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Posted: 12/21/2014 8:53:49 AM EDT
And I have never regretted it.
Owning a home has provided me with an abundance of things to do, and freed me forever from the tyranny and insecurity of having a landlord.  |
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Posted: 12/21/2014 8:56:40 AM EDT
[#1]
Congrats. I became a homeowner 10 years ago and can't stand it. Then again, I'm not in the house I want to die in, either. If I had it all to do over again, I'd have kept renting until I was ready to buy my "forever" home.
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Posted: 12/21/2014 8:58:28 AM EDT
[#2]
Yeah?
I just wrote checks for property taxes for over $2900.00 and realized I don't own jack. I'm just renting it from the government. Merry Christmas! 
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Posted: 12/21/2014 8:59:29 AM EDT
[#3]
Quote HistoryQuoted:
Yeah? I just wrote checks for property taxes for over $2900.00 and realized I don't own jack. I'm just renting it from the government. Merry Christmas! That sucks. Good thing I don't have those 
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Posted: 12/21/2014 9:00:04 AM EDT
[#4]
CK,
If you are on a 30 year note, you don`t have long to go until that bad boy is paid for!!!! 
I envy you youngin`! You have me beat by a decade Sir! |
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Posted: 12/21/2014 9:01:08 AM EDT
[#5]
Quote HistoryQuoted: Congrats. I became a homeowner 10 years ago and can't stand it. Then again, I'm not in the house I want to die in, either. If I had it all to do over again, I'd have kept renting until I was ready to buy my "forever" home. Quote HistoryQuoted: Congrats. I became a homeowner 10 years ago and can't stand it. Then again, I'm not in the house I want to die in, either. If I had it all to do over again, I'd have kept renting until I was ready to buy my "forever" home. Mine is definitely a fixer-upper, and I don't mind that. I stay out of trouble when I keep myself busy. So far I have: - Had a large retaining wall built to create a semi-level back yard; project included sprinklers everywhere, - Constructed vegetable garden areas, - Re-wired the entire house and refinished all of the interior walls, - Had a photovoltaic system installed. Those are the major projects that have been completed. Now I'm in the process of taking out all of the old carpeting and underlying linoleum flooring and installing hard porcelain tile. That's a big job. Quoted: CK, If you are on a 30 year note, you don`t have long to go until that bad boy is paid for!!!! I have refinanced three times (once to cover divorce costs,) and am now on a 10-year note (at 2.75% fixed) with about seven remaining. |
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Posted: 12/21/2014 9:02:40 AM EDT
[#6]
Bought my house at 28 2 years ago. Re-financing the loan this week and will have it paid off in 10 years. Nice thing is the mortgage, even with the refi is only $200 more than I was paying for a 1 bedroom apartment in the same neighborhood. There is something to be said for $45k in equity and it's FUFHA!
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Posted: 12/21/2014 9:03:19 AM EDT
[#7]
I became a homeowner in October, 1998. We just paid off the mortgage. NOW I own a home.
And it's $6,000 in property tax a year. And going up. 
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Posted: 12/21/2014 9:10:20 AM EDT
[#8]
I built this place in 1998. Did a refi in 2012 @ 3.0% for 15 years. Have 13 years left well soon to be 12 years lol
Property taxes this year were $360 Posted Via AR15.Com Mobile |
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Posted: 12/21/2014 10:16:32 AM EDT
[#9]
Quote HistoryQuoted:
I built this place in 1998. Did a refi in 2012 @ 3.0% for 15 years. Have 13 years left well soon to be 12 years lol Property taxes this year were $360 Posted Via AR15.Com Mobile I paid more than that for a vacant 1.5 acre lot! 
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Posted: 12/21/2014 10:19:00 AM EDT
[#10]
Quote HistoryQuoted:
Yeah? I just wrote checks for property taxes for over $2900.00 and realized I don't own jack. I'm just renting it from the government. Merry Christmas! But you've cut out the middle man! Posted Via AR15.Com Mobile |
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Posted: 12/21/2014 10:19:51 AM EDT
[#11]
Quote HistoryQuoted:
Bought my house at 28 2 years ago. Re-financing the loan this week and will have it paid off in 10 years. Nice thing is the mortgage, even with the refi is only $200 more than I was paying for a 1 bedroom apartment in the same neighborhood. There is something to be said for $45k in equity and it's FUFHA! Rent is simply tossing money away, for some people though its the only option. |
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Posted: 12/21/2014 10:22:42 AM EDT
[#12]
Quote HistoryQuoted:
Rent is simply tossing money away, for some people though its the only option. Quote HistoryQuoted:
Quoted:
Bought my house at 28 2 years ago. Re-financing the loan this week and will have it paid off in 10 years. Nice thing is the mortgage, even with the refi is only $200 more than I was paying for a 1 bedroom apartment in the same neighborhood. There is something to be said for $45k in equity and it's FUFHA! Rent is simply tossing money away, for some people though its the only option. It's not tossing money away. |
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Posted: 12/21/2014 10:24:21 AM EDT
[#13]
Quote HistoryQuoted:
I became a homeowner in October, 1998. We just paid off the mortgage. NOW I own a home.
And it's $6,000 in property tax a year. And going up. Be glad you aren't just a few miles south, into Orange County, they love them some taxes! |
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Posted: 12/21/2014 10:25:36 AM EDT
[#14]
Quote HistoryQuoted:
It's not tossing money away. Quote HistoryQuoted:
Quoted:
Quoted:
Bought my house at 28 2 years ago. Re-financing the loan this week and will have it paid off in 10 years. Nice thing is the mortgage, even with the refi is only $200 more than I was paying for a 1 bedroom apartment in the same neighborhood. There is something to be said for $45k in equity and it's FUFHA! Rent is simply tossing money away, for some people though its the only option. It's not tossing money away. It's all situation dependent. Posted Via AR15.Com Mobile |
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Posted: 12/21/2014 10:25:46 AM EDT
[#15]
Quote HistoryQuoted:
It's not tossing money away. Quote HistoryQuoted:
Quoted:
Quoted:
Bought my house at 28 2 years ago. Re-financing the loan this week and will have it paid off in 10 years. Nice thing is the mortgage, even with the refi is only $200 more than I was paying for a 1 bedroom apartment in the same neighborhood. There is something to be said for $45k in equity and it's FUFHA! Rent is simply tossing money away, for some people though its the only option. It's not tossing money away. Yes it is <----------------------Landlord
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Posted: 12/21/2014 10:26:50 AM EDT
[#16]
No state income tax in TX= you are never done paying. I do love it though, always something to work on/upgrade.
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Posted: 12/21/2014 10:32:12 AM EDT
[#17]
Same here.
Love being a homeowner. Built our house 8 years ago. And, Lord willing, will have it paid off in 4 years, six months and two days. WV has a homestead exemption act, which means no taxes on our house/land once we hit 65. |
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Posted: 12/21/2014 10:38:27 AM EDT
[#18]
Congratulations California_Kid and others.
It's been over thirty years for me. In a few more years time, it will be forty. Buying a house is going to be more and more elusive for Americans. High unemployment or even if one is employed, student loans prevents many young Americans from building up the money for a down payment. BTW, I wouldn't buy a house right now. The housing bubble that burst in 2007/08 has been kept partially inflated by withholding of foreclosed houses from the market, from hedge funds that jumped on foreclosed housing, from Chinese who sought to dump their dollars for tangibles and by Chinese corporations that have been buying prime property in America. Cracks are already appearing and then the market goes (but everything goes when the fed raises interest rates). |
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Posted: 12/21/2014 10:40:11 AM EDT
[#19]
Quote HistoryQuoted:
Be glad you aren't just a few miles south, into Orange County, they love them some taxes! Quote HistoryQuoted:
Quoted:
I became a homeowner in October, 1998. We just paid off the mortgage. NOW I own a home.
And it's $6,000 in property tax a year. And going up. Be glad you aren't just a few miles south, into Orange County, they love them some taxes! That's why I moved from Orange ( Walden Sportsmen's Club) to Ulster ( New Paltz Rod and Gun) 
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Posted: 12/21/2014 10:52:36 AM EDT
[#20]
Quote HistoryQuoted:
Yeah? I just wrote checks for property taxes for over $2900.00 and realized I don't own jack. I'm just renting it from the government. Merry Christmas! This guy gets it. |
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Posted: 12/21/2014 10:53:15 AM EDT
[#21]
3 or 4 more years to payoff.
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Posted: 12/21/2014 10:54:34 AM EDT
[#22]
Quote HistoryQuoted:
This guy gets it. Quote HistoryQuoted:
Quoted:
Yeah? I just wrote checks for property taxes for over $2900.00 and realized I don't own jack. I'm just renting it from the government. Merry Christmas! This guy gets it. How true. Don't pay your taxes and "your" property can be sold at auction at the county court house. This is the threat of hyper-inflation. As more money goes towards necessities (food and fuel), taxes will be neglected and if they're property taxes, the county will move against you. I can see a lot of that happening unless We The People take action against it. The only good thing about CA is Prop 13 which prevents the government from arbitrarily raising the taxes to meet its budget. Instead it's limited to 1.1% (or something like that). There are plenty of politicians who want it repealed because it's unfair. I bought my house for less than $300k over thirty years ago and my neighbors paid about $800k plus. Naturally, they pay more than I do. There's only a couple of states that allows you to get away from property taxes. TX and NV allow you via Allodial Title. See if you qualify. I'm going to have to see if homesteading will cover me in CO. |
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Posted: 12/21/2014 10:56:55 AM EDT
[#23]
Respect mah propertayyy!!!!
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Posted: 12/21/2014 11:04:58 AM EDT
[#24]
All homeowners have a Landlord, it is the Gov't and they will evict if you fail to pay.
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Posted: 12/21/2014 11:08:02 AM EDT
[#25]
Quote HistoryQuoted:
Rent is simply tossing money away, for some people though its the only option. Quote HistoryQuoted:
Quoted:
Bought my house at 28 2 years ago. Re-financing the loan this week and will have it paid off in 10 years. Nice thing is the mortgage, even with the refi is only $200 more than I was paying for a 1 bedroom apartment in the same neighborhood. There is something to be said for $45k in equity and it's FUFHA! Rent is simply tossing money away, for some people though its the only option. So is owning a home. The whole angle of home ownership as an investment is bullshit once you factor in taxes, upkeep, interest, insurance, etc. At best you get to keep a portion of your cash outflow as equity but that's about it. That said, I will never rent again. I've owned my home for 10 years. |
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Posted: 12/21/2014 11:13:13 AM EDT
[#26]
Quote HistoryQuoted: All homeowners have a Landlord, it is the Gov't and they will evict if you fail to pay. True, and some people also have homeowner's associations that can do the same for non-payment of HOA dues. Fortunately I am a beneficiary of one of the few GOOD things about my state - The property tax limits set under Proposition 13, approved by voters (including me) in 1978. My property tax is now just over $2,000/year. |
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Posted: 12/21/2014 11:24:04 AM EDT
[#27]
Living as a gypsy in the USN we lived in 17 different townhouses and apartments in 20 years across four countries and dozens of cities. Once the Navy got done spinning me around it was SoCal. We were shopping for a home when the attacks of Sept 11th happened so we stopped looking for awhile. We ended up buying in Feb 2002 and had the house paid off by 2011. Taxes are 1% by law and I insure it for about 0.7% more - combined both are less that two rental payments for the same sized home. That extra money gets banked for retirement ... or spent on toys.
I hope I never have to rent again.
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Posted: 12/21/2014 11:36:56 AM EDT
[#28]
Quote HistoryQuoted:
I became a homeowner in October, 1998. We just paid off the mortgage. NOW I own a home.
And it's $6,000 in property tax a year. And going up. There may be good news under certain circumstances. If you're 65 or older check with your Tax Assessor's office. You may qualify for a Homestead Exemption. That's the good news. The bad news is that you may have to take the savings and apply it to your adult diapers.
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Posted: 12/21/2014 11:44:18 AM EDT
[#29]
And here I sit and bitch about my $1400 in property taxes.
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Posted: 12/21/2014 12:37:15 PM EDT
[#30]
Quote HistoryQuoted:
That's why I moved from Orange ( Walden Sportsmen's Club) to Ulster ( New Paltz Rod and Gun) Quote HistoryQuoted:
Quoted:
Quoted:
I became a homeowner in October, 1998. We just paid off the mortgage. NOW I own a home.
And it's $6,000 in property tax a year. And going up. Be glad you aren't just a few miles south, into Orange County, they love them some taxes! That's why I moved from Orange ( Walden Sportsmen's Club) to Ulster ( New Paltz Rod and Gun) Gotcha. Ulster is slowly catching up to them. How is NPR&G doing lately? I haven't been there is a few years. |
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Posted: 12/21/2014 1:06:04 PM EDT
[#31]
Congrats!
In a few more years, I will be making use of my VA home guaranty and joining you. |
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Posted: 12/21/2014 1:13:07 PM EDT
[#32]
Mine is paid off and it is a great feeling.
I wish I could have posted before those that are so ignorant of economics that they do not understand the difference between "expenses" and "debt", but I was not quick enough. |
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Posted: 12/21/2014 1:29:33 PM EDT
[#33]
Quote HistoryQuoted:
Mine is paid off and it is a great feeling. I wish I could have posted before those that are so ignorant of economics that they do not understand the difference between "expenses" and "debt", but I was not quick enough. Please expound. |
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Posted: 12/21/2014 1:32:35 PM EDT
[#34]
Quote HistoryQuoted:
Please expound. Quote HistoryQuoted:
Quoted:
Mine is paid off and it is a great feeling. I wish I could have posted before those that are so ignorant of economics that they do not understand the difference between "expenses" and "debt", but I was not quick enough. Please expound. Some folks wrongly say that you don't "own" your home because you are in debt to pay taxes. Taxes are not a debt, they are an expense. I OWN my home. |
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Posted: 12/21/2014 1:36:44 PM EDT
[#35]
Quote HistoryQuoted:
Some folks wrongly say that you don't "own" your home because you are in debt to pay taxes. Taxes are not a debt, they are an expense. I OWN my home. Quote HistoryQuoted:
Quoted:
Quoted:
Mine is paid off and it is a great feeling. I wish I could have posted before those that are so ignorant of economics that they do not understand the difference between "expenses" and "debt", but I was not quick enough. Please expound. Some folks wrongly say that you don't "own" your home because you are in debt to pay taxes. Taxes are not a debt, they are an expense. I OWN my home. Fair enough, though government owns a monopoly of power, and therefore owns your home should it please the state. You can only own it, so long as it remains in your possession. |
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Posted: 12/21/2014 1:36:52 PM EDT
[#36]
Quoted:
And I have never regretted it. Owning a home has provided me with an abundance of things to do, and freed me forever from the tyranny and insecurity of having a landlord. And that right there is why I freaking hated all 10 years I was a home owner. So many things I'd rather do than mow the yard, rake leaves, clean the pool, fix the fence, fix the plumbing, fix something electrical, paint, new water heater, new a/c, new pool pump, on and on and on. Fuck all that I've had enough of it for a lifetime and my bucket list isn't going to check itself off when I'm doing all that. Now? I get on my motorcycle and ride. Or watch those games I never had time to watch on Sat/Sun, or go somewhere for the weekend, hangout with friends, the girlfriend, the kids, whatever I want to do that doesn't involve blood sweat and tears just to keep the status quo. I rent a nice home and my rent has not gone up one cent in 4 years. When I owned my home, my TAXES would go up every year sometimes to the tune of hundreds and hundreds a month. And I haven't paid one cent in maintenance, whereas with the home I owned I was paying thousands a year in upkeep. Yeah I'm okay with not owning. |
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Posted: 12/21/2014 1:48:46 PM EDT
[#37]
Quote HistoryQuoted:
Rent is simply tossing money away, for some people though its the only option. Quote HistoryQuoted:
Quoted:
Bought my house at 28 2 years ago. Re-financing the loan this week and will have it paid off in 10 years. Nice thing is the mortgage, even with the refi is only $200 more than I was paying for a 1 bedroom apartment in the same neighborhood. There is something to be said for $45k in equity and it's FUFHA! Rent is simply tossing money away, for some people though its the only option. Not necisarially. You don't build equity in taxes, insurance, repairs, upkeep. There are definately situations where it is better to rent. |
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Posted: 12/21/2014 1:59:39 PM EDT
[#38]
We snapped up our house on a short sale [short, my ass] when the market bottomed out here....sellers bought it for 284k...we bought it for 165k. couldn't be happier with our purchase.
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Posted: 12/21/2014 2:12:08 PM EDT
[#39]
I realized this as well. You have to maintain the property as well as pay taxes. In my case I had to totally renovate the house. Now my taxes went up.
On top of that if you have a 30 year mortgage you end up paying about 3 times what the home was worth. Although I would not want to live in an apartment. Quote HistoryQuoted:
Yeah? I just wrote checks for property taxes for over $2900.00 and realized I don't own jack. I'm just renting it from the government. Merry Christmas! |
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Posted: 12/21/2014 2:12:17 PM EDT
[#40]
Quote HistoryQuoted: We snapped up our house on a short sale [short, my ass] when the market bottomed out here....sellers bought it for 284k...we bought it for 165k. couldn't be happier with our purchase. I paid $140K for mine when the market was near bottom. Opportunities like that don't come along very often, and I had missed out on two previous cycles because I just didn't have the income or cash for a down payment. |
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Posted: 12/21/2014 2:13:42 PM EDT
[#41]
18 years ago today, I got married.
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Posted: 12/21/2014 2:34:59 PM EDT
[#42]
Quote HistoryQuoted:
18 years ago today, I got married. My condolences. |
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Posted: 12/21/2014 2:35:48 PM EDT
[#43]
I'm on my 3rd home and unless i come into a large sum of money, I'm keeping this one. It still needs some work, but it's in a nice town, in a nice neighborhood and on a nice lot. It's a lot less than some have, and a lot more than others have. I feel very fortunate!
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Posted: 12/21/2014 2:36:14 PM EDT
[#44]
Quote HistoryQuoted:
18 years ago today, I got married. Rules - follow them. 
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Posted: 12/21/2014 2:38:43 PM EDT
[#45]
I'm a landlord four times over. I love renters.
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Posted: 12/21/2014 2:53:32 PM EDT
[#46]
August 2003 for me. I keep thinking about how much cash I've wasted at Lowes and such over the years. Still not sure it's worth it. Always something to do, "free time" is a thing of the past.
That said, sharing a wall or a ceiling with a neighbor ain't for me. |
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Posted: 12/21/2014 2:54:45 PM EDT
[#47]
Quote HistoryQuoted:
Rules - follow them. Quote HistoryQuoted:
Quoted:
18 years ago today, I got married. Rules - follow them. Didn't you read my post? I said I have married for 18 years. You think I don't know how to follow the rules???  I am the one on the left, especially after
but usually it is this 
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Posted: 12/21/2014 2:59:59 PM EDT
[#48]
8 years in for me. I love it. There is all of the upkeep, but I enjoy putting equity in what I can call my own place.
I spend a long time in tiny, shitty apartments to save up for the down payment but it paid off in the end. |
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Posted: 12/21/2014 3:46:18 PM EDT
[#49]
Quote HistoryQuoted:
Some folks wrongly say that you don't "own" your home because you are in debt to pay taxes. Taxes are not a debt, they are an expense. I OWN my home. I can control my expenses: I can put off or do my own repairs, get bids for work I can't do. I do my own plumbing, electrical, remodeling, landscaping and decorating. I can turn the heat down, cut my own firewood. I can shop for insurance, select coverages and deductibles, balancing need and cost. I can pay off my mortgage early, not tapping my equity for stupid things like a new car/truck. Being generally healthy, no kids and no debt, have not itemized deductions for over 15 years. So really, until and unless I sell my property, taxes are not an expense, they are an obligation imposed by government. It is the taking of my work, a re-distribution of my money, for the "common good". A debt. Which I am required to pay. If I want to continue to OWN my property. |
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Posted: 12/21/2014 3:54:01 PM EDT
[#50]
Quote HistoryQuoted: I'm a landlord four times over. I love renters. Here's a question for you: Do you structure your rents so that you collect enough on each property to cover its respective costs - P&I, tax, insurance, upkeep, etc.? I believe that most landlords do at least try to break even. My point is that even when you rent, you are paying for the whole shooting match (which may or may not be less than you could buy your own place for.) |
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