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scaredyclassic.
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September 10, 2010 at 1:18 PM #604515September 10, 2010 at 1:41 PM #603484
(former)FormerSanDiegan
Participant[quote=walterwhite]no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract[/quote]
Financing 12K @ 4% will cost you $20,624.26 over the life of the loan.
The amount in question is roughly equivalent to about 3/16% rate difference on your loan (assuming 500K loan range).
Rates move by 1/8 point randomly. Personally I would sacrifice 2% on price to have more control over my loan on 80% of the purchase price. Just my advice.
September 10, 2010 at 1:41 PM #603572Participant[quote=walterwhite]no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract[/quote]
Financing 12K @ 4% will cost you $20,624.26 over the life of the loan.
The amount in question is roughly equivalent to about 3/16% rate difference on your loan (assuming 500K loan range).
Rates move by 1/8 point randomly. Personally I would sacrifice 2% on price to have more control over my loan on 80% of the purchase price. Just my advice.
September 10, 2010 at 1:41 PM #604121Participant[quote=walterwhite]no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract[/quote]
Financing 12K @ 4% will cost you $20,624.26 over the life of the loan.
The amount in question is roughly equivalent to about 3/16% rate difference on your loan (assuming 500K loan range).
Rates move by 1/8 point randomly. Personally I would sacrifice 2% on price to have more control over my loan on 80% of the purchase price. Just my advice.
September 10, 2010 at 1:41 PM #604228Participant[quote=walterwhite]no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract[/quote]
Financing 12K @ 4% will cost you $20,624.26 over the life of the loan.
The amount in question is roughly equivalent to about 3/16% rate difference on your loan (assuming 500K loan range).
Rates move by 1/8 point randomly. Personally I would sacrifice 2% on price to have more control over my loan on 80% of the purchase price. Just my advice.
September 10, 2010 at 1:41 PM #604545Participant[quote=walterwhite]no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract[/quote]
Financing 12K @ 4% will cost you $20,624.26 over the life of the loan.
The amount in question is roughly equivalent to about 3/16% rate difference on your loan (assuming 500K loan range).
Rates move by 1/8 point randomly. Personally I would sacrifice 2% on price to have more control over my loan on 80% of the purchase price. Just my advice.
September 10, 2010 at 1:42 PM #603469
CoronitaParticipant[quote=walterwhite]my wife is realistic. She thinks it’s not worth what we’re offering but she likes it. She has concluded that you ahve to pay more than you think a house is worth in order to get it. She says i should get over it and just resolve myself to the reality that if i’m going to buya place, we have topay more than it really should be priced in a rational universe.[/quote]
scardey,
If you piss your spouse off over 2%, I’m pretty confident the divorce will cost you more than 2%. Plus “getting some” afterwards will cost you more now that craiglist isn’t an option…
Come on you’re an attorney for Christ sake. Just bill out your client a few extra 15 minute increments.
Shit, my attorney at one point billed me $125 for each email she responded to (took probably 15 minutes of her time…), $75 for a paralegal to make a copy of documents, etc, full rate for time she spent waiting in court,etc,etc,etc. You know how this game goes…
You’re getting worked up over 2%??? pfffffff!
Get your own lender, and counter with something halfway in between. If you get it great, if not don’t sweat it. Just cut your expenses somewhere else (like a home improvement..and trust me, there will be some……Dude, the money pit doesn’t end at the time of purchase…..)
Just make sure that there’s a clear understanding that if you do pay that extra 2%, that the contract with said spouse also includes “getting some on demand”….
I’m pretty impressed with your analysis to paralysis syndrome…I thought it only happens with folks with PHD’s….Didn’t think it happens with attorneys….
🙂
September 10, 2010 at 1:42 PM #603557CoronitaParticipant[quote=walterwhite]my wife is realistic. She thinks it’s not worth what we’re offering but she likes it. She has concluded that you ahve to pay more than you think a house is worth in order to get it. She says i should get over it and just resolve myself to the reality that if i’m going to buya place, we have topay more than it really should be priced in a rational universe.[/quote]
scardey,
If you piss your spouse off over 2%, I’m pretty confident the divorce will cost you more than 2%. Plus “getting some” afterwards will cost you more now that craiglist isn’t an option…
Come on you’re an attorney for Christ sake. Just bill out your client a few extra 15 minute increments.
Shit, my attorney at one point billed me $125 for each email she responded to (took probably 15 minutes of her time…), $75 for a paralegal to make a copy of documents, etc, full rate for time she spent waiting in court,etc,etc,etc. You know how this game goes…
You’re getting worked up over 2%??? pfffffff!
Get your own lender, and counter with something halfway in between. If you get it great, if not don’t sweat it. Just cut your expenses somewhere else (like a home improvement..and trust me, there will be some……Dude, the money pit doesn’t end at the time of purchase…..)
Just make sure that there’s a clear understanding that if you do pay that extra 2%, that the contract with said spouse also includes “getting some on demand”….
I’m pretty impressed with your analysis to paralysis syndrome…I thought it only happens with folks with PHD’s….Didn’t think it happens with attorneys….
🙂
September 10, 2010 at 1:42 PM #604106CoronitaParticipant[quote=walterwhite]my wife is realistic. She thinks it’s not worth what we’re offering but she likes it. She has concluded that you ahve to pay more than you think a house is worth in order to get it. She says i should get over it and just resolve myself to the reality that if i’m going to buya place, we have topay more than it really should be priced in a rational universe.[/quote]
scardey,
If you piss your spouse off over 2%, I’m pretty confident the divorce will cost you more than 2%. Plus “getting some” afterwards will cost you more now that craiglist isn’t an option…
Come on you’re an attorney for Christ sake. Just bill out your client a few extra 15 minute increments.
Shit, my attorney at one point billed me $125 for each email she responded to (took probably 15 minutes of her time…), $75 for a paralegal to make a copy of documents, etc, full rate for time she spent waiting in court,etc,etc,etc. You know how this game goes…
You’re getting worked up over 2%??? pfffffff!
Get your own lender, and counter with something halfway in between. If you get it great, if not don’t sweat it. Just cut your expenses somewhere else (like a home improvement..and trust me, there will be some……Dude, the money pit doesn’t end at the time of purchase…..)
Just make sure that there’s a clear understanding that if you do pay that extra 2%, that the contract with said spouse also includes “getting some on demand”….
I’m pretty impressed with your analysis to paralysis syndrome…I thought it only happens with folks with PHD’s….Didn’t think it happens with attorneys….
🙂
September 10, 2010 at 1:42 PM #604213CoronitaParticipant[quote=walterwhite]my wife is realistic. She thinks it’s not worth what we’re offering but she likes it. She has concluded that you ahve to pay more than you think a house is worth in order to get it. She says i should get over it and just resolve myself to the reality that if i’m going to buya place, we have topay more than it really should be priced in a rational universe.[/quote]
scardey,
If you piss your spouse off over 2%, I’m pretty confident the divorce will cost you more than 2%. Plus “getting some” afterwards will cost you more now that craiglist isn’t an option…
Come on you’re an attorney for Christ sake. Just bill out your client a few extra 15 minute increments.
Shit, my attorney at one point billed me $125 for each email she responded to (took probably 15 minutes of her time…), $75 for a paralegal to make a copy of documents, etc, full rate for time she spent waiting in court,etc,etc,etc. You know how this game goes…
You’re getting worked up over 2%??? pfffffff!
Get your own lender, and counter with something halfway in between. If you get it great, if not don’t sweat it. Just cut your expenses somewhere else (like a home improvement..and trust me, there will be some……Dude, the money pit doesn’t end at the time of purchase…..)
Just make sure that there’s a clear understanding that if you do pay that extra 2%, that the contract with said spouse also includes “getting some on demand”….
I’m pretty impressed with your analysis to paralysis syndrome…I thought it only happens with folks with PHD’s….Didn’t think it happens with attorneys….
🙂
September 10, 2010 at 1:42 PM #604530CoronitaParticipant[quote=walterwhite]my wife is realistic. She thinks it’s not worth what we’re offering but she likes it. She has concluded that you ahve to pay more than you think a house is worth in order to get it. She says i should get over it and just resolve myself to the reality that if i’m going to buya place, we have topay more than it really should be priced in a rational universe.[/quote]
scardey,
If you piss your spouse off over 2%, I’m pretty confident the divorce will cost you more than 2%. Plus “getting some” afterwards will cost you more now that craiglist isn’t an option…
Come on you’re an attorney for Christ sake. Just bill out your client a few extra 15 minute increments.
Shit, my attorney at one point billed me $125 for each email she responded to (took probably 15 minutes of her time…), $75 for a paralegal to make a copy of documents, etc, full rate for time she spent waiting in court,etc,etc,etc. You know how this game goes…
You’re getting worked up over 2%??? pfffffff!
Get your own lender, and counter with something halfway in between. If you get it great, if not don’t sweat it. Just cut your expenses somewhere else (like a home improvement..and trust me, there will be some……Dude, the money pit doesn’t end at the time of purchase…..)
Just make sure that there’s a clear understanding that if you do pay that extra 2%, that the contract with said spouse also includes “getting some on demand”….
I’m pretty impressed with your analysis to paralysis syndrome…I thought it only happens with folks with PHD’s….Didn’t think it happens with attorneys….
🙂
September 10, 2010 at 1:57 PM #603489Participant[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]
FWIW, I assumed it was for 10-20% down, when I posed the question.
But, your point is taken. A refinement for what was my simple point: If for $X down you can finance for ~ same as rent. Then in 30 years you will have essentially bought the house for the $X down (in 2010 dollars).
September 10, 2010 at 1:57 PM #603577Participant[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]
FWIW, I assumed it was for 10-20% down, when I posed the question.
But, your point is taken. A refinement for what was my simple point: If for $X down you can finance for ~ same as rent. Then in 30 years you will have essentially bought the house for the $X down (in 2010 dollars).
September 10, 2010 at 1:57 PM #604126Participant[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]
FWIW, I assumed it was for 10-20% down, when I posed the question.
But, your point is taken. A refinement for what was my simple point: If for $X down you can finance for ~ same as rent. Then in 30 years you will have essentially bought the house for the $X down (in 2010 dollars).
September 10, 2010 at 1:57 PM #604233Participant[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]
FWIW, I assumed it was for 10-20% down, when I posed the question.
But, your point is taken. A refinement for what was my simple point: If for $X down you can finance for ~ same as rent. Then in 30 years you will have essentially bought the house for the $X down (in 2010 dollars).
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