we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.
I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.
Sick house. Nice backyard for and too. Congrats mang.
we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.
I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.
The only sad part is you finally get a house with a garage and you’re ing the 86. Somehow Beep Beep is going to live that garage life.
Think we're going to live dangerously and rent it.
how far away is it? Its doable, but choose tenants wisely....
It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.
I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.
we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.
I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.
The only sad part is you finally get a house with a garage and you’re ing the 86. Somehow Beep Beep is going to live that garage life.
So in an interesting update... Carvana let's you extend an offer, so I didn't make a decision and have another week.
My mom offered their Durango since she now has two cars for one person - she wants to keep it for now since she has a camper and things but won't drive it much. She was like 'keep your orange car and this can be a kid hauler'. It's a nice idea but I drive the 86 so little as-is. I still think something like an STI I'd get a lot more use out of and I wouldn't have to drive the Durango.
F150 is still on the table as well, it's actually sick and I wouldn't mind driving it for a few months for the lolz. Looks like this:
how far away is it? Its doable, but choose tenants wisely....
It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.
I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.
Makes sense. I would model it out vs taking the cash now and investing it. I'm curious where the break even on the appreciation of the old house vs index funds going BRRRRR. You'll probably come out ahead renting with pretty conservative estimates on occupancy, repairs, etc. It's a pretty small house, right? So even major repairs shouldn't be too bad.
It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.
I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.
Makes sense. I would model it out vs taking the cash now and investing it. I'm curious where the break even on the appreciation of the old house vs index funds going BRRRRR. You'll probably come out ahead renting with pretty conservative estimates on occupancy, repairs, etc. It's a pretty small house, right? So even major repairs shouldn't be too bad.
Yep, only 1100 sq. ft. and knock on wood it's been very reliable - pretty simple structure with slab construction, brick exterior, etc.
The only sad part is you finally get a house with a garage and you’re ing the 86. Somehow Beep Beep is going to live that garage life.
So in an interesting update... Carvana let's you extend an offer, so I didn't make a decision and have another week.
My mom offered their Durango since she now has two cars for one person - she wants to keep it for now since she has a camper and things but won't drive it much. She was like 'keep your orange car and this can be a kid hauler'. It's a nice idea but I drive the 86 so little as-is. I still think something like an STI I'd get a lot more use out of and I wouldn't have to drive the Durango.
F150 is still on the table as well, it's actually sick and I wouldn't mind driving it for a few months for the lolz. Looks like this:
That is fuckin beautiful. Also want to know which engine is in it?
how far away is it? Its doable, but choose tenants wisely....
It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.
I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.
how far away is it? Its doable, but choose tenants wisely....
It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.
I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.
Curious how the "2k more per month" thing got calc'ed. A 680k house is prob around 4k a month easy. Unless you're netting the current 2k you're paying from the additional 4k you will be paying.
It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.
I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.
Curious how the "2k more per month" thing got calc'ed. A 680k house is prob around 4k a month easy. Unless you're netting the current 2k you're paying from the additional 4k you will be paying.
Sounds like the mortgage on the new house is $2k/month more if they keep the old house and rent it, as opposed to selling it and rolling that equity into the new house.
Curious how the "2k more per month" thing got calc'ed. A 680k house is prob around 4k a month easy. Unless you're netting the current 2k you're paying from the additional 4k you will be paying.
Sounds like the mortgage on the new house is $2k/month more if they keep the old house and rent it, as opposed to selling it and rolling that equity into the new house.
Yep, current house mortgage is higher due to being a 15 year, ~$2300, so the rent would pretty much just cover it after paying a property manager.
So from a budget perspective, new mortgage will be $2-2.5K more
we started looking around at some places and it escalated quickly.
wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.
and 
too. Congrats mang.
ing the 86. Somehow Beep Beep is going to live that garage life.
two home ownership life!
