Friday, April 17, 2009

Medium-sized decision

I've decided to buy a house out here. There aren't many houses for rent and those that are, suck ass. There are thousands of houses for sale and now is a good time to buy. Interest rates are below 5% and I can get an FHA loan which means I only need to front 3%. You can get a pretty decent house (~1500 sq feet, 3 bed/2 bath) with all the fixin's for less than $300k. That means I only need to front about $9k and my mortgage payment would be around $1500/month. Not too shabby. I'm hoping that my new company will pay for me to stay in temporary housing long enough, but if not, I can pay. I think it takes something like 30 days to close on a house so I better get crackin'.

Oh yeah, I also heard that you can get a tax credit of 10%, up to $8k, if you buy before the end of the year. That should give me a couple thousand back next year and I'll get to start deducting mortgage insurance as well. Sweet tits for sure. I know it's a big step, but I should take advantage of this soft market and it'll be good for me psychologically. I even found one place that comes with 25 acres. That would be super sweet. I'd have a park in my own backyard. Maybe I could lease it out so that someone could farm it.

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