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Author
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Topic: First time home buyer
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1FAST93NOTCH
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Member # 10722
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posted
 
 
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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2014 Oxford White Raptor Production #: 30727
1993 Red Notchback Production #: 29409
1993 Teal Cobra Production #: 4505
TEAM TRUE FORGED
Posts: 672 | From: SSF | Registered: Mar 2011
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losbadgts
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Member # 4394
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posted
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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Why pretent someone u are not, everyone else could see it.
Posts: 3625 | From: redwood city | Registered: Apr 2004
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1996 GT
I'm Joe Yates
Member # 4992
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posted
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 ]
Posts: 9308 | Registered: Oct 2004
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NEIGHT
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Member # 8741
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posted
CAFords house warming party!
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-Savage Habits-
1992 Summer Edition
1986 Hatch- catfish killer
1964 Impala hard top
Posts: 18530 | From: EA$T $IDE REDWOOD CITY | Registered: Nov 2008
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SydeWaySix
CAFords OG
Member # 3596
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posted
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 ![[Big Grin]](biggrin.gif) as you can tell, I like to flip shit ![[dance]](graemlins/dance.gif)
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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2013 Boss 302 #356. Performance White. Stock.
1965 Fastback GT Restored to stock spec.
Posts: 9882 | From: Bay Area | Registered: Dec 2002
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FRC_Kid
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Member # 8940
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posted
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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Pretend Racecar Driver- C5 FRC
Ford, GM, & Dodge is what I'm all about
Posts: 2578 | From: All over the Peninsula | Registered: Feb 2009
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66_5.0
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Member # 9974
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posted
quote:
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!
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 ![[patriot]](graemlins/patriot.gif)
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1966 Mustang
Posts: 1967 | Registered: Apr 2010
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adower
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Member # 5955
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posted
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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98 Cobra
Griggs
S Trim
HRE
Posts: 3327 | Registered: Aug 2005
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5.0_707
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Member # 5893
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posted
quote:
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!
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
Posts: 888 | From: 707 | Registered: Aug 2005
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Tonp650
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Member # 10888
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posted
Makes it easier when mommy and daddy co-sign.
Posts: 43 | From: Burlingame | Registered: Apr 2011
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sic70stang
CAFords OG
Member # 4347
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posted
quote:
Originally posted by Tonp650:
Makes it easier when mommy and daddy co-sign.
That's the way it should be. Far too often do nothing parents let their kids fall through the cracks.
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The anti-crew
1987 rolling safety violation.
Posts: 6940 | From: California | Registered: Jul 2005
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i
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Member # 12534
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posted
Congratulations hopefully I buy mines around 26 and rent out some rooms
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86 Caged Coupe 5.0
91 Salvaged Coupe
Posts: 1901 | From: Sacramento | Registered: Nov 2012
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AL STOCK
Its All Stock
Cuzzon
Member # 1852
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posted
Congrats!! Welcome to property management ![[Smile]](smile.gif)
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.:: FANATICS ::.
93 Cobra Teal
93 Cobra V Red
90 SSP
SVT Raptor
Huracan Rosso Mars
E63s W213 Selenite Gray
C7Z M7 Daytona Sunrise
Posts: 6498 | From: San Bruno | Registered: Sep 2002
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losbadgts
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Member # 4394
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posted
quote:
Originally posted by ECOboostin:
quote:
Originally posted by Tonp650:
Makes it easier when mommy and daddy co-sign.
That's the way it should be. Far too often do nothing parents let their kids fall through the cracks.
I will do anything I can to help my kids period.
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Why pretent someone u are not, everyone else could see it.
Posts: 3625 | From: redwood city | Registered: Apr 2004
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1FAST93NOTCH
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Member # 10722
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posted
quote:
Originally posted by Tonp650:
Makes it easier when mommy and daddy co-sign.
Jealousy is never a good look, nobody co-signed.
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2014 Oxford White Raptor Production #: 30727
1993 Red Notchback Production #: 29409
1993 Teal Cobra Production #: 4505
TEAM TRUE FORGED
Posts: 672 | From: SSF | Registered: Mar 2011
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1FAST93NOTCH
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Member # 10722
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posted
CaFords,
Thanks for the support & I appreciate all the advice.
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2014 Oxford White Raptor Production #: 30727
1993 Red Notchback Production #: 29409
1993 Teal Cobra Production #: 4505
TEAM TRUE FORGED
Posts: 672 | From: SSF | Registered: Mar 2011
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saleen428
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Member # 7535
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posted
quote:
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
X2 Good advice. Way too easy to get caught up in keeping up with the Jones. Keep your head on and see the bigger picture.
CONGRATS and enjoy!!
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Fords for Life
Posts: 217 | From: 925 | Registered: Mar 2007
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50Reasons
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Member # 6452
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posted
Congrats fellow home owner now sit back and relax and make that home your castle .. Take a lil bit of everyone's input use some of the advise and take some with a grain of salt. Might want to look into home warranties just in case some fails and you won't have to come all the way out of pocket it has saved me a bunch of money on my properties.
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50Reasons Car Club President
Daniel/50Reasons
http://youtu.be/n_UkDg_F4MQ
https://youtu.be/066xRvxKy-g
Posts: 9483 | From: Sacramento Ca | Registered: Jan 2006
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Gnari-Garage
CAFords OG
Member # 3164
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posted
Congrats! Lots of good advice here, the one I would have to 200% agree to is that make sure you have at least 6 month mortgage in your bank account! I know you may not have it right now and that's okay, but think about that goal and start saving....
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2017 McLaren 570GT
2019 Audi S5
2017 Tundra 7" Lift, 37" Tires
Posts: 4017 | From: 916-sacramento | Registered: Aug 2003
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