Menu

Home › Forums › Housing › I’m too old to own a home

Viewing 15 posts - 31 through 45 (of 136 total)
1 2 3 4 … 8 9 10
  • Author
    Posts
  • May 10, 2009 at 9:55 PM #396872
    Coronita
    Participant

    [quote=scaredycat]ok, but im actually disciplined and good about saving money, or at least i ahve been for the last 7 years or so since i started making some. the problem is, what is this money for? why am i saving it. well, for security. And how was i going to be more secure? by buying a house, that was the plan. but by the time i had enough, i felt prices were dumb. and now i’ve completely overthought everything. I was saving money to buya hosue to be mroe secue but concluded that spending the money to buya house would make me less secure so i have the money saved…now, for nothing really, except for if disaster strikes. or maybe as insurance against future rent increases???[/quote]

    Do you have kids?

    May 10, 2009 at 9:58 PM #396205
    FormerOwner
    Participant

    Scaredycat, I agree with most of what you said but when I do that math now, it’s cheaper for me to buy than rent. Even though I’ve been a real estate bear for over 5 years, I’m going to seriously start house hunting in Temecula this fall and I’ll probably once again be a home debtor by the end of 2009. I don’t have any delusions about home ownership – it just has gotten to the point where it pencils out for me to buy. I’ve owned two homes in the past but currently I’m a renter. I’m going to wait for the spring/summer buying frenzy to peter out then I’ll strike. I don’t really care if I ever pay off my mortgage or not – although I certainly hope I live long enough to pay it off! I just want to live in a place I like at a competitive cost that I can afford.

    One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.

    Another conclusion I’ve come to is that, yes, the real estate market is rigged but I’m not going to change that – I just have to work within the system that exists and make the most of it. Our money is basically worthless anyway so everything else in our economy is really just a matter of playing the game. I don’t feel that I can outsmart the gubment or the power brokers.

    May 10, 2009 at 9:58 PM #396457
    FormerOwner
    Participant

    Scaredycat, I agree with most of what you said but when I do that math now, it’s cheaper for me to buy than rent. Even though I’ve been a real estate bear for over 5 years, I’m going to seriously start house hunting in Temecula this fall and I’ll probably once again be a home debtor by the end of 2009. I don’t have any delusions about home ownership – it just has gotten to the point where it pencils out for me to buy. I’ve owned two homes in the past but currently I’m a renter. I’m going to wait for the spring/summer buying frenzy to peter out then I’ll strike. I don’t really care if I ever pay off my mortgage or not – although I certainly hope I live long enough to pay it off! I just want to live in a place I like at a competitive cost that I can afford.

    One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.

    Another conclusion I’ve come to is that, yes, the real estate market is rigged but I’m not going to change that – I just have to work within the system that exists and make the most of it. Our money is basically worthless anyway so everything else in our economy is really just a matter of playing the game. I don’t feel that I can outsmart the gubment or the power brokers.

    May 10, 2009 at 9:58 PM #396679
    FormerOwner
    Participant

    Scaredycat, I agree with most of what you said but when I do that math now, it’s cheaper for me to buy than rent. Even though I’ve been a real estate bear for over 5 years, I’m going to seriously start house hunting in Temecula this fall and I’ll probably once again be a home debtor by the end of 2009. I don’t have any delusions about home ownership – it just has gotten to the point where it pencils out for me to buy. I’ve owned two homes in the past but currently I’m a renter. I’m going to wait for the spring/summer buying frenzy to peter out then I’ll strike. I don’t really care if I ever pay off my mortgage or not – although I certainly hope I live long enough to pay it off! I just want to live in a place I like at a competitive cost that I can afford.

    One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.

    Another conclusion I’ve come to is that, yes, the real estate market is rigged but I’m not going to change that – I just have to work within the system that exists and make the most of it. Our money is basically worthless anyway so everything else in our economy is really just a matter of playing the game. I don’t feel that I can outsmart the gubment or the power brokers.

    May 10, 2009 at 9:58 PM #396735
    FormerOwner
    Participant

    Scaredycat, I agree with most of what you said but when I do that math now, it’s cheaper for me to buy than rent. Even though I’ve been a real estate bear for over 5 years, I’m going to seriously start house hunting in Temecula this fall and I’ll probably once again be a home debtor by the end of 2009. I don’t have any delusions about home ownership – it just has gotten to the point where it pencils out for me to buy. I’ve owned two homes in the past but currently I’m a renter. I’m going to wait for the spring/summer buying frenzy to peter out then I’ll strike. I don’t really care if I ever pay off my mortgage or not – although I certainly hope I live long enough to pay it off! I just want to live in a place I like at a competitive cost that I can afford.

    One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.

    Another conclusion I’ve come to is that, yes, the real estate market is rigged but I’m not going to change that – I just have to work within the system that exists and make the most of it. Our money is basically worthless anyway so everything else in our economy is really just a matter of playing the game. I don’t feel that I can outsmart the gubment or the power brokers.

    May 10, 2009 at 9:58 PM #396877
    FormerOwner
    Participant

    Scaredycat, I agree with most of what you said but when I do that math now, it’s cheaper for me to buy than rent. Even though I’ve been a real estate bear for over 5 years, I’m going to seriously start house hunting in Temecula this fall and I’ll probably once again be a home debtor by the end of 2009. I don’t have any delusions about home ownership – it just has gotten to the point where it pencils out for me to buy. I’ve owned two homes in the past but currently I’m a renter. I’m going to wait for the spring/summer buying frenzy to peter out then I’ll strike. I don’t really care if I ever pay off my mortgage or not – although I certainly hope I live long enough to pay it off! I just want to live in a place I like at a competitive cost that I can afford.

    One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.

    Another conclusion I’ve come to is that, yes, the real estate market is rigged but I’m not going to change that – I just have to work within the system that exists and make the most of it. Our money is basically worthless anyway so everything else in our economy is really just a matter of playing the game. I don’t feel that I can outsmart the gubment or the power brokers.

    May 10, 2009 at 10:12 PM #396220
    temeculaguy
    Participant

    I’m with peter and flu, get something cheaper and get a 15 yr.

    1 in 3 American homeowners has no mortgage on their home right now. Plan to not be the other two.

    Having lots of extra cash when you are retired will make it more fun.

    May 10, 2009 at 10:12 PM #396472
    temeculaguy
    Participant

    I’m with peter and flu, get something cheaper and get a 15 yr.

    1 in 3 American homeowners has no mortgage on their home right now. Plan to not be the other two.

    Having lots of extra cash when you are retired will make it more fun.

    May 10, 2009 at 10:12 PM #396694
    temeculaguy
    Participant

    I’m with peter and flu, get something cheaper and get a 15 yr.

    1 in 3 American homeowners has no mortgage on their home right now. Plan to not be the other two.

    Having lots of extra cash when you are retired will make it more fun.

    May 10, 2009 at 10:12 PM #396750
    temeculaguy
    Participant

    I’m with peter and flu, get something cheaper and get a 15 yr.

    1 in 3 American homeowners has no mortgage on their home right now. Plan to not be the other two.

    Having lots of extra cash when you are retired will make it more fun.

    May 10, 2009 at 10:12 PM #396892
    temeculaguy
    Participant

    I’m with peter and flu, get something cheaper and get a 15 yr.

    1 in 3 American homeowners has no mortgage on their home right now. Plan to not be the other two.

    Having lots of extra cash when you are retired will make it more fun.

    May 10, 2009 at 10:53 PM #396240
    NotCranky
    Participant

    Another alternative is to buy a cash flow rental that you and your wife could live in as empty nesters. The tenants pay for it over those years and by the time you move in,it will be a cheap place to live and partially paid off.Presumably it will also be cheaper than the house you are renting for an entire family, so if things were to go south with your earnings and savings you could downsize into your own home.
    If it works out get a few more and then buy a nice house with payment assistance from the cash flow.

    May 10, 2009 at 10:53 PM #396492
    NotCranky
    Participant

    Another alternative is to buy a cash flow rental that you and your wife could live in as empty nesters. The tenants pay for it over those years and by the time you move in,it will be a cheap place to live and partially paid off.Presumably it will also be cheaper than the house you are renting for an entire family, so if things were to go south with your earnings and savings you could downsize into your own home.
    If it works out get a few more and then buy a nice house with payment assistance from the cash flow.

    May 10, 2009 at 10:53 PM #396714
    NotCranky
    Participant

    Another alternative is to buy a cash flow rental that you and your wife could live in as empty nesters. The tenants pay for it over those years and by the time you move in,it will be a cheap place to live and partially paid off.Presumably it will also be cheaper than the house you are renting for an entire family, so if things were to go south with your earnings and savings you could downsize into your own home.
    If it works out get a few more and then buy a nice house with payment assistance from the cash flow.

    May 10, 2009 at 10:53 PM #396770
    NotCranky
    Participant

    Another alternative is to buy a cash flow rental that you and your wife could live in as empty nesters. The tenants pay for it over those years and by the time you move in,it will be a cheap place to live and partially paid off.Presumably it will also be cheaper than the house you are renting for an entire family, so if things were to go south with your earnings and savings you could downsize into your own home.
    If it works out get a few more and then buy a nice house with payment assistance from the cash flow.

  • Author
    Posts
Viewing 15 posts - 31 through 45 (of 136 total)
1 2 3 4 … 8 9 10
  • You must be logged in to reply to this topic.