Message from @John O -

Discord ID: 418052952914132992


2018-02-27 00:44:18 UTC  

thatd be sweet

2018-02-27 00:44:33 UTC  

i was very close to my grandparents growing up.. they were a 10 min drive away

2018-02-27 00:45:57 UTC  

Yeah having multi-family homes with family is a pretty great idea if you're close

2018-02-27 00:46:10 UTC  

When my grandma grew up in the Bronx, her family all lived in the same building. Same with my other Grandma in Boston, and my Grandpa in Brooklyn

2018-02-27 00:46:24 UTC  

Err, not quite my grandpa

2018-02-27 00:47:12 UTC  

Ha yeah only kicker is my dad loves his house too much to move

2018-02-27 01:21:00 UTC  

Have you tried looking in ossining or peekskill? my buddies sister just bought a house up there for around 500k. Very nice home fit for a family. @ThisIsChris

2018-02-27 01:21:53 UTC  

The metro north has its last stop in croton on hudson right between the two so the ride into the city is not terrible.

2018-02-27 01:24:08 UTC  

Yeah that area is super nice. I will have to think about it, thanks for the recc @Louis Loire - NY

2018-02-27 01:24:31 UTC  

500k not bad for a house in a place that nice

2018-02-27 01:25:19 UTC  

I have to admit I haven't looked North of NYC yet, will have to do my research. I'm usually poking east since my family is that way

2018-02-27 01:32:32 UTC  

Westchester is super expensive in spots but quite reasonable in others

2018-02-27 01:32:53 UTC  

much cheaper then the city though

2018-02-27 01:34:40 UTC  

Ossining, Peekskill, Tarry Town, Hastings, Dobbs Ferry, upper Yonkers, Croton all of these are decent little river towns.

2018-02-27 01:35:13 UTC  

All of them are also on the Metro North line so getting to the city is again not terrible

2018-02-27 03:09:18 UTC  

@Deleted User APMEX, Provident Metals, or Gainesville Coins are my go-to online bullion dealers, with Provident being my #1

2018-02-27 03:11:10 UTC  

@Deleted User Sorry, was AFK. Buy at the local coin shop and become friends. You will never pay spot, usually spot plus the shop premium, ~3%, but building he rapport is better than buying online, some states charge tax for buying gold and silver, there are transactions that may not apply to &c. and they will inform you after due time.

2018-02-27 03:12:05 UTC  

@John O -#7072 Sorry for the doom & gloom, my dude. Acknowledging and understanding the warning signs can be a powerful tool in itself though. I'm right along with you in the house-hunting boat--working with a realtor in Colorado right now...

2018-02-27 05:13:23 UTC  

Economists Urged to Use Fertility to Predict Recessions: https://archive.is/bo5i4

2018-02-27 05:45:52 UTC  

lol, they should have done that a generation ago when they had the ability to warn of demographic decline.

2018-02-27 14:33:11 UTC  

@Argument of Perigee Yeah, I know it's dumb to buy my first house rn, and I'm not going to. I'm just worried about being ruined if there is another depression

2018-02-27 16:03:14 UTC  

@John O -#7072 fwiw, if I could afford a house that I wanted to live in for 20+ years, then I would just buy it now.

2018-02-27 16:24:34 UTC  

^ For long-term, buying now is probably always better.

2018-02-27 17:01:28 UTC  

Here's what I'm worried about. I want to buy a house, and I have enough saved where I can buy something decent and put down 1/3 of the cost and still have savings rn. My biggest apprehension is, if the economy absolutely shits itself, will I be able to keep working? I do construction, so I'm not very insulated from the whims of the market. Plus, I'm only 23. My credit score is something like 650, but I'm not sure if my age is detrimental to my loan prospects

2018-02-27 17:12:18 UTC  

I've got other things to do with my money, though. I just hope I don't become destitute if the bottom drops out from the economy like @Argument of Perigee was saying

2018-02-27 18:35:17 UTC  

@John O - to judge that a measurement that's commonly used is what % of your income would be used to pay the mortgage. There's varying %s I've read that are good: 28% is a number I hear pushed a lot as "good". Sometimes 33% is considered OK. What number is right for you is usually based on what your income is and how stable it is. If you pull a million a year then even 50-60% is fine since you'll have so much left over. If you pull in 50k then you probably don't want to top 30%. Just to give a rough idea.

2018-02-27 19:03:08 UTC  

Hey guys, I'm tired of renting and am trying to buy a house soon.
I still need to go through all the bank stuff first, but does anyone in here have any advice? maybe things to avoid or watch out for? anything that might make this process easier?

2018-02-28 00:52:47 UTC  

There is a first time homebuyer tax credit.

2018-02-28 00:53:10 UTC  

If a veteran, ask USAA questions.

2018-02-28 00:55:22 UTC  

@Goose i am happy to help but could you perhaps be a little bit more specific. Is there anything you are worried about in particular?

2018-02-28 00:57:13 UTC  

obviously look up the demos of your area and see how good the schools are. issues with the property should be disclosed to you prior to you buying it. lenders usually require an appraisal and an inspection so i wouldnt be too worried about getting sold a shitty house

2018-02-28 01:05:24 UTC  

@Zyzz nothing construction-wise (I'm familiar with that end) right now deciding on which company to get a credit card with

2018-02-28 01:06:05 UTC  

@Freiheit - CA thanks. You think i should go with USAA to get a credit card?

2018-02-28 01:49:33 UTC  

I've heard good things but, USAA I'm told for home loans is good for veterans insurance etc. No personal experience.

2018-02-28 02:58:23 UTC  

First time home buyer credit is something like $7k IRS deduction.

2018-02-28 02:58:32 UTC  
2018-02-28 03:39:34 UTC  

Sadly, the tax credit is no longer available.

2018-02-28 03:41:39 UTC  

Wtf

2018-02-28 03:43:07 UTC  

That was really only a 2007 thing.

2018-02-28 03:44:12 UTC  

There should be a state one. I think.

2018-02-28 03:44:34 UTC  

Definitely worth checking into based on locale.