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June 25, 2008
THAT is the question
So, in getting real about where we are going to live in BFE North Dakota, I have been weighing options. Being that the waiting list for base housing is 6-12 months, we are going to have to find someplace to live, even if it is temporary... and hey, I just happened to notice the economy is in the shitter! Not so good news for most- but with a stable job and income... it's a good time to consider buying a house. Prices are down, people are desperate to sell, etc.
We could rent. Find a place that is not the size of a refrigerator box with a washer and dryer, and who allow a cat... and looks like rent on such a place will run about $800+ a month. Now- even given a pretty shitty interest rate to account for us not owing anyone money... A pretty nice set up- like 2200 sq ft and a yard, etc will run $700 PITI... so... You can see why I am sticking on the idea of buying. We will be there for at least 5 years. Usually more than enough time for a recession to turn around, and fuck all, owning something there might make me like it a little. (Yes, I realize this is before spending my first winter in the middle of an iceberg landscape.)
But do I want to invest a substantial part of our life and heart into something? I can rip out the bathroom if I hate it... re do the floors... paint my fucking walls any god damned color I like!! Now I have noticed North Dakotan's like of painting walls red and putting up really ugly fucking wallpaper full of flowers and stripes... but I can rip that shit off and do my own thing if I own the place. On the other hand- if the toilet falls apart, or the outside paint looks like shit, I have to pay for it.
See, even thinking about it has my asshole all puckered up tight. This may be worse than wedding jitters... No.. yes...no... yes... Fuck it. I need a beer.
Posted by TheFreud at June 25, 2008 7:28 PM
Comments
Buy is my opinion. Sell it when you're ready to move back to Las Vegas or retire. You've never had property of your own, it would be an awesome experience for you. Just make sure they don't have some B/S Home Owners Association telling you that you can't park that there or paint that color. I hate HMOA's. Besides it's better then paying someone else's mortgage payment, and great tax benefits.
Posted by: Dad at June 26, 2008 1:25 AM
Hi! I'm a long retired GI. If you have not bought a home yet, I'd tell you not to at this point.
Sounds crazy? Hahaha...let me qualify myself. We buy foreclosures for a living, rehab them, turn them into rentals, and own a Real Estate Brokerage. :-)
The US is in a down market for real estate and home prices are still falling in most places. Buying now could wipe you out financially. My suggestion would be to rent for a few years, and let the landlord take the financial risks.
If you want more info, you can email me. :-)
Posted by: Yoda at July 15, 2008 5:04 AM
