I bought my first home tonight!

cr2sh

macrumors 68030
Original poster
May 28, 2002
2,554
1
downtown
Well... I did. Although closing is still a ways away, I accepted their counter offer on a 3 bedroom, 2500 sqr ft, old school cape cod built in 1900.

Beautiful wood work throughout... built in china cabinet, 3 fire-places (non-functional), deacons benches, bookshelves, wood floors in every room... all original. It does need some work, paint, roof, some plumming, but overall the inside of the house is in great condition. Inspections came back fine... so there was no other choice.

I'm so excited. I had to share. The best part was the price, houses in Dayton are reasonable but the asking price of $65,000 was just unheard of. The seller was in a bad position... and with my down payment that I've saved... my first home loan is going to be for $45,000.

I'll get some photos posted soon.
 

Mav451

macrumors 68000
Jul 1, 2003
1,657
0
Maryland
Dang dude, congrats!. I can't even imagine when I'll be financially set to OWN a house yet. Such a big leap in life...I await the time that I'll reach that stage.
 

tech4all

macrumors 68040
Jun 13, 2004
3,399
489
NorCal
Congratulations on the house, cr2sh! That is definitely good news.

Can't wait for the pictures. :D
 

cr2sh

macrumors 68030
Original poster
May 28, 2002
2,554
1
downtown
The front outside and the formal dining room (with china cabinet).

I'll have to download my camera to get better ones... but I'll get to that later.

:)
 

Attachments

zelmo

macrumors 603
Jul 3, 2004
5,490
1
Mac since 7.5
Wow, that's really great. There's no feeling quite like spending that first night in your very own home. Looks like a great place to hang your hat.
My guess is that aa house like that would go for around $90,000 in the city here, and quite a bit more in the county where we live, maybe as much as $200,000 depending on the land.
 

Cooknn

macrumors 68020
Aug 23, 2003
2,111
0
Fort Myers, FL
Great Investment

cr2sh said:
I'm so excited. I had to share. The best part was the price, houses in Dayton are reasonable but the asking price of $65,000 was just unheard of.
Sweet. Good job. Real estate is doing better than the stock market - and it's not doing bad. I bought a condo here in Fort Myers 3 years ago for $63,000. One just sold (same unit number as mine) last month for $150,000 :eek: Heh, until I'm done paying child support (that will be a while) I couldn't even afford to live here by todays prices!

Enjoy your new place :D
 

buryyourbrideau

macrumors 65816
Mar 1, 2005
1,212
0
Chicago
cr2sh said:
The front outside and the formal dining room (with china cabinet).

I'll have to download my camera to get better ones... but I'll get to that later.

:)
haha um not to sound dumb but that is a "cute" looking house

im jealous :rolleyes:
 

3rdpath

macrumors 68000
congrats! there's nothing quite like buying your first home...and the quesy feeling you get when you start signing all the loan docs. :D

i'm a big fan of old homes, my wife and i looked for almost a year to find one that was in decent condition and hadn't been reMUDDled... those builtins look nice.

and for only 65k! i envy your mortgage payment. btw, for a loan that size i'd do a 15 year note...should be around $375/month.
 

noel4r

macrumors 6502a
Jul 17, 2002
661
0
Los Angeles
$65K???? for a 2500 square foot house? I live in Los Angeles and I bought my townhouse last year for 5 times that much and its only 1900 square feet. Imagine how many Apple computers I could have bought if houses around here cost that little...
 

jsw

Moderator emeritus
Mar 16, 2004
22,819
41
Andover, MA
noel4r said:
$65K???? for a 2500 square foot house? I live in Los Angeles and I bought my townhouse last year for 5 times that much and its only 1900 square feet. Imagine how many Apple computers I could have bought if houses around here cost that little...
No kidding. It would likely be 8-10 times that much here. My 1700 square foot cape, in need of much work, cost seven times as much two years ago.

Edit: can't believe I forgot this: Congrats! It's a wonderful feeling - and don't worry if it seems everything is about to fall apart 10 minutes before closing. It always seems that way, and it rarely turns out anything but well.
 

bousozoku

Moderator emeritus
Jun 25, 2002
13,951
3
Gone but not forgotten.
Congratulations!

There was a time when I was looking at houses in Dayton but felt that the prices had risen terribly. As long as you're satisfied, that's all that matters. Good luck with it.
 

PlaceofDis

macrumors Core
Jan 6, 2004
19,232
4
Congrats to you Cr2sh!! Hope the closing goes well and speedily, and that it works out for many many years!
 

Chip NoVaMac

macrumors G3
Dec 25, 2003
8,889
25
Northern Virginia
Congrats!

You will be the envy of all the rest of us with high cost of houses in our areas. Have to sell mine, long story that I have mentioned before in threads. My TH is now considered low-end on the scale and we are expecting $325k+, up about $25K from just two months ago. Some of us would have to fight the drug dealers to get the same in the DC area. :)

So just how is the job market in Dayton? :D

Again congrats. I'll never forget the thrill of buying this place. And it sounds as if you did very well in the deal.

Edit: Forgot to say that it is a 1400 sf "starter home" 25 miles from DC built in the late 70's.
 

Mr. Anderson

Moderator emeritus
Nov 1, 2001
22,407
0
VA
cr2sh said:
I'm so excited. I had to share. The best part was the price, houses in Dayton are reasonable but the asking price of $65,000 was just unheard of. The seller was in a bad position... and with my down payment that I've saved... my first home loan is going to be for $45,000.
the asking price of $65,000 was unheard of? ghack! OMG, that's just not right. Back in DC you really couldn't buy anything for that price.....the land any building was on would be worth far more than that.

But congrats and welcome to the world of home ownership :D

D
 

cr2sh

macrumors 68030
Original poster
May 28, 2002
2,554
1
downtown
Mr. Anderson said:
the asking price of $65,000 was unheard of? ghack! OMG, that's just not right. Back in DC you really couldn't buy anything for that price.....the land any building was on would be worth far more than that.

But congrats and welcome to the world of home ownership :D

D
No no no... unheard of cheap. In this area houses go mid-90's, she just happened to really need to get rid of it.

I'm walking around with this surreal feeling.. seems almost too good to be true.

:)
 

Chip NoVaMac

macrumors G3
Dec 25, 2003
8,889
25
Northern Virginia
cr2sh said:
No no no... unheard of cheap. In this area houses go mid-90's, she just happened to really need to get rid of it.

I'm walking around with this surreal feeling.. seems almost too good to be true.

:)
Most of us would even settle at twice you paid in our locations. :)

Hopefully you had a home inspection as part of the contract.
 

killuminati

macrumors 68020
Dec 6, 2004
2,405
0
cr2sh said:
I'm so excited. I had to share. The best part was the price, houses in Dayton are reasonable but the asking price of $65,000 was just unheard of.
WTF?!?!

65 gees? Thats ridiculous. We recently bought a house in Vancouver that is approximately the same size as yours and it was upwards of 800. If I moved down to where you are..wow...I can only imagine the kind of house I could live in :rolleyes:
 

Dr. Dastardly

macrumors 65816
Jun 26, 2004
1,317
0
I live in a giant bucket!
killuminati said:
WTF?!?!

65 gees? Thats ridiculous. We recently bought a house in Vancouver that is approximately the same size as yours and it was upwards of 800. If I moved down to where you are..wow...I can only imagine the kind of house I could live in :rolleyes:
FOR REAL! A small condo in the seattle area is almost 250,000-300,000 for 500-800sf. Was there some kind of nuclear fallout that happened there or something? :eek:

Edit: Oh for gods sake, you monthly payments will be around $270 if its 6% for 30 years. Thats just disgusting! I stand by my fallout theory.
 

makisushi

macrumors 6502
Jul 15, 2004
301
0
Northern VA
cr2sh said:
Well... I did. Although closing is still a ways away, I accepted their counter offer on a 3 bedroom, 2500 sqr ft, old school cape cod built in 1900.

Beautiful wood work throughout... built in china cabinet, 3 fire-places (non-functional), deacons benches, bookshelves, wood floors in every room... all original. It does need some work, paint, roof, some plumming, but overall the inside of the house is in great condition. Inspections came back fine... so there was no other choice.

I'm so excited. I had to share. The best part was the price, houses in Dayton are reasonable but the asking price of $65,000 was just unheard of. The seller was in a bad position... and with my down payment that I've saved... my first home loan is going to be for $45,000.

I'll get some photos posted soon.
SWEET!!!
That rocks dude. Welcome to home ownership and weekly trips to Home Depot!

It is great to still see some areas that don't have insane pricing hikes. Chip knows what I am talking about.
 

Dont Hurt Me

macrumors 603
Dec 21, 2002
6,056
6
Yahooville S.C.
cr2sh said:
Well... I did. Although closing is still a ways away, I accepted their counter offer on a 3 bedroom, 2500 sqr ft, old school cape cod built in 1900.

Beautiful wood work throughout... built in china cabinet, 3 fire-places (non-functional), deacons benches, bookshelves, wood floors in every room... all original. It does need some work, paint, roof, some plumming, but overall the inside of the house is in great condition. Inspections came back fine... so there was no other choice.

I'm so excited. I had to share. The best part was the price, houses in Dayton are reasonable but the asking price of $65,000 was just unheard of. The seller was in a bad position... and with my down payment that I've saved... my first home loan is going to be for $45,000.

I'll get some photos posted soon.
Cool and Congrats, breaking the rent cycle is a good thing.
 

yellow

Moderator emeritus
Oct 21, 2003
15,925
1
Portland, OR
Congrats! My wife and I are looking for our first home.

Prices for houses built in the 1970s at ~1500sqft range from $130,000 to $160,000 here. So you got a killer deal!

With that kind of saving, you could do some serious upgrading.