[bluehairdave]

[quote=familyguy]Maybe just buying the basic home and upgrading it later is the way to go. More then likely you can get the built ins, flooring, baseboards, etc. much cheaper from a local business, and probably higher quality. Not to mention you don’t have to mortgage the cost of said upgrades over a 30 year period.

To do it over again i would have definitley done minimum builder upgrades and purchased them later as I had the extra cash as opposed to having them lumped into my mortgage. Live and learn I suppose.

Does anyone else see the logic in this approach, or am I missing something?[/quote]

This totally makes sense unless the builder is including them in your negotiated price like Serenity is doing. Its not adding to the cost of the house so you might as well use it. Toll Bros. on the other hand you would spend another 150k with them or you can fork out another 75k on your own AFTER you move in a have already placed a 200-240k Down payment. I looked at both and the Toll Bros is practically sight unseen with 2 models and is a good deal more expensive. Serenity is a very nice house and is plenty big for anyone. Win Win really for both but 100k+ is no small chump change and you get to live in a finished house.

Maybe in 2 years when the market is still depressed and Toll needs to move some houses they will also be giving away 75k in upgrades included in the negotiated price.

[bluehairdave]

[quote=familyguy]Maybe just buying the basic home and upgrading it later is the way to go. More then likely you can get the built ins, flooring, baseboards, etc. much cheaper from a local business, and probably higher quality. Not to mention you don’t have to mortgage the cost of said upgrades over a 30 year period.

To do it over again i would have definitley done minimum builder upgrades and purchased them later as I had the extra cash as opposed to having them lumped into my mortgage. Live and learn I suppose.

Does anyone else see the logic in this approach, or am I missing something?[/quote]

This totally makes sense unless the builder is including them in your negotiated price like Serenity is doing. Its not adding to the cost of the house so you might as well use it. Toll Bros. on the other hand you would spend another 150k with them or you can fork out another 75k on your own AFTER you move in a have already placed a 200-240k Down payment. I looked at both and the Toll Bros is practically sight unseen with 2 models and is a good deal more expensive. Serenity is a very nice house and is plenty big for anyone. Win Win really for both but 100k+ is no small chump change and you get to live in a finished house.

Maybe in 2 years when the market is still depressed and Toll needs to move some houses they will also be giving away 75k in upgrades included in the negotiated price.

[bluehairdave]

This and all the other ‘short sales’ in that area have been for sale for eons, rejected and they will not be sold for anywhere near those prices.

I visited Toll VIP and the houses look very nice but the best lots with best views arent until the mid to late phases. Also, its going to run about 75k-125k more for something similar in Serenity. I.E. view lot sq ft and same upgrades. Due to incentives offered by Serenity. Serenity is def. trying to finish off their sales and making deals. The landscaping is very nice and they did a top notch job with the underground and sprinkler systems and concrete.

For someone in the 1 mil+ range Toll Bros. will be a prefered option. For the 900-920k range Serenity. They wont have anything built until after Jan 2012 and EVERYTHING is an upgrade at Toll Bros. whereas Serenity has decent standard items the are really dealing out incentives to do the flooring and bathrooms etc to the nines all within your regular purchase price.

[bluehairdave]

This and all the other ‘short sales’ in that area have been for sale for eons, rejected and they will not be sold for anywhere near those prices.

I visited Toll VIP and the houses look very nice but the best lots with best views arent until the mid to late phases. Also, its going to run about 75k-125k more for something similar in Serenity. I.E. view lot sq ft and same upgrades. Due to incentives offered by Serenity. Serenity is def. trying to finish off their sales and making deals. The landscaping is very nice and they did a top notch job with the underground and sprinkler systems and concrete.

For someone in the 1 mil+ range Toll Bros. will be a prefered option. For the 900-920k range Serenity. They wont have anything built until after Jan 2012 and EVERYTHING is an upgrade at Toll Bros. whereas Serenity has decent standard items the are really dealing out incentives to do the flooring and bathrooms etc to the nines all within your regular purchase price.

[bluehairdave]

This and all the other ‘short sales’ in that area have been for sale for eons, rejected and they will not be sold for anywhere near those prices.

I visited Toll VIP and the houses look very nice but the best lots with best views arent until the mid to late phases. Also, its going to run about 75k-125k more for something similar in Serenity. I.E. view lot sq ft and same upgrades. Due to incentives offered by Serenity. Serenity is def. trying to finish off their sales and making deals. The landscaping is very nice and they did a top notch job with the underground and sprinkler systems and concrete.

For someone in the 1 mil+ range Toll Bros. will be a prefered option. For the 900-920k range Serenity. They wont have anything built until after Jan 2012 and EVERYTHING is an upgrade at Toll Bros. whereas Serenity has decent standard items the are really dealing out incentives to do the flooring and bathrooms etc to the nines all within your regular purchase price.

[bluehairdave]

This and all the other ‘short sales’ in that area have been for sale for eons, rejected and they will not be sold for anywhere near those prices.

I visited Toll VIP and the houses look very nice but the best lots with best views arent until the mid to late phases. Also, its going to run about 75k-125k more for something similar in Serenity. I.E. view lot sq ft and same upgrades. Due to incentives offered by Serenity. Serenity is def. trying to finish off their sales and making deals. The landscaping is very nice and they did a top notch job with the underground and sprinkler systems and concrete.

For someone in the 1 mil+ range Toll Bros. will be a prefered option. For the 900-920k range Serenity. They wont have anything built until after Jan 2012 and EVERYTHING is an upgrade at Toll Bros. whereas Serenity has decent standard items the are really dealing out incentives to do the flooring and bathrooms etc to the nines all within your regular purchase price.

[bluehairdave]

This and all the other ‘short sales’ in that area have been for sale for eons, rejected and they will not be sold for anywhere near those prices.

I visited Toll VIP and the houses look very nice but the best lots with best views arent until the mid to late phases. Also, its going to run about 75k-125k more for something similar in Serenity. I.E. view lot sq ft and same upgrades. Due to incentives offered by Serenity. Serenity is def. trying to finish off their sales and making deals. The landscaping is very nice and they did a top notch job with the underground and sprinkler systems and concrete.

For someone in the 1 mil+ range Toll Bros. will be a prefered option. For the 900-920k range Serenity. They wont have anything built until after Jan 2012 and EVERYTHING is an upgrade at Toll Bros. whereas Serenity has decent standard items the are really dealing out incentives to do the flooring and bathrooms etc to the nines all within your regular purchase price.

[bluehairdave]

[quote=deadzone][quote=bluehairdave][quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.[/quote]

Agreed on the security thing, I don’t think anyone would deny that. But unfortunately there are many folks who are deeply underwater on their houses and in many cases are paying mortgages up to 2x what it would take to rent the equivalent place next door. But they have too much stubborn pride to do the financially responsible thing which would be to walk away. I don’t think the home owndership dream is working out for them. They are basically slaves to their mortgage and have no hope of recovering.

So do you believe you can rent your place (you bought in 2007) and be cash flow positive? I cant see how you could unless you really got the steal of the century.[/quote]

Oh hell no!. Ill lost 1k a month after taxes etc. but while I dont qualify to deduct the loss I will still be able to write off the interest payments. But I am not going to stop moving forward with my life plan because of losing a little bit of money each month. I might just sell it and loose the 15k I am sure to loose. Average sit time in my neighborhood is about 60 days so they are moving and I know about what price I will get. I figured Id bleed 1k a month take the deductions and see whats up in a year. Might rent to my two buddies who fix up houses and have them pimp out the pad while they are here for cheaper rent.

Its sure not foolproof but I need a bigger pad and better school system. SD Unified is a joke.

[bluehairdave]

[quote=deadzone][quote=bluehairdave][quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.[/quote]

Agreed on the security thing, I don’t think anyone would deny that. But unfortunately there are many folks who are deeply underwater on their houses and in many cases are paying mortgages up to 2x what it would take to rent the equivalent place next door. But they have too much stubborn pride to do the financially responsible thing which would be to walk away. I don’t think the home owndership dream is working out for them. They are basically slaves to their mortgage and have no hope of recovering.

So do you believe you can rent your place (you bought in 2007) and be cash flow positive? I cant see how you could unless you really got the steal of the century.[/quote]

Oh hell no!. Ill lost 1k a month after taxes etc. but while I dont qualify to deduct the loss I will still be able to write off the interest payments. But I am not going to stop moving forward with my life plan because of losing a little bit of money each month. I might just sell it and loose the 15k I am sure to loose. Average sit time in my neighborhood is about 60 days so they are moving and I know about what price I will get. I figured Id bleed 1k a month take the deductions and see whats up in a year. Might rent to my two buddies who fix up houses and have them pimp out the pad while they are here for cheaper rent.

Its sure not foolproof but I need a bigger pad and better school system. SD Unified is a joke.

[bluehairdave]

[quote=deadzone][quote=bluehairdave][quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.[/quote]

Agreed on the security thing, I don’t think anyone would deny that. But unfortunately there are many folks who are deeply underwater on their houses and in many cases are paying mortgages up to 2x what it would take to rent the equivalent place next door. But they have too much stubborn pride to do the financially responsible thing which would be to walk away. I don’t think the home owndership dream is working out for them. They are basically slaves to their mortgage and have no hope of recovering.

So do you believe you can rent your place (you bought in 2007) and be cash flow positive? I cant see how you could unless you really got the steal of the century.[/quote]

Oh hell no!. Ill lost 1k a month after taxes etc. but while I dont qualify to deduct the loss I will still be able to write off the interest payments. But I am not going to stop moving forward with my life plan because of losing a little bit of money each month. I might just sell it and loose the 15k I am sure to loose. Average sit time in my neighborhood is about 60 days so they are moving and I know about what price I will get. I figured Id bleed 1k a month take the deductions and see whats up in a year. Might rent to my two buddies who fix up houses and have them pimp out the pad while they are here for cheaper rent.

Its sure not foolproof but I need a bigger pad and better school system. SD Unified is a joke.

[bluehairdave]

[quote=deadzone][quote=bluehairdave][quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.[/quote]

Agreed on the security thing, I don’t think anyone would deny that. But unfortunately there are many folks who are deeply underwater on their houses and in many cases are paying mortgages up to 2x what it would take to rent the equivalent place next door. But they have too much stubborn pride to do the financially responsible thing which would be to walk away. I don’t think the home owndership dream is working out for them. They are basically slaves to their mortgage and have no hope of recovering.

So do you believe you can rent your place (you bought in 2007) and be cash flow positive? I cant see how you could unless you really got the steal of the century.[/quote]

Oh hell no!. Ill lost 1k a month after taxes etc. but while I dont qualify to deduct the loss I will still be able to write off the interest payments. But I am not going to stop moving forward with my life plan because of losing a little bit of money each month. I might just sell it and loose the 15k I am sure to loose. Average sit time in my neighborhood is about 60 days so they are moving and I know about what price I will get. I figured Id bleed 1k a month take the deductions and see whats up in a year. Might rent to my two buddies who fix up houses and have them pimp out the pad while they are here for cheaper rent.

Its sure not foolproof but I need a bigger pad and better school system. SD Unified is a joke.

[bluehairdave]

[quote=deadzone][quote=bluehairdave][quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.[/quote]

Agreed on the security thing, I don’t think anyone would deny that. But unfortunately there are many folks who are deeply underwater on their houses and in many cases are paying mortgages up to 2x what it would take to rent the equivalent place next door. But they have too much stubborn pride to do the financially responsible thing which would be to walk away. I don’t think the home owndership dream is working out for them. They are basically slaves to their mortgage and have no hope of recovering.

So do you believe you can rent your place (you bought in 2007) and be cash flow positive? I cant see how you could unless you really got the steal of the century.[/quote]

Oh hell no!. Ill lost 1k a month after taxes etc. but while I dont qualify to deduct the loss I will still be able to write off the interest payments. But I am not going to stop moving forward with my life plan because of losing a little bit of money each month. I might just sell it and loose the 15k I am sure to loose. Average sit time in my neighborhood is about 60 days so they are moving and I know about what price I will get. I figured Id bleed 1k a month take the deductions and see whats up in a year. Might rent to my two buddies who fix up houses and have them pimp out the pad while they are here for cheaper rent.

Its sure not foolproof but I need a bigger pad and better school system. SD Unified is a joke.

[bluehairdave]

[quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.

[bluehairdave]

[quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.

[bluehairdave]

[quote=deadzone]Bluehair, are you a realtor in disguise? They way you talk about homeownership as the magic potion to propserity and happiness you must be.

Also, I call total bullshit that you bought a house in 2007 and that it is worth more now. In what country exactly did you buy this house? Definitely not in California. You’ll have to provide more details.[/quote]

I didnt say its worth more. Its worth the same and id take a loss after realtor fees but im renting it once I move. Im not saying its a magic potion but it can be an important part of security later on in life.

And the house is on tecelote canyon and i bought if from a divorcing couple who had to sell so I got it under market when I bought it. I bought for 100k less than my neighbor did.

[Author]

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