Been thinking about maybe buying a house... dont feel like pissing my money away at rent for much longer ... let me know if theres anyone (with money) who would seriously consider buying my car.. .

 

PM me with what you want. I have a cousin who wants one but price is an issue with him...... he may end up buying a civic I'm trying to convince him otherwise.

 

Took me at least 5 longer than you to make this great step. Once you purchased your own place you'll drive whatever you want in the near future.

 

how much you want for it? like 9 or 10k?

 

:blah: I would have put a "get the **** out" smilie but there wasn't one. hehe

 

Haha no kidding, anywho me and Payam were thinking of saving up to buy our own places, right now it is the only thing I want in this world is to own my own house, I was too thinking of selling my crazy beast and save up for a house, I'm paying off my student loans now and noticed that I throw every pay check at my loans and don't mind doing it lately, so if I had to pay for a house I wouldn't mind throwing my pay cheques at payments at all, I just can't see parting with a car I babied all the time except dyno time and cleaned behind every little area in it when the whole drive train was out to just part away.

 

Thanks for coming out AMIT ..

Sandeep .. I love the car so i'm not willing to let it go for dirt cheap .. so if ur buddy isn't even looking for a camaro it would be hard to get what i want from the car from him ... I'm looking fot 17,000 without the blower and other parts i got .. 21,000 with the blower, intercooler, cam parts, and a whole lot of other goodies

no i won't be parting out the parts yet

 

Yeah I know what you meen Matt, but that sucks if you sell your car , I was looking forward to you comming out this year. . . . and having my ears blead some more. Yor TA is badass though, Im sure you will get what you want for it

 

Wow big decision guys!

Remember that deciding to buy a house will likely be the biggest financial decision you ever make...

a modest $300 000 detached house will cost you about $2000/month in mortgage, utilities, and property taxes for the next 25 years assuming the current 6% 5 year rates, and as an owner you will need money available for repairs/renos...

One way to help afford a house would be to live in it, and also rent out a suite or room(s) to help cover the mortgage. That, or rent the whole thing out and try to get 60-70% of the mortgage payments covered that way.

Be careful about what you think you can afford now with the low rates, compared to what would happen in 5 years if rates go up as you refinance. Mortgage payments will get a whole lot worse if rates go up. I see alot of people buying as much as they can afford now with very little money down. these people will be in big trouble if rates go up later and their properties stop appreciating in value. Personal bankruptcies are already at their highest levels EVER in history thanks to easy credit and low rates.

Sorry for being a Devil's advocate, I am painting a worst case picture of what could happen in the future.

 

just move to abby. close to the track and houses are fairly still cheap, which leaves you coin to build cars or keep yours. Ya dont need to spend $300g on your first house. Mine was only 170, it shot up in value but still cheaper than anthing further west. Or buy a x grow op house and mod it

 

Ohh for sure, I don't even mind if its in Abby, I just want my own house, I would prolly let someone move in as well to cover some of the costs for sure, someone like Craig would just have to live there

 

I'm not living in the boonies ..

 

well that was a slap in the face

 

For $300,000 you are living FAR east of the Port Mann...
Figure with 10% down, buying a $150,000 condo, your housing expenses will be atleast $1000 a month.

I'm going to wait to buy a place. The realistate boom is almost over...better to buy low and sell hi, which is the oposite of what it is like now.

 

[QUOTE=Draco]
a modest $300 000 detached house will cost you about $2000/month in mortgage, utilities, and property taxes for the next 25 years assuming the current 6% 5 year rates,
QUOTE] The best mortgage rate offered by a bank is
prime -.4% but they might negotiate as low as .75% below prime from a mortgage broker. Prime is 4.25% right now, taking this rate at that $300,000.00 home saves you over $500.00 per month on your numbers Draco. I bought my Poco home in 93 for $206,000.00 but now it's worth close to $350,000.00. Rates look good for the forseeable future so I say buy the best place you can afford. Being too cautious and not jumping in the real estate market means you will miss out.