this post was submitted on 15 Jan 2024
173 points (96.8% liked)
Asklemmy
43892 readers
865 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
In 2017 my landlord raised my rent from $1k to $1100 a month for the place I rented with my daughter because I finally broke down and got her a dog. I was annoyed because this wasn't in the lease but I was month to month by this time and figured I could probably get a house around me for the same cost and at least I'd be building equity. I closed in 2018 on a $120k fixer upper on 12 acres. I got a $30k rehab loan and my mortgage/insurance/property tax payment ended up being just over $1100. I spent 7 months in major renovations.
Fast forward to today, I have a 2.875% mortgage rate with just over $1000 a month all in payment (early COVID refi saved me about $100/month), my house was just appraised for $415k, and I was able to sell 5 acres of the land for a total of about $160k.
A free shelter dog ended up turning $150k into $575k. 10/10 would recommend.
I was gonna say buying a house too. Mortgage payments are 1/3 what my rent was, and rents have doubled since then.
I'm in the process of buying right now, and my mortgage is similar to my high rent and the overall cost of ownership is higher, but it'll be worth it just to get off of the uncertainty of ever increasing rent. At this point it feels like now or never with how batshit insane the housing market has become.
Life changing circumstances, but big props on you for having the confidence to go through with it! Life presented you with the opportunity and you seized it!
This is wholesome sorry. I am happy for you both anons and that you have doggo a great loving home <3