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. Could you do it? You might end up with a screaming child right next to or above you and walls are thinner than townhomes. 108k members in the liberalgunowners community. Condo ownership is not as simple as it is often made out to be. One in three UK millennials will never own a home – report This article is more than 2 years old. Nothing major. 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? I was just hoping that maybe someone could help me crunch some numbers. My truck is already about 5 years old. In general, foreclosure only occurs when there are no other options. In general you can find a home for equivalent cost, but there’s slightly more upkeep in most cases. Just because you’ve paid off the mortgage on the place doesn’t mean you don’t have obligations. So if you buy a $400,000 home, just say goodbye to $100,000 that you worked hard for. Pick a house that’s WELL within those ranges and you’ll be golden. There's a bit of debate about whether you should talk to a lender first when you decide to buy a home or to a real estate agent. Zillow and NerdWallet are very good. I can tell you that you put more information about you out there than you know. My Secret Captions Chastity, FLR, whatever she says..., 18 years old and + only Please note that RES is specifically designed to work on OLD reddit. 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. 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. Is buying a good financial move? This is a place for liberal gun-owners … Smooth, fast, powerful, custom. They can tell you what the situation around you is. Shop around for different settlement companies if you can, some are a little more flexible than others. As far as loans, conventional are the best (or VA) usually followed by FHA. The max is 75k, which I presume to hopefully hit in a few years. I'd personally spend some time shopping and see if you can stay a lot closer to $200k and less, than $220-250k. 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? Get it from the download page and have a look at the release notes. So hopefully within about a year. If you choose to contact a lender, I would let them know you're interested in condos. Our shares in the home may be equal or unequal, but each of us would have a separate legal title. HOAs can levy additional fees in order to fund a project. 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. There is no way I could live in a condo or apartment . Throughout our stay (and especially when we move out), walls need painting. $2.99. Fixtures might need chan… Suffice to say, when you write that check, you’re never going to see that money again. This leaves me with about 6k in CC debt, 3.5k in a federal student loan, and about 5k left on my truck. Sure. 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. At the end of the day, yes you own your apartment, but you don’t own the land under it. On the other hand a small condo apartment is going to be smaller than any stand alone home you can purchase so for some people that makes it more a affordable. I just accepted a new job with a starting salary of a little over 60k. Please only post if you are looking to share your wife and your zip code. If the car is paid off, any monthly money that would have gone to the car payment can be added to the CC payment. Financial advice, frugality tips, stories, opportunities, and general guidance for people who are struggling financially. I know that the general advice here is to avoid it at all costs, which shouldn’t be, in my opinion, always the case. There’s all sorts of grants and free money out there for first time homebuyers. Landscaping needs maintenance. We’re talking about computers, not TikTok. If your credit score is in the top tier (760+), your PMI factor should be around .2%. But you definitely have fair points to consider. 1. I just accepted a new job with a starting salary of a little over 60k. According to the National Association of Realtors' 2017 Investment & Vacation Home Buyers Survey, about 12% of all home sales in 2017 were acquired for vacation use and 19% for investment purposes.With roughly 6 million properties changing hands each year, 1.8 million are for non-primary use. Fedilab. As investments go, it's not always a great deal. Dive into anything. HOA fees are ridiculous. If you crunch the interest paid between the credit card and the truck, theres not a huge difference. 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. You can declare bankruptcy on a credit card, which will haunt you, but...it is an option. Asked by the late-night host if it was true that he has "never owned a … Find communities you're interested in, and become part of an online community! Suffice to say, when you write that check, you’re never going to see that money again. In a TIC, there's no right of survivorship, so the home doesn’t go to the last surviving owner. 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. 80-10-10s are barely worth it especially at your income level and financed amount. Will have to wait and see. 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. Facebook. Facebook Lite. Thanks! The thing about a condo is that some of your expenditures are determined by a democratic process. More posts from the personalfinance community. 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. 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. Research shows that it may be easier to afford a "pre-owned" starter home. 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? Buying a $250k home with 20% down ($50k) would run around $1150 for mortage/taxes/insurance. 4,211. 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. 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). 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. Most functionality will not work on the redesign. Reddit Enhancement Suite. Appearing via Zoom to talk about his movie Wild Mountain Thyme on The Late Show, Walken told host Stephen Colbert, "Somebody had … A year after becoming a first-time homeowner, Reddit user Tuttifrutty shared some tips for … 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. Press J to jump to the feed. In the big picture, it's important to get a good house in a good location. Save cash like a hermit until you have enough to pay off the vehicle. There are a lot of online calculators to help you determine your affordability and also see a complete picture of ownership. You can’t choose your neighbors. My home was a short sale, and it took around four months to finally get my offer accepted. 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. While it's true that some homes do appreciate, so do many other assets. Second homes and properties purchased for investment purposes are big business in the U.S. Press question mark to learn the rest of the keyboard shortcuts. So if you buy a $400,000 home, just say goodbye to $100,000 that you worked hard for. Homes need appliances like refrigerators, ovens, stoves, and microwaves. Add in some money for utilities and maintenance, and you're a bit above. Appreciate the input. I don't think it will take too long to pay them off, maybe 2-3 months for the card and 2-3 months for the truck or maybe a little longer like you say, since it's almost non-existent interest. In general, foreclosure only occurs when there are no other options. A married man had Reddit captivated this weekend as he live-blogged his discovery that his wife was cheating on him. 2014-05-21: Neverball 1.6.0. tschneider. 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. 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. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. 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. You do need to be below 80% LTV to avoid PMI but depending on your credit and being able to take advantage of the low rates, paying PMI on a 5-10% down might not be a terrible idea. I keep peeking into Redfin (properties app) and I always see condos under 80k, I never owned a home and I was wondering what would be the best first time owner programs for me a resident of Texas that does not make a lot of money but my credit is in great standing and no debt. I just sold an off-road UTV for about the same I paid for it, and eliminated that payment, as well as took the surplus $3800 and paid it on a credit card balance. Good point. Reddit is a network of communities based on people's interests. Christopher Walken has admitted he has never owned a phone or a computer. I promise. Foreclosure is rarely a choice homeowners make willingly. A site owned by Amazon aimed at providing content and reviews about digital photography gear across the world. 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. 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. But I will definitely study that advice. 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. There's a few different traditional guidelines that people follow with home purchases. Reddit community for fans of the 2020 World Series Champion Los Angeles Dodgers. 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. Christopher Walken Has Never Owned A Computer Or A Cell Phone brobible.com - FrancisEllis. A bank will lend you at most ~40% total debt/income. I can't tell you specifically, unless you tell me your Reddit username. In 2016, 68% of buyers aged 62-70 financed their home. ... Home Extensions Reddit Enhancement Suite. Reddit is home to thousands of communities, endless conversation, and authentic human connection. On a loan amount of $200k, that’s $34/mo. Planning on buying your first home? Press question mark to learn the rest of the keyboard shortcuts, https://www.tsahc.org/homebuyers-renters/first-time-home-buyer-grants. For friends and fun! For $60k, that's about $1500/month. Thanks for the A2A. People - Christopher Walken is living life free from technology. Reddit Enhancement Suite is a community-driven unofficial browser extension for Reddit. Housing. 75.7k members in the Dodgers community. That being said, I'm from MI and the rules likely aren't exactly the same but they look similar. I’ve never been here, but it feels like home. So hopefully when I get ready to buy I will be debt free. 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. So I think you are on the rich side of home values for your income. In some cases a simple majority could almost double your fees. Technology should help to bring people together. Christopher Walken says he's never owned a phone or computer NME - Ella Kemp. 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 would be paid for in about 10-11 months even if I didn’t throw a single extra dollar at it, so I’m forecasting hopefully another good 4-5 years out of it. You generally can't buy a home under first-time status if your wife is currently a homeowner, with a few exceptions. Wanted to give some insight into PMI. 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. A first-time homebuyer has not owned a home in the past three years. The max is 75k, which I presume to hopefully hit in a few years. 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. reddit Inc. I’ve read conflicting information on the down payment. You still have property taxes to pay, the HOA fees. 50 votes, 24 comments. Press J to jump to the feed. You had your wits about you in the ’90s dude. At $60k/yr that gets you $2000/mo in debt payments. This is going up from 35k, however my current insurance is cheaper, and the new job has a mandatory state education retirement, so according to my calculations, I’ll net about 50% more after taxes, insurance cost increase, etc. Again, at $60k/yr that’s $1500/mo. Wife to share in 46383, and surrounding areas. Gun-ownership through a liberal lens. However, like I said, you really don’t have to worry about anyone else. Thanks! 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. Fedilab is a multifunctional Android client to access the distributed Fediverse. Because even when you sell the house later you’re just going to take that money and put it into another downpayment. 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. Long-time contributor Cheeseness has put together a poster and an introductory video to celebrate the release. I bought it new. However, I’m not sure how much house I will be able to afford. Never owned a home before, trying to figure out a budget. As long as nothing goes wrong until settlement, it will be a great investment. The vehicle payment is the same whether you owe three years or three months. I plan to commute the first 6-12 months and take every spare penny and pay those off. Thinktank predicts half will be renting in their 40s and a third ‘by time they claim pensions You can do work yourself or look around for the best deal. But I will definitely be considering it as I don’t want to over extend. 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. Pay off vehicle, then hammer the CC... Then save for the house down payment. Many have washers and dryers. Thanks for the insight! The CC minimum payment to keep a good credit score goes down as the balance gets paid down, which gives you flexibility.