Possibly sad news

[ROJO]

1. Home values and rates will not be this low for a VERY long time. So, yes if you need the cash then sell your bike. You can and will get another one.

2. I'm not sure about the value of the bike. It looks sweet though.

property is a terrible investment.

err....property/home is the best investment you can make in your life. It's one of the few things being tangible that will appreciate in value.

 

[08levin]

One thing we did is roll the closing costs into the mortgage. If your tying up all of your liquid assets buying the place, make sure you also have the estimated property taxes put into escrow so you dont get a big suprise when that bill arrives.

I say keep the bike and get creative on finding the extra cash. Maybe just sell the aftermarket parts, or sell the bike and after some time you can get an equity line and buy another bike that you can write off the interest on.

Another note...for a few years, it might be tough, but then it will get easier assuming your pay increases. Get the house you want.

 

[brightbuell]

Honestly if you dont have enough cash unless you sell shit i would say your in no condition to buy a home. What happens if you get laid off for two months?
you are already in the whole. People should not buy homes unless the have savings or security to cover reality situations. Save a little longer and once you have enough for the down payment plus some backup security cash then you wount be half assing it. Just saying.

 

[Breto]

ROJO,I with you,The gains you can make on the right propity can be ten times more than you can save in the same time.play your cards right you will have 3 Buells,and in your own shed.

 

[treyflee]

A house in generally a good investment, but recent times have shown it is not a given. In fact where I live in FL, people I know in mortgage and banking are guessing that this is no where near the bottom for house prices. still too many for sale and no one qualifiesto buy them. That said houses keep dropping, at least where I'm at, every area is different.

Also day 1 of house ownership brings higher cost. Do you already own a lawn mower, weedeater, etc. A higher electric/water bill is probably also reality. Hell my cable even went up when I moved from my apartment to a house, because I had to get three more cable boxes for the other rooms.

 

[fwkapaun]

I won't give my advice one way or the other, but I'll say get ready for a lot of little expenses. There is always some type of maintenance to do around a house. Set up a fund for that once you buy the house. Owning a house will certainly grow you up. Best of luck to you.

 

[flaya564]

Wow... Love this place. Thank you guys for the all the pros and cons of home ownership. In reality, I hadn't thought of all the little surprises and expenses that could arise. I think it's probably a good idea to wait on home ownership.

thanks again everyone.

 

[RT Performance]

This is the time to buy the market is low and slowly starting to come back

 

[wiznut]

This is the time to buy the market is low and slowly starting to come back

Until the next crash... there is still a lot of foreclosure out there, the job market is still weak, and there are still democrats in office....