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mindwaves · Aug 23, 2005, 07:12 PM

Simple question. I find it that living in California with these sky-high real-estate that I will be renting for a very long time. A half-decent condo already costs $300,000+. Also, just curious of what age were you when you purchased your house. Anticipation awaits....

James L · Aug 23, 2005, 07:22 PM

Own.... well, the bank still owns most of it!

1800 square foot townhouse, 3 bedroom, 3 bathroom, 2 car garage.

Bought when I was 24. At that age I wasn't necessarily bent on buying, but it cost just as much to rent as it did to pay my mortgage. Plus, I am now in my early thirties with well over 100,000 in equity built up in it for when I upgrade my house in two years.

KeriVit · Aug 23, 2005, 08:10 PM

Thank goodness I bought 10 years ago! Even with a $30K loan on it, I still owe less than half of market value! What a sick market....

ghporter · Aug 23, 2005, 08:10 PM

I got tired of paying someone else for the privelege of living in a place that he got a tax break on. I wanted a place that was MINE. Further, when we decided to buy I had JUST gone over the magic 20 year point in my military career and we were ready to put down real roots.

Further, the school district was about to change the attendance zone for high school students where we were living then. We found a place that is literally ACROSS THE FENCE from the new school our son would be attending, so he could participate in any after-school function he wanted to without having to worry about whether or not there would be someone to drive him home (some four miles through heavy traffic) when he was done.

1800 ft², 3BR, 2BA, 2 car garage. It's also in a gated community, but we don't hold that against the place-though some of our neighbors think that those gates are the only things keeping the ravening hoards away from their begonias. Nope. Gated communities are only safer if they have 24/7 ATTENDED (manned) gates. Such places command a HUGE price premium...

We bought our first house in 1979. When we were transferred, we rented a while and then bought a house in 1985-this was Exactly The Wrong Time because the housing market in Austin Texas was about to go down the proverbial crapper. When I got an assignment to Panama in 1987, we lost a shirt and two pairs of pants on that house AND we still had to go to Panama for two years. After that we rented for a LONG time-all the way until we bought this place in 2002. I was 43 at that point.

KeriVit · Aug 23, 2005, 08:16 PM

Good point of ghporter in declaring an age, it does make a difference. Buy young people, it will pay off. I'm 34 and bought at 24. My mortgage for a 3 BR home is less than rent of an apartment these days.

__^^__ · Aug 23, 2005, 09:04 PM

In my neck of the woods, people pay $1200 for an apartment(oops, I mean town home). My house payment is $800.

sminch · Aug 23, 2005, 09:14 PM

turning 28 on friday, and bought my first house a week ago. it's 3 bedrooms on a 1/4 acre section, and is costing us about double what we were paying in rent for a dark little 1 bedroom apartment.

all good, assuming neither of us gets fired and nothing explodes / collapses any time soon. i'm hanging out for the day when we own more of it than the bank does

sminch

macroy · Aug 23, 2005, 09:21 PM

Own. First house at 28. Currently on 2nd house.

The good news is that my equity is now over 75% of the house based on the market value. The bad news is that my buying power for other houses have actually decreased...... what a freaky market.

Kevin · Aug 23, 2005, 09:23 PM

OWne3d and payed for.

budster101 · Aug 23, 2005, 09:27 PM

I hate renting. We've been through so much it was our only choice for this year, and hope to buy again very soon. It's like tossing money out the window with nothing to show for it.

Renting sucks.

Mr. Blur · Aug 23, 2005, 09:34 PM

own. nice-ish 3 bedroom, 3 bath townhome...i've not priced it out lately but one of my neighbours was told he'd get about $300,000cdn for it (i think that is a bit high myself...$250G is probably more like it but the market is pretty hot right now so maybe he's right)...anyway, still owe the bank a little bit (about $30G) which will be looked after within a few years if not sooner.

SpaceMonkey · Aug 23, 2005, 09:35 PM

Renting, entering a two year graduate program. I'm 22.

broxy5 · Aug 23, 2005, 09:41 PM

Let's see some pictures. I'll show you mine if you show me yers.

Own, 1 1/2 story, 1600sqft, 90 yrs old red brick house. Our first. We bought it a year ago for 150K, and have been fixing it up slowly. Almost done! I love it, but will leave it in a year.

ghporter · Aug 23, 2005, 09:47 PM

Here's mine just after it was finished in May 2002. We've had the trees trimmed by an arborist (NOT just some guy with a chainsaw!) and added a couple of neighbors to the right.

budster101 · Aug 23, 2005, 09:55 PM

Nice home! My wife and I love Ranches. Congrat's.

sek929 · Aug 23, 2005, 09:58 PM

Sadly since my Digi camera got stolen this my most recent pict of my place (I rent)

<shudder>

macroy · Aug 23, 2005, 10:01 PM

not mine (actually down the street) - but same model.

Scandalous Ion Cannon · Aug 23, 2005, 10:05 PM

I wonder if when people say OWN they mean they are living in their parents house rent free.

ReggieX · Aug 23, 2005, 10:19 PM

Rent. Can't afford a down payment, I put it into finally starting an RRSP. I don't buy into this "no money down" BS that just ties a larger anchor around your neck in an over-saturated condo market. If I moved somewhere I could afford a house, I'd just be spending all my time and money on operating a car and getting stuck in rush hour. Forget it!

Some shots of the place I moved into at the end of June, I've unpacked by now

Living Room:

Living room, and the Bedroom looking into the living room

Looking into the bedroom

Bedroom

Kitchen

LilWolfChokingOnCigs68 · Aug 23, 2005, 10:27 PM

I hate gated communities. It makes me want to vandalize SUVs and throw paint at houses everytime I see them.

"Oh, we're scared of colored people!" is what those gates are really saying.

budster101 · Aug 23, 2005, 10:29 PM

Nice place too. Our apartment doesn't have a Washer/Dryer... man, I miss having a W/D... I can't stand going to the Laundry Mat.

macroy · Aug 23, 2005, 10:34 PM

Originally Posted by LilWolfChokingOnCigs68

I hate gated communities. It makes me want to vandalize SUVs and throw paint at houses everytime I see them.

"Oh, we're scared of colored people!" is what those gates are really saying.

Uh... ok.... so no "colored" people live in gated communities?

And it's perfectly ok to vandalize property because you "assume" the owners have some type of racist motive?

budster101 · Aug 23, 2005, 10:34 PM

Originally Posted by LilWolfChokingOnCigs68

I hate gated communities. It makes me want to vandalize SUVs and throw paint at houses everytime I see them.

"Oh, we're scared of colored people!" is what those gates are really saying.

You are a horse's ass.

Gated Communities just insure the streets are clear of anyone wanting to 'cut through' and undue traffic, as well as people who are not invited into the neighborhood like any person wishing to stake out a house for robbing (no pun)...

What makes you think a black person can't afford to live in a gated community? Are you a racist Rob? Seems like it.

Hey, go ahead and vandalize an SUV and throw paint at houses every time you see them... whatever that means? It has nothing to do with this thread you psycho sociopathic egomaniacle dweeb...

Scandalous Ion Cannon · Aug 23, 2005, 10:38 PM

I don't like the gate idea either. Seems even more hiding, suspicion, fear than usual.

iMOTOR · Aug 23, 2005, 10:39 PM

Originally Posted by LilWolfChokingOnCigs68

I hate gated communities.

I think the idea of gated communities is used as a status symbol for a lot people.

It's not like in the history of mankind, gates have kept criminals out.

cjrivera · 11:42 PM

Own. Or rather, paying the bank a lot to own (although when we built the house, interest rates were extremely low.)

Edit to fully answer the original question: at age 30
Edit again: Found an old pic of the house

mindwaves · Aug 23, 2005, 11:00 PM

Nice places people. Very interesting.

Keep on topic people!

cjrivera · Aug 23, 2005, 11:05 PM

Originally Posted by macroy

not mine (actually down the street) - but same model.

wow. Beautiful place.

Mr. Blur · Aug 23, 2005, 11:45 PM

Originally Posted by ReggieX

Rent. Can't afford a down payment, I put it into finally starting an RRSP. I don't buy into this "no money down" BS that just ties a larger anchor around your neck in an over-saturated condo market. If I moved somewhere I could afford a house, I'd just be spending all my time and money on operating a car and getting stuck in rush hour. Forget it!

Some shots of the place I moved into at the end of June, I've unpacked by now

nice flat there Reg...what area of the city is it in...from the appearance it looks like either Annex or maybe High Park?

Scandalous Ion Cannon · Aug 23, 2005, 11:49 PM

Originally Posted by Mr. Blur

nice flat there Reg...what area of the city is it in...from the appearance it looks like either Annex or maybe High Park?

High park is my stomping grounds!

baw · Aug 24, 2005, 12:00 AM

Own at 21 years of age.

Timo · Aug 24, 2005, 12:22 AM

I don't see the choice "own AND rent".

We're renovating -- mortgage and rent is a killer.

Warung · Aug 24, 2005, 12:29 AM

I think gated communities are an affront to modern progressive societies and a total slap in the face of the democratic ideals our western culture aspires to.

That kind of pseudo elitism just makes me sick.

Anywho, OT, I rent in a heavily multi ethnic neighborhood, where the crime rate is about as low as in any soda cracker white 'burb.

I have absolutely NO desire to own (an apartment or a house), ever. A roof over my head is good enough...DSL, a D/W and at least some kind of parking are the only other things I need.

...well, hard-wood floors and a patio would be nice. But soon...very soon.

quesera · 12:34 AM

We're approaching our one year move in anniversary, bought in October 2004 after about five hard years of getting our financial act together and looking in a very specific area. We live near our old high school in a historic neighborhood.

Our house was built in 1936 in the style I believe is called Monterrey. We've been told it looks like everything from a New Orleans brothel to a little plantation house. It's home to us and we enjoy the 100+ degree Texas summer from our balcony. We walk the dogs and go to the little urban lake and my six year old daughter has a place to play and run and grow. She took off her training wheels this summer and that makes every mortgage payment well worth it. I guess they call it quality of life.

We have no wickedly long commutes and really enjoy living here. I never dreamt about homes as far as I recall, but I guess this is our dream home. If we won the lottery I am certain we'd still be here, replacing the central air and rewiring slightly faster than under our current plans and finances. I'd post a pic, but I'm embarrassed to say, I've never learned how.

Oh yes, I'm 33 and my wife is 30.

baw · Aug 24, 2005, 12:33 AM

Originally Posted by Warung

I think gated communities are a affront to modern progressive societies and a total slap in the face of the democratic ideals our western culture aspires to.

That kind of pseudo elitism just makes me sick.

A gated community makes no sense to me.

Scotttheking · Aug 24, 2005, 12:47 AM

Rent.
Captive market, I won't be living here if once I graduate, and, yeah.

Railroader · Aug 24, 2005, 01:51 AM

Own. I was 27 when we bought our first in 1997, sold it in 2002 and bought our current house. And our current house is for sale (property line is in white). We are currently looking for a country lot of a few acres to build on.

iMOTOR · Aug 24, 2005, 01:54 AM

Does the house come with the PVC pipe hovering over the property?

Randman · Aug 24, 2005, 01:59 AM

Used to own. Had a house in Minnesota (early 90s) then a townhome in South Carolina (mid to late 90s). After I went abroad for work, it's been rentals.

Railroader · Aug 24, 2005, 02:01 AM

Originally Posted by iMOTOR

Does the house come with the PVC pipe hovering over the property?

Buy the house, I'll throw it in for free!

That picture is used to illustrate the odd property line I have.

iMOTOR · Aug 24, 2005, 02:04 AM

Originally Posted by Railroader

That picture is used to illustrate the odd property line I have.

It looks a lot like a picture of a model train village to me.

Railroader · Aug 24, 2005, 02:11 AM

Originally Posted by iMOTOR

It looks a lot like a picture of a model train village to me.

Funny you say that. Durand is a town know for it's trains. I only live a few blocks from the depot depicted in my signature picture.

http://durandstation.org/

low altitude arial pictures have that effect. And the next time you see a model train village you'll appreciate how realistic they are.

JustAnOl'Broad · Aug 24, 2005, 02:48 AM

I voted "Neither"; hard to explain the arrangement - but guess it
works out as barter. We do some of the chores on the ranch, help keep
the place up, mowing and watering, and generally babysit the
place and the pets when the owners are outa town (alot).
Only 80 acres of walnuts - not a labor intensive crop.
Clean, private, and right on the Sacramento River in Northern California.
It works for us.

(If they rented the place it would probably go $750-1000 a month;
if they sold the little house and say a 1/4 acre or so - it could fetch
over $100K.)

ReggieX · Aug 24, 2005, 07:10 AM

Originally Posted by Mr. Blur

nice flat there Reg...what area of the city is it in...from the appearance it looks like either Annex or maybe High Park?

Little Italy.

Originally Posted by budster101

Nice place too. Our apartment doesn't have a Washer/Dryer... man, I miss having a W/D... I can't stand going to the Laundry Mat.

It's been so long since I've had one that I just don't even think about it. I don't mind going to the laundromat, I just go to the corner and grab a coffee and get some reading done.

ghporter · Aug 24, 2005, 07:23 AM

Originally Posted by budster101

Nice home! My wife and I love Ranches. Congrat's.

Thanks. It really fits well where we are: just short of the Hill Country in Southcentral Texas.

rickey939 · Aug 24, 2005, 07:26 AM

I currently rent; however, by next August, my wife and I plan to own by either building a townhouse, or purchasing a pre-existing "fixer-upper" home.

dav · Aug 24, 2005, 07:33 AM

own. townhouse when i was 25, single family at 29.

Doofy · Aug 24, 2005, 08:05 AM

Own (and paid for).

It's up for sale later this year if any of you fancy a piece of English history.

Doofy · Aug 24, 2005, 08:17 AM

Originally Posted by Warung

I think gated communities are an affront to modern progressive societies and a total slap in the face of the democratic ideals our western culture aspires to.

Yep, that's right - aspires to but will never achieve.

The day you get hard on burglars (i.e. 50 years in solitary confinement for first offence) is the very same day those gated communities go away.

Anyways... Back to the thread topic...

residentEvil · Aug 24, 2005, 08:29 AM

Moved around a lot, renting, from late 1993 to early 2000. Then had a loft from early 2000 - early 2003. Bought a house almost 1 year 11 months ago

I have lots of photos but only a few have been posted (see home theater threads in the lounge).

I took out an 80/20 loan to avoid PMI and no money down to move in. I'm doing a refi in just over a month (once my fixed 2 years are over; no more early payoff fees) and will take cash out/pay off debts i've accumulated over the last 1 year and 11 months fixing the place up.