Buying a house
Planted Tank Forums
Your Tanks Image Hosting *Tank Tracker * Plant Profiles Fish Profiles Planted Tank Guide Photo Gallery Articles

Go Back   The Planted Tank Forum > General Forums > The Lounge & Introductions


Reply
 
Thread Tools Display Modes
Old 12-30-2004, 05:11 AM   #1
GDominy
Planted Tank VIP
 
GDominy's Avatar
 
PTrader: (0/0%)
Join Date: Jul 2002
Location: Victoria,British Columbia, Canada
Posts: 3,363
Default

Buying a house


Well.. I started down the slippery slope and got a mortgage approved today... Now I get to start the fun part... looking for a house I can afford ;-)

It's tough to find something in my price range in this City.. but with any luck I can find something in the $180,000-$230,000 range...

Keeping my fingers crossed!
GDominy is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 12-30-2004, 06:34 AM   #2
amanda huggenkiss
Planted Tank Enthusiast
 
amanda huggenkiss's Avatar
 
PTrader: (0/0%)
Join Date: Mar 2004
Location: Vancouver, BC
Posts: 955
Default

Wow. Good luck with that, Gareth. I still haven't taken that plunge. The only things I can afford in this city are out in the 'burbs, and I really don't want to deal with a commute.
__________________
29g Eheim Classic 2213, community, heavily planted, 65W CF, 2x Hagen CO2
20g Fluval 3 Plus, nothin' but shrimp & snails, 65W CF, Hagen CO2

wannacomewith.com
amanda huggenkiss is offline   Reply With Quote
Old 12-30-2004, 12:31 PM   #3
Buck
Planted Tank VIP
 
PTrader: (3/100%)
Join Date: Oct 2002
Location: Lebanon, CT
Posts: 4,939
Default

I would drive 50 miles to be out of a city, I love the "burbs" ! No sirens , no traffic lights no hustle and bustle , no streetlights ... no ... I could go on forever

Thats great Gareth ! I wish you luck in your search... one hint for you... DONT SETTLE for something that dont quite fit your needs and be sure to fork over the extra bucks for an inspection before buying. Im not sure what the market is like up there but when you invest in a house its an investment that needs some heavy duty investigation. There is always a reason that someone is selling their home.

Make a list of what you want... square footage, land , rooms , location , etc. and give it to a R.E. Agent... A good real estate agent is worth the money for the leg work. Friends, family and co-workers that have recently purchased a home can help you sort through them.
__________________
Buck is offline   Reply With Quote
Old 12-30-2004, 12:40 PM   #4
bigpow
Planted Tank Enthusiast
 
bigpow's Avatar
 
PTrader: (4/100%)
Join Date: May 2004
Location: Petaluma, CA
Posts: 750
Default

Aha! Now I know why you have all those nice equipments... jk

Are you raising your family?
I live in the "burbs" and personally, I don't see much advantage if you don't have kids yet. More disadvantages in fact (less places to go at night, etc.)

You were referring to CAD right? $200K sounds low.
Median price here is around $550K for an older 3/2 home. Brand new one would cost ~$800K. (---> US$)

Buck is right on the money, don't forget to get a professional home inspection & I would recommend you get a pest inspection as well. This is assuming you're shopping for a used home.

Good luck on your new voyage!
__________________
Eheim Pimp Club Member #74
bigpow is offline   Reply With Quote
Old 12-30-2004, 12:46 PM   #5
Buck
Planted Tank VIP
 
PTrader: (3/100%)
Join Date: Oct 2002
Location: Lebanon, CT
Posts: 4,939
Default

Quote:
Originally Posted by bigpow
Median price here is around $550K for an older 3/2 home. Brand new one would cost ~$800K.
Are you kidding me ? Those homes better come with 10 acres of land MINIMUM for that price or all you would be seeing is the license plate on the back of my U-Haul.
__________________
Buck is offline   Reply With Quote
Old 12-30-2004, 01:44 PM   #6
GulfCoastAquarian
Planted Tank VIP
 
GulfCoastAquarian's Avatar
 
PTrader: (6/100%)
Join Date: Jul 2002
Location: Winston-Salem, NC
Posts: 3,578
Send a message via ICQ to GulfCoastAquarian Send a message via Yahoo to GulfCoastAquarian
Default

Good luck, Gareth! There really is such a feeling of "having arrived" when you own your own home. I sure am thankful for the prices of homes around here, though! You could buy a gorgeous 2500 sq ft 3BR/2BA house in a well established, covenant-controlled subdivision, for under $150k.
__________________
- Sam P -
plantedtanker in limbo - all tanks currently in storage
GulfCoastAquarian is offline   Reply With Quote
Old 12-30-2004, 02:41 PM   #7
GDominy
Planted Tank VIP
 
GDominy's Avatar
 
PTrader: (0/0%)
Join Date: Jul 2002
Location: Victoria,British Columbia, Canada
Posts: 3,363
Default

Prices in my City (and province) are some of the highest in Canada.. which makes this a very challenging prospect.. most half decent condo's are selling around the $160,000 mark so this is a pretty scary prospect so far....

It's tough to find anything in my required square footage for under $260,000 but I"m looking.... probably for the next year... lol

Oh well.. the way I see it.. buying my first house before I'm 30 is a good way to go...
GDominy is offline   Reply With Quote
Old 12-30-2004, 02:50 PM   #8
GDominy
Planted Tank VIP
 
GDominy's Avatar
 
PTrader: (0/0%)
Join Date: Jul 2002
Location: Victoria,British Columbia, Canada
Posts: 3,363
Default

Quote:
Originally Posted by bigpow
Are you raising your family?
No Family yet, just a girlfriend who probably wont be living with me.

Quote:
Originally Posted by bigpow
I live in the "burbs" and personally, I don't see much advantage if you don't have kids yet. More disadvantages in fact (less places to go at night, etc.)
I live on Vancouver Island, in Greater Victoria (population under 200,000), night life here is limited to the downtown core wich is only about 1.5 square miles.... Living in town is NOT an option...

Quote:
Originally Posted by bigpow
You were referring to CAD right? $200K sounds low.
Median price here is around $550K for an older 3/2 home. Brand new one would cost ~$800K. (---> US$)
Welcome to Canada ;-)
GDominy is offline   Reply With Quote
Old 12-30-2004, 02:54 PM   #9
Kris
Planted Tank Enthusiast
 
PTrader: (0/0%)
Join Date: Feb 2004
Location: grapevine, tx
Posts: 537
Default

we went through that as well--and ended up spending 30K more than we initially wanted to. i wouldn't trade the house or the neighborhood. that's the important thing-that you get what you want long term. in my opinion, once i bought the house, i wasn't ever doing it again!
good luck!
__________________
He who dares to teach must never cease to learn.

30 gallon tall, pressurized CO2...killer lights
50 gallon long, killer filtration, low tech otherwise
Kris is offline   Reply With Quote
Old 12-30-2004, 03:02 PM   #10
GDominy
Planted Tank VIP
 
GDominy's Avatar
 
PTrader: (0/0%)
Join Date: Jul 2002
Location: Victoria,British Columbia, Canada
Posts: 3,363
Default

Here are a few links to houses in my area for an idea of the cost...

http://www.mls.ca/PropertyDetails.as...ertyID=3060621

http://www.mls.ca/PropertyDetails.as...ertyID=2977425

http://www.mls.ca/PropertyDetails.as...ertyID=3015981

You can see the running trend... 25+ year old houses.... I don't have a lot of money so its pretty frustrating.. I would prefer something newer, but I simply don't have the money, and I don't qualify for more then a $222,000 mortgage with $20,000 down...
GDominy is offline   Reply With Quote
Old 12-30-2004, 04:37 PM   #11
bigpow
Planted Tank Enthusiast
 
bigpow's Avatar
 
PTrader: (4/100%)
Join Date: May 2004
Location: Petaluma, CA
Posts: 750
Default

Well... here are some listings from my area:
Realtor Search Result
--- townhouse/condo starts around $400K+

Age doesn't matter, if you have the means then buy the house.

The sooner, the better.

If you can't afford that nice house now, then you won't be next year (unless you hit the jackpot) - property price increases faster than average salary, investments, interests, etc.

1. Buy a single property House - detached. Don't get condo/townhouse (HOA = hidden cost, non-tax deduct.)
3bd/2ba w/ 2 car garage = standard/min.

2. Location, location, location (you could always change your house, but never the neighbourhood)

3. It is OKAY to get a house in the most expensive area of the town/country. This only means that the house value WILL appreciate faster than other areas

If you can't afford the 30year mortgage, then get the ARM loan. You can re-fi every time interest rate drops.

I'm not trying to be a smart-a$$ here... just want to share my experience.
I wish somebody would tell me when I was younger
__________________
Eheim Pimp Club Member #74
bigpow is offline   Reply With Quote
Old 12-30-2004, 04:52 PM   #12
questnjurny
Algae Grower
 
PTrader: (0/0%)
Join Date: Nov 2004
Location: Vancouver Island, BC
Posts: 93
Default

Have fun looking at houses! And don't get discouraged....you will look at many before you find what you are looking for. When I was looking to buy my house someone said not to look at more than 4 houses a day because they all start blurring together. Get your RE agent to give you photocopies with the info of each house and makes notes on it about what you like and dislike. I bought my first house when I was 23 in Alberta where prices are a little better ($105, 000 in town!) but had to sell when I moved back to the island. It was a very sad day, I loved my house...esp when I moved back in with my parents. (couldn't afford to pay the mortgage and go to school...darnit!) Now i am hoping that I have my money invested well enough that I will be able to afford a small acreage (no house) when I am done nursing school in a couple years...I am starting to believe that won't happen...maybe I will be at my parents forever...unlikely, but they have a nice acreage for my dogs.

Good luck with the hunt!
questnjurny is offline   Reply With Quote
Old 12-30-2004, 05:04 PM   #13
thezone
Algae Grower
 
PTrader: (0/0%)
Join Date: Jun 2004
Location: Toronto
Posts: 38
Default

Wow i'm suprised that you can get what looks like a fairly decent sized house with a big back yard for that kinda money. In toronto with $300k we got like a little 2 story semi-detached with basically no backyard and the house is at least 30+ years old. Anyways i think the 1st one looks nicest compared to the others and i'm pretty sure you can talk the sellers into lowering the price since the housing market is cooling down.
thezone is offline   Reply With Quote
Old 12-30-2004, 05:35 PM   #14
Ahkuma
Planted Member
 
Ahkuma's Avatar
 
PTrader: (2/100%)
Join Date: Dec 2004
Location: Sac Ca
Posts: 255
Default

My local paper as of Dec 23rd listed the town I live in to have a median home price of six hundred thousand. I have a very good job and there is no way I could afford a house in California. I envy you guys.

I like the advice that bigpow gave.
Ahkuma is offline   Reply With Quote
Old 12-30-2004, 07:49 PM   #15
GDominy
Planted Tank VIP
 
GDominy's Avatar
 
PTrader: (0/0%)
Join Date: Jul 2002
Location: Victoria,British Columbia, Canada
Posts: 3,363
Default

Oh....My...God....

The place I am renting right now is going up for sale in teh next 2 months... lol... How is that for timing???

My landlord was going to list it for $299,000 but will sell it to me for $270,000 since we don't have to go through a realtor... and it has a suite (that I currently live in) that I can rent out to go against my income to get a higher mortgage.
GDominy is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 05:54 AM.


Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright Planted Tank LLC 2012