#MillenialsAreRuiningHomeOwnership

Are there things you wish you didn't do? Things you wish you considered?

From a financial perspective, I think purchasing a home is not a good idea except for certain circumstances (planning on being in the house long term is one of those circumstances).
But I understand there are other reasons outside of money to buy a home

https://www.cnbc.com/amp/2018/07/18/most-millennials-regret-buying-home.html

Millennials aren’t exactly jumping for joy after purchasing their homes.

About four in 10 millennials are already homeowners, according to a new survey of over 600 millennials (age 21-34) by Bank of the West. Yet it turns out that 68 percent of them are feeling buyer’s remorse — almost double the amount of Baby Boomers who say they have regrets.

“Millennials are so eager to become homeowners that some may be inadvertently cutting off their nose to spite their face,” says Ryan Bailey, head of Bank of the West’s retail banking.

Here are the biggest areas of remorse.

Overspending on the down payment
View interactive content
Roughly four in 10 millennials felt they made poor financial choices when it came to purchasing their home. Part of the problem seems to revolve around the down payment. The survey found one in three millennials dipped into their retirement accounts to pay for their homes — a trend Bailey calls “alarming.”

“Borrowing from your retirement may make sense in special circumstances, but it’s definitely not a recommendation,” Bailey tells CNBC Make It.

To keep from getting squeezed, think about what you can afford as a monthly payment, and don't forget to include taxes and insurance in your calculations, Danielle Hale, chief economist for Realtor.com, tells CNBC Make It.

Use filters on home search sites and price alerts to make sure you're not shopping for a home above your budget. "Don't fall in love with something that's already out of your price range," Hale says.

Underestimating ongoing costs
When you buy a home, the expenses don't stop once you move in.

Millennials understand basic costs, such heating and electric bills, but Bailey recommends also considering how much time and money it could take to mow the lawn, clean the house or deal with leaky faucet.

“When you’re a homeowner, you can’t call your landlord to fix things, so you want to make sure you have a little extra cash in the bank,” Hale says.

It's a big transition going from renter to homeowner, so make sure to take some time to learn about the maintenance costs associated with potential homes.

Settling for something that's not quite right
Finding the right fit is as important as having the right budget when it comes to home ownership. The survey found that about half of millennials had regrets about the home itself.

One in five said they were frustrated by damages they found after moving in, while others said they discovered the house didn't end up working well for their family.

To avoid unexpected expenses, experts recommend getting a home inspection before finalizing the sale. "Especially if you're a first-time buyer or new to home ownership, you may not even know what to look for, so you definitely want to have the expert on your side," Hale says.

It can also help to nail down what you really need in a home. Make a list of your must-haves before you start looking and know what you're willing to compromise on, Hale says. It's currently a very competitive market, so chances are, you're going to have to make compromises.

In fact, about two-thirds of home buyers reported compromising on some sort of home characteristic, according to a survey from the National Association of Realtors.

"The more targeted your search is," Hale says, "the more chance you won't waste your time or get distracted by homes that ultimately aren't a good fit for you." Follow this advice, and you can avoid purchasing a home that you regret.

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It's an old house, so I already know that work needs to be done and I will do it. Have long been aware of how much it takes to maintain a house from helping my mom and pop maintain their house growing up. Roofing and plumbing work is expensive. Prospective homeowners should know this.

Home ownership is definitely not for someone that wants to live a carefree life travelling around on whims and having your weekends free to do whatever.

are suckered into buying homes over 100k with 30 year adjustable mortgages.

<----

Soundcloud.com/aquil84

(HIP HOP)
http://aquil.bandcamp.com

>are suckered into buying homes over 100k with 30 year
>adjustable mortgages.

I can't think of one good reason why variable rate would be good for someone receiving a loan. Especially now in real estate, with rates only going to go up from here.

because initially they are low but people lack financial literacy to realize they are just paying interest on the loan.

And don't get me started on subprime mortgages.

5 to 10 year mortgages should be the max


If you can't pay it off in 5 years don't buy it.

Hell you ain't bought it till it's paid in full.

I'm all for buying acres in North jablip Florida and developing it. I'm seeing land going for 3500 an acre West of Jacksonville.

<----

Soundcloud.com/aquil84

(HIP HOP)
http://aquil.bandcamp.com

"Get ready....for your blessing....."

spent a few months in DC area, and was in BK NYC for two years every week.

Im in ATL now.

I see the inflated housing rates aka gentrification first hand.

With that said there are cities with affordable housing not NYC, DC, MIA, LA, SAN FRAN.

Hell a ton of people are moving to more affordable areas see North Carolina

<----

Soundcloud.com/aquil84

(HIP HOP)
http://aquil.bandcamp.com

for most of the general population.
If that guideline were to be followed, then we'd end up with an imbalance of available rental units. It's just not realistic or helpful advice.

It's the bootstraps version or real estate.

>spent a few months in DC area, and was in BK NYC for two
>years every week.
>
>Im in ATL now.
>
>I see the inflated housing rates aka gentrification first
>hand.
>
>With that said there are cities with affordable housing not
>NYC, DC, MIA, LA, SAN FRAN.

But there needs to be jobs to go along with it. Yeah, I could move to Detroit (not downtown) and have super low mortgage...but the job market is very narrow there.

>Hell a ton of people are moving to more affordable areas see
>North Carolina

And the housing prices are creeping up accordingly. NC is far LESS affordable now than it was just 10years ago.


"Get ready....for your blessing....."

Not for most folks with typical homes.

If you're talking about paying off a patch of land you bought for 20k, maybe.

But if you're talking about the $200-500k house most people end up buying? Sheeeeit.

Now if you have two incomes and good credit, get the low interest bi-month fixed 15yr joint, that's a great deal. You'll save a shitload in interest.

But most people ain't paying something off in 5 or even ten years unless they're in that situation where they have a major city salary in a small town or cheaper part of the country.
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"To Each His Reach"

but.....

Fuck aliens.

If you get a low rate (which was the case a couple of years ago. Still pretty low now), you might as well take advantage of it.

Why are you going to rush to pay something off that has a 2-3% rate? Take that extra you'd be putting to pay off the mortgage quickly and invest in and get an average return quite a bit higher than that interest rate

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our money is also tied up in a house when it could be getting a better return in other investments and you also can have access to it much faster if an emergency arises.

I’ve thought about a 15 year mortgage tho.

best bet for my situation is to get a 30 year mortgage and make an extra payment or 2 every year while I pay down other debts and save for college for my kids.

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TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

But the premise is you not buy a home highrr than 100k preferably under that.

<----

Soundcloud.com/aquil84

(HIP HOP)
http://aquil.bandcamp.com

where you can purchase a home for $100K or less.

likey have to do some work to it. I'm looking at houses in the west end of ATL right now all under 100k

<----

Soundcloud.com/aquil84

(HIP HOP)
http://aquil.bandcamp.com

areas.

It makes no sense to pay half a million for a rowhome with no yard space when you can get double the space for half the price.

<----

Soundcloud.com/aquil84

(HIP HOP)
http://aquil.bandcamp.com

it wasn't much over 100k, but still.

It'll probably be paid off in 24 months.

You can do a lot if you plan ahead, invest properly, and spend modestly.

Peace,

Spirit (Alan)
http://wutangbook.com

>>are suckered into buying homes over 100k with 30 year
>>adjustable mortgages.
>
>I can't think of one good reason why variable rate would be
>good for someone receiving a loan. Especially now in real
>estate, with rates only going to go up from here.


Meaning, on average, homeowners will refi, sell or (rarely) payoff their homes in 7 years.

So if you're confident that you'll be in a better financial situation in the future and be able to refi, or that you'll be selling the house to move up or out of town, a 5 or 7 year ARM can make sense, even as rates increase.

I've had 5 year ARMs before but I ended up refi-ing out of them. Now I stick to 30 years.

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Gotta add in insurance(s) and property taxes, so the monthly would come up to $700-$1000/mo depending on local taxes.

Pretty affordable on $50k, but like you wrote above the types of people that would sign up for a variable rate loan are the types that don't bother researching or thinking things through.

with automobile loans which are nothing compared to mortgages but yea.

<----

Soundcloud.com/aquil84

(HIP HOP)
http://aquil.bandcamp.com

Why do people act like there is just one type of ARM? There are a million different type of ARM products. You just need to be clear on the terms and conditions of your ARM, and if it works for you then go for it.

I've been in my house almost 14 years and still in my ARM. Started out at 4.75% and got all the way down to 2.3%, it's just now starting to creep back up in the past 2-4 years. When the market crashed, all my friends with fixed rate mortgages were stuck making the same payments on houses that in some cases were worth less than half of what they paid for it. Meanwhile I sat back and watched my payments decrease by over $250 and my interest rate by more than 2%.

When the time comes that I feel like I need to refinance, I will. But there hasn't been a reason to yet. I'm gonna ride this ARM out until it no longer serves me well.

I don't believe in luck, I believe in Jesus...(c)Farnsworth Bentley

best decision we ever made

November 8th, 2005 The greatest night in the history of GD!

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We didnt overspend. We got in when the getting was good. But we also got in like right before things went crazy. Our house was a short sale. It took us 16 months from offer to getting our keys. Everything jumped 75k+ during that time. So if this would have fell through we would have just said fuck it and kept on renting. Instead of getting into something we couldnt afford just to be home owners. We had a budget and we stuck to it. We also knew about on going costs and budgeted for them. The first year was hell for repairs. Because our house say empty for 2 years. But we had the money to take care of all of those things. It drained us. But that was what the money was for. Now our mortgage is about the same as our first apartment and we have about 175k in equity after owning for about 5 years.

November 8th, 2005 The greatest night in the history of GD!

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Navem nu, cuando sol
Tutu nu, vondo nos nu
Vita em, no continous non
Nos nu ekta nos sepe ta, amen

When the sun shades the ship
We sweat and life is not safe
To swim or to touch not
When we unite we hedge amen

What it really sounds like here are these millenials are sorta buying blind and without a good grip on what home ownership entails.

My parents advised me throughout the whole process on what to expect, what it's gonna cost, what's a good deal, what's not, and what are some things you can sacrifice on to get the things that are really important to you in a home.

Because of that, I ended up in a pretty great situation. Most of these millenials sound like they could use that.
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"To Each His Reach"

but.....

Fuck aliens.

What makes you say this was such a good decision?

_______________________________________

For me it's a good decision, financially, socially, and mental health wise.

First. My property values have already gone up like 20-30K in the 4 years since I bought.

Second, it's a long term property for me. I plan on being there until they carry me out. If I ever have to move, I'll most likely rent it out.

Third, good location. Not far from the city, not in the boondock either, two miles from metro. Lots of parks and trails nearby.

Fourth, I was absolutely tired of apartment style living. Lack of parking, lugging bullshit from the parking lot, up stairs and an elevator just to get groceries. Sharing the rooftop space with a rack of other mofos just to bbq or be outside, noise and shitty neighbors. Apt management turning the ac/heat on or off at odd times during the year.

Now I have a nice end unit th with a two car garage in a quiet neighborhood with my own nice sized deck. Nice space to host people when I do. Nice size guest room for my out of town people, I can do what I want, when I want without having to worry if I'm gonna lose my security deposit. My mortgage doesn't go up like rent. And actually where I was renting before, the rent is basically the same or more as my mortgage in that area. So if I"m putting out the same money, why not own something that's mine and have it my way?
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"To Each His Reach"

but.....

Fuck aliens.

______________________________________________________________________________

"To Each His Reach"

but.....

Fuck aliens.

I do regret the condo we purchased prior to buying this home though.
We purchased at the height of the market with a hybrid load (part ARM & part Fixed).
It's on the market for sale now and we're under contract ....
Selling price is less than what we paid for it 10 years.



"Get ready....for your blessing....."

_______________________________________

current house it would have been a better move.
We thought we could hold it for a bit and eventually turn a profit, but the condo market has pretty much been flat around here for the past 10 years. We've finally decided to cut our losses.


"Get ready....for your blessing....."

when we purchased the condo.
I doubt those types of "deals" are available nowadays though.

"Get ready....for your blessing....."

These are just people who planned poorly or didn't do enough research before buying a house.

HURR I GUESS I SHOULDNT HAVE SPENT MY RETIREMENT SAVINGS ON MY DOWN PAYMENT

DURR WHAT DO YOU MEAN I HAVE TO MOW THE LAWN AND REPAIR THINGS

this is some basic shit.

-------------------------------------------------
http://www.soundcloud.com/sectachrome

>These are just people who planned poorly or didn't do enough
>research before buying a house.

And who the fuck is dipping into retirement savings in their late 20's?

How do you not do research in to the upkeep on a home? Did their parents not show them things growing up, or make them do chores?

______________________________________________________________________________

"To Each His Reach"

but.....

Fuck aliens.

They did all the calculations. Decided they can afford the monthly mortgage payment, property tax, etc. They even factor in some monthly average maintenance costs.

Then one month the furnace goes out ($5000). Next month the roof needs to be replace ($5000). Two months later, a plumbing problem ($1000).

_______________________________________

Since I bought my place almost 4 years ago:

New hvac system: 10k
rotting wood popout replaced: 3k
new driveway: 5k
new roof: 6K

But it's not just about being smart and reasonable and prepared, a lot of the people in the article just sound like they weren't ready for the effort and work that it takes.

That's one of the big things that I'm STILL getting used to. My place is so much bigger than my apartment, and I gotta remember to sweep this, and sweep that. I check on the bathroom in my basement from time to time and flush the toilet down there, cause I'm never down there. Sweeping down the stairs, rinsing off the deck, scrubbing down my grill. There's not enough time in the day it seems. And I seriously need to take a sandblaster to my garage. Oh, and I need to have my carpet cleaned.

But I still love it. It's my own personal beautiful struggle.
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"To Each His Reach"

but.....

Fuck aliens.

no inspection?

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

At the last minute we found a crib that checked off all the boxes, in the Boston neighborhood right next to the one we primarily wanted to live in, but which was way too overpriced. The neighborhood we ended up in checks off all the other boxes though. Diverse, safe .. we got a deck, a patio and backyard (the latter two are shared with the two units above ours), we're on the first floor, with a slew of restaurants and bars, coffee shops, etc. right up the street from us.

Best part is all those businesses got a makeover recently while not losing their local touch or their longtime ownership (some of the businesses sold but most stuck around). They mostly just kind of re-did the sidewalks and streets, updated their storefronts, and some of the places renovated their interior and/or updated w/new names ... so our property value climbed right away and has kept climbing since we closed on the condo in October 2015.

Similarly, a bunch of new condo buildings are being built on our street and the street perpendicular to ours which is also helping prop value.

Eventually we expect the bubble to burst but as of now we're sitting very, very pretty. And the rental market is hot too so if and when we are looking to move outside the city we can sell if the market is good, or just rent out til it approves if its already crashed.

So our timing was perfect even if we didn't necessarily plan it that way. I had researched the "up and coming" neighborhoods at the time and found this one but we didn't necessarily prioritize it ... just happened to find our place at the last minute. The guy upstairs just sold his place for a massive profit, and he bought for the same price we did just a few months before we did. So we've talked about selling but we just aren't ready to move yet.

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"Fuck aliens." © WarriorPoet415

ownership aint for everybody

but, its the surest way to grow equity

i'm sure more people would own if the barrier for entry werent so fucking insane

and, lets be honest, due to US not owning shit these days our foothold on american cities is eroding at a rapid pace



I honestly think the regret being talked about has to do with the fact that all of home ownership is geared to being beneficial for a very small group of people where as before the act helped more people.


renting forever is not the look.

its one thing to be accountable for the shit that happens in your neighborhood

but its a whole other thing where people are accountable because they own the shit

***********************************************************
https://soundcloud.com/swageyph/yph-die-with-me

I grew up in apartments until I bought a house.

I like the stability for my fam.
I realize that ownership is important to pass down.
its cool to turn up my music as loud as I want.
equity is up, so maybe we can get to the next, bigger home.


I don't like the schools in my area.
there's always something to that needs to be done.
handyman, I am not. I hate it.


so I wouldn't say I regret it, but I do wish I'd done it differently.

Y'all buy those labels, I was born supreme

doesn't it make more sense to be paying off a mortgage rather than making yet another rent payment?

The fallacy is that lots of people view renting as throwing money away, while owning is building wealth. That isn't a true characterization

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I remember there was an article in the local paper that weighed renting vs. owning in THIS area. Depending on your circumstances, renting was better for some people.

But honestly, if you're older and know you're settled in the area you're in for the next 5-15yrs minimum, owning is usually gonna end up winning as being better financially.
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"To Each His Reach"

but.....

Fuck aliens.

the thought of owning a loan (w/interest) for 30+ years ("the american dream")
kinda makes me nauseous. i think it's one of the reasons why there's so many crazy
people out here...broke/swimming in debt/having to do all these things to keep up
with obligations. only way i would do it is if i could pay off the mortgage in a short
amount of time (<5 years). to each his/her own.

>the thought of owning a loan for 30+ years ("the american
>dream") kinda makes
>me sick. only way i would do it is if i could pay off the
>mortgage in a short amout
>of time (<5 years). to each his/her own.

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plus i haven't decided if i want to own here.

Location is a little off in the sticks, but if we'd waited, it would have been even worse. Housing prices in the Bay Area never go down, and are just going to be shooting higher and higher as Oakland and the surrounding suburbs further become SF East. So I'm happy we've got something where we can build some equity. And I really like where we live too.

-----------------

www.albumism.com

Checkin' Our Style, Return To Zero:

https://www.mixcloud.com/returntozero/

My wife and I reflect on our home purchase all the time. We bought our house in East Nashville four years ago and watched it gain $200K in equity in no time. We wanted a new roof, new windows, new siding, so we pulled the trigger on the refinance.

The thing is - we only had the $$$ for the down payment because of a settlement stemming from a car crash that injured my wife. Without that, we would've had no feasible shot at purchasing a home in Nashville 5 years ago, let alone now.

I can see some millenials shitting themselves when they have to furnish a home vs. an apartment, then getting hit with those unfortunate repair issues that suddenly come out of their own pockets instead of the landlord. Fridge stops working, AC doesn't run cold when it's 95 degrees and humid, water heater breaks...the shit never ends.

Bowls
http://twitter.com/Bowls615

I was fortunate enough to pay off the mortgage way ahead of time, but it’s not something I’d ever want to do again if I had to carry a mortgage.

Just to get the experience of living downtown in an interesting area.

The gentrification train was just getting out of the station when I bought so alot of DC that would've been affordable was still very sketchy for this suburban kid.

I went from my parents house in the burbs to my own TH in the burbs. Never had the experience of being able to live and play in the same general area.

I was a shitty owner those first several years but it worked out in the long run.

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This must be for white millenials. If rentals and landlords were fair to black people, then home ownership might be a bad thing.

I bought my home because I could not find anyplace to rent in DC that didn't threaten to raise rents, charge fees or threaten to kick me out on a month's notice.

I have owned my home for 10 years. Stable and predictable. I've built community. So many people have lived with me because their rentals units were too expensive.

I can't wait to buy another home. Housing is a financial challenge in big cities like DC /San Fran/ NYC. Pushing all black people to the boring suburbs with no job opportunities. Unless that is your thing, I suggest buying in a big city.

Rise & Shine
Thrive & Grind
Heart & Mind

Been saying this here. All the complaints about gentrification, but many black folks that can buy choose to rent instead.

we sorta gentrify ourselves to a degree

'we' still glorify/covet the white picket fence and 2 car garage life in the burbs
'they' glorify/covet the walkable green city with 'everything' (starbucks n trader joes) in close proximity

there was a post here some months back sorta alluding to this...I think buddy made it

=======================================
Coolin...

Black people with the means seem like they buy something out in the suburbs, or would rather pay high rent in a trendy city/neighborhood.

Black people act like Philly is a terrible hood city they'd never move to.

Meanwhile white people moving down here in droves, buying houses, starting businesses and all sorts of other goofy shit having the time of their lives.

>

Chasing the white picket fence is one aspect of it, but it's also the impact of stuff like how the cops that wasnt keeping the neighborhood safe for the black residents, will now show up in 30seconds when a new transplant calls in a noise complaint. No "old neighborhood" parents was linking up and working the system to get a private school opened ( in the same building as the public school!)


So "upwardly mobile" negroes make their way out the hood, and the gentrifiers dive in with no regard for how the area used to be; their reality won't match that anyway

)))--####---###--(((

bunda
<-.-> ^_^ \^0^/
get busy living, or get busy dying.

but nope

now they gonna be stuck out in the burbs rubbing shoulders w/ their new old neighbors...their cousins from the hood who were relocated

=======================================
Coolin...

My son and I just finished up a townhouse for a young couple. They said they’re buying up property to rent out so they can retire soon. It’s also our long term goal. Fix and flip...

I've considered it, but don't think I'd make a good property manager, as I don't want to do that full time. Been looking into buying a commercial building on a strip somewhere in the city tho.

We don’t want the responsibility that comes with rental property. Only thing, nobody wants to buy now, especially in Charlotte.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

Buy as much of it as you can

Still some bargains in SE, but mostly just the condos.


Peace,

Spirit (Alan)
http://wutangbook.com

I bought 10 years ago. Wouldn’t been able to afford anything out here today.

"To avoid unexpected expenses, experts recommend getting a home inspection before finalizing the sale."


How did someone think they had to spell that out as advice?

And it's such a small amount of money compared to what you're about to be forking over. I don't know why in the world someone wouldn't get an inspection

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Unless these supposed millennials that never thought about getting an inspection first are just paying straight cash for these lemon properties, a pre-purchase inspection is pretty much a must for any even 2nd or 3rd tier mortgage underwriter, especially after 2009. That's just...what the hell is this article about?

I think this article could have dug
deeper to see why millennials feel the need to
buy homes they cant afford/keep up

I would say social pressure to live up to boomer's expectations
plays a significant part

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touched like midas these bitch ass niggas they study and bite us.

Like they hit 24 and said I'm supposed to buy a house by this time so I'm gonna do it. Not even considering their situation

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I lost out on 3 different condos cause the buyers who beat us out, while making either the same or a lesser monetary offer, had agreed to waive the inspection as a means to gain leverage on me/other potential buyers.

I, obviously, fucking outright refused to waive the inspection becauseeeeee fuck that. I'm not handy at all, don't know shit about shit when it comes to housing structures, and don't trust builders as far as I can throw them.

So yea anyway it's way more common than you (apparently) think, especially in hot markets. My real estate agent naturally advised against it but told me she was seeing it all over the place despite her best efforts to thwart it.

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"Fuck aliens." © WarriorPoet415

Listing agents calling out things that are excluded from inspection is the funniest thing to me. Basically saying "you aren't going to buy this house" when you say something like, for example, "that wall in the master bedroom is excluded from inspection" or "we're asking for an exclusion on the heater"...good to know, have fun with your deathtrap.

every reason to not own a home in on that list can be avoided by some basic ass planning. Its insane people are that dumb.

November 8th, 2005 The greatest night in the history of GD!

We’ve been in our home for 8 years and it’s appreciated 100K.

But we definitely didn’t prepare for repairs when we bought our home

When friends told me they wouldn’t buy a house unles it was all cash I laughed at them. That’s a dumb idea unless you got it like that.

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TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

The value of my 1st property -- a 1 bdrm condo that I rent out -- has doubled, if not tripled, since I bought it 14 years ago. I bought a 2nd one in the same building like 5 or so years back and ended up selling that for $200K more than I paid for it 2 years later.

Now, oddly, I'm renting and deciding if I want to buy again or not...

BUT... to the point others have made.. it's the best way to build wealth for black folk.

>I bought a 2nd one in the same building like 5 or so
>years back and ended up selling that for $200K more than I
>paid for it 2 years later.

That's the issue for buyers entering the market now. Rent is expensive and it can be difficult to save for a down payment.

Assuming the person is working hard, and saving money , and not buying Swap Meet Louis or fake Gucci and not tricking it away, think of how much harder it is to buy a house now that it's appreciated $200k in 2 years. They have to wait, or they have to spend much more money than was "reasonable" to plan on paying.

Incomes don't go up that much, so it can be a real bad time to get into a house now.

I bought a condo in 2002 that got up to being worth $350 by 2006 - and I stayed in it and in 2011 it was worth less than $135k, now its back up to $300k. I have no control over that. I could have dumped it when it reached being work "X" and then rented, the bought again alter, but it's all guess work.

I own my house, and I would make money selling it, but if I had to buy it TODAY I'd feel a little less good about it.

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Gone: My Discogs collection for The Roots:
http://www.discogs.com/user/tomhayes-roots/collection

I got a nice settlement in 2007.

Thank goodness I waited to buy something a few years later

Actually lucked up and bought in Charlotte. This market is still hot.

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TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

I understand the trepidation about entering the market now. Prices are insane and this crop of folks have already endured a market crash/downturn. So I totally get it.

WTF who doesn't realize you have mow the lawn and pay for upkeep on a house?

Peace,

Spirit (Alan)
http://wutangbook.com

Was apt hunting yesterday....

Realized the kinda spot I want is definitely very "millennial" ... pool, gym, common area, conference rooms, yoga 3x a week, dance studio, roof top grills

all that shit... and 1 block away from all the necessary night life and bars etc...

You go from that

to a lawn and a driveway (and possible commute)... I think people are often just not real as fuck with what they want at the time outside of saving money.

Double 0
DJ/Producer/Artist
Producer in Kidz In The Hall
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twitter: @godouble0
IG: @godouble0
www.thinklikearapper.com

Anyone who actually uses the "common areas" in those apartment complexes is probably a serial killer.

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http://www.soundcloud.com/sectachrome

I work from home son... why pay for wework or deskspace if its built in to the spot..

i was just saying I see the folks who live in these spots... if they moved from there to a house they prolly shell shocked.

Double 0
DJ/Producer/Artist
Producer in Kidz In The Hall
-------------------------------------------
twitter: @godouble0
IG: @godouble0
www.thinklikearapper.com

I see young dads move in, all excited about maintaining their property... then they last about halfway through their first mow, and it's a call to Brad's lawn service.

Then they get a shed to keep the mower they never use.

Same deal with shoveling snow, doing leaves, etc. Folks coming from apartments or condos have no idea of the amount of work a home can be.

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so I'm in a band now:
album ---> http://greenwoodburns.bandcamp.com/releases
Soundcloud ---> http://soundcloud.com/greenwood-burns

my own stuff -->http://soundcloud.com/lonesomedstringband

avy by buckshot_defunct

Even when the market crashed and we were a bit upside down for a while (property values were way over inflated in PG County for a while, so we lost a grip for a few years), I didn't regret owning a home.

For my wife and me, its a sense of stability for us and for our kids. Both our parents are in the same homes we grew up in. It's like an anchor of sorts to know there is an actual place that can be called 'home'. For our kids to know there is a place for them that, God willing, will be there means a lot to us. May be an old fashioned or outmodded concept, but we hold to it.

Being a homeowner either means hiring people to do work around your house or learn how to be John Q. Handiman and get the job done. Again, I have my parents to thank for that. I clearly remember as a child hearing my parents in the backyard at night cutting wood paneling to hang in the rooms (it was like '81). So I'm no stranger to tools, hardware stores or elbow grease. With the innanets and Youtube, figuring out how to fix stuff is even easier (you have no idea how happy I was to be able to fix my $1500 fridge with $15 of parts on a Sunday. That was an ordeal). Now, for the big ticket items, I'd go for a home warranty or sock some money away for when something breaks. I was partially shook when we thought our hot water heater was leaking; even more shook when it was the HVAC (coils froze and just needed freon, fortunately)

Plus, moving sucks balls.

<-- Dave Thomas knows what's up...
__________________________

Jay: Look here homie, any nigga can get a hit record. This here is about respect.
Game: Like Gladys Knight.
Jay: Aretha Franklin.
Game: Word, I like her too.
Jay: Nigga...

Here's the thing. I got it in 2010, 225K in L.A. City. Literally everything in my area goes for like 480-550K now, just 8 years later. On top of that, my mortgage is legit the same as what most folks here pay for a cool 1 bedroom...most folks pay more for a 2/2, and I get a 3/2 here...AND I'm close to everything I need to be close to. I haven't had a whole lot of unexpected expenses since the first year.

The only thing that sucks is I legit can't afford to move anywhere else better in the case that I rent or sell this house to buy something else...so that's where I'm stuck in a way, but I'm still in a great position overall.

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Twitter and Instagram - @DJ_RTistic

It's a community, know my neighbors and in the city vs renting something in the burbs with a long ass commute with neighbors that barely acknowledged us.

First couple of months were rough with some unexpected shit needing to get fixed (HVAC)

Learned a few things as far as repairing things myself and what to look for if I have to call someone to do something I can't.

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TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

It had to be like the 2nd week we were in the house and that shit just stopped.

HVAC is the devil

Kids complain it's cold in the house now, better than 90/100 when it broke.

If the previous owner liked it warmer in the summer or colder in the winter than you do, you're going to put more strain on the HVAC when you move in than they did. If the previous owner kept it maintained, that shouldn't be an issue... but if they, for example, liked it at 80 in the summer, they may not have noticed the unit starting to slip and didn't think their was anything to fix.

You come in, trying to maintain 70, and the AC says "Aye, I'm not used to working this hard, mayne" and calls it quits in the middle of a heat wave.

I had this happen to me when I moved out of a house and rented it out. New tenant kept the house 10 degrees cooler than I did. The unit kept up for a couple weeks and then gave up the ghost. In hindsight, I'd been babying the unit for a couple years bc I kept the house kind of warm to minimize the S/O's complaints.

<-><-><-><-><-><-><-><-><->
<-><-><-><-><-><-><-><-><->

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TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*