New(or new to you) Home Since Jan-05

okiepolkie

I've noticed over the past few months that a lot of people, including me, have moved into brand new homes. I know it has been much easier to afford homes with interest rates as low as they are. Some are still as low as 5.0% for first time home buyers.

We picked out our first house on July 5 and we will close on the 18th.

Up until last week, we were planning on having a house built(one of the reasons I have not been visiting the forum as much).
We spent a little bit of money on some well designed plans, an appraisal, and a builder consultation. After a nice visit with the bank about the construction loan, we learned that the developer had sold our lot out from under us to another builder. It was on hold unless someone else was interested, then we would have a couple of days to put down some earnest money. Well, we never got contacted, so we didn't even had the opportunity to put the $$ down. Anyway, we could have bought the lot back from the new builder, but it would have cost us another $3000(he paid $1000 more than we had been told + he wanted $2000 commission).

After all that happened, we just decided to buy a house that is already finished. Our finances were already in order for building, so we just picked out a house three doors down from where we were going to build. It is a nice little subdivision that should hold its value to some degree. Actually, we are hoping it increasing pretty rapidly. We are getting a Hino(sp?) small truck plant within a year, so it will bring in a few more people needing homes.

The only complaint I have is there is no place to set up a nice HT or 2 channel area. The house we were going to build had an expandable place upstairs that was at least 15 x 20 space(ideal for a good HT). This one has a corner fireplace that takes up any good setup walls. I might have to resort to putting the TV 4ft off the ground to have any usable space in the living room(I'll post pics later when I look for suggestions on placement).

Well, I'm done with my ranting, raving, and words of delight.

So how do you like your "new" home?

jdhdiggs

Other than the yard (or mud bog as it is more commonly known) we love it. Poor **** down the hill from us end up with our yard in their basement every heavy rain. The cheap **** builder thought that seeding, and then seeding with hay would work. Now he's paying damages on that house a will be (hopefully) putting down sod.

avelanchefan

Well I love my house. I have been in it a year. But as you can see it is not a very functional HT house. The HT actually sounds pretty good, but it is still a disapointment that it's off center. But what choice do I have?

We are moving in the next year, so I will have another go at getting the better HT/2 channel house.

NCrewson

Been there done that. Our previous house was a showhome we bought 'cause we had a great offer on existing condo but only had 3 days to decide on the offer and they wanted a quick possesion. I think that getting into a new sub-division early in the development when everything is still mud is a good investment. A lot of people can't see past the mud and dirt to what it will look like when it is finished and won't buy early. After more houses are put up and the things like trees, sidewalks and curbs are put in, the same people now want to move there and values go up. I know we lived in our house for about 15 months and it went up in value about 10% before we sold and moved. We didn't buy new again because all the new homes in our new town are on those little half width lots and we wanted some yard for the kids, but I would do it again if the circumstances were right.

jdhdiggs

So far it's been nice. We had been the least expensive non-rancher for quite a while in our neighborhood and our house value had gone up as much as $50K, but now some cheap-a$$e$ are moving in and driving the prices down again.

My neighbors are PO'd about some of the ones going in Nothing quite like putting a $1/2 X house between two $X value houses to drive down their price.

landry_p2000

What's up Zach? Congrats on the house. Where are you guys building at? Hopefully on my side of the bridge now.:D I got a PM from ND13 and he will be in Memphis next month to hang out and shop for gear. We should hook up.
As far as the new home goes; words can't explain how much better this is than an apartment. More room, privacy, security, and freedom. My house is 10 years old, and had one family before us. It is still in great shape. For the first time I got my own room to do what I want to with it. Well, if you put in a little work, your upstairs room would be perfect for an HT room.

Landry

avelanchefan

I've been lucky, I have gained over 100 grand in equity in one year.

I know this year won't be like last year, but I am hoping for another 20-30 thousand dollar gain.

landry_p2000

Originally posted by avelanchefan
I've been lucky, I have gained over 100 grand in equity in one year.

I know this year won't be like last year, but I am hoping for another 20-30 thousand dollar gain.

Wow! That is a lot of money. I moved in my home in October 2004 and gained about $25,000 in equity since.