Buying a House
- Thread starter AeryFairy
- Start date
I’m laughing because you are but I know it’s torture!Yeah, but that wallpaper don't want to come down
I've only removed and cleaned a 4x4' section that can be seen from the living room.There's a shelf space and drawers, then more wall on top--and there's no spot to start peeling. The bottom was easy, and the other walls would also be easy if started from the bottom.
IT's so weird. I want to paint, but I can so appreciate the vintage look of the wallpaper.
My only good memories are of my old great relatives and their tiny old houses. If it were in bad shape, or easily peeled, I be on it, but it's done so well, and it's vinyl so it cleans well.
Ugh. I thought I'd convinced myself, but l haven't and I don't even know if I'm making excuses, or just too lazy! (I am really lazy)
We have put in an offer for a house in our current neighborhood. It's not super big, but it's an expensive area and the price is good for this one.
I so hope this works out. We've been renting for years which is a terrible way to waste your money, so we've been wanting to buy, but it just hasn't been possible until now. It's been like a black cloud hanging over me all this time.
I so hope this works out. We've been renting for years which is a terrible way to waste your money, so we've been wanting to buy, but it just hasn't been possible until now. It's been like a black cloud hanging over me all this time.
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Update: The seller made a counter-offer which we accepted as the difference wasn't big. The seller now needs to agree on a purchase of a house they will be moving to. Hopefully, it won't be a very long chain ...
On our side, the next steps involve getting a decision-in-principle from the bank on a mortgage, hire a solicitor and arrange an inspection of the house by a qualified surveyor. We'll probably use the bank's surveyor. I also need to move some money around so we have our deposit ready.
On our side, the next steps involve getting a decision-in-principle from the bank on a mortgage, hire a solicitor and arrange an inspection of the house by a qualified surveyor. We'll probably use the bank's surveyor. I also need to move some money around so we have our deposit ready.
Long story, but we actually ended up withdrawing from that house and instead had an offer accepted on a different house which is bigger and nicer and generally one we are happier with. It's also more expensive, but I think it'll be alright.
Excellent! I hope all goes quickly and smoothly.
On Renting Versus Buying a House
The transaction costs for purchasing a house are huge. I would plan on paying about 6% of the value of the home. Thus, you will experiences an up-front cost of $12,000 to move into a $200,000 house. A person who moves around every four years should not buy a house due to transaction costs.
Still, there is another cost that bothers me even more. After inflation, the rate of return on a house is negative 1%. The rate of return after inflation for stocks is about 7% per year. Thus, a $200,000 investment in stock will outperform a house by $16,000 per year.
The transaction costs for purchasing a house are huge. I would plan on paying about 6% of the value of the home. Thus, you will experiences an up-front cost of $12,000 to move into a $200,000 house. A person who moves around every four years should not buy a house due to transaction costs.
Still, there is another cost that bothers me even more. After inflation, the rate of return on a house is negative 1%. The rate of return after inflation for stocks is about 7% per year. Thus, a $200,000 investment in stock will outperform a house by $16,000 per year.
We made a nice little profit on our 900 square foot house. Of course we were there 25 years so who knows what that comes out to I just know I’m happy with the outcome and I loved living there. I have never not owned a home. This is our third and hopefully final house in 46 years. There is a possibility we will move south in approximately ten years but it’s way too soon to be thinking about that.
Know what's good about money? It can buy you a house!
And if you do it right, a time comes when you own it outright and only pay for maintenance, and taxes, and in the meantime your payments stay the same and you can do what you want.
KLS and Silvia are on target.
My friend tells me, "What good is your money if you never get to spend it?"
There is certainly value in owning a house and making everything perfect. In addition, that huge monthly mortgage payment goes way down over ten years just because of inflation.
I enjoy looking houses, old and new. When ever I see person tending a garden, I think that person has hope. The image is priceless.
My friend tells me, "What good is your money if you never get to spend it?"
There is certainly value in owning a house and making everything perfect. In addition, that huge monthly mortgage payment goes way down over ten years just because of inflation.
I enjoy looking houses, old and new. When ever I see person tending a garden, I think that person has hope. The image is priceless.
It is just such an individual decision. I know many people who are so much happier in apartments! My mother was one. She just really had no attachments to anything, and loved not having to make decisions or work on things herself.
Me though, I'd want a house of my own regardless of cost.
I just stripped and prepped another kitchen wall of it's old wallpaper, and I'm a bit sorry now
. It was a nice vinyl paper, easily washed, put up very very well, and a nice small flower and leaves print. I liked it, but I also wanted the light grey blue I always associated with old kitchens, like my grandmothers kitchen. I'm sure once I get around to painting I'll be very happy. It got to me when my son came down and seemed shocked I was going through with it
Me though, I'd want a house of my own regardless of cost.
I just stripped and prepped another kitchen wall of it's old wallpaper, and I'm a bit sorry now
. It was a nice vinyl paper, easily washed, put up very very well, and a nice small flower and leaves print. I liked it, but I also wanted the light grey blue I always associated with old kitchens, like my grandmothers kitchen. I'm sure once I get around to painting I'll be very happy. It got to me when my son came down and seemed shocked I was going through with it
We are looking at flats online as well as houses. With a flat you can get a much better location but the problem is our dogs. I read that some flats don't allow dogs if they are considered an annoyance, which mine definitely are as they are so yappy. 
I haven't lived in a flat since I was 7 years old, well, student accommodation was a bit like living in a tiny flat.
The Chancellor has made a rule that you don't have to pay stamp duty until March 31st next year which will save people moving house a lot of money. It seems like a lot of people are taking advantage of it as there are a lot of properties coming up in our wanted areas for our online searches now.
It's making me feel up against the clock. I was thinking about delaying moving until 2022 when my husband retires but I don't know whether to just try and do it before the March deadline!
I haven't lived in a flat since I was 7 years old, well, student accommodation was a bit like living in a tiny flat.The Chancellor has made a rule that you don't have to pay stamp duty until March 31st next year which will save people moving house a lot of money. It seems like a lot of people are taking advantage of it as there are a lot of properties coming up in our wanted areas for our online searches now.
It's making me feel up against the clock. I was thinking about delaying moving until 2022 when my husband retires but I don't know whether to just try and do it before the March deadline!
Chryssie
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