Random Thoughts - Part Deux [NO POLITICS]

[Tcoat]

Originally Posted by Cole

Gotta stack that paper. Housing market is fucked, in 23ish years, my parents house for example, went from 168k to nearly 600k. Can't afford shit at the moment without a gigantic (80-100k) down payment and a double income. Gotta sacrifice to have things.



For me, Monday- Friday, 730ish to whenever I want to leave basically.

For everyone else, Sunday- Saturday, 7 to laaaaaaaaate

My son just bought a house that 5 years ago would have went for under $100K for $190K. Houses here are not near as bad as around your area but that is still a huge jump for London.

[babydriver]

We are in the process of selling our house, because the market is just right. Our immediate neighborhood has jumped about 33% in the past 3 years and we can make enough money out of the sale to just about pay cash for the next house. There is likewise another neighborhood in another part of town with a golf course and some really nice homes that are selling for much less. What is the difference? The schools. The schools in the other location just suck. However, since my daughter is graduating from high school in two weeks and she is our youngest, WHO CARES?



We will need a small mortgage to reach the sale price of these other homes, but they are very comparable in size and quality to the one we have. The mortgage payment should be about $350/mo, plus taxes, insurance and the HOA fees.

I don't actually play golf, but might learn how.

[Cole]

Originally Posted by Tcoat

My son just bought a house that 5 years ago would have went for under $100K for $190K. Houses here are not near as bad as around your area but that is still a huge jump for London.

Yeah, I could easily get a mortgage for 190k, and the payments would be easy, could probably pay that off in 15 years or so. Unfortunately, that's a unicorn price for the areas I'm looking at. With what I make, and my current expenses, I've only been approved for $250k with a 20-30k down payment. Would like to be closer to Markham, but at the same time, I have no idea what the plan is for the next year or two.

I may be going back to school for electrical or mechanical engineering technology, or maybe not. Hard to decide, as it's a scary thought leaving a well paying job to go back to part time money.

But, since mom and dad sold their property in Elora and made much more than they expected, they'll be paying off the cottage and the house and possibly kicking some money my way. That would be awesome as I could get a much higher amount for a mortgage and not have to settle for something.

[soulreapersteve]

I've been looking at potential houses and locations since last week when I paid the car off.

Even if I made 100k/year *AFTER* taxes, I still can't afford to buy in Seattle on my own. Holy fuck its expensive as all hell. Gotta move further away from where I am at right now to get into the more modest homes under 250k.

Guess I have a new goal now, aim for that promo and save up for down payment in a couple of years.

Life, I hate you.

[Nevermore]

http://bringatrailer.com/listing/1989-bmw-m3-6/


If I had the money, this could solve a lot of my decision making issues. The only thing I'd need to change is I'd probably try to get an SMG transmission to match the S52, but that's really it.

[Tcoat]

Originally Posted by Nevermore

http://bringatrailer.com/listing/1989-bmw-m3-6/


If I had the money, this could solve a lot of my decision making issues. The only thing I'd need to change is I'd probably try to get an SMG transmission to match the S52, but that's really it.

But then you have bought not built and everybody will make fun of you!

[MisterSheep]

Originally Posted by Nevermore

http://bringatrailer.com/listing/1989-bmw-m3-6/


If I had the money, this could solve a lot of my decision making issues. The only thing I'd need to change is I'd probably try to get an SMG transmission to match the S52, but that's really it.

damn! E30 m3!

[bcj]

1980 Ferrari 512BB Flat Twelve

There you go

[MisterSheep]

Originally Posted by bcj

1980 Ferrari 512BB Flat Twelve

There you go

Will it fit in my 86?

[Nevermore]

Originally Posted by Tcoat

But then you have bought not built and everybody will make fun of you!

Haha I don't care, I'm too lazy to build. Even if I bought a junker to fix up, at least half of the work will be handled by a shop, if not more. This removes that step entirely.

Originally Posted by bcj

1980 Ferrari 512BB Flat Twelve

There you go

I saw this but I had to choose which to post between the BMW and the engine. Besides, the selling price is more than $140k, that's just insane.

Originally Posted by MisterSheep

Will it fit in my 86?

You might have to cut a bunch of stuff, but sure, why not?

[Andrew025]

Originally Posted by babydriver

We are in the process of selling our house, because the market is just right. Our immediate neighborhood has jumped about 33% in the past 3 years and we can make enough money out of the sale to just about pay cash for the next house. There is likewise another neighborhood in another part of town with a golf course and some really nice homes that are selling for much less. What is the difference? The schools. The schools in the other location just suck. However, since my daughter is graduating from high school in two weeks and she is our youngest, WHO CARES?



We will need a small mortgage to reach the sale price of these other homes, but they are very comparable in size and quality to the one we have. The mortgage payment should be about $350/mo, plus taxes, insurance and the HOA fees.

I don't actually play golf, but might learn how.

I'm in a similar situation.
Value has gone up a bunch and likely to go up more since they're building more and developing the area I live in.
Deciding if I want to sell and move within the next year.

[Dadhawk]

Originally Posted by babydriver

...The schools in the other location just suck. However, since my daughter is graduating from high school in two weeks and she is our youngest, WHO CARES?.

Well, that depends if you care about resale value/appreciation or just the upfront cost.

If the schools don't improve or go further downhill the value may not go up as quickly, or could decline below the current price which will further impact resale. Declining or poor performing schools could be a reflection of a larger issue in the area.

Not saying it's good/bad either way but is something to consider if you have not.

[Cole]

Originally Posted by soulreapersteve

I've been looking at potential houses and locations since last week when I paid the car off.

Even if I made 100k/year *AFTER* taxes, I still can't afford to buy in Seattle on my own. Holy fuck its expensive as all hell. Gotta move further away from where I am at right now to get into the more modest homes under 250k.

Guess I have a new goal now, aim for that promo and save up for down payment in a couple of years.

Life, I hate you.

Funny, I found a nice little (and by little, I mean less than 800sqft) bungalow close to the "downtown core" of the city I live in. It looked like a decent place, but needed some work to modernize the inside, and make the outside look like less of a shit hole. They wanted $250k for it. I just had to laugh, especially considering it's in one of the rougher areas of the city.

Right now, pickings are super slim for the areas I'm seriously considering, at the price I'm willing to pay. Also trying extremely hard to find a place with a garage that's big enough to work in.

[AznKirby]

Originally Posted by Cole

Funny, I found a nice little (and by little, I mean less than 800sqft) bungalow close to the "downtown core" of the city I live in. It looked like a decent place, but needed some work to modernize the inside, and make the outside look like less of a shit hole. They wanted $250k for it. I just had to laugh, especially considering it's in one of the rougher areas of the city.

Right now, pickings are super slim for the areas I'm seriously considering, at the price I'm willing to pay. Also trying extremely hard to find a place with a garage that's big enough to work in.

Toronto ?