I am assuming I could get it down to around $165,000- $170,000...but with only 3% to put down, I am not really sure I can afford it on my $50,000 a year salary...even though my debt is really low.

This area is very, very nice.

LOVE THIS! Could stay in this for...a long time.

[ScrimpAndSave]

Sorry, the MLS is: 300855


2638 Eldridge Ave, Easton, PA 18045 | Zillow Real Estate