Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-24-2020, 05:56 AM   #21
Thinks s/he gets paid by the post
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 2,958
Congrats!
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
GravitySucks is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-24-2020, 06:27 AM   #22
Recycles dryer sheets
 
Join Date: Oct 2015
Location: Indiana/Florida
Posts: 280
Are you planning to call it the poor house?
bigcmagor is offline   Reply With Quote
Old 08-24-2020, 08:37 AM   #23
Thinks s/he gets paid by the post
38Chevy454's Avatar
 
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 2,982
Congratulations. Finding a house is always a balance of wants and prioritizing the must have vs nice to have. Sounds like you got all of your must have and many of the nice to have. You will be even happier once you move in. Nice that you had the money available right now and no qualification or other contingencies, to have a very attractive offer for the seller.
__________________
The advice we're giving you is invaluable, that's why it's free
Experience is a good teacher, but the tuition can get expensive real fast

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
38Chevy454 is offline   Reply With Quote
Old 08-24-2020, 08:42 AM   #24
Thinks s/he gets paid by the post
SumDay's Avatar
 
Join Date: Aug 2012
Posts: 1,801
I got an adrenaline rush just reading this! Congrats. Keep us posted on the relocation. I prefer to live vicariously for relocations than living through them myself.
__________________
FIRE Class of 2018 @ 61

Old men and women sit in the shade of trees they planted long ago
SumDay is offline   Reply With Quote
Old 08-24-2020, 08:44 AM   #25
Thinks s/he gets paid by the post
 
Join Date: Apr 2015
Posts: 2,333
So happy for you!
I was thinking "house swap" also, as I was reading your story.
__________________
You are no longer in a savings mode.
You are now in a slow spend down mode.
pacergal is offline   Reply With Quote
I'm poor
Old 08-24-2020, 08:49 AM   #26
Thinks s/he gets paid by the post
Markola's Avatar
 
Join Date: Nov 2013
Location: Twin Cities
Posts: 2,135
I'm poor

I liked the part about waiting until the particular neighborhood “moved you.” Congrats! Also, your kind of story is why I tend to be in the camp that includes home equity in net worth calculations. There is a lot of potential happiness utility in that asset, even though it’s not super-liquid.
Markola is offline   Reply With Quote
Old 08-24-2020, 10:47 AM   #27
Thinks s/he gets paid by the post
ExFlyBoy5's Avatar
 
Join Date: May 2013
Location: Country Living
Posts: 4,804
Congrats! So glad to hear this! I do hope it's a fairly new house since you are waiving inspections. And being a cash buyer...it sure makes things easier to negotiate!
__________________
Retired in 2014 at the Ripe Age of 40
ExFlyBoy5 is offline   Reply With Quote
Old 08-24-2020, 11:40 AM   #28
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 3,209
Congratulations! Good luck.
You write very well & I always enjoy reading your posts.
walkinwood is offline   Reply With Quote
Old 08-24-2020, 12:09 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 28,784
Quote:
Originally Posted by Scrapr View Post
because I bought a new (to me) house Friday...
Congrats. You did all the preliminary work to identify your needs. And if you find something that works for you, you don't want to haggle for the last $10K and risk not getting it.

About the housing market, it is indeed hot. A couple of houses on my street went on the market a couple of months ago, and they were sold in 1 week or less.

I do not know if the sellers got the offer they wanted, but one of the houses got sold so quick the realtor had not had a chance to put up the sign in the front yard. In fact, we only learned the house was on sale because we happened to see the realtor taking photos of the house when we were on our daily walk. Then, saw a moving van shortly after that.
__________________
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is online now   Reply With Quote
Old 08-24-2020, 01:24 PM   #30
Thinks s/he gets paid by the post
Scrapr's Avatar
 
Join Date: May 2005
Location: Portland
Posts: 1,455
Quote:
Originally Posted by ExFlyBoy5 View Post
Congrats! So glad to hear this! I do hope it's a fairly new house since you are waiving inspections. And being a cash buyer...it sure makes things easier to negotiate!
The home is 13 years old. Our company has worked for the builder for over 25 years. (won't do squat for a warranty repair though....I will give them a hard time though) This builder built the first 5 or 6 phases. In this development they are the preferred homes. The master developer brought in the National builders afterward & it shows. Our company won't work for them & I won't live in one of their homes.

If something shows up I have enough contacts to get the work done at non retail pricing. At some point I think I will change out the fiberglass shower for a tile shower. I will find a slow time in the market to get that done. The seller will still have the standard RE disclosure to do. So I will look at that closely

I think being a cash buyer swung the deal to me. And saved $25k too
Scrapr is offline   Reply With Quote
Old 08-24-2020, 01:51 PM   #31
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 341
Congrats !! wishing you happiness in your newer house
rkser is offline   Reply With Quote
Old 08-24-2020, 02:55 PM   #32
Thinks s/he gets paid by the post
HI Bill's Avatar
 
Join Date: Dec 2017
Posts: 2,177
Congrats! Hope you find the perfect puppy to match the home! We're going through this right now...liquidating $500K in invested assets for a downpayment, to be partially replaced when we sell the current home. It's disconcerting, to say the least, especially when you've always been in accumulation mode.
__________________
Balance in everything.
HI Bill is offline   Reply With Quote
Old 08-24-2020, 04:34 PM   #33
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Posts: 1,380
Quote:
Originally Posted by Scrapr View Post
I transferred the money from Vanguard to my checking account this morning. And watched my total funds go way down. Poor me.
Congrats on your (future) new home.

Not many folks manage their personal finances as if they were running a business, but for those that do, buying a house merely moves money from one asset bucket to another. For example, the basis (not estimated market value) of my house appears on the socca balance sheet.

Being 'house poor' is a well-known phenomenon, and may or may not apply in your case. A few decades ago when I bought my first house, the standard advice for first-time buyers was, "Buy more house than you can afford." The expectation was that salary & benefits would grow over time, making the house more affordable. I ignored that advice back then with good results.

P.S. The woman who I was dating back then was also the loan officer who originated the $100k mortgage on my first house. She commented that my loan approval was a "no brainer." Note to others contemplating this strategy for getting a loan approved: don't date your loan officer.
socca is offline   Reply With Quote
Old 08-25-2020, 06:36 AM   #34
Recycles dryer sheets
fancy free's Avatar
 
Join Date: May 2010
Posts: 83
congratulations!
__________________
And this, our life, exempt from public haunt, finds tongues in trees, books in the running brooks, sermons in stones, and good in everything. — Shakespeare

--

retired mid-2000s age 42
fancy free is offline   Reply With Quote
Old 08-25-2020, 06:40 AM   #35
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ivinsfan's Avatar
 
Join Date: Feb 2007
Posts: 6,944
Wishing you many happy days in your new home.....
ivinsfan is offline   Reply With Quote
Old 08-25-2020, 07:30 AM   #36
Thinks s/he gets paid by the post
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 2,958
On the plus side, being temporarially poor is a great excuse to make a pot of beans and pork scrap.
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
GravitySucks is offline   Reply With Quote
Old 08-25-2020, 09:51 AM   #37
Thinks s/he gets paid by the post
Scrapr's Avatar
 
Join Date: May 2005
Location: Portland
Posts: 1,455
Quote:
Originally Posted by GravitySucks View Post
On the plus side, being temporarially poor is a great excuse to make a pot of beans and pork scrap.
cue the 4 Yorkshire men

https://youtu.be/VKHFZBUTA4k?t=22

We were poor but we were 'appy...because we were poor

You had a 'ouse? We lived in 1 room...26 of us
Scrapr is offline   Reply With Quote
Old 08-25-2020, 12:10 PM   #38
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: Huntsville, AL/Helen, GA
Posts: 4,788
Sounds great. Sometimes things happen because they're just meant to be. This may be one of those situations.
Bamaman is offline   Reply With Quote
Old 08-26-2020, 10:11 AM   #39
Dryer sheet wannabe
 
Join Date: Jun 2019
Posts: 17
CONGRATULATIONS! I love it when a plan comes together - enjoy your new place ~ life
Freedom2021 is offline   Reply With Quote
Old 08-26-2020, 11:34 AM   #40
Recycles dryer sheets
Eucerin's Avatar
 
Join Date: Oct 2018
Posts: 140
It's hard to get everything on the list but I think you got most and major items on the list, well done!!
Congrats! and enjoy the next stage of life!!
__________________
Retired at 52. Preferred AA 60/40
Eucerin is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Poor habits lead to poor future~an old concept mickeyd Other topics 0 05-29-2006 10:24 AM
Net Bank - Poor Customer Service Lancelot Other topics 7 09-22-2005 04:51 AM
Rich/Poor Gap laurence Other topics 8 06-15-2005 03:54 PM
Rich Dad Poor Dad series laurence Other topics 1 02-23-2005 07:21 PM
Poor Bill & Julie, @ age 60 w/$1M can't retire Telly Other topics 13 11-16-2003 05:31 AM

» Quick Links

 
All times are GMT -6. The time now is 12:55 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.