First Time Home Buyer

[Orruar]

Originally Posted by Guttzs [You must be logged in to view images. Log in or Register.]

Im going to assume you paid the house off already otherwise spending that amount of money instead of paying down on the principal is obviously stupid for an "investment" as you called it.

Calling people stupid when completely ignorant as to the economics of home mortgages. Classic.

[Guttzs]

Originally Posted by Orruar [You must be logged in to view images. Log in or Register.]

Calling people stupid when completely ignorant as to the economics of home mortgages. Classic.

SO calling someone who owns several properties stupid when completely ignorant as to the nature of paying off mortgages early. nvm just keep paying the banks it saves you the time of having more money to keep earning right? fuckwad.

[Old_PVP]

I just bought my first house a year ago. My advice would be to shop around until you find what you are looking for, don't settle. It is a buyer's market out there... never offer the listing price.

Make sure you have a good credit score to secure a low interest rate. I got 3.5% fixed for mine.

Good luck.

[Orruar]

Originally Posted by Guttzs [You must be logged in to view images. Log in or Register.]

SO calling someone who owns several properties stupid when completely ignorant as to the nature of paying off mortgages early. nvm just keep paying the banks it saves you the time of having more money to keep earning right? fuckwad.

Hmm, pay off some of the 3.5% mortgage or put that money into a bond fund that will gain 5-6% like clockwork. Hell, plenty of blue chip stocks consistently yield 5%+ on dividend alone. Even if you just hold and it never appreciates, you're better off doing that than putting it towards the principle. Add in the fact that the federal reserve is dedicated to inflation, and you're just crazy to pay off a mortgage whose inflation adjusted interest rate is effectively negative.

[Lune]

Man I do not envy you New Mexians

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$ whore

[Chronoburn]

Can't live in brown world

[fishingme]

All I can think of is i would of invested that 9k in a 6ft tall fence with a 2ft tall arbor and blow that shit up with clematis and drip lines. Tall fences make great neighbors.

[JonathanHancock]

I'd start by NOT asking for home buying advice on the project1999 message boards

[SamwiseRed]

should have offered that red99 manastone as a down payment.

[Autotune]

Originally Posted by Shannacore [You must be logged in to view images. Log in or Register.]

Any advice?

Where'd you go wrong or what worked out well for you?

Do you own your own land?

If yes, save up and build a house.

If no, save up and buy land.