What do you all pay for rent/mortgage?

Discussion in 'Off-Topic' started by Chainblade, Feb 20, 2009.

  1. Chainblade

    Chainblade Junior Member

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    Obviously didn't areas are different prices but I'm just curious. For shitty reasons, I have to move out of my good deal. Currently, I have a 3-bedroom 1100 square foot manufactured house and pay $711 a month ($520 of it is land rent). But I have to leave so I'm looking for something else.

    what sucks is that places are just so friggen expensive. for the price I a paying for this 3-bedroom house, I can maybe get a 1 bedroom in a suburb outside of Seattle. If I want Seattle, I'll be lucky to get a studio for that price.

    Thank god i got a job and one that pays me $48k a year or I'd be REALLY screwed. I'm just tryin to decide where to live. I can afford Seattle but obviously a bigger portion of my paycheck would go towards rent. The thing that worries me is that I've only been at my job two weeks and with the economy like it is, no job is stable. If I lose the job and am living in Seattle, even unemployment wouldn't pay enough to make rent probably, let alone other bills. Hell, the only reason I made it on unemployment before is that I have a roommate that pays half of everything. If I have a studio or 1 bedroom that's obviously not a possibility.

    I'd really like to live in Seattle but I'm not sure if it's worth the risk. I mean, I am paying $126 a month to take the train from where I live now in Kent to Seattle so I'd not have to pay that but even so, Kent is still cheaper. Plus if I end up losing my job, Kent is a better location as it's halfway between Seattle and Tacoma (another "big" city) so I'd have a bigger range of job opportunities. If I just live in Seattle, I pretty much have to work in Seattle.

    Anywho, what would you all recommend? And how much do you all pay for your rent/mortgage? And some people say you should spend only a certain percentage of your income on rent. Do you believe that is right? I read that you should spend like 25% of your monthly income on all housing costs (including utilities). Hell, even with me making quite a bit more than I used to, there is no way that 25% of my income would pay for housing including utilties, even in the cheaper places.
  2. MSP

    MSP Haunting a dead forum...

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    You have to move? I'm guessing you never got that deal in writing... DOH! You've got to share the details.

    Anyway, I have a 3 bedroom, 3 bath, 1500ish sq ft house on 1/2 acre of land, in a nice subdivision in a great school district, and I pay about $1,100 a month. With the current housing market I could probably get a 4 bedroom, 3 bath, 2000ish sq ft house for about the same. :shock:
  3. Bear

    Bear Hoot!

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    My rent is $1100 a month split between me and my gf. On top of that, we have the cable/internet and electric. In total, it's about $650/month per.
  4. SoulAssassin

    SoulAssassin Car Ramrod

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    I pay $850 for the mortgage but I pay extra each month to get it down a little quicker. The g/f is moving in soon so I'll be able to put more on it each month.

    Nothing fancy, 3 bedroom 1500 sq ft house. I think utilities is roughly $400 for me since my only major expense is directv/energy.
  5. Chainblade

    Chainblade Junior Member

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    ok i'll share lol. I officially have owned the house since January (i writing, title in my name, etc). However, suddenly the land owners wanted me to do another background/credit check for some reason even though I've lived in the house for almost 3 years as a renter and passed the check before. So I'm like fine, so I do it and they say I failed the credit check. That makes no sense as my credit is a lot better than it was 3 years ago and I also make almost double the money now then I did 3 years ago. So of course, I'm like, wtf. Well the land owner claims they didn't do a credit check for me the first time, just a background check. I paid for a credit check though but of course he won't provid proof that I paid the extra amount for that, I have to provide it. It was over 3 years ago and I can't find the proof unless I know the exact amount of the check was writen for.

    So the land owner says that the only way I can stay is that I pay him a $4,000 deposit. Ya fucking right. I've paid on time for 3 years. $4,000 deposit is ridiculous. It's a god damn mobile home park for god sakes. But the land owners dont' like anyone under 30 years old. The manager makes up rules on the spot and makes up that you did something wrong. The manager has 3 restraining orders on her already. Hell, the manager has even walked into my house when I didn't answer the door in 5 seconds. Also, mind you, I haven't ever seen a contract for the land, nor signed one. My ex g/f did as she owned the house before me, but I never did. Oh and part of the condition if I paid the $4,000 deposit is that I would be on a strict leash and if I broke ONE rule, I'd be evicted, hence why he is asking for $4,000 (the cost of an eviction). I'm like, hell no, knowing how they operate, I'd pay $4,000 and they would make up something and get me evicted for free. I don't have $4,000 anyways so it's a moot point but ya. What I don't get is that they were told for WEEKS before hand that I would be buying this house and they said nothing. Then days after I officially own it, they pull this shit. If they didn't want me to live there, they should had just said so in the first place. Now I own a house that I am technically not allowed to live in and will probably have to sell it at a loss.

    So ya, they are obviously peaces of shit people. And ya, I will be fighting them in court if they try to evict me but at this point, it's just not worth the hassle of living in this place to have to deal with these people. I can't trust them and I'd always be in fear that they would try to be the most difficult they could be. I don't even like going home anymore because of it. It's just not worth living this way, no matter how much the savings is.
  6. MSP

    MSP Haunting a dead forum...

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    Yeah, just sit your ass right there. $4,000 is ridiculous, not to mention throwing you out would be tough if you weren't paying your rent. As long as you're doing that it'll be damn near impossible. And if they ever pull that shit of coming in your house again you should call the cops and go the retraining order route too. Document the hell out of what is happening too. Ask for things in writing, refuse to talk about it orally.
  7. Chainblade

    Chainblade Junior Member

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    ya I wouldn't think it would be that easy to evict me since I'm paying rent but it's still a worry. He claims that because I didn't pass his credit check, that I am illegally on his land. I see his point, though, in that if I didn't pass the credit check, I shouldn't had ever lived there in the first place. But I think he is just being an ass because I know they just pick and choose what they want to do. When my ex g/f moved in with her husband at the time, they had way way worse credit then me, made way less money a month, and her husband had things on his criminal record....all of which are supposed to make you fail the background check to live there.

    Like you said, I'll stay here but I still think I'm going to sell it if I can make my money back or make a profit. I don't know. Like I said, having to deal with them isn't worth it. I'll pay more somewhere else though. I just don't want to get into a situation where there is some loophole that he can evict me or force me to leave.
  8. MSP

    MSP Haunting a dead forum...

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    No, no, no. The burden is on him at this point. He should have never rented to you if he didn't like your credit issues, whether or not he processed the credit check isn't your problem at this stage. Just be firm - "If you have something to communicate to me it'll need to be in writing." The only thing you have to watch out for is him raising your rent to try to force you out. But even that has rules and limitations. Anyway, just document like crazy. If he insists on confronting you in person, document what he says and when, and if possible record the conversations. And I hate to say it, you may want to start looking at your options. Around here it costs about $2,500 to relocate a mobile home and make all the connections, etc. Plus you'd be facing a security deposit at the new place. He's probably banking on all this and trying to extort money from people. Fucker... :mad:
  9. Chainblade

    Chainblade Junior Member

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    I thought about moving it but it's a semi old mobile home (86 I believe) so I'm not so sure it would even make the move. Plus I've looked and there really isn't many vacants areas to move a mobile home to.

    He is a money grubbing bastard. $520 a month for the tiny lot in Kent is crazy. And he raises it $20 every year. It goes up to $540 in April...even though the land value has gone down and the economy sucks. Any more expensive and it would just be cheaper to live somewhere else.

    I know renting is throwing money away and I'd probably have up to $2k in deposits for it but I just don't know. I don't see the situation getting any better and like I said, I dont' want to live in constant fear of what they are going to try to do next.
  10. MSP

    MSP Haunting a dead forum...

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    Yeah, $520 is ridiculous too. My Mom pays something like $375 for hers. He's trying to squeeze you, and if he forces you out he knows you'll likely just abandon the house. Which he can then seize and sell to someone else. I never realized what a racket these mobile home parks were until my Mom moved to one. A small piece of land is the only way to go with these, but the problem (at least around here) is that the zoning pretty much keeps them out in the boonies, which drives up transportation costs and what-not.
  11. nidex

    nidex Hood Rich

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    Not to talk shit, but this sounds like your typical white trash shady landlord/owner whatever you want to call him. I'm confused as to the reason you'd want to live in a trailer in the first place, but if you surround yourself with these kind of people you're going to have this problem no matter where you go. Sounds to me like he's trying to just kick you out, he knows you don't have the money so he's trying to feed you a line of bullshit to get you to leave.

    If I was you, I'd say fuck it and move to Seattle or wherever else and just get an apartment. See if you can pawn the trailer off to somebody else, if the land owner lets you.
  12. jake

    jake Vagabond

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    I rent a house with 3 others. We play $500 each. I am currently in the process of buying a house for ~400k. My mortgage payments will be about $1500 a month.
  13. sims

    sims walls of text

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    I pay 470 bi-weekly accelerated, 1100 SF 3 bedroom home, with 2 schools and a university within walking distance and downtown is 5 minutes away. I have a variable open mortgage and with all the Gov rate cuts my rate is now at 2.5 %. 16 year amortization. I paid 176 in July, but it would go for closer to 200K+ now with some of the improvements I've done and the fact that our houses are still appreciating in value pretty quickly. My rents just sold there place for 54K more then they were told it was worth a year and a half ago and had 10 bids on it.

    Mortgage is only half the battle though, I then have (in winter) $350 hydro/electical bills, 110 for property tax, $85 for insurance, hydro $30, etc. I pay almost as much for all my house related bills as my mortgage costs, not counting bills like internet, cell etc.


    I don't know what the backwards ass laws are like in the states, but in Canada it would have been his responsibility to do a credit check when you became a tenant, if he didn't, that would not, and should not be your fault.

    you can't randomly evict someone who has always paid there bills on time on "bad credit", you can refuse someone off the bat because you don't know if they will pay or not, and there credit history points to no more so then other possible tenants, but once your there and have proven yourself because of his mistake, he would be SOL.

    as mentioned, anything he says, ask for it in writing, MSP is giving you some good advice and can be alot more helpful then I can since i'm not familure with your law's. In Canada its extremely hard to evict a paying tenant, regardless of the reason.
  14. nidex

    nidex Hood Rich

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    Backwards ass laws in the United States? Never!
  15. sims

    sims walls of text

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    what kind of amortization are you taking? what kind of rate are you looking at? don't make the mistake of taking anything longer then 25 years. you'll pay nearly 50% more interest on a 35 year mortgage then you will on a 25. a 40 year mortgage will be double what a 25 year mortgage is. the quicker you can pay it down the better, especially off the start when the vast majority of your payment goes to interest. do you have at least 20% as a down payment? I only had 15, but if you have 20% you'll avoid needing mortgage default insurance that will run you anywhere between 1.75-3% of the total value of the house. This insurance in no way protects you, it protects the bank in case you default.

    PM me if there's anything I can help you with mortgage wise.
  16. Chainblade

    Chainblade Junior Member

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    well, sure, I'd rather not live in a trailier but look at it this way. $711 a month for a 3 bedroom 1100 square foot "house" that I own so I can do whatever I want to it. plus i'm not throwing away money at rent (besides the land) so once I pay it off, then all I have is the land cost. plus since I have 3 bedrooms, I have a roommate in one of them and was going to get a 2nd one in one of the others so I was virtually not going to be paying anything.

    in the same town i live in (kent), $711 might get me a 1 bedroom, most likely just a studio. it would be rent and throwing it away. not to mention the deposits I'll have to have for an apartment up front. plus i can't have roommates if it's just a studio or 1 bedroom so I'm going to be paying the full amount myself. and i have cats so if I have an apartment, sure I can have cats but letting them outside usually isn't an option like it is when you own your own house.
  17. jake

    jake Vagabond

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    Sims, the mortgage I am looking at is with TD. It is a 5 year closed (can make additional payments of 100% with no penalty), 20 to 25 year amortization @ 3.8%. I have more than 20% saved for downpayment (100k I can put down with out completely liquidating my savings/investments). I currently pay $500 a month and put another $2000 into savings each month. So with a renter in the basement (and gf paying ~500 a month) I could make double payments pretty easy if I have no extra expenses that month, or atleast 150% payments.

    Sorry for hijacking the thread.

    Edit: This is the place I am looking at right now. Could probably get it for 360-370 in this market.
  18. Chainblade

    Chainblade Junior Member

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    damn jake, nicely done with the savings. i wish i could put that kind of cash away. what do you do for a living?
  19. MaesterB

    MaesterB King of the Wicker People

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    Regina, Sask, why'd you ask?
    I pay roughly $800/month (bi-weekly mortgage payment) for 1100sqft bi-level house. Not 100% sure how big the lot size is, but it's big. :) 3 bedrooms up, two down, bathroom on each level, and lots of space.

    I know people that are paying double that for a house 300sqft smaller than mine. I feel sorry for them...really I do.
  20. jake

    jake Vagabond

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    I think it is fairly well documented through various threads on the forum. But I worked my way through the oil and gas industry from working the rigs to a project manager for the #1 mid cap energy company in North America. (according to Forbes)
  21. Chainblade

    Chainblade Junior Member

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    ah well that explains it ;-)

    makes me feel great about my salary lol. speaking of which, i'm at work and one of the brokers walks in talking about his nice ass NSX and Corvette that he doesn't even really drive and all the pimp stuff he does to it. here I am thinking to myself about how I bought my last vehicle for $1700 and it was a massive amount of money to me lol. rich people suck. i can't imagine how easy life would be with money.
  22. MaesterB

    MaesterB King of the Wicker People

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    Regina, Sask, why'd you ask?
    I was going to say he's a gas man, but you beat me to it Jake.

    OR, you could be like my buddy who's father died, left him a house and a bunch of money, so that he used that money as a down-payment on a bigger house, which in turn got him a huge secure line of credit, and he rents out his dad's house for enough money that pays for the mortgage on his house and his dad's old house. He also works with the RCMP in the Criminology division, and makes $50k a year, and his wife makes something like $40k a year.

    Not that I wish anyone's parents to die to leave them in good standing. I personally like having my parents around and watch them enjoy their time with my kids (their grandkids).
  23. Chainblade

    Chainblade Junior Member

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    ya i would never wish anybody to die but the problem with parents dying is that by the time they do, i'll be financially stable anyways so it would be all extra. right now is when i desperately need the money, not later lol.
  24. MaesterB

    MaesterB King of the Wicker People

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    Regina, Sask, why'd you ask?
    QFT.

    Ooo...lottery is 48 million this weekend...better buy a ticket.
  25. ShabazKillaX

    ShabazKillaX I'm an F18 bro

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    2 bedroom/2 bath 1300sqft condo in the downtown/Channelside area of Tampa.

    $1600/month rent

    The owner of my unit paid $420k for it so my rent isn't even covering her mortgage payment.