New Purchase, why the car sits!

skunk21 · Sep 21, 2009

JustaMustangguy said:
Considering you took out a big loan to buy this house, its not that impressing to be 24 and own a house. Bc its not like you paid for it yet. Your just living off borrowed money. So pretty much if your 18 or 60 you could have this house. What IS impressive, is if you can buy the house with cash money that you have saved up. I personally wouldn't gloat about taking out a 100k plus loan. Thats just me. But hey, half the problem with this country right now is people borrowing to much money and they can't pay it off. What makes it worse is if they lose their job. Best of luck! Not to be a dick. But anybody who is old enough to understand will agree with me.

So to answer your question... Not bad for 24 years old? Getting yourself in huge debt, i'd say its bad. But to each is his own. Best of luck

I think Brian has all the right to come on here and "gloat" about his accomplishment. 1st off he like many that come from a hard working family understand the value that comes along with hard work, he set a goal to own a home and made his goal at a young age. I did the samething @25 for my 1st home and did it at a time when banks (if you wanted a conventional loan) wouldn't look at you w/o 20% down and a good job. Face it before this short period of out control mortgages and given them to people who couldn't afford them the hardest thing to gain in this country was a piece of the american dream "a home" . It wasn't that long ago that if you where in your 20's and owned a home that said something about yourself and to others because just about everyone including our parents new how hard it was to get a home. My point, there was and still is something to say about having the ability at any age to purchase a home. The huge debt comment..I had to chuckle, there a very, very, very few people that can plunk down cold cash for a home. Credit cards are debt, car loans are debt, property is an investment.

SVT32VDOHC · Sep 21, 2009

Brian.......NICE!!!!! That house looks sweet. You should be very proud of yourself. Do you guys have nasty winters? Hopefully your girl can make if up that driveway!! Looks steep. I know your super duty will have no trouble.

Mustank · Sep 21, 2009

JustaMustangguy said:
Considering you took out a big loan to buy this house, its not that impressing to be 24 and own a house. Bc its not like you paid for it yet. Your just living off borrowed money. So pretty much if your 18 or 60 you could have this house. What IS impressive, is if you can buy the house with cash money that you have saved up. I personally wouldn't gloat about taking out a 100k plus loan. Thats just me. But hey, half the problem with this country right now is people borrowing to much money and they can't pay it off. What makes it worse is if they lose their job. Best of luck! Not to be a dick. But anybody who is old enough to understand will agree with me.

So to answer your question... Not bad for 24 years old? Getting yourself in huge debt, i'd say its bad. But to each is his own. Best of luck

Still better to be in debt for 20 years than to pay for someone else's mortgage while renting for 20 years. Especially when the monthly cost isn't that much higher...

Just sayin'...

But I agree, it's nothing to brag about.

25thmustang · Sep 21, 2009

I know what your saying JustaMustangguy, and I "sort of" agree with you. Number one in order to be financed in this economy for a mortgage it isn't so easy every 18 year old is doing it. They are much tougher about it now. I'm not sure I was "gloating" or "bragging" about the house, I simply tossed it in there as a little joke with some people...

No I did not pay cash for it, the average person doesn't pay cash for the cars they buy, let alone the house they have. I wouldn't think anyone will come on here and say they tossed down $300K cash to buy a house? Maybe I'm wrong?

So paying more than half my mortgage on rent was better than paying for something like a home?? Or should I have just lived at home till I could pay cash for the house? I guess I'm not sure why me purchasing a house I can comfortably afford is a "bad" thing???

Either way, you guys have your opinion. If you feel I am the reason the economy is falling apart, and I am a failuer for taking a mortgage out on a house, then so be it, obviously I don't intend to get the same congrats from everyone.

Our winters can be bad around here, but we both have 4wd, and the house is only 15-20 from the old man with his brand new cummins and an 8 foot Boss plow.

LaserSVT · Sep 21, 2009

JustaMustangguy said:
Considering you took out a big loan to buy this house, its not that impressing to be 24 and own a house. Bc its not like you paid for it yet. Your just living off borrowed money. So pretty much if your 18 or 60 you could have this house. What IS impressive, is if you can buy the house with cash money that you have saved up. I personally wouldn't gloat about taking out a 100k plus loan. Thats just me. But hey, half the problem with this country right now is people borrowing to much money and they can't pay it off. What makes it worse is if they lose their job. Best of luck! Not to be a dick. But anybody who is old enough to understand will agree with me.

So to answer your question... Not bad for 24 years old? Getting yourself in huge debt, i'd say its bad. But to each is his own. Best of luck

Damn n00bs, STFU!

Brian is a good dude and makes wise choices. I wish I was smart enough at his age to buy a house instead of wasting it on all the cars I did. He has a beautiful home and the fact that he could buy it in this ecconomy says allot! I have friends with scores in the 780-810 range putting a solid 25% down and the banks still are not buying because they are being over cautious now. If he was able to buy a house like that then you know he is doing something right! I am very happy for him and he has every right to brag about it! I own my house and allot of land outright and I am no where near as proud as I would be if I owned his house with payments.

Sorry Brian, i am still happy for ya. I love the new house and if you treat it like your car I am sure it will be the nicest on the block.

90lxcoupe · Sep 21, 2009

Congrats, im 24 also and just closed on my house in June, its a 1200 sq/ft rance with a 1 car garage and a finised basment. also mynes not a fixer upper, it was move in ready, like your place. Looks nice from the pics, i wish i could have afforded to move to CT, but the cost of living is way more than spfld.

Ass for the comment about it not being a big accomplishment... i disagree, being 24 and buying a house on your own is big stuff, if anything the young housebuyers are helping the econemy not hurting it. Do you know how hard it is to get a mortgage these days? you have to document why every dollar is in your bank account

I busted my ass to keep good credit up and make sure that when it came time to get a mortgage that nothing would hold me back. Ive also worked hard since i was 16 years old and didnt get myself into a mortgage i couldnt afford.

its the perfect time to buy, i dont know about the rates now, but i was able to get 4.875% fixed rate

Also

bentley429isBAC said:
Nice place right on the end of a culdesac if thats even close to how you spell it? My g/f and I just moved in our house few months ago, same kinda setup as yours first time my car went there clearly I put it on brake and hammered down for a few feet. Hope your planning on doing the same! BTW where is the place? Congrats its a hell of a lot better then renting!

I like the way you think, i didnt do it with my car, the rental vette gets the credit here...

25thmustang · Sep 21, 2009

Yes, getting the mortgages is preventing the people who can't afford them... If I couldn't afford it, I wouldn't be able to get it. Getting a house for ANYONE is an accomplishment, not just at a younger age. I'm not sure if my tone or wording came off as bragging or gloating, but it was not the intention. I'm just happy that this is something I was able to do, and should work out for a very long time.

Sure I might lose my job, but thats a gamble everyone is taking, right? I'm not going to hold back on something with a fear of the future.

BTW, my credit score was insanely high (NO idea why, I do pay everything off and always have) and the rate we got due to a few nice incentives was very low. Paid no points, got some closing costs included that helps us out, and with the money we are putting down, the mortgage is far cheaper than most would probably think. In my opinion paying a bit more for a mortgage than the rent I was already into, will be well worth it in the end. I have something for my money, and with the economy, something that in time will be worth a bit more than I paid for it. It was assessed at close to what I paid, and we all know the assessment is 70% of the apraisal.

To each his own, if people think I made a bad choice purchasing a home verse renting, especially without knowing my financial situation, then thats their opinion. I think what I did was smart, so I will continue to be happy about it.

Thanks for the input from everyone, whether good or bad. Always helps to hear every thought process.

25thmustang · Sep 21, 2009

BTW yes CT is expensive. The houses and cost of living here is a ton. I figured Springfield would be bad as well.

This house down south, probably would have sold for half what it did here. No worries, the money here is better.

Kornnut · Sep 21, 2009

JustaMustangguy said:
Considering you took out a big loan to buy this house, its not that impressing to be 24 and own a house. Bc its not like you paid for it yet. Your just living off borrowed money. So pretty much if your 18 or 60 you could have this house. What IS impressive, is if you can buy the house with cash money that you have saved up. I personally wouldn't gloat about taking out a 100k plus loan. Thats just me. But hey, half the problem with this country right now is people borrowing to much money and they can't pay it off. What makes it worse is if they lose their job. Best of luck! Not to be a dick. But anybody who is old enough to understand will agree with me.

So to answer your question... Not bad for 24 years old? Getting yourself in huge debt, i'd say its bad. But to each is his own. Best of luck

LOL wow

25th that is a good looking house you got. Don't listen to n00b infomart 2000. A home is a great investment. At 24 buying a house is great. The wife and I bought our first one last year. It feels good to call a place your own and be able to hang your hat so to speak. Join here also. Lots of great idears. The Garage Journal

90lxcoupe · Sep 21, 2009

25thmustang said:
BTW yes CT is expensive. The houses and cost of living here is a ton. I figured Springfield would be bad as well.

This house down south, probably would have sold for half what it did here. No worries, the money here is better.

Springfield isnt too bad, i got into my house for about 160 (but you can get a ranch from 110-130 that needs work) in a nice neighborhood, about 5 minutes from wilbraham, really quiet(except for my car ) Its about 5 blocks from where i grew up, i'd say that house in spfld would have gone for about 220-240 in spfld. But from talking to people at work(windsor), taxes are about 2x what im paying in CT.

1990Coupe · Sep 21, 2009

Brian, the house is BEAUTIFUL and HUGE!!! Something like that in jersey would be damn near close to 400k! Its awesome becoming a homeowner isn't it? My car kinda sits too since all the time and money is going into my house! Our house was fairly turn key as well - it was recently flipped before we bought it. Congrats again! Wanna come see it!!

PS. got your e-mail, I dont think i can get enough folks together this year for an atco trip. The guys over there seem to be not buying it that much. Unless we can get people over there from Stangnet, i'd be down.

ill advised · Sep 21, 2009

nm

LaserSVT said:
Damn n00bs, STFU!

+1

SVT32VDOHC · Sep 21, 2009

JustaMustangguy said:
Considering you took out a big loan to buy this house, its not that impressing to be 24 and own a house. Bc its not like you paid for it yet. Your just living off borrowed money. So pretty much if your 18 or 60 you could have this house. What IS impressive, is if you can buy the house with cash money that you have saved up. I personally wouldn't gloat about taking out a 100k plus loan. Thats just me. But hey, half the problem with this country right now is people borrowing to much money and they can't pay it off. What makes it worse is if they lose their job. Best of luck! Not to be a dick. But anybody who is old enough to understand will agree with me.

So to answer your question... Not bad for 24 years old? Getting yourself in huge debt, i'd say its bad. But to each is his own. Best of luck

Who the **** are you? Go crawl back in the hole you came out from. Brian is a respected member and is showing us guys/gals what he bought. You are a POS, but hey...the internet is loaded with them.

Just about everybody takes a loan out for a house. They also take them out for cars. If you were old enough, you would understand what it takes to get financed these days, but I understand you're just a little baby still living at home.

90lxcoupe · Sep 21, 2009

unless you inherited a large sum of cash, hit the lottery or deal drugs, you arent gonna be buying a house without a mortgage. its that simple, how the **** is a person under the age of 30 gonna have over 150k just sitting in the bank?

FrankenStang · Sep 21, 2009

JustaMustangguy said:
Considering you took out a big loan to buy this house, its not that impressing to be 24 and own a house. Bc its not like you paid for it yet. Your just living off borrowed money. So pretty much if your 18 or 60 you could have this house. What IS impressive, is if you can buy the house with cash money that you have saved up. I personally wouldn't gloat about taking out a 100k plus loan. Thats just me. But hey, half the problem with this country right now is people borrowing to much money and they can't pay it off. What makes it worse is if they lose their job. Best of luck! Not to be a dick. But anybody who is old enough to understand will agree with me.

So to answer your question... Not bad for 24 years old? Getting yourself in huge debt, i'd say its bad. But to each is his own. Best of luck

So, how many people do you know that aren't filthy rich that saved 150 - 300k to buy a house outright and isn't already 75 years old? Your statement is unrealistic.

SVT32VDOHC said:
Who the **** are you? Go crawl back in the hole you came out from. Brian is a respected member and is showing us guys/gals what he bought. You are a POS, but hey...the internet is loaded with them.

Just about everybody takes a loan out for a house. They also take them out for cars. If you were old enough, you would understand what it takes to get financed these days, but I understand you're just a little baby still living at home.

While I agree that justamustangguy's post isn't entirely necessary...

You should know by now that personal insults are against http://www.stangnet.com/mustang-forums/685806-stangnet-terms-service.html.

SVT32VDOHC · Sep 21, 2009

FrankenStang said:
While I agree that the above post isn't entirely necessary...

...

You should know by now that personal insults are against http://www.stangnet.com/mustang-forums/685806-stangnet-terms-service.html.

I'm sure they are, but I've been a member here since 2001. Brian has been a member here since 2003. We both know the rules. If personal insults are against SN TOS, then take action on the noobie. While Brian can hold his own, I was simply sticking up for someone that is valued here on SN. SN has no need for the noobie in this forum. If I was a mod, I would have him right after his 1st post.

fivespeedsteed · Sep 21, 2009

of course it would have been much more of an accomplishment to buy it in cash. but i dont know very many people youger than 40 that have that kind of money sitting around. plus if he did buy it cash then the question of how he came about it arises. just like 90lxcoupe said. unless your a trust fund baby, or deal allot of drugs, this is the perfectly normal thing to do. there was a tax bonus last year if you bought a house, now is the time to do so ( not saying the bonus exists now, but it shows that nows the time).

congrats 25th on the house. looks awesome. the porch/back yard/garage setup looks like a good time.

FrankenStang · Sep 21, 2009

SVT32VDOHC said:
I'm sure they are, but I've been a member here since 2001. Brian has been a member here since 2003. We both know the rules. If personal insults are against SN TOS, then take action on the noobie. While Brian can hold his own, I was simply sticking up for someone that is valued here on SN. SN has no need for the noobie in this forum. If I was a mod, I would have him right after his 1st post.

Read my post above again.

Really? Then you'd make a terrible mod because he didn't really do anything against TOS. He gave his (unrealistic) opinion. You're right. Brian CAN hold his own. He handled it pretty well and with maturity. It looks to me like he doesn't NEED back up from anyone so, keep the name calling out of it.

Shaolin Crane · Sep 21, 2009

fivespeedsteed said:
of course it would have been much more of an accomplishment to buy it in cash. but i dont know very many people youger than 40 that have that kind of money sitting around. plus if he did buy it cash then the question of how he came about it arises. just like 90lxcoupe said. unless your a trust fund baby, or deal allot of drugs, this is the perfectly normal thing to do. there was a tax bonus last year if you bought a house, now is the time to do so ( not saying the bonus exists now, but it shows that nows the time).

congrats 25th on the house. looks awesome. the porch/back yard/garage setup looks like a good time.

tax incentive is still going on for 8k i believe

SVT32VDOHC · Sep 21, 2009

FrankenStang said:
Really? Then you'd make a terrible mod because he didn't really do anything against TOS. He gave his (unrealistic) opinion. You're right. Brian CAN hold his own. He handled it pretty well and with maturity. It looks to me like he doesn't NEED back up from anyone so, keep the name calling out of it.

I'm glad you think so. At least I contribute to the technical side of SN and answer peoples car questions to help them out.

The newb in this thread is actually why I haven't logged into SN in a long time. I came on here and saw how many newbs there are making pointless comments and pointless threads that get locked. I have never seen so many threads with the "red dot" on them.

New Purchase, why the car sits!

skunk21

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SVT32VDOHC

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Mustank

25thmustang

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90lxcoupe

25thmustang

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25thmustang

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Kornnut

90lxcoupe

1990Coupe

ill advised

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90lxcoupe

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Now, give me a damn CT!

SVT32VDOHC

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Now, give me a damn CT!

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