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Discussion Starter · #1 ·
So as of the first of August I am officially a home owner. I would have posted sooner but I have been very busy fixing things and generally getting squared away. Plus I had some medical trouble after my sinus surgery. I had a reaction to the steroid I was prescribed and my liver was close to failure. It was crazy, I was literally shaking like Michael J. Fox the reaction was so bad. But, I haven't had a drink in two weeks because of this stuff and my test numbers are getting back to normal. I think I might quite for good. You'd be surprised how amazingly good you feel after two weeks off of the sauce.

Anyway.

I paid $36,000 for an 1100 square foot home (equal sized basement, woohoo!!). My mom was kind enough to "give" me the money to put 20% down so I was able to forgo PMI insurance and I opted out of the escrow for a small hit on my interest rate. I got locked into 5.125% for 15 years. So my payment is $230 a month ($20 less than my rent was) and I have a friend who I'm chargin $100 for a room. I didn't get moved in until the third week of august as I was doing work on the house. I started by ripping out a bunch of water damaged paneling and furred out walls in the basement so I'll be able to get to the foundation to re-morter / tuckpoint. Then two weekends ago my friend and I spent 21 hours (42 man hours in total) completely redoing the plumbing. We ripped out the nasty galvanized steel pipes that doglegged and zig zagged all over the basement for no reason and installed new copper water lines and a tankless electric water heater. Not to toot my own horn, but the plumbing in the place qualifies as a work of art now. Then I upgraded my main breaker panel. I've got a remodel of a bathroom, and a partial rewire job as some of the house is still on old knob & tube wiring and a new roof in the works for next summer, but I think I've got most of my big projects out of the way til next spring.

I can't tell you folks how awesome it is to have ones own space, even if I do have a roommate with dogs. However two rottweilers act as a pretty sweet alarm and burglary deterrent.

Now I just need to get myself a don't treat on me flag for the front porch. LOL

The House


Piles of crap I removed





New water heater and main breaker and beautiful copper water lines


 

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Discussion Starter · #3 ·
Thats all stuff that I tore off of the walls. The place stank something terrible from all the musty particle board and paneling.
 

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Space time continuum! TIME WARP!

WAIT WHAT! 36,000 for the house? Or is that just how much you paid so far? 230 a month. DAMN! I pay almost double that a month for this little apartment. >_< Where you live? I need to get around there.
 

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Congrats. Pretty nice looking home.

You are now a citizen of this great nation. Or at least that is how it will seem.

After my wife and I bought our first home, we were looked at and treated differently by the cops, city board members, and banks/lenders.

It shouldn't be that way but it is.

"It is good to be King" (of one's own castle)

ENJOY!! :)
 

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how are you liking the water heater? when i have to replace mine i am thinking about going that route
 

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Nice place and a great deal. Now is the time to buy if you can. I like the potentail of the basement me sees a very nice weapons/reload area in your future..lol
 

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Looks great man! Congrats on the hell of a deal too. $36,000 for a house like that is cheap.
 

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Discussion Starter · #14 ·
I'm in St. Louis, but the housing market is pretty good for buyers everywhere right now. I had to get out of a renting, I equate it to shoving money down the toilet. My home inspector saved me six grand. He spent six hours documenting everything that was wrong with the house. He was on his hands and knees and crawling around on his back looking at stuff. If anyone is going to be buying a house anytime soon I HIGHLY suggest this company.

http://www.brickkicker.com/

My original bid was 42,000 with a stipulation that i could decrease my offer or back out entirely after the home inspection. After the inspection I came back with 35, they countered 38 and put my foot down at 36.

A friend of mine is a financial planner and he helped walk me through some of the loan paperwork. It was really funny when he came with me to the meeting with my lender and to the closing. He kept putting them into corners on rates and terms. Halfway through they would just stop and exasperatedly say "And you are who exactly?" to him. He just answered that he was my financial planner. ^-^ When it was all said and done he got me that great rate and I got my closing costs to $2300 with the first year of home owners insurance included.

If your buying don't go to closing until you have seen the HUD statement at least two days in advance. The law states you are supposed to get it before closing. I got mine about an hour and a half before the scheduled closing date and it was totally fucked!! It showed closing costs at about $4500. I started going over it and saw a bunch of stuff in the wrong columns and stuff that wasn't part of the agreement. I made them correct the errors (took em three times to get it right cause they tried shifting numbers into other stuff and adding other charges) But I just kept bitching until it looked right to me.

Not to shabby if I do say so myself.

I'm looking forward to getting my basement set up as a shop with all my reloading gear and my electronics equipment (oscope etc.), might do some guitar/bass amp repair in my spare time.

"It is good to be King" (of one's own castle)

ENJOY!! :)
It is good to be king.
 

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Nice dude..I've just joined the homeowner club as well..although not near as nice looking (yet) but for the money I think I did ok..the inside is an 98 outta 100..here's the listing pic. (it went on the market for 41k to start with, I waited and waited..when I saw 20k I made an offer. (4k down and pay it off in 3 years) A new pictice window in the front, siding, and a metal roof on it and it'll be a super deal for me. (no bank involved)



Pretty nice feeling to know we are cutting our own grass instead of the "people" who own it huh. Congrats man.
 

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AverageJohn, if you really don't want people to know exactly where your house is, you should also redact the MLS #. Just typing that and the city into Google got me right to this listing.
 

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Discussion Starter · #17 ·
Heres my latest project.

I'm updating the main bathroom. I ripped out all the old plaster walls and we just put up new greenboard from the ceiling four feet down and hung dura-rock below that. I'm gonna beat the cinder-crete floor out and replace the rotted joists this week and put in a new floor. Don't worry either, they put up the walls before the floor so the floor is floating and won't effect the stuff we just hung.

 
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