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Someone was told me 25-28% of your budget should be housing costs,inclusing utilities. I don't know where that comes from but seems high. Depends where you are in your career, I guess.

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we paid our first house off...and I was fine with it, but the area was getting overrun if you catch my drift and it was time to move. Sucks to have a house payment again but we were able to put a big chunk down and payments are less that most car payments I hear about these days. Taxes are also half what they were from the county we moved from so that also helps. Utilities about half also. Its real close to the kids school so I guess we are stuck here until they get out of highschool. We have some land about 30 minutes away where we hunt and I'd like to build something on it at some point. Just wasnt convenient for us with kids now.

The only thing I regret about the new house is its big...lot of upkeep. Also takes over an hour on the ztr to mow the yard and thats going all out.

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Originally Posted by LoadClear
Originally Posted by MM879
Get a bigger house than you think you need. They shrink over time.

Disagree- get a small house than you think you need. You accumulate chit to fill whatever house you live in... smaller house, less chit.

(I'm moving from a 3400 sq foot house to a 2700 sq foot one... I have no idea what I'm gonna do with all this chit.


^^^^^^^^^^
That's right!

I've down sized twice. Its hard to part with some stuff but as I get older I realize I can't swap transmissions or engines. The place we're in now is very small but we got it cheap and had money to upgrade the things that matter like bathrooms and kitchen. It was all paid for up front.

My wife is soon gonna be working from home full time, that might put us in a pinch for space again but we'll make it work.

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trying to build now but building prices per sq ft, if you're lucky enough to find a builder, are ridiculous.Getting quotes of 235 to 255 a sq ft to build now

This parcel was $135,000 a year ago and more than doubled in price, Any house under 800 k is gone in under an hour or there is a bidding war.

https://www.zillow.com/homedetails/11941-N-Avondale-Loop-Hayden-ID-83835/204488393_zpid/

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I’d depends -

1. do you or your wife like cleaning .... if not don’t buy a bigger house.

2. Does your wife buy so much crap (Hoarder) until you are pilling stuff on top of each other ... smaller is better.

3. Big open spaces = more comfort inside, but high heating & Air Conditioning bills


We have up sized and down sized a couple times, I like the bigger open spaces but things can bite you in the arse.

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Originally Posted by ribka
trying to build now but building prices per sq ft, if you're lucky enough to find a builder, are ridiculous.Getting quotes of 235 to 255 a sq ft to build now

This parcel was $135,000 a year ago and more than doubled in price, Any house under 800 k is gone in under an hour or there is a bidding war.

https://www.zillow.com/homedetails/11941-N-Avondale-Loop-Hayden-ID-83835/204488393_zpid/


Indeed. We get letters from realtors here (Texas) wanting to purchase our two properties outside Sandpoint. A few recent full cash well over asking price sales nearby.


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Originally Posted by EdM
Originally Posted by ribka
trying to build now but building prices per sq ft, if you're lucky enough to find a builder, are ridiculous.Getting quotes of 235 to 255 a sq ft to build now

This parcel was $135,000 a year ago and more than doubled in price, Any house under 800 k is gone in under an hour or there is a bidding war.

https://www.zillow.com/homedetails/11941-N-Avondale-Loop-Hayden-ID-83835/204488393_zpid/


Indeed. We get letters from realtors here (Texas) wanting to purchase our two properties outside Sandpoint. A few recent full cash well over asking price sales nearby.



Just put a bid on 5 acres s of Sandpoint last weekend just for an investment, Unimproved Land is going now for 50k to 70 k an acre now if you can find it. Supposedly the fastest growing Realestate imarket n the US.

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Originally Posted by deflave


Properties are investments. It’s no different than sinking a lot or a little into a business or stocks. Properties are not toys.

If you’re predictions and efforts are sound, you’ll get a nice return. If they’re off, you won’t.

The whole comparison to your current annual salary is pretty short sighted. Some Dave Ramsey schit.


Yep.


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It all comes down to what you enjoy... many really do not know.

I enjoy land, elbow room and doing my own thing in my own time and place.

Some prefer a penthouse in NYC with 30 great restaurants within 3 city blocks.

Some prefer a long commute to work to clear their mind... some do not.

Just like a well paying job that you hate... many stick with it because of the vacations and future it provides... but some live in a wilderness camp in a converted shipping container.

My first home was a 48' Ketch in Key Largo. Pros and cons.

My plan has always been to buy a distressed house in a great neighborhood... fix it up and exit to the next.

My last purchase was a 340 acre proposed 20-30 acre "farmette" WV subdivision that fell on it's face. NOT for most, but it gives me elbow room... and enjoyment.

Good luck.


If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.



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Originally Posted by EdM
Originally Posted by deflave


Properties are investments. It’s no different than sinking a lot or a little into a business or stocks. Properties are not toys.

If you’re predictions and efforts are sound, you’ll get a nice return. If they’re off, you won’t.

The whole comparison to your current annual salary is pretty short sighted. Some Dave Ramsey schit.


Yep.


Exactly...

Everything is either a "Consumable" or a "Commodity".

When a "Consumable" (car or shelter) can become a "Commodity"... it is a double win.

Homes typically fit this definition... so do 12 valve Cummins trucks... and 1985 Toyotas.


If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.



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Originally Posted by deflave


Properties are investments. It’s no different than sinking a lot or a little into a business or stocks. Properties are not toys.

If you’re predictions and efforts are sound, you’ll get a nice return. If they’re off, you won’t.

The whole comparison to your current annual salary is pretty short sighted. Some Dave Ramsey schit.

The salary thing is hanging your hat on a moving target. Better to hang that hat where you will land. Finance the just in case accounts, Insurance separately.

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I had a friend who let a realtor talk him into dumping a huge amount of money to upscale and buy a huge house in Coloraodo in 1999, and his new job, and the house it market imploded in 2007 - he lost his a huge amount of his life’s savings.

If you don’t know realistate make sure you do your due diligence.

That being said - loan rates are pretty low right now.

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Originally Posted by Spotshooter

I had a friend who let a realtor talk him into dumping a huge amount of money to upscale and buy a huge house in Coloraodo in 1999, and his new job, and the house it market imploded in 2007 - he lost his a huge amount of his life’s savings.

If you don’t know realistate make sure you do your due diligence.

That being said - loan rates are pretty low right now.



If he was able to hold on to it it would have doubled in value

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Originally Posted by ribka
Originally Posted by Spotshooter

I had a friend who let a realtor talk him into dumping a huge amount of money to upscale and buy a huge house in Coloraodo in 1999, and his new job, and the house it market imploded in 2007 - he lost his a huge amount of his life’s savings.

If you don’t know realistate make sure you do your due diligence.

That being said - loan rates are pretty low right now.



If he was able to hold on to it it would have doubled in value


+3x. Literally, three times the purchase price.

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I'm in too deeply according to Mr. Ramsey

2400 Sqft with full basement built for 3 of us.
House was built in 1999 for $120K on 100 acres at another $150K
It now sits on 72 acres and would sell in the $750K range[mostly due to land & location].

But my kid grew up hunting & roaming safely on OUR land. Now as a grown adult he lives for hunting.

These days our mortgage floats back and forth depending on what properties we own or don't own anymore. We always have at least one income producing property and are also always looking.
Kind of waiting for this current bubble to burst or at least settle down before making any moves.


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Originally Posted by MM879
Originally Posted by ribka
Originally Posted by Spotshooter

I had a friend who let a realtor talk him into dumping a huge amount of money to upscale and buy a huge house in Coloraodo in 1999, and his new job, and the house it market imploded in 2007 - he lost his a huge amount of his life’s savings.

If you don’t know realistate make sure you do your due diligence.

That being said - loan rates are pretty low right now.



If he was able to hold on to it it would have doubled in value


+3x. Literally, three times the purchase price.


probably. Like any investment have to ride the highs and lows for the long term

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About 4x my salary and don't regret it for a second. A mile of city owned woods next door, critters in the back yard, quiet cul-de-sac, good neighbors, outskirts but with city amenities, in the safest city in America according to US News and World Report. What's not to like? Paid cash because Sweetness paid for half. We aren't going to lose a dime on this place. Location, location, location.


My other auto is a .45

The bitterness of poor quality is remembered long after the sweetness of low price has faded from memory
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I wish I had enough liquidity to buy a second home in 2008

There were some serious bargains to be had from people that were upside down, I knew of two in a neighborhood I couldn't normally afford to buy into that were firesale prices. One in particular the guy was asking $299K. Today its a $600K home.

I'm in a better position today. Who knows, maybe Biden tanks the worlds economy and I can jump on something that catches my eye.


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Originally Posted by ribka
Originally Posted by MM879
Originally Posted by ribka
Originally Posted by Spotshooter

I had a friend who let a realtor talk him into dumping a huge amount of money to upscale and buy a huge house in Coloraodo in 1999, and his new job, and the house it market imploded in 2007 - he lost his a huge amount of his life’s savings.

If you don’t know realistate make sure you do your due diligence.

That being said - loan rates are pretty low right now.



If he was able to hold on to it it would have doubled in value


+3x. Literally, three times the purchase price.


probably. Like any investment have to ride the highs and lows for the long term

My daughter sent me her address of her new home they bought in the mountains. I used Bing maps to see where it was. Bing does a real estate history on the address. The home sold for $2,8M.

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Certain geographic ares are only going to grow in the US in the future, while others areas die and become high crime and unemployment ghettos and people flee urban areas especially on the east and west coasts and the mid west. Texas, AZ, ID, MT, WY, UT, FL, NC, SC are only going to get more expensive as new people flood in from socialist schitholes. Covid really accelerated the immigration



Originally Posted by MM879
Originally Posted by ribka
Originally Posted by MM879
Originally Posted by ribka
Originally Posted by Spotshooter

I had a friend who let a realtor talk him into dumping a huge amount of money to upscale and buy a huge house in Coloraodo in 1999, and his new job, and the house it market imploded in 2007 - he lost his a huge amount of his life’s savings.

If you don’t know realistate make sure you do your due diligence.

That being said - loan rates are pretty low right now.



If he was able to hold on to it it would have doubled in value


+3x. Literally, three times the purchase price.


probably. Like any investment have to ride the highs and lows for the long term

My daughter sent me her address of her new home they bought in the mountains. I used Bing maps to see where it was. Bing does a real estate history on the address. The home sold for $2,8M.

Last edited by ribka; 02/26/21.
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