Decisions, decisions

Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Decisions, decisions
19
Wed, 04-18-2007 - 10:44pm

Our school board approved our new salary schedule for next year at their meeting last night.

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Avatar for cfk_3
iVillage Member
Registered: 05-14-1999
Wed, 04-18-2007 - 11:42pm

Ooh, that's a tough decision. Let me ask you this, how much do you value your privacy? At first, I didn't mind havng neighbors and then I grew to resent them. I guess one could say I'm not much of a people person.

I know you rent out a house. How has that worked out for you? My condo was built in '72. It had major plumbing and structural issues. I eventually had to get out of it at zero profit. We had a monthly association fee there as well. It was only $130 a month, not bad at all. I often wished I had a house when I lived there though. I was on the first floor and my patio was tiny. I couldn't use it for entertaining. It was nice not having to worry about the lawn though.

Have you started hunting down numbers? Too bad you don't live in Dallas. My best friend just bought a brand new home for around $250 something comparable to it in Nashville would be almost twice that price.

Honestly, when I am able to make another purchase, I will probably go the condo route again. Hopefully, I will be able to afford something next to new that is set up in such a way that there is a lot more privacy.

How exciting!! One word of caution, do not get a terrier!!!!!! They are sweet as can be but my terrier-terror destroyed the place.


iVillage Member
Registered: 11-21-2005
Thu, 04-19-2007 - 12:47am

The more down payment you have, the less of a mortgage payment you'll have (and some lenders will give you a better interest rate if you have a larger down payment because they think it shows that you're financially responsible, and that makes you less of a risk to them, yadda yadda yadda). But, on the other hand, many lenders do have low or no down payment programs - it all depends on how much you're comfortable financing.

One thing you could do is maybe talk to your bank and see if they have any kind of pre-approval process for mortgages and see what they say about you. I've heard (and I wouldn't know, because I'm nowhere near being ready to buy a home right now) that some realtors "won't even talk to you" if you don't have a pre-approval from a bank. Again, that's just what I've heard around the bank; it might be different in different states.



iVillage Member
Registered: 11-21-2005
Thu, 04-19-2007 - 12:49am
Homes in the Dallas area are WAY less expensive than in MA, too. My BF was looking online at houses there (he has some family and friends in Texas), just for the heck of it (he's here in MA until at least mid-2008 with the CG), and he was astounded at how cheap some of the homes were.



Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Thu, 04-19-2007 - 7:52am

Right now, my apartment is really a townhome and I have neighbors on two sides.

iVillage Member
Registered: 02-15-2005
Thu, 04-19-2007 - 8:55am

<<<>>

That's going to weigh heavily on your decision, I'd think.

Your best bet is to talk to a Realtor - one with lots of experience with selling homes to single women. Interview them - don't just use the first one you meet at an open house, or the friend of a friend of Sally's cousin. Yes, this will be time consuming - but this is the biggest financial investment you'll probably ever make - you don't want to have any big regrets.

They'll be able to take the time to talk to you and help you find the right home for you. I don't know if MO has Buyers Agency vs. Sellers Agency agreements, but you'll need to know about that, so you know exactly who your agent is representing. (Back when I was a Realtor, PA only had Seller's Agency, so we ALWAYS represented the seller, never the buyer, even if it wasn't our own listing.)

ANYWAY...I digress...LOL

One thing you may want to consider is requiring the seller to provide a solid Home Warranty. That will put your mind at ease about a lot of repairs you may face. Even if you buy a house that needs a little cosmetic work, if the roof/plumbing/foundation etc. is covered by a warranty, you'll be pretty well protected.

Maybe look into buying a duplex/semi-detached instead of being in a townhouse complex. (I call them beehives LOL.) That way, you'll have a shared wall/close neighbor, but still have all the advantages of single home ownership.


iVillage Member
Registered: 09-27-2004
Thu, 04-19-2007 - 7:26pm
Hope you are hanging in there shy with things.
I think buying a home is a really big decision to make but it's rewarding as well as it is stressful sometimes. As you know, I've had a lot of stress with being a single homeowner with the pipe situation last year but it ended up working out in the end. I paid the special assessment and this coming month they are going in to repipe the whole place and things should be really good after that with the new copper piping.
I would probably buy a newer place because then it's less maintenance because if you don't know much about home improvement or maintenance (like I have no clue) then it's tough to keep up an older place. But, if you would like to learn about home improvement and think it would make a good hobby or you are already savy then it might not be bad to buy the older place.
Don't make any quick decisions on this. Think it through for a few months or maybe a year like you said, and in the meantime save up. If you can't afford the newer townhomes then maybe looking into a 2 bedroom condo would be good too. I find having a 2 bedroom condo is good enough for me because it has 1050 square feet and is spacious enough definately for me and also living with another person. Good luck to you with this. I won't lie, buying a home is very stressful (especially being single homeowner) but when you see the payback in gaining equity and being able to call the place your own it's so rewarding, and you can say you didn't need a man to be able to own property which is very empowering.
Also if you have family around or friends who might be able to be there and give advice during the process that's good too. Make sure to have some support of others during the buying process because then you won't overlook certain important things like I did. If you have guy friends or brothers you can buy them beer or take them to dinner and they can help with the home maintenance stuff.
Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Thu, 04-19-2007 - 9:00pm

I have no family nearby, and my "friends" are all too consumed with their own lives to care about mine (same old story) so support is out of the question.


Yes, newer places have less maintenance, but they cost more.

Avatar for cfk_3
iVillage Member
Registered: 05-14-1999
Fri, 04-20-2007 - 12:24am

Shy, have you thought about going with the brand new town house and renting out a room? Of course, you could also perhaps purchase a newer, free standing home and do the same.

A friend of mine bought a four bedroom house and rented out two of the rooms. She had a lease drawn up by an attorney so that she wouldn't be left holding the bag if someone bolted or damaged her property. I think she was bringing in somewhere around $35 a year then so, it was a nice supplemental income for her. Of course, she had to deal with the downsides which come with renting, too. Such as: folks not paying on time, not doing their part to keep the house tidy but from my perspective, the extra money was well worth it.

Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Fri, 04-20-2007 - 7:30am

Just the thought of a roommate brings back some pretty awful memories.

Avatar for cfk_3
iVillage Member
Registered: 05-14-1999
Fri, 04-20-2007 - 12:22pm

I thought of you this morning as I passed a sign which read: "Brand new condominiums starting in the $120's" Guess I was wrong about the $150 and up.

I have no idea why they were that high, but it pizzd me off everytime I had to send the check off. All that paid for was repaving, water, and lawn maintenance. I forgot that water was included, maybe that's why it was high? Although, I don't really know what high is concerning assoc. fee's. That was my first time to pay them.

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