Nothing major. Throughout our stay (and especially when we move out), walls need painting. An ad-free Twitter like never before. (We should have seen this one coming after that guy live-tweeted a breakup .) Whether you're into breaking news, sports, TV fan theories, or a never-ending stream of the internet's cutest animals, there's a community on Reddit for you. I just accepted a new job with a starting salary of a little over 60k. I am reposting it here today as part of the dialogue about renting and homeownership that … Be aware that most condos are part of HOA developments, which is an additional fee on top of your mortgage, insurance, and taxes. Press J to jump to the feed. Ideally on a 15 year fixed rate mortgage, not a 30. There is no way I could live in a condo or apartment . Facebook Lite. You can declare bankruptcy on a credit card, which will haunt you, but...it is an option. You still have property taxes to pay, the HOA fees. They are both going to be paid off, so which do you pay off first? It’s a Nissan and they are fairly reliable. Press question mark to learn the rest of the keyboard shortcuts, https://www.tsahc.org/homebuyers-renters/first-time-home-buyer-grants. Thanks! Let's just say the vehicle and CC can both be paid off in one year. Reddit community for fans of the 2020 World Series Champion Los Angeles Dodgers. You are still subject to the terms of the HOA, that is everything from what color your front door can be too stupid minutia like whether or not you can smoke inside your own apartment. I’ve read conflicting information on the down payment. Foreclosure is rarely a choice homeowners make willingly. Do not get a 30 year mortgage in order to afford more home. I plan to have no debt when I purchase, and keep my truck until the wheels fall off, but I currently have no down payment money either. Spend the next few years fixing it up. If you crunch the interest paid between the credit card and the truck, theres not a huge difference. Sure. On your own home you can choose to defer maintenance or to go without some improvement that isn't meaningful to you. Technology should help to bring people together. So you could end up with $1000-1500/month outside of the house obligation, and that would have to cover food, household items, gas, car insurance, and any other spending and saving you may try to do. My Secret Captions Chastity, FLR, whatever she says..., 18 years old and + only In the mean time, see you on Reddit, Steam or Github (links below). J.D. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Reddit (/ ˈ r ɛ d ɪ t / , stylized in its logo as reddit) is an American social news aggregation , web content rating , and discussion website. Wanted to give some insight into PMI. So if you buy a $400,000 home, just say goodbye to $100,000 that you worked hard for. Depending on taxes and insurance, your monthly net income might be around $3000-3500, depending on your deductions and exemptions. Appreciate the input. 75.7k members in the Dodgers community. You can do work yourself or look around for the best deal. Well, my reasoning is for the 80-10-10 to get in a home sooner, is that I would save a ton in gas and vehicle maintenance. Could you do it? TikTok. Be careful. Landscaping needs maintenance. As investments go, it's not always a great deal. There are a lot of online calculators to help you determine your affordability and also see a complete picture of ownership. Thanks! In general you can find a home for equivalent cost, but there’s slightly more upkeep in most cases. Please note that RES is specifically designed to work on OLD reddit. Special assessments for big ticket items. I believe that in this current housing market, it makes a lot of sense to shop for bank-owned homes or foreclosures; bank-owned homes will go a LOT smoother than short sales. Rucker/CC BY 2.0. Junglee A shopping service launched by Amazon in India in 2012 where customers can find millions of products, read product and seller reviews, and check prices across a wide variety of product categories. First, let me step back and give you some context on how and why I bought a house, so we’re all on the same page here. Because even when you sell the house later you’re just going to take that money and put it into another downpayment. If the car is paid off, any monthly money that would have gone to the car payment can be added to the CC payment. A year after becoming a first-time homeowner, Reddit user Tuttifrutty shared some tips for … Long-time contributor Cheeseness has put together a poster and an introductory video to celebrate the release. Christopher Walken Has Never Owned A Computer Or A Cell Phone brobible.com - FrancisEllis. I was just hoping that maybe someone could help me crunch some numbers. As long as nothing goes wrong until settlement, it will be a great investment. reddit Inc. I plan to commute the first 6-12 months and take every spare penny and pay those off. Foreclosures are most common due to job loss, serious medical conditions that prevent ongoing employment, serious maintenance issues with the home that a homeowner can't afford to fix, divorce, or other drivers of consumer, educational, or medical debt. ... Home Extensions Reddit Enhancement Suite. Because even when you sell the house later you’re just going to take that money and put it into another downpayment. It sucks that inflation and stagnant wages (even though this is a big raise for me) have made buying a nice home something that nearly requires 2 incomes. I'm going to be commuting about 60 miles while I pay everything off and then start saving up. Appearing via Zoom to talk about his movie Wild Mountain Thyme on The Late Show, Walken told host Stephen Colbert, "Somebody had … While it's true that some homes do appreciate, so do many other assets. In general, foreclosure only occurs when there are no other options. But you definitely have fair points to consider. Facebook. Condo ownership is not as simple as it is often made out to be. At $60k/yr that gets you $2000/mo in debt payments. General rule is about 3x income for the financed portion of the house, so you could reasonably go to $180K financed without stretching yourself too thin. Good point. Even once I start, it's going to take quite a while to pay everything off and then get a sizable emergency fund and down payment. I should net right at about 3k a month. That being said, I'm from MI and the rules likely aren't exactly the same but they look similar. Will have to wait and see. However, I’m not sure how much house I will be able to afford. Wife to share in 46383, and surrounding areas. Buying a $250k home with 20% down ($50k) would run around $1150 for mortage/taxes/insurance. Christopher Walken joined Colbert on The Late Show, where he told the host that he’s never owned a computer or a cell phone:“I got to a certain age … A site owned by Amazon aimed at providing content and reviews about digital photography gear across the world. Shop around for different settlement companies if you can, some are a little more flexible than others. Zillow and NerdWallet are very good. For someone who’s never owned a homepod; is it worth buying a stereo pair for use with my appletv 4k right now? Fedilab is a multifunctional Android client to access the distributed Fediverse. HOAs can levy additional fees in order to fund a project. 4,211. One in three UK millennials will never own a home – report This article is more than 2 years old. You generally can't buy a home under first-time status if your wife is currently a homeowner, with a few exceptions. Housing. tschneider. So if you buy a $400,000 home, just say goodbye to $100,000 that you worked hard for. Is buying a good financial move? I live in a relatively low COL state, so I can see myself staying in this position for a good while, assuming everything “jives” when I get in the office. The ones I avoid are those with fees of $400+ per month, I do wonder though... Do regular homes cost more despite them not having HOA's on a yearly basis? A married man had Reddit captivated this weekend as he live-blogged his discovery that his wife was cheating on him. My take is that...if you keep the vehicle for ten more years, you will no longer have that payment for ten years if you pay it off. Once I’m completely debt free, I’ll start establishing my savings and looking for a house. I’ve been looking at Zillow to get an idea of what’s in the area, and it looks like the houses with the features I like, are about 220k-250k. One common one is that your total monthly payment for a house (mortgate, taxes, insurance, utilities, maintenance and upkeep) shouldn't exceed 30% of your gross monthly income. There's a few different traditional guidelines that people follow with home purchases. Thanks for the A2A. There is another town that borders this one, and I’ve seen a few houses for it in the 200-215k range that look just as good, it’d just be about a 15 minute drive and the schools aren’t rated as high. Press J to jump to the feed. Dive into anything. Christopher Walken joined Colbert on The Late Show, where he told the host that he’s never owned a computer or a cell phone: “I got to a certain age where it just passed me by.” Hey Chris? They will also only lend you up to where that monthly mortgage payment is ~30% of your gross monthly income. Offered by: redditenhancementsuite.com. Suffice to say, when you write that check, you’re never going to see that money again. In some cases a simple majority could almost double your fees. So hopefully when I get ready to buy I will be debt free. Only if you like living 3 inches away from your neighbors. In a TIC, there's no right of survivorship, so the home doesn’t go to the last surviving owner. Entertainment Weekly - Don't expect Christopher Walken to follow in Mandy Patinkin's footsteps and twerk on TikTok anytime soon, especially since the actor has never owned a cellphone or computer. Especially when you know you want to add in a truck purchase in about 5 years. $2.99. Some say I NEED 20% down to avoid PMI, others say I can do an 80-10-10, and others still say put down the bare minimum to get the loan and just pay the PMI. In the big picture, it's important to get a good house in a good location. But if the taxes/utilities fell on the higher end, it might be tight. I can't tell you specifically, unless you tell me your Reddit username. Again, at $60k/yr that’s $1500/mo. HOA fees are ridiculous. Add in some money for utilities and maintenance, and you're a bit above. While appearing virtually on an episode of The Late Show Tuesday, the 77-year-old actor spoke candidly to host Stephen Colbert about his avoidance of modern-day technology. Thanks for the perspective and figures. Reddit (/ ˈ r ɛ d ɪ t / , stylized in its logo as reddit) is an American social news aggregation , web content rating , and discussion website. (Author's note: This article was originally posted on September 27, 2013. However, like I said, you really don’t have to worry about anyone else. Fedilab. 80-10-10s are barely worth it especially at your income level and financed amount. I’m completely guessing here, but let’s say your monthly debt requirements on the loans you mentioned is around $800/mo, then the bank will only give you a mortgage with a monthly payment (principal +interest +taxes +insurance +PMI +HOA) of $1200/mo. Planning on buying your first home? If you could only put $25k down, the PMI would push the monthly payment up to about $1350/month. You need a cash safety cushion so you can eventually pay for emergencies without needing to use a credit card, so save up any cash until you have enough to pay off one or the other. But I will definitely study that advice. If we estimate utilities to run maybe $400/month (and it could be much more if you live in a place with cold winters or really hot summers and the furnace/AC runs a lot), and a few bucks for maintenance, your monthly house obligation will likely push $1600-2000/month. Smooth, fast, powerful, custom. Reddit and penises go together like peas and carrots, making this list of the website’s most insane dick stories further proof that Reddit is, in fact, the greatest place on earth. We’re talking about computers, not TikTok. In general look at the total cost of ownership. Those are loan options for broke people and no don't really put you better off than PMI. I have a connected smart home with lights and locks etc already which i control with my watch/phone/google home mini. 80-10-10 is two mortgages in essence. For $60k, that's about $1500/month. Thanks for the insight! Our shares in the home may be equal or unequal, but each of us would have a separate legal title. Reddit. The thing about a condo is that some of your expenditures are determined by a democratic process. You might end up with a screaming child right next to or above you and walls are thinner than townhomes. I'd personally spend some time shopping and see if you can stay a lot closer to $200k and less, than $220-250k. Foreclosure is rarely a choice homeowners make willingly. Explore millions of awesome videos and pictures in an endless random gallery on Scrolller.com. No Judgement, just advice! There’s all sorts of grants and free money out there for first time homebuyers. Buying a new home can be a challenge because many newly-built houses are more expensive. We pay a heck of a lot more money than we think to work (think about work clothes, food, cars, fuel, commutes, etc), and our homes work in much the same way. The best advice I can offer for the future is research research research, and make sure you get a really good real estate agent. If you choose to contact a lender, I would let them know you're interested in condos. 2014-05-21: Neverball 1.6.0. First-time homebuyer status makes it easier to get your foot in the door through low down payments and grants. Christopher Walken has admitted he has never owned a phone or a computer. A bank will lend you at most ~40% total debt/income. I bought it new. You had your wits about you in the ’90s dude. If you're planning to take out a mortgage to make your home purchase when you're in … I’ve never been here, but it feels like home. A good rule of thumb is for your house payment including principle, interest, taxes, insurance, and HOA do not exceed 25% of your monthly income after taxes (not after benefits but just after taxes). I personally would recommend someone put 20% down and avoid PMI. Ideally, I’d pay the card off first as it’s much higher interest, but I’m tempting to pay the truck off first instead as it’s a much higher monthly obligation. 1. Neverball 1.6.0 is out now! Christopher Walken has admitted he has never owned a phone or a computer. Gun-ownership through a liberal lens. I don’t want to be “mortgage broke” but I would like to get as nice as I can afford with some spending money, savings, and maybe a new truck 5 years in the future. Thank you for the response! Homes need appliances like refrigerators, ovens, stoves, and microwaves. 108k members in the liberalgunowners community. When we owned a home, there were things that kept us awake at night, the stream of needs and the price tags tethered tightly to them, not to mention the … Homes also need working plumbing. Reddit is home to thousands of communities, endless conversation, and authentic human connection. Seems like it could be a little tight on the budget, and not leave a lot extra per month. 50 votes, 24 comments. The interest rate on it is about 2.5%, the interest rate on the card is about 20%. This leaves me with about 6k in CC debt, 3.5k in a federal student loan, and about 5k left on my truck. Second homes and properties purchased for investment purposes are big business in the U.S. Nor could I stand to live in a house with an HOA, More posts from the povertyfinance community. Foreclosures are most common due to job loss, serious medical conditions that prevent ongoing employment, serious maintenance issues with the home that a homeowner can't afford to fix, divorce, or other drivers of consumer, educational, or medical debt. Save cash like a hermit until you have enough to pay off the vehicle. Your payments plus the improved condition will get you equity, so you can easily refinance to get rid of PMI, and take advantage of a 1% or better lower interest rate, which fluctuates...shop around for the lowest refinancing fees, you have good credit so dont be lazy... Get a 30 year fixed rate loan, you can make extra principal payments if you want, but if you get a 15-year loan just because you can afford it, you are stuck with the higher payment when you have a "bad year". It all depends on the situation at the time of your purchase, right now the interest rates are really low, but interest rates could go up in a few years. I just accepted a new job with a starting salary of a little over 60k. Reddit Enhancement Suite. This is a place for liberal gun-owners … But I will definitely be considering it as I don’t want to over extend. Pick a house that’s WELL within those ranges and you’ll be golden. This version of Facebook uses less data and works in all network conditions. Most functionality will not work on the redesign. Find communities you're interested in, and become part of an online community! Financial advice, frugality tips, stories, opportunities, and general guidance for people who are struggling financially. I can tell you that you put more information about you out there than you know. People - Christopher Walken is living life free from technology. In a condo decisions on what work to do and who to pay to do it are determined by the elected board. Suffice to say, when you write that check, you’re never going to see that money again. While you’ll find lots of tips from real estate agents and banks, it’s also wise to listen to people who’ve been in your position. More posts from the personalfinance community. On a loan amount of $200k, that’s $34/mo. Get the cheapest house on a good block, one that needs a few minor repairs, landscaping, paint. I gotta save up enough to get some basic furnishing and emergency funds too. The veteran actor, now starring in Wild Mountain Thyme opposite Emily Blunt and Jamie Dornan, explained he could not set up his own interview for the virtual conversation as he didn’t have the means. Take the next year to pay off your credit card (ASAP) and truck (normal payments only) to free up your debt/income limitation while building up cash for a down payment. Many have washers and dryers. As far as loans, conventional are the best (or VA) usually followed by FHA. I’ll have the mandatory retirement coming out, and I want to contribute enough to get the optional 403(b) match. Just because you’ve paid off the mortgage on the place doesn’t mean you don’t have obligations. So hopefully within about a year. Please only post if you are looking to share your wife and your zip code. My truck is already about 5 years old. I know that the general advice here is to avoid it at all costs, which shouldn’t be, in my opinion, always the case. Join our community, read the PF Wiki, and get on top of your finances! In general, foreclosure only occurs when there are no other options. Texas has a website where you can browse some of their programs and contact a lender who specifically works with those programs - https://www.tsahc.org/homebuyers-renters/first-time-home-buyer-grants. If I were to pay off that 80k condo in full I would just have to pay the monthly HOA, monthly taxes and monthly insurance for life right? A first-time homebuyer has not owned a home in the past three years. Then I can tell you how the breadcrumbs connected in your case. There are pros and cons to both options, but the bottom line is that while your loan is important, your real estate agent is even more important. I know here, a lot of buyers using some of our first time home buyer programs have trouble finding condos that are eligible to purchase. Condos aren’t really great unless they’re absolutely in an area where you want to be. The vehicle payment is the same whether you owe three years or three months. But I've been living at home with my parents for the last several years and it's killing my self esteem to be 32 and living at home. Of a little tight on the down payment ( 760+ ), your never owned a home reddit net might! Homebuyer status makes it easier to get your foot in the home doesn ’ t have to about. Ready to buy I will be able to afford a `` pre-owned '' starter.... Equal or unequal, but you don ’ t mean you don ’ t have obligations have! Sure how much house I will be debt free, I 'm going take! 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