*** Old thread bump***

I'm 30 years old and I am buying my first home.  I'm so excited.  I had to share it with all my GS friends.

I just got pre-approved for 103% of the nice little two bedroom 1 bath bungalo with a 1 car detached (for the Baby G).  

Anyway, I figure the money I save on income taxes every year, I can afford that SV 650!

Congradulations. I'm waiting until I turn 30 to buy my first home too.

Congrats!!  

My wife and I had our apartment burned down by our upstairs neighbors (only after being married 2 months).  We bought a house 6 months later... It's so nice having our own place...

My payments are going to be pretty cheap.  A few hundred more than my rent has been.  But all that money goes back into my pocket (sort of).  

What an amazing feeling.  

Should have done this years ago.

congrats  

Congrats dude, I bought my first 2 years ago at 29...

Sounds like you're very smart in buying a modest sized place, I think too many buy over their heads (money wise).  I also bought a 2 bedroom 1 bath with large carport and deck.  I just couldn't stand the thought of a 30 year mortgage... 20 I can stand.

Watch out for PMI if your down payment doesn't reach a certian point.

You'll have to sign your name FIVE THOUSAND times at the closing, no joke...  

Good luck

Congrats! Building equity is a good thing! The first place I bought was a condo with an attached garage...didn't care much for attached living, but it was a steal! I sold it a few years later and bought a little house with a nice detached garage. Good luck!

I bought my first house two years ago at 23, I love it, 3 bedrooms, 2 bathrooms.  I rented for a year out of college and thought to myself this is crazy.  My mortgage is only $75 more a month than the rental.  It is cheaper than most of the apartments in the area.  I do wish I had a garage though.  

The key with this deal is finding the right neighborhood.  There are places here where you'll find multi million dollar homes within 10 blocks some really rough neighborhoods with like $20,000 homes.

The key is getting as close to the nice homes as you can in your price range and as far from the bad neighborhood without spending too much.  It is tough, but it has been fun.  Still looking.

My sister just bought a house...  She found it and bought it unbelievably fast...  She moved into a new (cheaper) apartment about a month ago...  Now she's moving into her new house on the first.

So...  Keep looking, it can happen faster than you think.

Good luck!  

Quote from: Jake DThe key with this deal is finding the right neighborhood.  There are places here where you'll find multi million dollar homes within 10 blocks some really rough neighborhoods with like $20,000 homes.

The key is getting as close to the nice homes as you can in your price range and as far from the bad neighborhood without spending too much.  It is tough, but it has been fun.  Still looking.

Most metro areas are like that. The first place I bought was a condo on the border of the ghetto. I took a chance because the city has a budget and plan to start cleaning up the bad blocks - and because it was a waterfront condo. Property values in the area had for the most part bottomed out, so I figured I'd likely break even at worst. Lived their 4 years, put A LOT of sweat and about $10K into it and walked away from it with a fat check.

If you're single or married with no children and don't have to worry about schools and the kids your children are rolling with, your first house can be more about equity than anything else. It will set you up financially for the time when you're ready for the home your family will grow up in.

Hey Jake congratulations on the house.  Are you planning to stay in the midtown area or are you fleeing to the 'burbs?  Sorry I took so long to reply, I have been Out of Office the last few days, no time to check the forum :lol: !!

Actually, I be staying in the City (good boy, good boy).  From the Plaza to WALDO!!!

I'm looking at a house tonight a block south of 75th, between Warnall and Ward Parkway.

The wonderful West Waldo area, where yuppie first timers go to buy.

Quote from: Stephen072774Watch out for PMI if your down payment doesn't reach a certian point.

congratulations!
usually if the down is less than 20% you'd need PMI but that's a waste of time. get a good mortgage broker and he'll be able to structure the loan so there's a 80% first and a 10/20/23% second so there's no PMI.

I don't have a down, so it is 100% financing.  PMI shouldn't be that much, and I think he already figured it into my closing costs.  Which are ridiculously high ($3,500).  Oh well.  There is that used SV right there!!

good luck with your house deal.  

My girl and I are closing next month on our first place.  Man, some of the first-time buyer programs out there ROCK.  We are getting 10k interest-free, deferred loan from the county, and we paid a point to get a fixed 4.75%rate, and that was AFTER the last hike... crazy.

Bumping an OLD thread.

I didn't buy the little bungalow.

I got a LOFT!!!  Downtown KC (Atriums at Soho, for the locals, er, Destro).

You can see a virtual tour at www.kcloftcentral.com and go to "Atriums" and click on Virtual Tours.  

I'm pretty stoked and close on July 15th.  

Nice view of downtown.

Great looking lofts!! I have always thought it would be awesome to live in that area, especially with all the promised improvements and revitalization.  You are close to just about everything, and you have plenty of room to ride with all the empty streets after hours.  Congratulations  

They broke ground on the Sprint Center today.

We'll see.  Cuts about 15 minutes off my commute (was Plaza to Independence, now downtown to Independence).  Sweet.

Plus I have a pool on site, a fitness center, etc.  And lots of pretty young doctors bought there too.  "Paging Dr. Hot Momma.  Dr. Hot Momma please."  

I'm getting new wood floors and stainless appliances put in right now.