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I am in a similar position as the Army guy above. I am a Navy LT, deployed until probably october of this year. Making all the tax free stuff an O3 makes, with a good BAH, totalling about 6300/month take home pay after everything else. After that I go back to my regular job, where I spend most of the year also deployed, but paying tax, where I end up grossing about 100-110K/year. I currently have about 100K saved up for a house, with more in reserve for "oh poo poo" money and some other whatevers that may come up. Cars are paid off, and I have, or at least had excellent credit. No other debt. I "live" in Northern Va, just outside DC and probably want to live there in the future. I am keeping my stuff at my folks house there. I am looking at houses now, up to about 350K, but as I have a non traditional lifestyle I am not sure if I can afford more or less. Here are what has me wondering: -For about 8 months of the year I am away, outside the country working, where everything except my alcohol and income tax is paid for. -If I buy a house, I would almost never be there for more than a month at a time, and would need to have someone take care of it. Roommate, friend, ?? Who would/should I trust with this? My brother may be moving to the area, I thought he could be a roommate... -DC is not a cheap area, and has been a mildly insulated from all the real estate mess of late. High property tax, high cost of living, but I know and like it here. -I am afraid that buying a house will trap me at my current job, and I will have to work to pay for a house. I am pretty sure I want the freedom of a house, but I like to be able to walk away. -I would rent, but why waste money on a place I am not there to see or use. I might at least be building equity I guess, except for above. There is more, but that is the basics. I asked this maybe a year back, thought I would ask again as my situation is slightly changed now. Anyone have any advice on if I should stand by or buy? Oh yeah, FWIW, I am 29 and single.
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May 19, 2009 14:06
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| # ¿ May 2, 2024 04:11 |
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Closed on a house in the DC area on Thursday, and don't get to see it again until mid Sept! My dad helped with the paperwork as I am deployed right now, and it was still painful from 8000 miles away. This thread helped me make some informed decisions, so thanks.
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Aug 2, 2009 12:22
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roadhead posted:Our deal seems to be zipping along smoothly, just got off the phone with lender and he claims we're all set to sign on Friday. I closed about 3 weeks ago, and had no extra nervousness, but I am about 8000 miles from my house still. Are you worried about buyers remorse, or unforeseen BS messing it all up?
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Aug 19, 2009 16:17
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Ranma posted:Not sure if this is the best place for this but - I'm thinking about replacing the windows in the house I recently purchased. The home was built in 1924, not sure when the windows were last replaced. The current ones are fairly drafty, so higher heating/cooling bills plus if you sit near them it is uncomfortable. More importantly for me, they let in a lot of noise, and my neighbor likes to sit on his front steps and chat (city rowhome, his front steps are connected to mine). Finally, some of the windows have broken sashes so they have to be propped open, and two have broken locks. There is a Fix it thread in CC that will give you better replies on this, but if the windows are being replaced, other than just the pane, the installer should be insulating and sealing the area around the edge of the window with foam and caulk. You will want to look at replacement windows as new construction are meant to be installed during construction. Either you or a salesman will take measurements and then a new unit will be made to fit. Pretty much all of them will be double pane, sealed with inert gas, and all that. Home depot or lowes should be able to set you up with something, or better ask a contractor. Expect to pay a few hundred to several thousand per window with installation, however some companies include the install in the purchase price.
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Aug 21, 2014 01:11
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A vacant set of 3 lots just went up for sale in my area. They are each appraised around 12000 per the county and the owner is asking 400k for the set. The county site on property info says they are "non buildable". Probably because the sewer line and a local stream bisect them. The various realtor pages have the listing but make no mention of the non buildable status. This is a residental zoned area. Why would someone ask so much for essentially useless land? Is there some other value I am not considering? Can a variance be sought out even in a flood plain? This is fairfax county Va, fwiw.
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Nov 11, 2014 01:16
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I live in NoVa and bought my first house in 2009 with deployment money, just South of Old Town and I am glad I got in when I did, even if my house is 60 years old, has all sorts of half assed "improvements" and whatnot. Since then it has probably increased over 100K in value. Anyone thinking of buying: take heed that houses cost more than you expect. In the last five years I needed a water heater, extensive landscaping/tree work, sump pump, new sump pump, insulation, and a million minor repairs. In my new place in the same area I moved to last august, I have had to replace one hose bibb and some pipe, insulate some garage duct, replace the bath faucet valve cartridge, replace a kitchen faucet handle, update numerous outlets from ungrounded to grounded, replace 2 failed double pane windows, and I still have a ton of other stuff to deal with when it warms up. The mortgage, utilities and insurance are the barebones. I see a lot of people cleaned out by jsut the closing costs, don't risk it!
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Feb 26, 2015 20:25
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Recently sold our home in the DC metro area and made out well. However we lost our 2.5% rate and we are now a few days from closing on a home in Hawaii that costs way way more (and at 4.275%) so we are on both sides of this wacky market. At least the mortgage will be a lot less than the rent.
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Jun 20, 2022 01:42
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I don't think you have to use a Hawaiian bank, but things here are definitely a bit different than the mainland. Property taxes are super low and insurance is pretty cheap too, but houses are often sheds on a $1000000 lot. Allegedly Hawaii trends lag about 6 months from the mainland too.
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Jun 20, 2022 02:49
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| # ¿ May 2, 2024 04:11 |
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Just did our closing sign-a-thon. We get the keys next Thursday.
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Jun 24, 2022 22:56
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