How shall we buy our first house?

[Scarlett]

Good point, sdduuude! Esp. about the higher rates and lower prices. That’s what we are waiting for. Seriously, are they going to ever let those rates go really UP? When?

How much you assign for maintenance, let’s say for a year 1970s, 80s or 90s house?

[sdrealtor]

[quote=bearishgurl][quote=captcha][quote=AN]Snowboarding/skiing is not a cheap sport…[/quote]
Unless you live 30 minutes from a resort :)[/quote]

hijack: I plan on living in town in South Tahoe on the free bus line to Heavenly. A season pass purchased the previous summer is $359. Of course, you take your chances with an early purchase that it will be a bad season. But with the lift-ticket prices of today, $359 = only 4 days of skiing. It would have to be a REALLY bad year not to be able to get in at least 4 full days of skiing! A multi-resort season pass issued by Vail Resorts (purchased the previous summer) is about $599. This will get you unlimited lift privileges at Heavenly, Vail, Beaver Creek, Breckenridge, Keystone and Northstar at Tahoe. Colorado very rarely has bad ski seasons and the Vail Resort pass is a GREAT deal if you can afford to travel! That’s enough resorts for anyone to ski in any season :=]

The biggest expenses of skiing in order of amount are: lodging, per-diem food (if eating at restaurants on the mtn or otherwise), lift tix, convenient parking and locker rental midway (if packing lunch). $8-$10 day lockers can be rented by the season for about $100 (or about $150 for ski-length lockers).

A “local” residing at South Tahoe pays $359 season for a season lift pass plus locker rental of their choice :=)

There are quite a few 40-55 year-old SFR’s there, situated on 6K to 14K lots right in town that are currently listed for $175K to $350K.

[end of hijack][/quote]

BG
Could you please repeat your retirement plans in detail again. You’ve posted them at least 20 times but I dont think any of us get tehm yet. perhaps another 20 or 30 times will do it.

[sdrealtor]

[quote=bearishgurl][quote=captcha][quote=AN]Snowboarding/skiing is not a cheap sport…[/quote]
Unless you live 30 minutes from a resort :)[/quote]

hijack: I plan on living in town in South Tahoe on the free bus line to Heavenly. A season pass purchased the previous summer is $359. Of course, you take your chances with an early purchase that it will be a bad season. But with the lift-ticket prices of today, $359 = only 4 days of skiing. It would have to be a REALLY bad year not to be able to get in at least 4 full days of skiing! A multi-resort season pass issued by Vail Resorts (purchased the previous summer) is about $599. This will get you unlimited lift privileges at Heavenly, Vail, Beaver Creek, Breckenridge, Keystone and Northstar at Tahoe. Colorado very rarely has bad ski seasons and the Vail Resort pass is a GREAT deal if you can afford to travel! That’s enough resorts for anyone to ski in any season :=]

The biggest expenses of skiing in order of amount are: lodging, per-diem food (if eating at restaurants on the mtn or otherwise), lift tix, convenient parking and locker rental midway (if packing lunch). $8-$10 day lockers can be rented by the season for about $100 (or about $150 for ski-length lockers).

A “local” residing at South Tahoe pays $359 season for a season lift pass plus locker rental of their choice :=)

There are quite a few 40-55 year-old SFR’s there, situated on 6K to 14K lots right in town that are currently listed for $175K to $350K.

[end of hijack][/quote]

BG
Could you please repeat your retirement plans in detail again. You’ve posted them at least 20 times but I dont think any of us get tehm yet. perhaps another 20 or 30 times will do it.

[sdrealtor]

[quote=bearishgurl][quote=captcha][quote=AN]Snowboarding/skiing is not a cheap sport…[/quote]
Unless you live 30 minutes from a resort :)[/quote]

hijack: I plan on living in town in South Tahoe on the free bus line to Heavenly. A season pass purchased the previous summer is $359. Of course, you take your chances with an early purchase that it will be a bad season. But with the lift-ticket prices of today, $359 = only 4 days of skiing. It would have to be a REALLY bad year not to be able to get in at least 4 full days of skiing! A multi-resort season pass issued by Vail Resorts (purchased the previous summer) is about $599. This will get you unlimited lift privileges at Heavenly, Vail, Beaver Creek, Breckenridge, Keystone and Northstar at Tahoe. Colorado very rarely has bad ski seasons and the Vail Resort pass is a GREAT deal if you can afford to travel! That’s enough resorts for anyone to ski in any season :=]

The biggest expenses of skiing in order of amount are: lodging, per-diem food (if eating at restaurants on the mtn or otherwise), lift tix, convenient parking and locker rental midway (if packing lunch). $8-$10 day lockers can be rented by the season for about $100 (or about $150 for ski-length lockers).

A “local” residing at South Tahoe pays $359 season for a season lift pass plus locker rental of their choice :=)

There are quite a few 40-55 year-old SFR’s there, situated on 6K to 14K lots right in town that are currently listed for $175K to $350K.

[end of hijack][/quote]

BG
Could you please repeat your retirement plans in detail again. You’ve posted them at least 20 times but I dont think any of us get tehm yet. perhaps another 20 or 30 times will do it.

[sdrealtor]

[quote=bearishgurl][quote=captcha][quote=AN]Snowboarding/skiing is not a cheap sport…[/quote]
Unless you live 30 minutes from a resort :)[/quote]

hijack: I plan on living in town in South Tahoe on the free bus line to Heavenly. A season pass purchased the previous summer is $359. Of course, you take your chances with an early purchase that it will be a bad season. But with the lift-ticket prices of today, $359 = only 4 days of skiing. It would have to be a REALLY bad year not to be able to get in at least 4 full days of skiing! A multi-resort season pass issued by Vail Resorts (purchased the previous summer) is about $599. This will get you unlimited lift privileges at Heavenly, Vail, Beaver Creek, Breckenridge, Keystone and Northstar at Tahoe. Colorado very rarely has bad ski seasons and the Vail Resort pass is a GREAT deal if you can afford to travel! That’s enough resorts for anyone to ski in any season :=]

The biggest expenses of skiing in order of amount are: lodging, per-diem food (if eating at restaurants on the mtn or otherwise), lift tix, convenient parking and locker rental midway (if packing lunch). $8-$10 day lockers can be rented by the season for about $100 (or about $150 for ski-length lockers).

A “local” residing at South Tahoe pays $359 season for a season lift pass plus locker rental of their choice :=)

There are quite a few 40-55 year-old SFR’s there, situated on 6K to 14K lots right in town that are currently listed for $175K to $350K.

[end of hijack][/quote]

BG
Could you please repeat your retirement plans in detail again. You’ve posted them at least 20 times but I dont think any of us get tehm yet. perhaps another 20 or 30 times will do it.

[sdrealtor]

[quote=bearishgurl][quote=captcha][quote=AN]Snowboarding/skiing is not a cheap sport…[/quote]
Unless you live 30 minutes from a resort :)[/quote]

hijack: I plan on living in town in South Tahoe on the free bus line to Heavenly. A season pass purchased the previous summer is $359. Of course, you take your chances with an early purchase that it will be a bad season. But with the lift-ticket prices of today, $359 = only 4 days of skiing. It would have to be a REALLY bad year not to be able to get in at least 4 full days of skiing! A multi-resort season pass issued by Vail Resorts (purchased the previous summer) is about $599. This will get you unlimited lift privileges at Heavenly, Vail, Beaver Creek, Breckenridge, Keystone and Northstar at Tahoe. Colorado very rarely has bad ski seasons and the Vail Resort pass is a GREAT deal if you can afford to travel! That’s enough resorts for anyone to ski in any season :=]

The biggest expenses of skiing in order of amount are: lodging, per-diem food (if eating at restaurants on the mtn or otherwise), lift tix, convenient parking and locker rental midway (if packing lunch). $8-$10 day lockers can be rented by the season for about $100 (or about $150 for ski-length lockers).

A “local” residing at South Tahoe pays $359 season for a season lift pass plus locker rental of their choice :=)

There are quite a few 40-55 year-old SFR’s there, situated on 6K to 14K lots right in town that are currently listed for $175K to $350K.

[end of hijack][/quote]

BG
Could you please repeat your retirement plans in detail again. You’ve posted them at least 20 times but I dont think any of us get tehm yet. perhaps another 20 or 30 times will do it.

[all]

[quote=AN]
Please tell me, what’s more expensive, renting a cabin and share w/ a group of friends or the lift tickets, boards, boots, bindings, jacket, pants, etc. Even if you don’t have to rent a place, how much does it cost to buy the gear and getting lift tickets at a nice mountain?[/quote]

You can get barely used parabolic skis/bindings/boots/poles for under $200. Another $200 for all new jacket, pants, socks, gloves… for $500 you can get the equipment that should last you 5+ years. Another $500 will get you the annual pass at most places, if you know when and where to buy (since you are near-local you will know when and where to buy). Or if you like the snow that much you can sign up as an instructor and ride for free.

[all]

[quote=AN]
Please tell me, what’s more expensive, renting a cabin and share w/ a group of friends or the lift tickets, boards, boots, bindings, jacket, pants, etc. Even if you don’t have to rent a place, how much does it cost to buy the gear and getting lift tickets at a nice mountain?[/quote]

You can get barely used parabolic skis/bindings/boots/poles for under $200. Another $200 for all new jacket, pants, socks, gloves… for $500 you can get the equipment that should last you 5+ years. Another $500 will get you the annual pass at most places, if you know when and where to buy (since you are near-local you will know when and where to buy). Or if you like the snow that much you can sign up as an instructor and ride for free.

[all]

[quote=AN]
Please tell me, what’s more expensive, renting a cabin and share w/ a group of friends or the lift tickets, boards, boots, bindings, jacket, pants, etc. Even if you don’t have to rent a place, how much does it cost to buy the gear and getting lift tickets at a nice mountain?[/quote]

You can get barely used parabolic skis/bindings/boots/poles for under $200. Another $200 for all new jacket, pants, socks, gloves… for $500 you can get the equipment that should last you 5+ years. Another $500 will get you the annual pass at most places, if you know when and where to buy (since you are near-local you will know when and where to buy). Or if you like the snow that much you can sign up as an instructor and ride for free.

[all]

[quote=AN]
Please tell me, what’s more expensive, renting a cabin and share w/ a group of friends or the lift tickets, boards, boots, bindings, jacket, pants, etc. Even if you don’t have to rent a place, how much does it cost to buy the gear and getting lift tickets at a nice mountain?[/quote]

You can get barely used parabolic skis/bindings/boots/poles for under $200. Another $200 for all new jacket, pants, socks, gloves… for $500 you can get the equipment that should last you 5+ years. Another $500 will get you the annual pass at most places, if you know when and where to buy (since you are near-local you will know when and where to buy). Or if you like the snow that much you can sign up as an instructor and ride for free.

[all]

[quote=AN]
Please tell me, what’s more expensive, renting a cabin and share w/ a group of friends or the lift tickets, boards, boots, bindings, jacket, pants, etc. Even if you don’t have to rent a place, how much does it cost to buy the gear and getting lift tickets at a nice mountain?[/quote]

You can get barely used parabolic skis/bindings/boots/poles for under $200. Another $200 for all new jacket, pants, socks, gloves… for $500 you can get the equipment that should last you 5+ years. Another $500 will get you the annual pass at most places, if you know when and where to buy (since you are near-local you will know when and where to buy). Or if you like the snow that much you can sign up as an instructor and ride for free.

[(former)FormerSanDiegan]

[quote=Scarlett]

I thought it was $3200. Anyhow, $900 difference wouldn’t be a modest car payment. $400-500 would be. My 3 yr loan payments on a new Accord are close to $700/mo. It’s true about the 401k loan, that it goes back to him eventually; I was thinking about his cash flow.[/quote]

2400 + 450 + 250 = 3100. But I won’t squabbnle over $100.

You should consider that you account for the $250 you are paying yourself back, plus the fact that you are paying down over $500 per month in principal.

It’s true that both of the impact cash flow, so he does need to make sure he can handle this.
But when comparing to rent, both the 401k loan and principal paydown are zero net change to net worth and should be considered as such.

The 401K loan is simply a transfer of funds from one account (his checking account) to another account (his 401k). This is a zero change in net worth.

That brings the comparison down to …
Own: 2850
Rent : 2200

The difference ($650) is less than your new Accord payment. If you consider that he would be paying down principal at $500 per month (in the first year). It is really a modest difference in cost compared to renting (using change in net worth as the cost).

Consider what happens over 5 years :
In 5 years, rent is likely to have increased by a couple hundred bucks. The principal paydown would be nearly $700 per month.

Consider what happens over 7 years:
In 7 years, rent will likely have increased by 250 bucks a month. The principal paydown would be about $750 per month and PMI could be removed as the loan would drop below the threshold for PMI removal. At that point his monthly cost could be considerably cheaper than rent. All this assumes zero net change in house price over the next 7 years.

[(former)FormerSanDiegan]

[quote=Scarlett]

I thought it was $3200. Anyhow, $900 difference wouldn’t be a modest car payment. $400-500 would be. My 3 yr loan payments on a new Accord are close to $700/mo. It’s true about the 401k loan, that it goes back to him eventually; I was thinking about his cash flow.[/quote]

2400 + 450 + 250 = 3100. But I won’t squabbnle over $100.

You should consider that you account for the $250 you are paying yourself back, plus the fact that you are paying down over $500 per month in principal.

It’s true that both of the impact cash flow, so he does need to make sure he can handle this.
But when comparing to rent, both the 401k loan and principal paydown are zero net change to net worth and should be considered as such.

The 401K loan is simply a transfer of funds from one account (his checking account) to another account (his 401k). This is a zero change in net worth.

That brings the comparison down to …
Own: 2850
Rent : 2200

The difference ($650) is less than your new Accord payment. If you consider that he would be paying down principal at $500 per month (in the first year). It is really a modest difference in cost compared to renting (using change in net worth as the cost).

Consider what happens over 5 years :
In 5 years, rent is likely to have increased by a couple hundred bucks. The principal paydown would be nearly $700 per month.

Consider what happens over 7 years:
In 7 years, rent will likely have increased by 250 bucks a month. The principal paydown would be about $750 per month and PMI could be removed as the loan would drop below the threshold for PMI removal. At that point his monthly cost could be considerably cheaper than rent. All this assumes zero net change in house price over the next 7 years.

[(former)FormerSanDiegan]

[quote=Scarlett]

I thought it was $3200. Anyhow, $900 difference wouldn’t be a modest car payment. $400-500 would be. My 3 yr loan payments on a new Accord are close to $700/mo. It’s true about the 401k loan, that it goes back to him eventually; I was thinking about his cash flow.[/quote]

2400 + 450 + 250 = 3100. But I won’t squabbnle over $100.

You should consider that you account for the $250 you are paying yourself back, plus the fact that you are paying down over $500 per month in principal.

It’s true that both of the impact cash flow, so he does need to make sure he can handle this.
But when comparing to rent, both the 401k loan and principal paydown are zero net change to net worth and should be considered as such.

The 401K loan is simply a transfer of funds from one account (his checking account) to another account (his 401k). This is a zero change in net worth.

That brings the comparison down to …
Own: 2850
Rent : 2200

The difference ($650) is less than your new Accord payment. If you consider that he would be paying down principal at $500 per month (in the first year). It is really a modest difference in cost compared to renting (using change in net worth as the cost).

Consider what happens over 5 years :
In 5 years, rent is likely to have increased by a couple hundred bucks. The principal paydown would be nearly $700 per month.

Consider what happens over 7 years:
In 7 years, rent will likely have increased by 250 bucks a month. The principal paydown would be about $750 per month and PMI could be removed as the loan would drop below the threshold for PMI removal. At that point his monthly cost could be considerably cheaper than rent. All this assumes zero net change in house price over the next 7 years.

[(former)FormerSanDiegan]

[quote=Scarlett]

I thought it was $3200. Anyhow, $900 difference wouldn’t be a modest car payment. $400-500 would be. My 3 yr loan payments on a new Accord are close to $700/mo. It’s true about the 401k loan, that it goes back to him eventually; I was thinking about his cash flow.[/quote]

2400 + 450 + 250 = 3100. But I won’t squabbnle over $100.

You should consider that you account for the $250 you are paying yourself back, plus the fact that you are paying down over $500 per month in principal.

It’s true that both of the impact cash flow, so he does need to make sure he can handle this.
But when comparing to rent, both the 401k loan and principal paydown are zero net change to net worth and should be considered as such.

The 401K loan is simply a transfer of funds from one account (his checking account) to another account (his 401k). This is a zero change in net worth.

That brings the comparison down to …
Own: 2850
Rent : 2200

The difference ($650) is less than your new Accord payment. If you consider that he would be paying down principal at $500 per month (in the first year). It is really a modest difference in cost compared to renting (using change in net worth as the cost).

Consider what happens over 5 years :
In 5 years, rent is likely to have increased by a couple hundred bucks. The principal paydown would be nearly $700 per month.

Consider what happens over 7 years:
In 7 years, rent will likely have increased by 250 bucks a month. The principal paydown would be about $750 per month and PMI could be removed as the loan would drop below the threshold for PMI removal. At that point his monthly cost could be considerably cheaper than rent. All this assumes zero net change in house price over the next 7 years.

[Author]

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