Z-Dreamer Posted February 16, 2004 Share Posted February 16, 2004 Yes, I've finally joined the ranks of home owner! The property recorded friday the 13th! My lucky number! Bought it with almost 50K of built-in equity too! Mark Quote Link to comment Share on other sites More sharing options...
PETEW Posted February 16, 2004 Share Posted February 16, 2004 Congatulations! Let the never ending debt begin. You will find out that a home is more of a money pit than a Z will ever be. Enjoy it, you know have a piece of the earth you can say is yours. Quote Link to comment Share on other sites More sharing options...
Guest zfan Posted February 16, 2004 Share Posted February 16, 2004 Congratulations Mike Quote Link to comment Share on other sites More sharing options...
Z-Dreamer Posted February 16, 2004 Author Share Posted February 16, 2004 Thanks, the plan is to sell it in two to three years after I remodel the kitchen and bath. Since I'm a remodeling contractor by trade, all it will cost me is time and materials. Mark Quote Link to comment Share on other sites More sharing options...
Guest kc6wfs Posted February 16, 2004 Share Posted February 16, 2004 Congrats.... A good feeling!!!!!!! Quote Link to comment Share on other sites More sharing options...
Guest V8wannabe Posted February 16, 2004 Share Posted February 16, 2004 Congrats, good luck with the wheelin' dealin' in 2-3 years, may the market be in your favor. Quote Link to comment Share on other sites More sharing options...
Mikelly Posted February 16, 2004 Share Posted February 16, 2004 Congrats Mark... My game plan was to stay in my house for 2-3 years... 6 years ago! Mike Quote Link to comment Share on other sites More sharing options...
Guest Nic-Rebel450CA Posted February 16, 2004 Share Posted February 16, 2004 Congrats! I can't imagine what it is like, but I'll bet it is great! Quote Link to comment Share on other sites More sharing options...
Dan Juday Posted February 16, 2004 Share Posted February 16, 2004 Right on Mark!!!! That is good news. How many bedrooms? You would need a mansion to have one for each of your kids! How's the HVAC, need any help? Quote Link to comment Share on other sites More sharing options...
DavyZ Posted February 16, 2004 Share Posted February 16, 2004 Congrats!! Glad you finally found a good place. 2 car garage??? Davy Quote Link to comment Share on other sites More sharing options...
BayAreaZT Posted February 17, 2004 Share Posted February 17, 2004 Congrats I just signed all the paperwork for my first home on Thursday the 12th. The home is still being built so I don't close until June. 2 car garage for me .Home buying can definately be stressfull but it all pays off when you find your place. Quote Link to comment Share on other sites More sharing options...
auxilary Posted February 17, 2004 Share Posted February 17, 2004 bbq at zdreamer's house? Quote Link to comment Share on other sites More sharing options...
Z-Dreamer Posted February 17, 2004 Author Share Posted February 17, 2004 Thanks everyone! I bought the home as an investment and a place to live. It is a three bedroom, one bath with a one car garage, but it does have alot of paved driveway. The Sacramento housing market has remained hot with no cooling in sight. With a kitchen and bath remodel, I should be able to sell it in two to three years and walk away with enough cash to put a large down on a larger piece of property. Mark Quote Link to comment Share on other sites More sharing options...
Dave240Z Posted February 17, 2004 Share Posted February 17, 2004 Thanks everyone! I bought the home as an investment and a place to live. It is a three bedroom' date=' one bath with a one car garage, but it does have alot of paved driveway. The Sacramento housing market has remained hot with no cooling in sight. With a kitchen and bath remodel, I should be able to sell it in two to three years and walk away with enough cash to put a large down on a larger piece of property. Mark[/quote'] Buying a home is one of lifes changing moments, congratulations Mark!!! I hope you were able to avoid PMI, was the 50K enough for 20%? You could always avoid it with a 2nd loan too, in case you didn't already know. Since you're thinking of turning the house over in a few years, what kind of loan did you get? 5/ARM or interest only? With your construction skills, it seems like this can really pan out for you. People are going nutso over kitchen remodels, hardwood floors and crown molding. Just doing those minor things along with paint can easily fetch a quick premium. If you can do the work yourself, you just saved 3/4 of the cost so you'll be way ahead. BTW, do you offer contract discounts to fellow Z owners who own homes? Quote Link to comment Share on other sites More sharing options...
Heavy Z Posted February 17, 2004 Share Posted February 17, 2004 Congratulations Mark!! Quote Link to comment Share on other sites More sharing options...
love-my-V8-280Z Posted February 18, 2004 Share Posted February 18, 2004 Now just fight the millages rate increases with all you have., if you ever get your house payed for you need to know that in a worse case situation you have a roof over your head if you can just swing some utilities. Our govenment has made it so if you do own it and cant pay the outrages taxs every year they will take it! Quote Link to comment Share on other sites More sharing options...
Z-Dreamer Posted February 18, 2004 Author Share Posted February 18, 2004 Dave240Z, The loan is a 3/1 ARM fixed @ 4.5% with no points. I put 5% down so I do have PMI, but not for long... I only paid 150K for the place and it appraised for 190K. I figure I can add another 30K in value to it for less than 10K. I'm working on it now so I can move on the February 28! I do give remodeling discounts to those who pay CASH! Mark ps. Any help in moving would be greatly appreciated! Quote Link to comment Share on other sites More sharing options...
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