I may have to sell my B&Ws.....

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  • Race Car Driver
    Super Senior Member
    • Mar 2005
    • 1537

    I may have to sell my B&Ws.....

    With the sweet there comes the sour.
    I may have an opportunity to buy a rather large house (4000+ sq feet) on a rather large property(4 acres) for a great price. I am going to look at it tonight to see if its something I want to make an offer on.

    The catch, I want to keep the house I have now and rent it out.

    I would also want to come up with 20% down on the new place and in order to do so all the toys would have to go. All my motorcycles, boat, project car, car audio and home audio. :cry:

    And honostly, I think I would be most sad to sell the HT setup. Alot of my car parts are very rare, hard to come by and expensive stuff I have collected over the years. I have 5 grand worth of rare car audio sitting in the closet that would take YEARS if someone was lucky to find all of it in the condition its in. But these 5 speakers that I could buy used just about any day of the week I would be most sad to see go.

    Anyone else ever had to give up so much that they love for something that could be great?
    B&W
  • ssabripo
    Senior Member
    • Dec 2005
    • 336

    #2
    hey, at least you got a head start on the center channel sale
    My simple HT setup
    4π using LMS, anyone?

    Comment

    • btf1980
      Senior Member
      • Aug 2007
      • 704

      #3
      Originally posted by Race Car Driver
      Anyone else ever had to give up so much that they love for something
      Yes. I gave up a job, stability and friends for a woman. What did she give me in return for all my sacrifices? She thanked me by having an affair with one of my closest friends. :M
      A camera, passport, good music, good food and good company is all I need.

      Comment

      • dknightd
        Senior Member
        • Mar 2006
        • 621

        #4
        Lets see:
        Big house - no stereo
        Little house - nice stereo

        I think I'd take the little house. Do you really need or want 4000 sq ft?

        Comment

        • DM3000 Owner
          Senior Member
          • Jun 2006
          • 475

          #5
          I am now selling off my old cars that I lost interest in (and that means so much to me years ago). Things change.

          Will you make a good deal of money on the house and/or is it somewhere that you will live for a very long time? 4 acres sounds like you can build a nice shop.

          The only issue with the house is going to be utilities. They can be really high depending on where you live.

          Comment

          • cug
            Senior Member
            • Jan 2008
            • 286

            #6
            Giving up stuff? Tell me about it. We gave a lot of stuff away when we moved from Germany to Canada about a year ago. Not sure whether this was a good idea or not. Still evaluating.

            About a good decade ago, I sold a very nice stereo setup for financing my company. Bad idea. I wouldn't do it again.

            So, it all depends what you get when you give up stuff.

            Comment

            • RobP
              Ultra Senior Member
              • Nov 2004
              • 4747

              #7
              If a good investment opportunity came along and it meant selling my gear, I would do it in a heartbeat.
              Robert P. 8)

              AKA "Soundgravy"

              Comment

              • Blindamood
                Senior Member
                • Sep 2003
                • 899

                #8
                My wife and I are currently downsizing to move to Florida -- from home to condo living. I'm trying not to give up my system, but to reconfigure it a bit. Traded my RMB-1075 for the much smaller RMB-1085; traded my Onkyo DV-SP1000 for the Oppo DV-980H; traded my B&W CDM 9NTs for Epos ELS-3s; hoping to sell my B&W ASW-850 and go full range for time being, maybe pick up a PV1 at some point. Will no longer have a dedicated room with theater chairs, but will integrate my system into the main living area. Worth the 'sacrifices' in the long run.
                Brad

                Comment

                • RebelMan
                  Ultra Senior Member
                  • Mar 2005
                  • 3139

                  #9
                  Danger, Will Robinson, Danger!

                  Consider ALL of your options VERY carefully!!! With a larger property comes more responsibility, more upkeep, more furnishings, and more expense. I guarantee it won't be long before your passions come back to haunt you. I can't begin to tell you how much pestering I had to endure from my wife wanting the "bigger place". It took a couple years to convince her we made the right decision not to live beyond our means even though the decision came with a few compromises. Now after the housing crisis were still secure in our home whereas many others that went over the top are not including some close friends. We have a modest home but we are happy and it doesn't look like an oversized empty closet!
                  "Dream as if you'll live forever. Live as if you'll die today."

                  Comment

                  • sc2
                    Member
                    • Feb 2008
                    • 65

                    #10
                    Dave Ramsey would say... "what are you nuts!!"

                    If you must sell everything you own to live beyond your means...

                    exactly what pleasures will you have in your life?

                    Steve
                    Steve

                    Comment

                    • DM3000 Owner
                      Senior Member
                      • Jun 2006
                      • 475

                      #11
                      Originally posted by sc2
                      Dave Ramsey would say... "what are you nuts!!"

                      If you must sell everything you own to live beyond your means...

                      exactly what pleasures will you have in your life?

                      Steve
                      Who said he is trying to live beyond his means? He wants to upsize his home and keep his existing home as a rental, hence he needs cash for a down payment.

                      Comment

                      • scanido
                        Senior Member
                        • Apr 2006
                        • 548

                        #12
                        Originally posted by DM3000 Owner
                        Who said he is trying to live beyond his means? He wants to upsize his home and keep his existing home as a rental, hence he needs cash for a down payment.
                        If one needs to sell his audio system to come up with a house down payment, I would hope he is not living beyond his means!

                        It's all about balance. No sense in having a huge house and not having other "toys" to enjoy with the large home.

                        Comment

                        • george_k
                          Senior Member
                          • Jan 2004
                          • 342

                          #13
                          If a good investment opportunity came along and it meant selling my gear, I would do it in a heartbeat.
                          Precisely, a portion of any excess return could eventually be dumped back into purchasing a better system. There will always be an itch to upgrade and starting from nothing but with a higher budget a few years from now opens up a lot more options.

                          Another option would be to downgrade to a simple 2ch setup that will still allow you to enjoy your music and will help you cope with the wait.

                          Comment

                          • Race Car Driver
                            Super Senior Member
                            • Mar 2005
                            • 1537

                            #14
                            Originally posted by sc2
                            Dave Ramsey would say... "what are you nuts!!"

                            If you must sell everything you own to live beyond your means...

                            exactly what pleasures will you have in your life?

                            Steve
                            I could put 0% down rather easily (and pay PMI) which I consider a waste.

                            I could also sell my current house, keep my toys and put 20% down on this place (something I dont want to do)

                            I could keep my place and pleasures now and just live life. (that would be fine)

                            Or i have an opportunity to get a place at 2-300,000 below potential value by giving up my hobbies I dont need in place of a few years of sweat equity, and have my current place half paid for by someone else in 8 years.


                            This risk, hard work and heart break are there. But so is the potential.

                            As I looked at the place tonight, I found the agent is the owner, and its going back to the bank in 3 weeks. She mentioned the opportunity is there to get it for less than she owes, she already considers it a loss if it goes to the bank or I get it for less.

                            Its a damn lot of work, and i am willing to give up my pleasures if the bank is willing to let it go for what I consider cheap.

                            Guess we will see how this pans out.
                            B&W

                            Comment

                            • RobP
                              Ultra Senior Member
                              • Nov 2004
                              • 4747

                              #15
                              Good luck Chris,

                              It may seem that you will be stepping back for now by giving up your audio system and toys, but if you do your homework, keep your sights set on what you want to accomplish, you will reap the benefits in the long run. Success takes sacrifice in one way or another.
                              Robert P. 8)

                              AKA "Soundgravy"

                              Comment

                              • joetama
                                Senior Member
                                • May 2006
                                • 786

                                #16
                                I am of the opinion that there is no point to a nice place if you don't enjoy the things that are in it.

                                Personally I wouldn't sell and just stick to where I was. But, each person has their own priorities.

                                Anyway, 4,000 SQFT is rather large.
                                -Joe

                                Comment

                                • RNKC
                                  Senior Member
                                  • Jun 2005
                                  • 197

                                  #17
                                  Sounds like you're in a position to benefit from this sub-prime mess you Americans have created. Good for you, bad for someone else I guess.

                                  You're saying the house is 200 - 300K below potential value. I'd challenge you on that. How quickly will someone come along and buy your new (big) house for 200K - 300K more than what you paid? Will this profitable sale happen next month? Next year? 5 years from now?

                                  In the meantime, you'll be living in a big house dreaming of that stereo system you once had.


                                  As an aside - Dad still mentions from time to time the system he had when he lived in England 30+ years ago. He had to sell when we moved to Canada. Clearly he still misses that system which is kind of odd considering his current system (centred on 801 and Mark Levinson gear) kicks ass in any measurable way compared to that old system. Just goes to show you that some systems really have a way of working their way into your heart.

                                  Comment

                                  • beden1
                                    Super Senior Member
                                    • Oct 2006
                                    • 1676

                                    #18
                                    If you need to sell personal belongings in order to buy another house, then I would suggest that you can't afford the second home. Larger homes take exponentially greater sums of money to carry through the initial purchase, and subsequent continuing expenditures. My wife and I have been fortunate to accumulate enough wealth to now own two homes of 3,400 square feet, and 5,800 square feet. Our newer and larger homes' carry charges are nearly triple those of our original smaller primary residence (with no mortgages).

                                    Unless you are going to put "under construction" signs up in the entranceways of your rooms, they will need to be filled with furniture and window treatments, etc. Taxes, water, electric, insurance, gas and etc., etc. . . ., are always higher than you expect. Then, maintenence costs for replacing A/C units, fixing roofs, etc., always seem to crop up just when you think you are getting a reprieve from having to spend more money. And, include all of these items, plus the fact that you will now have two homes to maintain, even IF you can get your other house rented, and keep it rented to those who will continue to pay the rent.

                                    But probably most important in today's marketplace however, is the real estate you are looking to buy today may not be such a bargain in 6 months (nobody knows how low values will dip, or for how long), and if you become cash strapped, neither of your homes will be liquid in order to free up needed cash. And, don't count on the lenders for a home equity loan, because they are no longer lending cash to anyone who actually needs the cash.

                                    Think about it!

                                    Comment

                                    • Miroku
                                      Member
                                      • Jul 2004
                                      • 79

                                      #19
                                      I think you should stay where you're at! :T

                                      Comment

                                      • SPACEMANRICK
                                        Senior Member
                                        • May 2005
                                        • 200

                                        #20
                                        We moved to a much larger 4500 square foot house 18 months ago from our 2000 square foot townhouse. The ONLY reason we moved to the larger house was for our 2 kids...........our new house is 1/2 block from the school, has a big yard for them to play in, separate bedrooms for each girl, is closer to friends etc.

                                        For all practical purposes, the four of us use at the most about 3000 square feet so 4000 square feet is definately overkill for 4 people. I think it depends on how much room you have now in your existing house and if you have a growing family. If there are only 2 of you and no children yet (or planned) why not enjoy the great gear and toys you have now.

                                        Coming from a conservative Canadian, this may be contrary to the American way of thinking, but why not just pay off your first house and not stretch yourself too thin? 20% down on a house after selling your existing house still seems like a small downpayment to put on the new house. As others have said, with the bigger house comes much bigger maintenance and utilities..........I just spent $30,000 on a new roof a few months ago :M .......that could have bought me some nice 802D's and a nice trip for the family.

                                        Comment

                                        • ShadowZA
                                          Super Senior Member
                                          • Jan 2006
                                          • 1098

                                          #21
                                          Here in South Africa taking a decision like this would be different. Property here is a real investment. Even during tough financial times, property market values have continued to rise meaing that if you invested in property, the capital base of your wealth would simply not let you down. Reasons for this include space shortages, demand exceeding supply and so forth.

                                          I am of the opinion that it is highly detrimental to your personal wealth situation to live beyond your means except if that which you are investing in has a large potential of increasing the capital base of your wealth. Of course a high return is associated with high risk and this should be evaluated carefully.

                                          I would suggest that you analyse the growth in property, similar to what you have been offered, over the last 30 years or so and try to determine a trend. Also bear in mind that if you are offered something like this at say a "great price" then it is likely that such "great price" is actually its true worth now or even MORE than its true worth. Such is the "sales and marketing mechanism" beast.

                                          Also bear in mind that a larger property demands much larger continuous expenditures (utilities, maintenance, insurance, bond interest, etc).

                                          I would only be tempted to go for something like this if I was fairly sure that the capital appreciation of such property would rise sufficiently over time to enable my own personal wealth capital to increase taking into account ALL my expenditures (existing + those of new property).

                                          Good luck!

                                          Comment

                                          • P-Dub
                                            Office Moderator
                                            • Aug 2000
                                            • 6766

                                            #22
                                            Well to the original topic. To sacrifice for something better. I would say yes. I have done that in my life. Bought my first place with my wife and when I think back to how much we were making it was a real stretch. We put just over 5% down, ate rice and noodles for a couple of years, plus I was taking classes at night. But it worked out.

                                            We quickly ran out of livable space, it was a one bed and den, and at the time could not sell it (leaky condo spillover, we were fine just others were not)so we rented it out, had a great tenant. Moved into my in-laws basement, which was big, and rented there for about a year. Eventually we sold our condo as we were in a negative cash flow situation, plus I really wasn’t making that much yet and our tenant gave us notice. That was tough to do as it was in a great unit in a great location. (Spacemanrick may know, it was in Kits just off 12th and Arbutus!) But feeding it $$$ every month was not doing the budget any good. Luckily we broke even on the sale, and since we had an accelerated payment schedule on the mortgage actually got some cash back.

                                            We’ve pretty much driven used cars most our lives, with one exception in the past. Only recently have we decided to buy what we want new. Had cash available both times to buy outright, but got good financing deals, so financed it and am making money on my money.

                                            Now I am in a very good financial position. I scrimped and saved, had to sell my first home and I do still think about it almost daily, I pass by it on my way to work. But now I own other properties that are positive cash flowing. I’ve wanted a new car for ages, the make and model changes ever few years, but now I get to pickup my car this weekend. So my sacrifices have been worth it.

                                            Not really knowing your financial situation it would be hard to make any financial comment but generalities. But I would move cautiously into another house with acreage. Somebody else has covered the associated costs.

                                            ...and have my current place half paid for by someone else in 8 years.
                                            Based on the above are you saying that you would be subsidising half the payments to have your original home paid for in 8 years? Basically I am asking are you going to be in a a positive cash flow situation if you rented out?

                                            I know this is simplistic, but I want to be crystal clear:

                                            Rent = $100
                                            Mortgage = $50
                                            Postive cash flow = $50

                                            Rent $50
                                            Mortgage $100
                                            Negative cash flow= $50 <- this was me 13 years ago, I learned my lesson.


                                            How much will your insurance go up now that your home is a rental? Do you have experience in screening potential tenants? I have learned even with good screening, there is always one that will slip through. It is far better to lose a month of rent than to rent it to a bad tennant. Do you know what the eviction procedures are for your State/County/City? A house is a much larger asset to rent out and sometimes you have mulitple tennants without your knowledge.


                                            Or i have an opportunity to get a place at 2-300,000 below potential value by giving up my hobbies I dont need in place of a few years of sweat equity,
                                            This other property you are looking at, if the owner is the realtor, I’m guessing that they are hurting real bad! Depending on your market, there can be further decreases in market value. With the real estate trend heading downwards, and you put 20% down, finance the 80%. If the market drops another 20% in your area, then you are now 100% financed, can the lender ask you to increase your equity stake? I found a clause in my Canadian mortgage documents that says they can, I’m not sure how it works in the US.

                                            Proceed with caution. I think there will be further declines in housing prices. There are a few pockets that will drop less, but as you indicated this is already down $200k-$300k, who's to say it won't drop more? Everybody is trying to call the bottom. Me, I'm just waiting and watching.
                                            Paul

                                            There are three kinds of people in this world; those that can count, and those that can't.

                                            Comment

                                            • dknightd
                                              Senior Member
                                              • Mar 2006
                                              • 621

                                              #23
                                              Originally posted by Race Car Driver

                                              Anyone else ever had to give up so much that they love for something that could be great?
                                              When I moved cross country to go to graduate school. I sold or gave away everything that would not fit in a VW. Then a few weeks before I left I decided to invite my girlfriend (now wife) to come along, so added a small trailer. Basically all we took were records, stereo, books, cloths, and camping gear.
                                              It took us awhile to recover from that, but it worked out in the end. Things were simpler back then.

                                              Comment

                                              • Briz vegas
                                                Super Senior Member
                                                • Mar 2005
                                                • 1199

                                                #24
                                                hmm ..... just get an ipod and a push bike :W

                                                - still listen to your favourite tunes - tick
                                                - still enjoy two wheels and can get about - tick
                                                - fit and healthy - tick

                                                Hope it works out whichever way you decide to go :T
                                                Mac 8gb SSD Audirvana ->Weiss INT202 firewire interface ->Naim DAC & XPS2 DR->Conrad Johnson CT5 & LP70S-> Vivid B1s. Nordost Valhalla cables & resonance management. (Still waiting for Paul Hynes PS:M)
                                                Siamese :evil: :twisted:

                                                Comment

                                                • dknightd
                                                  Senior Member
                                                  • Mar 2006
                                                  • 621

                                                  #25
                                                  Do you like the place? Is it what you want? Are you willing to sacrifice to get it?

                                                  If so, since the agent is also the owner, I'd lowball them so that I could at least keep a decent two channel setup. The owner probably wants/needs to get out from under it.
                                                  They don't want to default, they are afraid they will loose even more, they
                                                  might be desperate enough to let you keep your tunes and get the house. . .
                                                  Of course if you low ball them you risk not getting it.

                                                  It sounds risky to me, but sometimes taking an educated risk is worth it.
                                                  Sometimes they can pay off really well.
                                                  I don't think I'd risk a home purchase I could not afford right now, but you might be more daring.

                                                  Reading between the lines it sounds like this house needs work. Do you have
                                                  the money and time to do that? You do not want to end up like the current owner and be forced to sell before you can complete that work.

                                                  good luck with whatever you decide.

                                                  Comment

                                                  • Race Car Driver
                                                    Super Senior Member
                                                    • Mar 2005
                                                    • 1537

                                                    #26
                                                    I had a whole reply last night but it ended up being a ramble.

                                                    Basicly it brakes down like this. If I cant get the place for a "steal" I dont want it. Period. I dont need it, but 6 bedrooms on 4+ acres over looking the mississippi river is somewhat desireable to me. All at a possible price of under 200k. Or maybe not. Guess we will see how this pans out.

                                                    I appreciate all the comments, concerns, opinions.
                                                    B&W

                                                    Comment

                                                    • DM3000 Owner
                                                      Senior Member
                                                      • Jun 2006
                                                      • 475

                                                      #27
                                                      If you want the house and it makes sense, deal with the bank if it is about to go back to them. Research teh local REO's and see what banks are selling them for.

                                                      It is going to cost the bank quite a bit to take possession and sell the house. They may be willing to sell to you for maybe an additonal $50,000 or so off of the price. This is comming from someone in Las Vegas so things may be different where you are.

                                                      Comment

                                                      • scanido
                                                        Senior Member
                                                        • Apr 2006
                                                        • 548

                                                        #28
                                                        Originally posted by Race Car Driver
                                                        If I cant get the place for a "steal" I dont want it. Period. I dont need it, but 6 bedrooms on 4+ acres over looking the mississippi river is somewhat desireable to me. All at a possible price of under 200k.
                                                        $200K for a 4000SqFt home on 4 acres!!! :E Up here in T.O you'd be lucky to get a one bedroom + den condo for that amount!

                                                        This home must be in the middle of nowhere or the subprime mess down south must really be in shambles (or both)!

                                                        I would jump on that deal ASAP!

                                                        Comment

                                                        • P-Dub
                                                          Office Moderator
                                                          • Aug 2000
                                                          • 6766

                                                          #29
                                                          Originally posted by scanido
                                                          $200K for a 4000SqFt home on 4 acres!!! :E Up here in T.O you'd be lucky to get a one bedroom + den condo for that amount!

                                                          This home must be in the middle of nowhere or the subprime mess down south must really be in shambles (or both)!

                                                          I would jump on that deal ASAP!
                                                          I thought prices were higher in TO. You'd be lucky to get a bachelors in Vancouver for $200k.

                                                          I agree with DM3000. See what the local market is doing.

                                                          Sounds like you have a good plan.
                                                          Paul

                                                          There are three kinds of people in this world; those that can count, and those that can't.

                                                          Comment

                                                          • Hdale85
                                                            Moderator Emeritus
                                                            • Jan 2006
                                                            • 16075

                                                            #30
                                                            That sounds like a TON of house for the money. I'd be seriously looking into it as well. And if the price is as sweet as you say could be an excellent investment. Live in it until the market regains it self and what not and turn a nice profit in a few years.

                                                            Comment

                                                            • dmccombs
                                                              Senior Member
                                                              • Sep 2006
                                                              • 306

                                                              #31
                                                              Originally posted by Race Car Driver
                                                              I had a whole reply last night but it ended up being a ramble.

                                                              Basicly it brakes down like this. If I cant get the place for a "steal" I dont want it. Period. I dont need it, but 6 bedrooms on 4+ acres over looking the mississippi river is somewhat desireable to me. All at a possible price of under 200k. Or maybe not. Guess we will see how this pans out.

                                                              I appreciate all the comments, concerns, opinions.
                                                              Christopher,

                                                              I see why you are doing this. If you get the great price then the bottom line is your selling the toys to make a solid investment. Later you can rebuy the toys and still have lots of $$$ in the bank.

                                                              Its a smart financial strategy if you can live without the toys a while. Having your money in investments is more lucrative than having it in toys.

                                                              Housing generally goes up over time.
                                                              Electronics generally go down over time.
                                                              It sound like your cash flow will stay the same so there is no new risk.

                                                              Good luck with the deal.

                                                              Darrell

                                                              Comment

                                                              • sg2
                                                                Member
                                                                • Sep 2006
                                                                • 56

                                                                #32
                                                                yo,

                                                                For what its worth, here in Western Europe, for $200k you get nothing at all

                                                                A house like the one youre talking about is more $2m+

                                                                Regards,
                                                                --
                                                                Stéphane
                                                                Regards,
                                                                --
                                                                Stéphane

                                                                Comment

                                                                • Race Car Driver
                                                                  Super Senior Member
                                                                  • Mar 2005
                                                                  • 1537

                                                                  #33
                                                                  Originally posted by dmccombs
                                                                  Christopher,

                                                                  I see why you are doing this. If you get the great price then the bottom line is your selling the toys to make a solid investment. Later you can rebuy the toys and still have lots of $$$ in the bank.
                                                                  Its a smart financial strategy if you can live without the toys a while. Having your money in investments is more lucrative than having it in toys.

                                                                  Housing generally goes up over time.
                                                                  Electronics generally go down over time.
                                                                  It sound like your cash flow will stay the same so there is no new risk.

                                                                  Good luck with the deal.

                                                                  Darrell
                                                                  That is exactly my thoughts to all of this, and was part of that ramble I decided to not reply with. :T

                                                                  Guess we will see, I am going back again tonight with the rents and a good friend of the family who is "in thebiz" to get some more opinions.
                                                                  B&W

                                                                  Comment

                                                                  • RebelMan
                                                                    Ultra Senior Member
                                                                    • Mar 2005
                                                                    • 3139

                                                                    #34
                                                                    I'm going to be the voice of reason for you Chris. If you can't pickup the new place and simultaneously keep what you have then don't do it. I know it's really not what you want to hear but clearly your passion for enjoying life to it's fullest is just to great. I just can't see your lifestyle making the drastic change that would be required. It may later result in some regret. Yeah, the potential could be great but is your patience equally commensurate? I don't want to come across like a downer but if your doing it for the money then you are doing it for all the wrong reasons. You should run a business for the money but your life for the thrill. What will this be for, business or pleasure?
                                                                    "Dream as if you'll live forever. Live as if you'll die today."

                                                                    Comment

                                                                    • fauts
                                                                      Junior Member
                                                                      • Mar 2008
                                                                      • 2

                                                                      #35
                                                                      Looking for a Black Matrix HTM center speaker to match my 801 s3. Any body looking to upgrade?

                                                                      Comment

                                                                      • Race Car Driver
                                                                        Super Senior Member
                                                                        • Mar 2005
                                                                        • 1537

                                                                        #36
                                                                        Originally posted by RebelMan
                                                                        I'm going to be the voice of reason for you Chris. If you can't pickup the new place and simultaneously keep what you have then don't do it. I know it's really not what you want to hear but clearly your passion for enjoying life to it's fullest is just to great. I just can't see your lifestyle making the drastic change that would be required. It may later result in some regret. Yeah, the potential could be great but is your patience equally commensurate? I don't want to come across like a downer but if your doing it for the money then you are doing it for all the wrong reasons. You should run a business for the money but your life for the thrill. What will this be for, business or pleasure?
                                                                        No worries about it, I have that same voice inside my head. One way or another I will have a second property within the next 2 years and the place Im at is set up to be paid off in 15. I dont have much, but i have a lot of a little and want more. I guess thats all I am looking at it as, and what I have always done. Now is as good of time as any to get in on this "recession" that is among us, and I want part of that.

                                                                        Alot of what i have left is part of "me", part of me that could be replaced if I sold it, although rather difficult to do so. I would like to have a home paid for before I am 40 and use that for an investment to pay for what I do after I am 40, and if that means giving up some of what I love for 10 years.. I might be willing to do so.

                                                                        Anyways, I could continue to ramble, but as a conclusion to THIS house I may pass, I think the opportunity is there, but the work may be more than I would like to put in. However the doors not shut, I decided to sell about a third of what I have sitting in the garage to have some cashflow handy, I want a rental property one way or another. At the moment the B&Ws are safe! 8)
                                                                        B&W

                                                                        Comment

                                                                        • JürgenW
                                                                          Senior Member
                                                                          • Jul 2004
                                                                          • 156

                                                                          #37
                                                                          If you don't get Matrix HTM: the HTM 1 sounds very well with the S3.

                                                                          Sorry wrong place, would like to delete this, but can't.

                                                                          Comment

                                                                          • Briz vegas
                                                                            Super Senior Member
                                                                            • Mar 2005
                                                                            • 1199

                                                                            #38
                                                                            Gees, at that price I will sell my place (its very modest believe me) and get 2 of those. Back in 2000 when we had the olympics in Aus "all" the Americans were grinning about our "1950's prices". Now you can pay 1.5 million for a "Queenslander" 5km from the CBD and our dollars are almost at parity.

                                                                            On the river sounds great so long as it ain't on the flood plain.
                                                                            Mac 8gb SSD Audirvana ->Weiss INT202 firewire interface ->Naim DAC & XPS2 DR->Conrad Johnson CT5 & LP70S-> Vivid B1s. Nordost Valhalla cables & resonance management. (Still waiting for Paul Hynes PS:M)
                                                                            Siamese :evil: :twisted:

                                                                            Comment

                                                                            • PewterTA
                                                                              Moderator
                                                                              • Nov 2004
                                                                              • 2901

                                                                              #39
                                                                              $200K for a 4000SqFt home on 4 acres.

                                                                              You can find that in Pittsburgh (well outlying areas, within 30-45 minutes of pittsburgh) all over the place.

                                                                              I almost bought a 3200SqFt home for 170K with 3acres, but decided I didn't want to push it.

                                                                              But I decided my hobbies (car, HT, music, etc) is more important than buying a house that big.

                                                                              I'm getting a nice ~2000SqFt home for in the $120-140Ks which will leave me some money to play around with (considering I'm paying for it all myself). :T

                                                                              It's all perspective as to what you think will make you happiest. I think too many people worry about "showing off" to others what they have. I'm just happy to be living debt free (until the house of course, but even that is WELL within my means).

                                                                              You just need to do what you think will (in the long run) make your life better off.
                                                                              Digital Audio makes me Happy.
                                                                              -Dan

                                                                              Comment

                                                                              • KyaDawn
                                                                                Senior Member
                                                                                • Mar 2008
                                                                                • 268

                                                                                #40
                                                                                Is this house a fix-it-upper? From the size of the house and land and the price, it sounds like it might be. If so, you'll probably have a lot of initial costs even after the 20% deposit. As others have mentioned, couple that with the maintenance costs of a larger home and potentially you got yourself a money pit.

                                                                                How old is this house? Have you inspected carefully the condition of everything in the house? Roof leaks, internal plumbing problems, decay, faulty wiring, these could all be things that you miss on just one or two visits to the house. You may get the house for cheap, but fixing it up to a livable condition can easily cost just as much or more.

                                                                                Like others have said, at the same time, you won't have your stereo to comfort you should things head south, as well as all your other toys like boat, bike, project car, etc.

                                                                                Get the house if you've done all the due diligence and it's in good condition and you think it's a good investment, and you really want it, enough to live with a boombox for a while. But if this is something that "just came up" or rushed, then I would suggest taking a little more time to check on what you're buying and figuring out what you're getting yourself into.

                                                                                Comment

                                                                                • Race Car Driver
                                                                                  Super Senior Member
                                                                                  • Mar 2005
                                                                                  • 1537

                                                                                  #41
                                                                                  Originally posted by KyaDawn
                                                                                  Is this house a fix-it-upper? From the size of the house and land and the price, it sounds like it might be. If so, you'll probably have a lot of initial costs even after the 20% deposit. As others have mentioned, couple that with the maintenance costs of a larger home and potentially you got yourself a money pit.

                                                                                  How old is this house? Have you inspected carefully the condition of everything in the house? Roof leaks, internal plumbing problems, decay, faulty wiring, these could all be things that you miss on just one or two visits to the house. You may get the house for cheap, but fixing it up to a livable condition can easily cost just as much or more.

                                                                                  Like others have said, at the same time, you won't have your stereo to comfort you should things head south, as well as all your other toys like boat, bike, project car, etc.

                                                                                  Get the house if you've done all the due diligence and it's in good condition and you think it's a good investment, and you really want it, enough to live with a boombox for a while. But if this is something that "just came up" or rushed, then I would suggest taking a little more time to check on what you're buying and figuring out what you're getting yourself into.
                                                                                  Yea it's a fixer upper, of course it is. It was built in 79. I looked it over 2 times inside and walked around the outside on 4 seperate ocassions.

                                                                                  Its something that is still being looked into. As far as work$$ the full plan would be to gut the basement, new floor plan, new furnace, new ac and duct work, probably new wiring and plumbing, and re doo all the rooms upstairs. Totally needed? Not really but it deffinatly wouldnt hurt and I wouldnt mind turning into what I see as a home. I am trying to invision what $100k (70 home, 30 garage) would do to that house to see if it worth my time.

                                                                                  I dont want to rush anything, let alone something like this. However I have been looking for an investment property for a few months here and this one really caught my eye. Who knows, I may settle for a cheap town home to rent out that.
                                                                                  B&W

                                                                                  Comment

                                                                                  • keytrnr
                                                                                    Junior Member
                                                                                    • Jan 2008
                                                                                    • 27

                                                                                    #42
                                                                                    O my... All that house cleaning and no home theater R&R!

                                                                                    Comment

                                                                                    • BassThatHz
                                                                                      Senior Member
                                                                                      • Jul 2006
                                                                                      • 153

                                                                                      #43
                                                                                      I've lived in my share of large homes, the biggest one was a one level 9,000 sq ft house (made of rock and logs) on 80 arces.

                                                                                      It had 8 entrances, a shoe room, a man-sized fish pond, 6 bedrooms + a 30x25ft mst bed, 4 full bathrooms, two 40x40ft living rooms + one 20x20ft, 2 kitchens, a walk in pantry, 2 hot-water tank rooms, 1 laundry room, four 8ft fire places, three 80ft hallways, a pool table, a pool and an ice rink. Plus as an add on, a 1,000 sq ft 3 car garage and a wood working shop. All on a 300ft cliff over looking a valley with a river. Our nearest neighbour was 2km away, and after that it was many miles. Nearest "convenience" store was 30km away, the city was 90km.

                                                                                      So what was it like, it sucked, you spend most of the time vacuuming, mowing grass and driving. The house was an open design so we chopped down entire forests trying to heat/AC it. If you forget something on the other side of the house, you just doomed yourself to navigating 200ft of doorways, hallways and funiture. There were 8 rooms I never even really visited (could be space aliens living in there for all i know). In a 40x40ft living room, any tv less than 65" looks like an out of place IPod. One night we got bored enough to arrange one of the living rooms into a badminton court LOL.

                                                                                      Other than the pool and ice rink, the only fun part about it was throwing boulders off the cliff into a 5 second freefall. Anyway thats my 2cents on really big homes.

                                                                                      Comment

                                                                                      • Race Car Driver
                                                                                        Super Senior Member
                                                                                        • Mar 2005
                                                                                        • 1537

                                                                                        #44
                                                                                        Originally posted by BassThatHz
                                                                                        I've lived in my share of large homes, the biggest one was a one level 9,000 sq ft house (made of rock and logs) on 80 arces.

                                                                                        It had 8 entrances, a shoe room, a man-sized fish pond, 6 bedrooms + a 30x25ft mst bed, 4 full bathrooms, two 40x40ft living rooms + one 20x20ft, 2 kitchens, a walk in pantry, 2 hot-water tank rooms, 1 laundry room, four 8ft fire places, three 80ft hallways, a pool table, a pool and an ice rink. Plus as an add on, a 1,000 sq ft 3 car garage and a wood working shop. All on a 300ft cliff over looking a valley with a river. Our nearest neighbour was 2km away, and after that it was many miles. Nearest "convenience" store was 30km away, the city was 90km.

                                                                                        So what was it like, it sucked, you spend most of the time vacuuming, mowing grass and driving. The house was an open design so we chopped down entire forests trying to heat/AC it. If you forget something on the other side of the house, you just doomed yourself to navigating 200ft of doorways, hallways and funiture. There were 8 rooms I never even really visited (could be space aliens living in there for all i know). In a 40x40ft living room, any tv less than 65" looks like an out of place IPod. One night we got bored enough to arrange one of the living rooms into a badminton court LOL.

                                                                                        Other than the pool and ice rink, the only fun part about it was throwing boulders off the cliff into a 5 second freefall. Anyway thats my 2cents on really big homes.
                                                                                        :lol: Great story! Made me laugh.
                                                                                        B&W

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