PURCHASED CONDO....1 month down, lol!!

[BuckyBadger]

I thought I had seen on another thread that your lease was $399/month? But that it was over in August. Did you release something, or is your new payment on the purchase of the same vehicle?

What sort of amenities does your HOA get you?

[docstudent]

The HOA fees include: cable, garbage disposal, so the only utility that I pay is electricity. The amenities include a heated pool, a panaramonic, roof top view, which is one of the best in the city of LA, priceless. The car is my issue of concern, I leased my first car for 27-months, and leased a second one for 27-months, and I'm currently signed a new lease for 36 months in 8/11 for $430 a month....

If I lose my job.... No job is 100% secure, but mine is probably 99% secure. I have about 14G in saving now, and my 403b accounts have increased by $6000 since my last posting....I have about a 4 or 5 month reserve....plus, I can tap my 403b if necessary. I earned my degree from a university, which has an amzaing network, lifelong and worldwide...

[BuckyBadger]

I earned my degree from a university, which has an amzaing network, lifelong and worldwide...

So did I. For both my undergraduate and PhD. But I'm not counting on my alumni network to pay my mortgage.

The HOA fees include: cable, garbage disposal, so the only utility that I pay is electricity. The amenities include a heated pool, a panaramonic, roof top view, which is one of the best in the city of LA, priceless. The car is my issue of concern, I leased my first car for 27-months, and leased a second one for 27-months, and I'm currently signed a new lease for 36 months in 8/11 for $430 a month....

This looks like a real weakness. If you had just bought a reasonable car in the first place and paid for it outright you would be more than $37,000 dollars better off. How much of your student loan or personal loan could you have paid off with that money?

I remember you posting in one of your other threads that you were willing to sacrifice and go without to make the condo thing work out. But it looks like there really isn't very much that you are willing to give up.

[docstudent]

I got rid of several things...housekeeper, car washes, decreased barber visits, so I am saving about $170 or so a month.....I have a limited entertainment budget, but the car is my guilty pleasure...Most likely, I will purchase my next car when my current lease is over.... Of course, I am not depending on an alumni network for a job, but I've seen most of my colleagues use the network to secure a job or a connection....A large reason why I selected the school was based on the network system... i don't carry any credit card debt.....currently, i'm doing good, and don't feel any type of pressure...

[Little House]

I also in in LA (but a less expensive suburb) so I understand the "great deal" you got on your condo. As for your car lease, are you expecting to turn it in in November? You might be able to save some money on car payments and insurance if you buy a slightly older vehicle (like 2 - 4 yrs). Just a thought. Congrats on your place!

[dbstylee]

I think it's still too early to get into the housing market...experts say there's another wave of forclosures and another price dip