I bought a house to park my Jeep in.
Moderator: ericjon262
I bought a house to park my Jeep in.
It's like 1600sqft, 3 bed 2 bath, brand new with radiant floor heating and a bunch of other good energy shit. And it has a 3 1/2 car attached garage! 3 door, but the third bay is 50% longer than the other 2. It'll do. $190k mortage is 15yr, I don't remember the interest rate. Payments are $1600/mo, so coupled with the car payment, it's going to be tight for a few years. I move in in a week, with my cars, so hopefully I'll get the Fiero going much quicker now.
88GT 3.4 DOHC Turbo
Gooch wrote:Way to go douche. You are like a one-man, fiero-destroying machine.
- crzyone
- JDM Power FTW
- Posts: 4654
- Joined: Wed Nov 17, 2004 12:40 am
- Location: Whitecourt, Alberta, Canada
Re: I bought a house to park my Jeep in.
Why not go 25 year mortgage and reduce the payments? You can always pay it down faster if you want to.
Congrats on the house. I don't regret buying my house 8 years ago, one of the smartest investments you can make. I was lucky enough to buy before the whole market went crazy.
Congrats on the house. I don't regret buying my house 8 years ago, one of the smartest investments you can make. I was lucky enough to buy before the whole market went crazy.
-
- Peer Mediator
- Posts: 15624
- Joined: Wed Nov 24, 2004 11:13 pm
- Location: In the darkness, where fear and knowing are one
- Contact:
Re: I bought a house to park my Jeep in.
Congratulations!
Ditto the mortgage. I have 30 year loans on both of my properties. I would be stupid to pay them back at the bank schedule, as the total interest would exceed the principal. However, I can add additional principal to the payment and have an ROI, in terms of interest eliminated, of nearly 500% on the house with 5.875% interest or nearly 400% on the one with 4.875%. I can also choose not to add the extra pincipal if things are tight on any given month.
Ditto the mortgage. I have 30 year loans on both of my properties. I would be stupid to pay them back at the bank schedule, as the total interest would exceed the principal. However, I can add additional principal to the payment and have an ROI, in terms of interest eliminated, of nearly 500% on the house with 5.875% interest or nearly 400% on the one with 4.875%. I can also choose not to add the extra pincipal if things are tight on any given month.
Re: I bought a house to park my Jeep in.
2 properties Will?
-
- Peer Mediator
- Posts: 15624
- Joined: Wed Nov 24, 2004 11:13 pm
- Location: In the darkness, where fear and knowing are one
- Contact:
Re: I bought a house to park my Jeep in.
Cool. This in CO?
-
- Peer Mediator
- Posts: 15624
- Joined: Wed Nov 24, 2004 11:13 pm
- Location: In the darkness, where fear and knowing are one
- Contact:
Re: I bought a house to park my Jeep in.
What's a build thread without pics?
Re: I bought a house to park my Jeep in.
15 year mortgage has a significantly lower interest rate, and I can afford it so why not?crzyone wrote:Why not go 25 year mortgage and reduce the payments? You can always pay it down faster if you want to.
Congrats on the house. I don't regret buying my house 8 years ago, one of the smartest investments you can make. I was lucky enough to buy before the whole market went crazy.
I didn't really want to buy one honestly, it's a lot of upkeep and money that I don't need, but as everyone around me pointed out, it'd be stupid not to in this economy if you can afford it.
88GT 3.4 DOHC Turbo
Gooch wrote:Way to go douche. You are like a one-man, fiero-destroying machine.
-
- Posts: 975
- Joined: Wed Nov 17, 2004 11:29 pm
- Location: Washington, DC / Kabul, Afghanistan
Re: I bought a house to park my Jeep in.
Rent out the other two rooms, keep the whole garage to yourself and live for near free.
Fiero Build Thread here:
http://realfierotech.com/phpBB/viewtopic.php?t=5947
http://realfierotech.com/phpBB/viewtopic.php?t=5947
Re: I bought a house to park my Jeep in.
I plan on renting one of the rooms, but not sure I want to rent both, I don't want to deal with that many roommates. But that fucking garage is mine!
88GT 3.4 DOHC Turbo
Gooch wrote:Way to go douche. You are like a one-man, fiero-destroying machine.