wilmington, North Carolina, USA
| StoreTags: house, debt, grown up
Author: seanh on March 01 2007 Viewed 3785 times. 18 people liked this blog. You can rate it below if you haven't already.
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i closed on my house last week. send me house warming gifts. i am totally a grown-up now. i bought my mom's house from her. i am pretty happy about it. one of the rooms will be a studio, awesome. i am in debt until i am sixty years old. | |
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edited: Mar 02 2007
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vveerrgg
congrads on the house... If nobody else tells you this... you're a wise and great man to make the purchase and settle down.
.....and now nobody can kick you out for too much noise.
EDIT: and the best part is.... couple of years you'll have the equity in it to leverage against other things. Which is something you could never do as a renter. So think of it like this.... 3 years of mortgage payments should give you enough equity to borrow against to start that dream record label you've always wanted to start. 
....take your time and plan your projects and you could have you house launch you into something awesome. I bought my place 4 years ago and it's helped me get grounded enough to start some neat projects. It's all about planning and working towards an end goal.
03/02/07
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deltasleep
I just took a personal finance class- take a look at a mortgage calculator and understand just how much money you can save in the long run by paying more than the minimum payment. Just think about every dollar you pay in extra principle as saving you $3 in your 30 year mortgage, probably even more. Did you buy a house in Wilmington? I thought that was a BEAUTIFUL place when I was there, I am so jealous!
03/03/07
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soundhdack
Pay it off as soon as you can. Sure, you want to enjoy life, but you will enjoy life much more, much sooner if you pay the house off in the least amount of time. So if you have to pay $12,000 a year on it, get a part-time job and pay $24,000 a year on it. You won't regret it–free and clear is where you want to be.
03/03/07
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seanh
i am pretty stoked, actually. my mortgage payment is pretty cheep. i can do fun stuff to my house if i feel like it too. i don't have a payment until april first and i am debating on weather or not i should buy an evolver or a K5000 or something.
roshi: the Q80EXe is awesome. it should be hooked back up this week sometime. if i am not feeling too much post-work related lazyness.
yes, deltasleep, my house is in wilmington.
so: if anyone wantin to visit the southeastern north carolina coast, you have a place to stay for free.
03/05/07
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doofgoblin
congrats man!
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