Which home to buy "Need some expert advise"

[Fred W]

KB does not have a good reputation among my many fellow tradesmen. But, of course, one can find critics of anything --- except Guinness.

[Homer voice]

MMmmmmm...

Guinness

[/Homer voice]

 

[Low Level FJR Pilot]

If you want to hear what your neighbors are thinking before they say it, go for the tract home. If you want some space go for the land. Also, you can always look to see if you can develop one of the acres, put a couple of houses on them it and then sell them to recoup your investment. Happens all the time, just depends on zoning.

 

[lacofdfireman]

going against the grain here - for the kind of money you are talking about you could live in a rented condo for a long time and have a hell of a life without being house poor from a $350k mortgage payment.
Maybe home prices appreciate greatly where you live but in Houston a house is not a great investment.

The more I think about it the less I like living in and paying for a house and all its associated costs like insurance, maintenance, property taxes, etc.

I don't understand why anyone would want to rent a home. I have been doing it now for 1.5 years and it's a waste of money in more ways than 1. Every home I have owned I have made $50-100k on in less than 3 years. Renting there in never a return on your money and most peoples rent payment is with $400-500 dollars compared to a mortgage payment. Also the tax benifits. With me making $150k per year and not owning a home I am in a much larger tax bracket so I end up not even getting much of a refund at the end of the year renting vs. owning. For example 2 years ago I had about a $19k tax return vs. maybe $3-4k tax return I will get this past year from renting. To me there are no benifits from renting a home. It's just flushing money down the toilet IMHO.

 

[Fencer]

To me there are no benifits from renting a home. It's just flushing money down the toilet IMHO.

+1

 

[John_Dumke]

20 years in Real Estate...

Get the custom home on the land. No comparison.

 

[krashdragon]

Last thing I want to do was to be House Poor. I think we will sleep on this awhile and not make a hurried decision.
Also as far as the Semi truck pulling my Toyhauler that is long gone. I bought another on after I owned that one. Both were investments and I made money one each and both were bought and paid for cash. I have a hobby of buying and restoring Class 8 trucks and reselling to pull RV trailers. These trucks were both bought for under $25k, restored and sold for $35-40k. There is no better way to pull one of these Monster toyhaulers. I currently pull my toyhauler with a Dodge Dually 1 ton and that trailer will push my truck anywhere it wants. I am currently looking to buy a Peterbilt 387 to restore and Register as an RV again to pull my Trailer. When I say restore I mean these are truck with alot of miles 700-1million miles and I gut the interiors and redo and repaint the exteriors, build a bed on the back etc....

Very good decision... but it's like buying shoes... If your feet aren't happy, don't buy the shoes...

If Mama ain't happy, dont' buy the house.....

Personally, I'd dump the tract house.... if they won't or can't change anything, then what are they using for labor and parts?

That's like buying a new car and getting new upholstery because you don't like the color.....

Way cool about the Class 8's!

Umm......build me one of these ... cheap!

https://www.powerhousecoach.com/coaches1.html

I just want a nice little 33-35'er with a hydraulic tailgate lift on the back for a bike... oh, and 4WD....<G>

I don't want all the bells and whistles: crystal cabinets, granite countertops, glass showers and stage lighting!... just more crap to clean~!

I'd rather be riding or even sewing than cleaning! <LOL>

Mary

 

[Tek]

Last thing I want to do was to be House Poor. I think we will sleep on this awhile and not make a hurried decision.

I'm glad to hear that you're taking your time and not rushing either way. I just bought my house last year and in my opinion, having more space between you and your neighbors is never a bad thing. You can always add things to the house if you have enough property, but in the tract, you'll have a much harder time, not even mentioning anything like a local homeowner's association/neighborhood covenants....