This is topic First time home buyer in forum General Talk at Northern California Ford Owners  .


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Posted by 1FAST93NOTCH (Member # 10722) on :
 
I'm proud to say I purchased my first home in the Bay Area. Any suggestions, struggles or experiences I should worry about? FYI I'm 25 y/o first time buyer in the peninsula.
 

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Posted by losbadgts (Member # 4394) on :
 
congrats man. buying a home around here is nuts now a days but nothing is possible. i'm working on that myself for this year
 

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Posted by 135.0 (Member # 4992) on :
 
If you bought the home new or at a higher price than the previous owner be prepared to pay a supplemental tax bill

[ 2014-01-11, 12:18 AM: Message edited by: 135.0 ]
 

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Posted by NEIGHT (Member # 8741) on :
 
CAFords house warming party!
 

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Posted by SydeWaySix (Member # 3596) on :
 
Congrats on the house purchase! Always feels good to make BIG accomplishments like that!

I bought my first when I was 26 and upgraded @ 30. Hopefully I'll be able to do it again when I'm 35 and upgrade even more as you can tell, I like to flip shit

My advice is make sure you start saving money! You should have a savings acct with enough money to pay for At least 6-12 months worth of mortgage...just in case you lose your job you won't have to lose your house. In my situation,I soon realized that all my money and energy was going into the house to make it better rather than into my cars and other hobbies.

Good luck and have fun!

[ 2014-01-11, 08:24 AM: Message edited by: SydeWaySix ]
 

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Posted by FRC_Kid (Member # 8940) on :
 
CONGRATS! only thing I can say is don't try and live outside your means. Just because your neighbor has something doesn't mean you need it too. I've seen plenty of guys invest all they had in a house only to get in over their head and lose it all... What part of the peninsula if you don't mind me asking? Houses in my neighborhood of SSF are selling for crazy prices
 

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Posted by 66_5.0 (Member # 9974) on :
 

quote:

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Originally posted by SydeWaySix:
Congrats on the house purchase! Always feels good to make BIG accomplishments like that!

I bought my first when I was 26 and upgraded @ 30. Hopefully I'll be able to do it again when I'm 35 and upgrade even more as you can tell, I like to flip shit

My advice is make sure you start saving money! You should have a savings acct with enough money to pay for At least 6-12 months worth of mortgage...just in case you lose your job you won't have to lose your house. In my situation,I soon realized that all my money and energy was going into the house to make it better rather than into my cars and other hobbies.

Good luck and have fun!

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This is great advice, talking to a lot of other individuals helped me realize that you need that Emergency fund, just in case. Im hoping by 25 to do the same.

Congrats OP
 

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Posted by adower (Member # 5955) on :
 
Great job getting into a house. Live in it a few years, get some equity, sell and use that money to upgrade!
 

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Posted by 5.0_707 (Member # 5893) on :
 

quote:

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Originally posted by adower:
Great job getting into a house. Live in it a few years, get some equity, sell and use that money to upgrade!

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This is basically what I did! Bought a 50 something year old house dumped 20k into it and a year and a half later sold it for 50k more than I bought it for! Put a nice chunk of that into my current house! Good job and good luck OP. I'm 29 now but when we moved into our current home our neighbors would talk about how my wife and I are so young and how their kids the same age as us still living at home! Makes me feel kinda good .... Just a little humble bragging
 

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Posted by Tonp650 (Member # 10888) on :
 
Makes it easier when mommy and daddy co-sign.
 

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Posted by ECOboostin (Member # 4347) on :
 

quote:

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Originally posted by Tonp650:
Makes it easier when mommy and daddy co-sign.

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That's the way it should be. Far too often do nothing parents let their kids fall through the cracks.
 

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Posted by i (Member # 12534) on :
 
Congratulations hopefully I buy mines around 26 and rent out some rooms
 

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Posted by AL STOCK (Member # 1852) on :
 
Congrats!! Welcome to property management
 

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Posted by losbadgts (Member # 4394) on :
 

quote:

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Originally posted by ECOboostin:

quote:

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Originally posted by Tonp650:
Makes it easier when mommy and daddy co-sign.

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That's the way it should be. Far too often do nothing parents let their kids fall through the cracks.

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quote:

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Originally posted by Tonp650:
Makes it easier when mommy and daddy co-sign.

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Jealousy is never a good look, nobody co-signed.
 

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Posted by 1FAST93NOTCH (Member # 10722) on :
 
CaFords,
Thanks for the support & I appreciate all the advice.
 

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Posted by saleen428 (Member # 7535) on :
 

quote:

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Originally posted by FRC_Kid:
CONGRATS! only thing I can say is don't try and live outside your means. Just because your neighbor has something doesn't mean you need it too. I've seen plenty of guys invest all they had in a house only to get in over their head and lose it all... What part of the peninsula if you don't mind me asking? Houses in my neighborhood of SSF are selling for crazy prices

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