Yea, I got a great rate! The place is in Grass Lake, MI, between Ann Arbor & Jackson. Home is in town so not too much lawn to take care of. 2 car garage so once it's fixed up a bit, just needs doors adjusted a little, I'll have my own nice workshop for my bike, then I'll have to get another one! I'll have some pics up hopwfully this weekend, might have to wait til Monday since I won't have the net hooked up there for a while and have to do all this at work.

 

CONGRATS!!!

You're going to find out real fast that owning a home is one of the most rewarding experiences of your life. I bought my first house in May of 08 and it's by far the best decision I've ever made.

 

I have to agree with short, though I never lived in an apt, I love living in my own house, despite the extra costs. I've been here for 7 years now. I am good friends with my immediate neighbors which is the whole reason I decided to stay. You canĀ“t buy good neighbors!

Good luck to you. Can't wait to see the pics.

 

The fact is also that my mortgage is far cheaper than just about anywhere I could ever rent and I get to own this one day whereas rent is just dead money ... I think even now buying a modest property here in the UK is still cheaper or as cheap as renting anywhere half decent ... and of course as time and inflation waits for no man then your mortgage becomes less over the years relative to the cost of everything else :-)

Jules

 

Not when a girlfriend changes her mind and walks away with half of something (at the minimum).

 

congrats! my long time gf and i have been looking this week...turns out we are poor people...not one housre we looked at under 400k was even remotely nice in the city so it might be a little longer than we expected

 

Thats half my reason for buying as well. My dad always said buying is cheaper than renting and every apt around here is more per month for rent that my house payment! either way you still have utilities, but I'm going to install programmed thermostates to dial the temp down when I'm not home to save a bit, plus it has radiant heat which from what I've heard is much cheaper, let alone cleaner, than forced air.I think I made out pretty good! The woodwork in the place is real nice too, nice old solid oak. I'll get some pics asap!

 

VP, check out the county auctions.

First try to get pre-approval. You can get a list of the houses up for auction from the county. Then you need to check what type of liens are wiped out as result of the house auction. Then you need to check what liens are on the house that you are looking for (you will be responsible for paying them off immediately). The house auction should start at what the mortgage company is owed.

There's more details, I just don't feel like getting into right now. Like what kind of checks to get from the bank... things to look for.

You also need to check when the county expects remaining payment. If it's 30 days or more you should be OK for a conventional loan. Anything less will have to go to a different type of lender.

Lots and lots of details and concerns (and risk) but can be worthwhile.

 

Congrats, I got my first one in 12/04 and it's great. Renting a place this size would most definately cost more than my mortgage. Only thing I dont like is shoveling in the winter. I do like mowing the lawn and all the other yard work though.

 

Then get a cheap snow blower.

I have a decent size one, but I blow 4 of my neighbors and then my one neighbor blows his brother-in-law up the street.