Home buying thread

Sanrith Descartes

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Found a map image I forgot I had. Anything in the green zone and east will be pleasant if you don't want an arid environment. It really does encompass a considerable amount of land.

If you're considering cities or counties, here is my opinion (other's will vary): We currently live north of Houston in the Woodlands. It's 100% green and wooded (duh) and is a bubble insulated from the city itself. We did live IN the city of Houston for 3 years and it was extremely convenient from the perspective of shopping, food, entertainment, etc. However, it was a nightmare with traffic and overcrowding and filth. Dallas is the same, in my opinion (we both go there monthly for work).

If we had the choice, we would move to Fort Worth, Arlington, or east of Dallas in the Mesquite area. Very close to the major cities and everything you need, but further out and quieter and cleaner. We often check Zillow for properties in those areas and we like to search for 5 acres or more as well. You will likely find that in order to get 5+ acres in a reasonable budget, it's going to be a half hour outside of the city limits unless you're budget is $1mm or more. We don't even bother to do that in Houston, but the same would apply. Conroe, Montgomery (which is beautiful) and a few other nearby towns have options, but will require travel.

Not a chance I would live in or near Austin. There are some neat pockets, but I disagree with a considerable amount of the bullshit that goes on there.

Wouldn't consider San Antonio either because of the client and landscapes. We just don't prefer arid environments and I feel San Antonio is too far removed from lots of cool stuff to do, which I'm sure isn't true at all, but it's a feeling.

Lots of options, but unless you are in the sticks, the prices are similar to other major cities; land, houses, property taxes, etc.

View attachment 299455
Thanks a ton. I'm not looking to live in or near a big city. I generally abhor being near other human beings. I'm thinking a nice plot where I can build a home for when I retire. Im not opposed to brown and arid (lived in Nevada in my younger days), I just prefer green. Fl panhandle is also on my short list being born and bred in Fl.

Finally I recall two things from my trips to Dallas. Visiting the GWB Presidential Library at SMU and Hard 8 BBQ.

 

brekk

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why does the inside of your house look like your roof!

Fucking every wall of that room is cedar shakers stapled+glued to sheet rock. No fucking idea. It boggles the mind.
 

LachiusTZ

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Thanks a ton. I'm not looking to live in or near a big city. I generally abhor being near other human beings. I'm thinking a nice plot where I can build a home for when I retire. Im not opposed to brown and arid (lived in Nevada in my younger days), I just prefer green. Fl panhandle is also on my short list being born and bred in Fl.

Finally I recall two things from my trips to Dallas. Visiting the GWB Presidential Library at SMU and Hard 8 BBQ.


Greenville maybe? Like a hour away from Dallas, tiny as little town. The downtown feels nice
 
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LachiusTZ

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15993360898737214820481050132035.jpg


Back deck and yard
 
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lurkingdirk

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That's beautiful, man.

I'm looking to buy a few properties here because prices have imploded because it looks like football season might not happen, and there are a lot of landlords that rely on the six football weekends per year to make their entire profit. People are selling super cheap, and here things start out at super cheap. For example, I can get a four bedroom home in decent shape that is ready to rent and within walking distance of the university for $140,000. I can charge $3,500 per weekend for the six weekends there are home games. That alone pays the mortgage and more. I can rent it from December to August, do the short rentals for home games, and just make money.

The question is, do I want to own more properties? I don't really want to increase my work load, but it feels like a golden opportunity.
 
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Unidin

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Buy it and hire a management company to deal with it. Yeah you lose 10% off the top but it may be worth it.
 

LachiusTZ

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i see you spent time ripping out the solar lighting, jesus how man trees are on your property?

There are several 100-300 year old trees in my yard. Prolly cutting one down soon, might try to make tables etc out of the slices. Really hate to cut it down, but it's starting to rot while standing.

And the solar lighting work was done by my four year old.
 

Lanx

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There are several 100-300 year old trees in my yard. Prolly cutting one down soon, might try to make tables etc out of the slices. Really hate to cut it down, but it's starting to rot while standing.

And the solar lighting work was done by my four year old.
did you get an arborist to look at it, or you can tell?
 

Sludig

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Looking at refinancing finally. Still number tarded. But bought at 255k at like 4.5 or something years ago. Neighborhood is going for close to 400k/homes.

Not trying to take money out as it's likely a bad idea as nice as it'd be to fund a few things. But I'm trying to figure out what drawbacks there are to refinancing? I'm assuming I'd want to stick with a 15/20 year even if it's not as juicy of a monthly loan amount as resetting to 30 years.


Just looking at a random website with loan rates etc, I'm confused by this 5 year cost thing which is the origination amount + ??? to somehow say it's going to cost me 20k over 5 years?

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Khane

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That's the total cost of refinancing fees (listed there as upfront costs) + actual mortgage monthly payments over 5 years.
 

Sludig

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Seems silly to include your payments unless the idea is thats the extra amount I'd pay on a shortened loan. But even ressetting to 30, showed similiar numbers. A break even Calc was saying I'd need to keep the house 17 years to make refinance worth it which seemed wrong.

SmartSelect_20201027-131437_Gmail.jpg


That's my email from existing company offer might be best keeping the 23 years rather than pushing 20 or 15 just as we have no desire to increase our monthly payments right now. Sucks getting the reminder that there's another 500 in escrow from pmi/tax/ etc.
 

Khane

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They show you that so you can compare what it would cost over 5 years for each lender. That's all that is. A loan that appears to have a better rate, may end up costing more over 5 years because of differences in refinancing costs.

Though I agree it's stupid considering these are 15 year loans and that 5 year number doesn't exactly mean much.
 

LachiusTZ

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did you get an arborist to look at it, or you can tell?

I can tell.

It's a massive tree, and the core is rotting out. Arborist said it might live another ten years, but it's terminal for all practical purposes.
 

Sanrith Descartes

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Before I start asking question in this thread, does anyone use the "investment property" thread (which seems dead) or does all the investment real estate stuff happen in this thread?
 

Khane

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Whichever one you ask the question in will probably get responses.