first house

[GrayStangGT]

I paid 160k for mine, but that is what you have to spend to get a nice one out here. In DFW I could have got one around 130 or so.

[slow99]

I paid 160k for mine, but that is what you have to spend to get a nice one out here. In DFW I could have got one around 130 or so.

I miss Dallas RE prices. $130k won't buy a cardboard box out here. The top floor (1 floor, not the whole building) of the house next to us is on the market for $799k. 1500 sq feet, 2 bedroom, 1 bath...Jesus Christ.

[Denny]

I miss Dallas RE prices. $130k won't buy a cardboard box out here. The top floor (1 floor, not the whole building) of the house next to us is on the market for $799k. 1500 sq feet, 2 bedroom, 1 bath...Jesus Christ.

I'm so glad we got out of there when we did (1990). My partents made almost 200% profit selling their house after only owning it for 8 years. I still have yet to go back. I hear that they're wanting to raise the hell out of the state income tax as well. I know you guys have good reason for being over there with your career paths, though. People like me, there's no hope. You're in the Bay Area, right? I was born in Monterey.

[Denny]

For the DFW Area, I set my limits before I look. I go with my salary and multiply it times two. (ie: making $75K, I won't look above $150K). Assuming that you'll be financing, you missed the super-low rates, but they are still pretty good right now. Hopefully, you've stashed something for a down-payment as I'd recommend 20%. You'll have a solid foundation to your investment (yes a house is still an investment), you are more likely to get the best rates available, and you'll avoid PMI (private mortgage insurance). This SHOULD land you around 20% of your take-home on a 20 year, 5% with the escrow added (hopefully).

That's about as far as I can go on it. Once I come up with solid numbers based off my income, THEN I start looking for the house.

[bonnie&clyde]

does the government still give 10k to put down on your first house?

[SS Junk]

Ugh... house prices in TX make me sick.

[Denny]

does the government still give 10k to put down on your first house?

It was up to $8K, but I'm not sure if it is still available.

[Roscoe]

It was up to $8K, but I'm not sure if it is still available.

That ended in April or May of 2010...

[Lone Sailor]

That ended in April or May of 2010...

Yep. That boat is long gone. Hopefully never to return.

[Juiced4v]

I think I paid like 140k for my first house about 8 years ago.

[Chili]

Putting a hard price target on your first house, just because it is your first house, makes no sense. You should buy based on your income and reserves (ie what you can afford). And don't go out and get a preapproval for a much higher amount than you need and buy at that level because you can.

[Dan03mach]

I'm looking at a house right now I'm wanting to buy and it is $140,000. It is 2380 sqft on almost an acar of land. Very nice house too. Just one thing it doesn't have a garage. It looks like the garage that once was there was turned into another big room. O well I will have enough room to build me a shop in the back later on.

[Dan03mach]

Putting a hard price target on your first house, just because it is your first house, makes no sense. You should buy based on your income and reserves (ie what you can afford). And don't go out and get a preapproval for a much higher amount than you need and buy at that level because you can.

Exactly. I'm buying a house that I can afford all by my self just incase the other half desides to leave one day. I don't feel like moving.

[SVT Lurch]

does the government still give 10k to put down on your first house?

$8,000 and no. If you're a city employee some cities do offer "grants" and other things if you're buying in the city where you work (Frisco is one).

[bcoop]

Nate was supposed to be my realtor, till he got fresh with my wife.

If your wife is mid-late 30's, possibly up to mid 40's, guard your shit. Twice.

wtf?