|
Replies: 63
| visibility 1
|
CU Guru [1432]
TigerPulse: 74%
Posts: 1432
Joined: 6/12/20
|
Got the keys to my first home yesterday
2
3
64
2
3
64
Aug 30, 2023, 9:15 AM
|
|
Interest rates aren't great but the prospect of renting longer is event worse.
Got a great new build in Charlotte 15k under asking price so I don't have anything to complain about.
Looking forward to pulling for our tigers in a house of my own come Monday!
|
|
|
|
 |
All-In [27193]
TigerPulse: 100%
Posts: 16034
Joined: 10/13/08
|
Re: Got the keys to my first home yesterday
17
17
Aug 30, 2023, 9:17 AM
|
|
Congrats. The first thing you will realize being a homeowner is how far away you live from either a Lowes/Home Depot. You will be there a lot.
Home ownership is increasingly out of reach for a lot of first-time buyers....so this is quite an achievement in today's market.
|
|
|
|
|
|
110%er [5961]
TigerPulse: 100%
Posts: 5688
Joined: 7/3/12
|
Re: Got the keys to my first home yesterday
9
9
Aug 30, 2023, 9:19 AM
|
|
with a new build he may not have to be there as much, at least for a couple of years.
My home is 35 years old, I pretty much live at Lowes
|
|
|
|
|
|
CU Guru [1432]
TigerPulse: 74%
Posts: 1432
Joined: 6/12/20
|
Re: Got the keys to my first home yesterday
10
10
Aug 30, 2023, 9:29 AM
|
|
Yep, a lot of work to do in the yard but other than just paint for now.
|
|
|
|
|
|
All-In [27193]
TigerPulse: 100%
Posts: 16034
Joined: 10/13/08
|
Re: Got the keys to my first home yesterday
8
8
Aug 30, 2023, 9:31 AM
|
|
Precisely this: yard improvements. Bingo.
|
|
|
|
|
|
All-TigerNet [10927]
TigerPulse: 100%
Posts: 12723
Joined: 9/28/10
|
Re: Got the keys to my first home yesterday
5
5
Aug 30, 2023, 10:21 AM
[ in reply to Re: Got the keys to my first home yesterday ] |
|
Exactly. That's the great thing about a new build. Normally you aren't rushed into paying for repairs for at least 10 years or so.
|
|
|
|
|
|
110%er [9202]
TigerPulse: 100%
Posts: 2812
Joined: 2/23/23
|
|
|
|
|
|
110%er [5961]
TigerPulse: 100%
Posts: 5688
Joined: 7/3/12
|
Congrats on the new home
8
8
Aug 30, 2023, 9:18 AM
|
|
you can always refinance when/IF the rates comes back down.
Very thankful for refinance a couple years back at 3.25%, I'm seeing 6%+ now
|
|
|
|
|
|
CU Guru [1458]
TigerPulse: 100%
Posts: 452
Joined: 4/11/21
|
Re: Congrats on the new home
2
Aug 31, 2023, 9:01 AM
|
|
you can always refinance when/IF the rates comes back down.
They will. I've owned 3 homes over the years and refinanced each of them. For two of them, I refinanced from 30 years to 15 years AND lowered my payment.
And Congratulations!
|
|
|
|
|
|
All-In [27344]
TigerPulse: 100%
Posts: 10121
Joined: 2/14/13
|
Re: Got the keys to my first home yesterday
7
7
Aug 30, 2023, 9:18 AM
|
|
congratulations!
|
|
|
|
|
|
Orange Blooded [3227]
TigerPulse: 100%
Posts: 4096
Joined: 6/24/23
|
Re: Got the keys to my first home yesterday
5
5
Aug 30, 2023, 9:22 AM
|
|
Congratulations. In the scheme of history, the interest rate is still probably pretty decent.
|
|
|
|
|
|
110%er [9202]
TigerPulse: 100%
Posts: 2812
Joined: 2/23/23
|
Congrats!
7
7
Aug 30, 2023, 9:26 AM
|
|
Big day! Not sure if you got a PMI, but focus on as many extra principle payments until it is gone if you have one and can afford it. Also, by the time you can refinance, the rates should be much better.
|
|
|
|
|
|
Orange Blooded [2669]
TigerPulse: 81%
Posts: 8366
Joined: 8/12/14
|
Re: Congrats!
7
7
Aug 30, 2023, 9:30 AM
|
|
I bought my first house 8 years ago with an fha loan. The loan officer told me that once i owned 20% of the house the PMI will go away. I kept the house as a rental when i bought my second hime and now that i own 20% of the first home, they are telling me that pmi never goes away with an fha loan.
That $120 a month really annoys me!
|
|
|
|
|
|
CU Guru [1458]
TigerPulse: 100%
Posts: 452
Joined: 4/11/21
|
Re: Congrats!
2
Aug 31, 2023, 9:08 AM
|
|
I kept the house as a rental when i bought my second hime and now that i own 20% of the first home, they are telling me that pmi never goes away with an fha loan.
I'm not an expert here, and I know FHA loans have MIP (Mortgage Insurance Premiums), which is a little different from PMI.
I'd look to refinance, especially since you own more than 20% of your home's equity.
|
|
|
|
|
|
All-TigerNet [13549]
TigerPulse: 100%
Posts: 8952
Joined: 8/30/18
|
Re: Got the keys to my first home yesterday
7
7
Aug 30, 2023, 9:30 AM
|
|
Congrats, that is a great feeling and nice to have your own home rather than renting someone else's. Best of luck to you!
|
|
|
|
|
|
CU Medallion [53830]
TigerPulse: 100%
Posts: 43580
Joined: 11/17/03
|
I sold my son his first house about 3 weeks ago...Gave him
9
9
Aug 30, 2023, 9:32 AM
|
|
the commission, bought him a new electric mower...etc.etc...I hope he doesn't move any time soon...
|
|
|
|
|
|
CU Guru [1511]
TigerPulse: 100%
Posts: 1011
Joined: 1/16/02
|
Re: I sold my son his first house about 3 weeks ago...Gave him
3
Aug 30, 2023, 2:31 PM
|
|
If buy another house will you adopt me?
😎
|
|
|
|
|
|
All-TigerNet [10400]
TigerPulse: 100%
Posts: 5714
Joined: 9/29/05
|
Re: Got the keys to my first home yesterday
6
6
Aug 30, 2023, 9:33 AM
|
|
Congratulations....based on our exchanges, Charlotte is absolutely perfect for you.
|
|
|
|
|
|
110%er [5961]
TigerPulse: 100%
Posts: 5688
Joined: 7/3/12
|
I work in Charlotte
2
Aug 30, 2023, 9:47 AM
|
|
it is a real turdbowl no doubt.
Traffic is terrible, tons of transplants from up North, down South, everywhere.
Do not live here though, prices are a bit extreme for property here due to the growth Charlotte has shown over the last few years...which is why traffic is so bad, built the city to accommodate a much smaller population which leads to a crapfest every morning and every evening
|
|
|
|
|
|
CU Guru [1432]
TigerPulse: 74%
Posts: 1432
Joined: 6/12/20
|
Re: I work in Charlotte
4
Aug 30, 2023, 9:55 AM
|
|
Thankfully my office is about 7 steps from my bedroom so peak traffic is out of sight out of mind.
I spend most of my time in Plaza Midwood / NoDa area so even when I am out it's pretty easy to avoid traffic.
To me, traffic is places like Greenville, SC or even Fort Mill is way more frustrating.
|
|
|
|
|
|
110%er [5961]
TigerPulse: 100%
Posts: 5688
Joined: 7/3/12
|
Re: I work in Charlotte
3
Aug 30, 2023, 10:05 AM
|
|
well that changes the narrative, very nice.
Try going South 85 anytime between 4PM and 6PM Tuesday through Friday, frustrating is being kind.
|
|
|
|
|
|
110%er [8593]
TigerPulse: 100%
Posts: 5324
Joined: 9/7/09
|
Definitely won't have to worry about seeing Ole bowlhunter
2
Aug 30, 2023, 10:15 AM
[ in reply to Re: I work in Charlotte ] |
|
In Noda; unless he's there to protest some shocking progressive movement. He'd rather read a book than be around so many liberal folks.
|
|
|
|
|
|
All-In [31315]
TigerPulse: 100%
Posts: 9128
Joined: 8/31/15
|
Re: Definitely won't have to worry about seeing Ole bowlhunter
3
Aug 30, 2023, 10:22 AM
|
|
In Noda; unless he's there to protest some shocking progressive movement. He'd rather read a book than be around so many liberal folks.
Not crazy about being around many myself. Nothing in common and most seem to struggle with basic economics.
|
|
|
|
|
|
All-TigerNet [10400]
TigerPulse: 100%
Posts: 5714
Joined: 9/29/05
|
Re: Definitely won't have to worry about seeing Ole bowlhunter
3
Aug 30, 2023, 11:58 AM
[ in reply to Definitely won't have to worry about seeing Ole bowlhunter ] |
|
I don't protest as I think both sides look like idiots and I wouldn't want to embarrass my family in some viral video. But you're correct I don't want to be around a liberal.
|
|
|
|
|
|
Orange Blooded [3017]
TigerPulse: 100%
Posts: 3181
Joined: 2/3/23
|
Re: I work in Charlotte
1
Aug 30, 2023, 10:57 AM
[ in reply to Re: I work in Charlotte ] |
|
I agree about Greenville. I’ve said many times Greenville is worse than Charlotte and I drive from Anderson to Charlotte twice a month. Obviously Charlotte has more volume by my goodness Greenville can be frustrating.
|
|
|
|
|
|
CU Guru [1432]
TigerPulse: 74%
Posts: 1432
Joined: 6/12/20
|
Re: I work in Charlotte
1
Aug 30, 2023, 11:35 AM
|
|
both my and my wifes family live there so we visit often. It drives me crazy.
Yeah, Charlotte has a lot of traffic but there is 2 million people here and if you know what you're doing there is much that can be avoided.
There is nothing that can help Woodruff road
|
|
|
|
|
|
Orange Blooded [3017]
TigerPulse: 100%
Posts: 3181
Joined: 2/3/23
|
Re: I work in Charlotte
1
Aug 30, 2023, 12:12 PM
|
|
I think Greenville and the entire upstate is growing faster than we are prepared for. Even Anderson is now getting challenging in some areas. Ugh!!!
|
|
|
|
|
|
CU Guru [1432]
TigerPulse: 74%
Posts: 1432
Joined: 6/12/20
|
Re: I work in Charlotte
1
Aug 30, 2023, 12:41 PM
|
|
Hopefully the gov't both local and state try to get out ahead of it with infrastructure investments.
If not - it will only get worse
|
|
|
|
|
|
Orange Blooded [3439]
TigerPulse: 100%
Posts: 5040
Joined: 4/12/01
|
Re: I work in Charlotte
1
Aug 30, 2023, 12:55 PM
[ in reply to Re: I work in Charlotte ] |
|
Moved to our second home off East Georgia Rd in 1984. Wasn't much on Woodruff east of I85. We moved to NC in November '86 and that stretch had really begun to develop. Grew up in the early '50s and '60s about 400 yards behind the future location of Haywood Mall. Dad sold his two plus acres and very modest home in 1985 for 22 times its 1952 purchase price.
|
|
|
|
|
|
Orange Blooded [2976]
TigerPulse: 100%
Posts: 3219
Joined: 8/29/05
|
Re: I work in Charlotte
1
Aug 30, 2023, 11:18 AM
[ in reply to Re: I work in Charlotte ] |
|
Since ATL lost/sold the Thrashers...I hv either Hurricanes or Panthers.
My city north of ATL is looking to buy a new NHL team! So I may stay put. Nothing concrete yet. But desperate to leave Fulton county none the less.
When I bought my house I thought my new city was going in new county but the state of GA has like 159 counties and don't want another one. Means I have to leave.
Anyhow, may a new NHL team just north county for me is like 10 minutes away.
|
|
|
|
|
|
All-In [31315]
TigerPulse: 100%
Posts: 9128
Joined: 8/31/15
|
Re: I work in Charlotte
3
Aug 30, 2023, 10:20 AM
[ in reply to I work in Charlotte ] |
|
Yea I live in Tega Cay and heading North on 77 at the wrong times is rough.
|
|
|
|
|
|
CU Guru [1159]
TigerPulse: 100%
Posts: 772
Joined: 2/25/19
|
Re: I work in Charlotte
1
Aug 30, 2023, 11:01 AM
|
|
I live in Tega Cay as well, the traffic this morning was extra frustrating.
|
|
|
|
|
|
Orange Blooded [2538]
TigerPulse: 100%
Posts: 771
Joined: 9/3/10
|
Re: Got the keys to my first home yesterday
7
7
Aug 30, 2023, 9:36 AM
|
|
We bought our first home in 1957 for a total price of $15,000. A new construction, 3 bedroom, two bath, Ranch. Interest rate 4 percent.
|
|
|
|
|
|
110%er [5961]
TigerPulse: 100%
Posts: 5688
Joined: 7/3/12
|
You have what is called equity, a rather substantial amount
4
Aug 30, 2023, 9:50 AM
|
|
puts you in a great place to enjoy Clemson Tiger football.
Go Tigers!!
|
|
|
|
|
|
CU Guru [1553]
TigerPulse: 100%
Posts: 434
Joined: 9/18/02
|
The prices of houses back then always amazes me
4
Aug 30, 2023, 11:58 AM
[ in reply to Re: Got the keys to my first home yesterday ] |
|
My Grandparent's built their future "retirement" home on 57 acres in 1972 for $24,000. My Grandad retired in 1978 after 20 years in the Navy and 10 years as a civilian with DOD. The acreage was given to them by my Great Grandad in the 60's.
The house was over 3700sqft with five bedrooms, all brick, with hardwood floors that, for whatever reason, they covered up with carpet. I didn't even realize it had hardwood floors until they were getting ready to sell it and got rid of the carpet.
It sold for $525,000 in 2006. Talk about a return on an investment.
|
|
|
|
|
|
CU Medallion [53004]
TigerPulse: 100%
Posts: 8762
Joined: 12/26/15
|
Re: The prices of houses back then always amazes me
3
Aug 31, 2023, 8:48 AM
|
|
My Dad bought a fishing cabin on Beaver Creek, Lake Wylie in 1964 for $8k. 800sqft, 3 room, on 3/4 acre. I sold it in 2020, with very little improvements, for $350k.
|
|
|
|
|
|
Orange Blooded [4022]
TigerPulse: 100%
Posts: 1575
Joined: 8/28/16
|
Re: Got the keys to my first home yesterday
5
5
Aug 30, 2023, 9:49 AM
|
|
Congrats! The key to home ownership is learning what repairs/updates that you can do vs when to call a pro.
|
|
|
|
|
|
Orange Blooded [4568]
TigerPulse: 100%
Posts: 3777
Joined: 5/8/22
|
Re: Got the keys to my first home yesterday
4
Aug 30, 2023, 9:50 AM
|
|
Congrats!
|
|
|
|
|
|
Orange Blooded [2976]
TigerPulse: 100%
Posts: 3219
Joined: 8/29/05
|
Re: Got the keys to my first home yesterday
3
Aug 30, 2023, 9:55 AM
|
|
Try not to look at the whole house. One project at a time. And as you noted CFB, mother nature can ensure quality procrastination. Stay thirsty friend. Cheers!
|
|
|
|
|
|
110%er [6905]
TigerPulse: 99%
Posts: 9192
Joined: 7/11/03
|
That’s an accomplishment nowadays. Not sure how
4
Aug 30, 2023, 9:57 AM
|
|
old you are, but home ownership for young people has become a dying dream. SAD!
|
|
|
|
|
|
Oculus Spirit [80444]
TigerPulse: 100%
Posts: 23615
Joined: 8/21/06
|
Congratulations***
5
5
Aug 30, 2023, 10:06 AM
|
|
|
|
|
|
|
|
Orange Blooded [3439]
TigerPulse: 100%
Posts: 5040
Joined: 4/12/01
|
Re: Got the keys to my first home yesterday
3
Aug 30, 2023, 10:07 AM
|
|
Congrats for getting out of the rental situation. Hope the transition goes well. In 1977, bought my first home in Taylors with an 8% VA loan. Now live in the third 21 miles north of you. Worked in downtown Charlotte 1986 to 2007.
|
|
|
|
|
|
All-In [31315]
TigerPulse: 100%
Posts: 9128
Joined: 8/31/15
|
Re: Got the keys to my first home yesterday
4
Aug 30, 2023, 10:17 AM
|
|
Congratulations! Huge accomplishment and I hope you enjoy it!
|
|
|
|
|
|
All-In [26035]
TigerPulse: 100%
Posts: 3281
Joined: 7/28/12
|
Re: Got the keys to my first home yesterday
5
5
Aug 30, 2023, 10:35 AM
|
|
Congrats, IntrepidWill! I remember that exciting feeling when we bought our first home in 1974! Be very proud of what you've worked hard for.
|
|
|
|
|
|
110%er [8278]
TigerPulse: 100%
Posts: 3926
Joined: 9/11/08
|
Re: Got the keys to my first home yesterday
3
Aug 30, 2023, 10:50 AM
|
|
Welcome to capitalism, mortgage, property taxes, insurance, upkeep, and the slow aggregation of equity. Beware that this will have a conservative impact on your philosophy.
|
|
|
|
|
|
110%er [9735]
TigerPulse: 96%
Posts: 9842
Joined: 9/16/15
|
Interest rates are for sure high
3
Aug 30, 2023, 10:56 AM
|
|
Congrats on the purchase and $15k discount.
Glad I pulled the trigger several years ago. Got in with a rate of 2.625%
|
|
|
|
|
|
Scout Team [188]
TigerPulse: 89%
Posts: 191
Joined: 7/24/22
|
Re: Got the keys to my first home yesterday
4
Aug 30, 2023, 11:04 AM
|
|
T-net house warming party?
|
|
|
|
|
|
Orange Blooded [2976]
TigerPulse: 100%
Posts: 3219
Joined: 8/29/05
|
Re: Got the keys to my first home yesterday
1
Aug 30, 2023, 11:36 AM
|
|
NOTE for TNET:
Create 'House Warming' Board. Pronto!
|
|
|
|
|
|
Orange Blooded [2976]
TigerPulse: 100%
Posts: 3219
Joined: 8/29/05
|
Re: Got the keys to my first home yesterday
1
Aug 30, 2023, 11:39 AM
|
|
Better Yet, remove COVID
|
|
|
|
|
|
110%er [9325]
TigerPulse: 100%
Posts: 13045
Joined: 8/14/00
|
Have you hung a giant TV on the living room wall yet?
2
Aug 30, 2023, 11:20 AM
|
|
Priorities.
They're #### near free today.
My oldest son was using the first 42" "flat screen" I bought back in 2004.
Got him a 50" 4k TV for $220 and had it up on the wall for another $25.
The 42" TV cost me $2,000 in 2004.
|
|
|
|
|
|
CU Guru [1432]
TigerPulse: 74%
Posts: 1432
Joined: 6/12/20
|
Re: Have you hung a giant TV on the living room wall yet?
3
Aug 30, 2023, 11:37 AM
|
|
We have a 4k 55" on the way!
|
|
|
|
|
|
All-In [30841]
TigerPulse: 100%
Posts: 34504
Joined: 6/22/03
|
IF you are married. DO NOT let your wife watch Joanna Gaines***
2
Aug 30, 2023, 11:47 AM
|
|
|
|
|
|
|
|
Hall of Famer [24812]
TigerPulse: 100%
Posts: 42568
Joined: 7/31/10
|
That was good.***
1
Aug 30, 2023, 10:29 PM
|
|
|
|
|
|
|
|
Hall of Famer [22746]
TigerPulse: 100%
Posts: 11557
Joined: 10/12/14
|
Re: Got the keys to my first home yesterday
2
Aug 30, 2023, 11:47 AM
|
|
Congratulations. Do you own a truck? I remember my father saying many years ago “ if you own a home you are going to need a truck”. Truer words were never spoken.
|
|
|
|
|
|
CU Guru [1268]
TigerPulse: 100%
Posts: 281
Joined: 7/15/23
|
Re: Got the keys to my first home yesterday
2
Aug 30, 2023, 11:48 AM
|
|
Congrats and blessings on you and your home. I have made much more money off of real estate via the equity that increased in my homes than stock or bond investments. Made money in both but percentage wise better in real estate. Enjoy your home.
|
|
|
|
|
|
All-In [38141]
TigerPulse: 100%
Posts: 9361
Joined: 6/13/19
|
Re: Got the keys to my first home yesterday
3
Aug 30, 2023, 12:38 PM
|
|
Congratulations!!!
|
|
|
|
|
|
CU Medallion [52508]
TigerPulse: 100%
Posts: 23037
Joined: 10/10/11
|
Re: Got the keys to my first home yesterday
2
Aug 30, 2023, 12:40 PM
|
|
Congrats!!
|
|
|
|
|
|
Orange Blooded [3663]
TigerPulse: 51%
Posts: 2388
Joined: 4/12/01
|
Re: Got the keys to my first home yesterday
2
Aug 30, 2023, 3:05 PM
|
|
Congrats and make sure you put in your Clemson man cave
|
|
|
|
|
|
Orange Blooded [4059]
TigerPulse: 100%
Posts: 4547
Joined: 3/6/01
|
Tell your HOA I said chupa la pinga!***
1
Aug 30, 2023, 11:24 PM
|
|
|
|
|
|
|
|
Hall of Famer [22391]
TigerPulse: 100%
Posts: 7155
Joined: 8/31/03
|
Congratulations!
2
Aug 31, 2023, 12:31 AM
|
|
Enjoy.
|
|
|
|
|
|
CU Medallion [55433]
TigerPulse: 100%
Posts: 58433
Joined: 7/18/07
|
Re: Got the keys to my first home yesterday
2
Aug 31, 2023, 5:18 AM
|
|
Congrats, and there's nothing better than buying your own home, and knowing that nobody else controls any changes you may want to make, and no body can run you off unless you fail to make your payments, and usually owning in the long run is cheaper than renting, and you'll always have to do one or the other, so why would anyone buy property for someone else when they can just as easily be paying that monthly cost for your own property.
Also, if you have to move away bc of employment or what ever the reason, if you're renting, you can't get a dime you have invested back out of rental property, but if you own, you can!!!
One other thing, start investing in your own carpenter tools bc there will be those times that wood will rot, or something just has to be replaced bc of age, and it's a huge savings when you fix or repair yourself. In the 20 years I've owned the home that I'm in now, I've only had to call someone in once, and it was bc of an electrical problem that I just couldn't find the problem, and I had to call in an electrician with a lot more experience than I had. But there's not much that I can't do when it comes to working with wood as in framing or trim, and I have all the tools that makes them jobs easier....
Message was edited by: allorangeallthetime52®
|
|
|
|
|
|
All-TigerNet [10223]
TigerPulse: 74%
Posts: 18323
Joined: 2/20/09
|
That is a unique feeling. Refi it when
1
Aug 31, 2023, 8:05 AM
|
|
Trump gets back in office. Congratulations
|
|
|
|
|
|
Heisman Winner [134732]
TigerPulse: 100%
Posts: 26407
Joined: 9/18/12
|
Congratulations!!***
1
Aug 31, 2023, 8:24 AM
|
|
|
|
|
|
|
|
Orange Blooded [4716]
TigerPulse: 100%
Posts: 2345
Joined: 1/9/07
|
Re: Got the keys to my first home yesterday
2
Aug 31, 2023, 8:52 AM
|
|
Congratulations! You are now a participating member in the American Dream!!
|
|
|
|
|
|
Replies: 63
| visibility 1
|
|
|
50
