i took on a renter a few months ago. it's been working out great. she is a very very conservative, religious person. i'm not really on that path but she makes a great roommate. she's quiet, doesn't bring dudes over and cleans up after herself and pays on time

we do watch movies together, go to the gym and grab lunch so its a little more than just sharing a house. she never heard of the twlight craze and always asks what movies are rated before we watch them (usually R haha) but we get along pretty well and it allows me to save even more money and also take an extra trip or two outside of what i normally would have done.

i found her on craigslist. she was the first person who called, came the same day and left me with a check. i admit i was lucky... my bf is looking to rent out some rooms in his house and some effing weirdos have been coming by.

11/18/2009 2:48:25 PM

i don't think i could bring myself to rent my house...i'm crazy protective over the hardwood floors (probably more than i should be, and i know my fiancée rolls her eyes now and then) and that alone would keep me from allowing strangers into my house to live there

but then, i pay for the privilege, so

11/18/2009 2:55:26 PM

^ I used to be that way too.

Then we brought our dogs over.

11/18/2009 3:07:10 PM

dont get me wrong, i have spent most of my adult life living alone, even in college. the main driver in the roommate decision was the ability to save extra money. i was already saving, but this crap economy and being worried about my job for a few months certainly got my attention and the opportunity to split all my utilities (and my monthly HOA of $165) was a no brainer.

i was very nervous about a stranger moving in and sharing my OWN house and not just an apartment. i have been very lucky. she completely respects my home and realizes that it is indeed mine. that fact alone puts me at ease and also the fact that i live here too so i can keep an eye on anything that either needs to be corrected or repaired.

as a result of the roommate, i've been able to save an ADDITIONAL $600 per month, minimum. money. in. the. bank.

however, i would not recommend that anyone buy a house with the stipulation that they'd HAVE to rent out a room or two to afford it. seems like a quick way to either run up credit card debt or get behind on payments. also, a saving strategy once you're in the house (before is better) is a must. shit will break, appliances will bust and you will have to pay for it, somehow.

11/18/2009 3:16:32 PM

I'm the same way as quagmire02. It's not like back in college where all you had to worry about was losing your security deposit.

11/18/2009 3:20:23 PM

Quote :

"My question is how much are these houses all you 25 year old single people are buying and what kind of income are you working with. I'm 29 and single"

DINKs. Dual Income, No Kids. We both hold jobs (for now) to afford the house and get rid of debt. However, as a single person, based on your income, you should be netting ~$2500/month. I'm not sure what your debts/expenses are, but of that, you should able to save $500/month. $1000/month if you want a house "sooner" rather than later.

11/19/2009 6:50:50 AM

another question guys, i'm googling too but i like getting real answers from people that are somewhat in my realm.

what's the realistic amount that i should be able to bargain down on a place?

I'm looking at two places very near each other in town and very similar in size and condition. The first one is in the 170's in a neighborhood with HOA, clubhouse, pool/tennis ammenities.

The second one is in the 150's with no HOA, no clubhouse, or pool.

Am i shooting the moon to think i may be able to bargain that first house down to the #2 price or is it my market where i can all but demand my price?

11/19/2009 9:37:24 AM

Ive always gone with the whole whats the worst thing that can happen... they say no

Yeah you hit it on the head Id with my takehome pay its like 2600 a month ish.. I only count 4 weeks a month. Im easily able to save at minimum 1000 a month right now easily. Ive basically been saving at this time and living where my rent is really cheap to facilitate being able to save more. I think I have also shyed away from buying a place as a single guy Id hate to buy a place and then get hitched and have to sell it because it doesnt work for both of us. If I knew I was planning on being single forever I'd definitely be looking to buy fairly soon with only having myself in mind. Basically I am just saving as much as I can in hopes that when I do decide to make that jump Ill have enough for a reasonable downpayment and such. Its kinda nice to know that I could lose my job and not have to work for at least a year without any problem right now haha. If I had a mortgage that amount of time would probably be cut at least in half.

[Edited on November 19, 2009 at 9:46 AM. Reason : .]

11/19/2009 9:39:42 AM

depends on a lot of other factors (how long the house has been on the market, how motivated the sellers are, etc.)

The worst that can happen is that they say no.

[Edited on November 19, 2009 at 9:41 AM. Reason : ^ aha]

11/19/2009 9:41:17 AM

Not that it is necessarily the best you can do, but any agent in the area should be able to give you an average markdown for a given area. It will at least give you a ballpark figure, but it really depends on circumstances and how motivated the sellers are.

^ In general I would agree with you guys, but if someone really wants a place and they are prepared to possibly spend more, a lowball offer can sometimes make sellers not want to work with them at all. People are emotionally tied to their homes in many cases and lowball offers are sometimes seen as insulting.

11/19/2009 9:47:38 AM

there's nothing a 20-something homeowner wants to do more than talk about the house they own.

11/19/2009 10:24:19 AM

meh, maybe. Like i said, i'm one of the last in my circle to own one and they rarely come up in conversation.

Maybe its on the internet where you have a better sense of anonymity

11/19/2009 10:28:37 AM

probably. just don't go posting pictures of your empty-ass house and shitty yard on facebook

11/19/2009 10:29:35 AM

Quote :

"what's the realistic amount that i should be able to bargain down on a place? I'm looking at two places very near each other in town and very similar in size and condition. The first one is in the 170's in a neighborhood with HOA, clubhouse, pool/tennis ammenities. The second one is in the 150's with no HOA, no clubhouse, or pool. Am i shooting the moon to think i may be able to bargain that first house down to the #2 price or is it my market where i can all but demand my price?"

Factors
- Sellers Motivations (is the house vacant, if so that is a good sign, its costing somebody money)
- Sellers Financial Situation (is seller falling behind on payments?, is rate about to adjust upward?)
- Loan Balance (usually people can not afford to drop the price below the loan balance, also factor in they have a sales commission to pay)
- Time on Market (has it been long enough to make seller more open to negotiation)
- How much is home actually worth? (if its priced appropriately and you haggle down great, if its priced too high you are just haggling down to fair market value)

I could keep on but hopefully you get the picture. Each situation is unique. The best advice I can give you for negotiating is try to figure out everything you can about the opposite parties situation, the house, and the neighborhood. They do not have to tell you about their personal situation but if you can figure it out more power to you. Having a good real estate agent really helps in these situations.

11/19/2009 10:36:01 AM

^^lol, i'll wait until its fully furnished with a Scott's grade yard

11/19/2009 10:47:09 AM

look at the comparables. the recently sold houses near the 170 one. see what they sold for

11/19/2009 10:56:07 AM

I'm 24 and I've been living in my recently purchased condo (2 bed 2 bath) for almost a year now and I love it. Although I live in a condo, I'd have to say it's almost like a townhouse. It's all one floor, there's no one above me, I have a vaulted ceiling, I have an attic, I only share walls on two sides, and I have a garage. So in my opinion it's really what you end up finding. In my neighborhood they also have the classic condo styles, which are basically apartments, and on the flip side have condo's that are similar to mine but are 3 bedrooms that have a two car garage and only share a wall on one side. It's all what you're willing to pay for. I did end up getting a roommate, but we get along great, and although I don't need her financially, with us splitting everything down the middle, it's equal to or cheaper than living in a two bedroom apartment somewhere near NCState.

My condo was a foreclosure that was only 2 years old (2006) and needed minimal repairs to make it look brand new. The HOA fee's are the lowest I found (versus HOA fee's that were much higher and all that accounted for was yard service) and has amenities such as a pool, gym room, tennis court, playground, car port wash and mini green putting area. They also take care of the yard and anything concerning the outside of the condos: shingles, siding, grass, gutters, etc. As for bargaining the price, I'd definitely suggest looking at the tax value of the property you're looking at. Since mine was a foreclosure, the price they were asking was WAY below the tax value. In the end I think I only ended up knocking a few grand off the asking price, had them lower my fixed interest rate, and had them pay all of the closing costs on the house.

I love where I live. My commute isn't bad at all and yet I still am relatively close to downtown Raleigh. The neighborhood is quiet and has age ranges from early 20's to families with children to oldies. I'd have to say a big selling point to me was a garage and a neighborhood pool. I wanted some place to put needed (but not used often) junk and a place for the car. Also, the area I moved to was new to me and thought the pool would be a good way to meet people who live in the neighborhood. I'm also not big on upkeep of a yard, so a place that did that for me was a good selling point.

It basically comes down to what you feel is right for you. The more you look around the better you'll be able to pin-point what really works best for you. Just make sure you have all the information on everything before you make a decision.

11/19/2009 4:16:41 PM