We're Property Owners
May 7th 2013, 3:56 pm
#1
Concierge
Thread Starter
Joined: Apr 2001
Posts: 46,390
We're Property Owners
Jim and I closed on our new home the end of April. We now own a 3 bedroom/2 bath home with a double plot in Hattiesburg, Mississippi. Of course, I'm still living in New York but only 16 more months to go for retirement. I've never owned anything but a cemetry plot so I'm over the top with this.
Can't believe the price of our home and what our monthly mortgage/taxes are. The house was for sale for only $89K and we made full price as there was another bidder. The house was sold by the original owner who is elderly and going to live with her daughter and it came with all new appliances and a/c and what not. Nothing to buy but a lawn mower. And a double garage ... yahoo.
Can't believe the price of our home and what our monthly mortgage/taxes are. The house was for sale for only $89K and we made full price as there was another bidder. The house was sold by the original owner who is elderly and going to live with her daughter and it came with all new appliances and a/c and what not. Nothing to buy but a lawn mower. And a double garage ... yahoo.
May 7th 2013, 4:04 pm
#2
BE Enthusiast
Joined: Nov 2008
Location: Seal Rock, Oregon
Posts: 842
Re: We're Property Owners
Congratulations. 16 months! If only...... 
May 7th 2013, 4:27 pm
#3
.
Joined: Nov 2002
Location: Where bad things rarely happen in movies
Posts: 8,933
Re: We're Property Owners
Congratulations!
We're a few years off yet (need to get the kids through college
) but already "discussing" location options...the most likely looking like being erm, a "2 center marriage" at the moment
.
Out of interest, why did you go for Hattiesburg - is that where you/the family are from?
We're a few years off yet (need to get the kids through college
) but already "discussing" location options...the most likely looking like being erm, a "2 center marriage" at the moment . Out of interest, why did you go for Hattiesburg - is that where you/the family are from?
May 7th 2013, 4:34 pm
#4
Concierge
Thread Starter
Joined: Apr 2001
Posts: 46,390
Re: We're Property Owners
My daughter's hubby is from MS and they settled in Hattiesburg after they lost their property in Long Beach, MS with Katrina. So we will be close to the grandkids and Jim fell in love with life in Mississippi. He has been living there for the last 2 years and decided since property was so inexpensive and the interest rates on a mortgage so low, we bought. Got a 2.75% mortgage for 15 years with a monthly cost of under $550 a month including taxes. Also with the homesteader exemption we only pay taxes on anything over 70K.
May 7th 2013, 4:59 pm
#5
Joined: Jun 2010
Location: Houston, TX
Posts: 2,262
Re: We're Property Owners
Congratulations!
May 7th 2013, 6:41 pm
#6
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: We're Property Owners
Congrats, that's great stuff!
May 7th 2013, 6:49 pm
#7
Are we there yet?
Joined: Jul 2007
Location: 31 miles from Cool (California)
Posts: 2,467
Re: We're Property Owners
Congratulations....
May 7th 2013, 7:06 pm
#8
BE Forum Addict
Joined: Sep 2010
Location: Sleepy Hollow, New York
Posts: 2,536
Re: We're Property Owners
Jim and I closed on our new home the end of April. We now own a 3 bedroom/2 bath home with a double plot in Hattiesburg, Mississippi. Of course, I'm still living in New York but only 16 more months to go for retirement. I've never owned anything but a cemetry plot so I'm over the top with this.
Can't believe the price of our home and what our monthly mortgage/taxes are. The house was for sale for only $89K and we made full price as there was another bidder. The house was sold by the original owner who is elderly and going to live with her daughter and it came with all new appliances and a/c and what not. Nothing to buy but a lawn mower. And a double garage ... yahoo.
Can't believe the price of our home and what our monthly mortgage/taxes are. The house was for sale for only $89K and we made full price as there was another bidder. The house was sold by the original owner who is elderly and going to live with her daughter and it came with all new appliances and a/c and what not. Nothing to buy but a lawn mower. And a double garage ... yahoo.
May 7th 2013, 8:37 pm
#9
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,966
Re: We're Property Owners
Congratulations Rete, I do like the numbers you quoted.
May 7th 2013, 8:39 pm
#10
BE Forum Addict
Joined: Oct 2007
Location: Charlotte,NC
Posts: 1,717
Re: We're Property Owners
Congratulations .. hope you're on the mend after your accident.
May 7th 2013, 9:07 pm
#11
Deep in the woods of CT
Joined: Feb 2010
Posts: 7,002
Re: We're Property Owners
Thrilled to hear that the closing went off OK and that you and Jim are homeowners! Fantastic news -- bet that suddenly you can't wait for those months to fly by so that you can get down there for good! Now you've really got to get that arm back in shape ready for the yard work . . .
May 7th 2013, 9:09 pm
#12
Ginger Monkey
Joined: Jun 2007
Location: Cheeseland, WI
Posts: 2,772
Re: We're Property Owners
Wahay! Congratulations!
May 7th 2013, 9:12 pm
#13
BE Forum Addict
Joined: Nov 2002
Location: Harbor Springs, Michigan *again*
Posts: 2,340
Re: We're Property Owners
Congrats !! 16 months will fly by )
)
May 17th 2013, 1:39 pm
#14
.
Joined: Nov 2002
Location: Where bad things rarely happen in movies
Posts: 8,933
Re: We're Property Owners
My daughter's hubby is from MS and they settled in Hattiesburg after they lost their property in Long Beach, MS with Katrina. So we will be close to the grandkids and Jim fell in love with life in Mississippi. He has been living there for the last 2 years and decided since property was so inexpensive and the interest rates on a mortgage so low, we bought. Got a 2.75% mortgage for 15 years with a monthly cost of under $550 a month including taxes. Also with the homesteader exemption we only pay taxes on anything over 70K.
Sounds like you're well sorted. Nice one.
Its one difference I've noticed here....a lot of retirement age folks (my in-laws included) seem to move in retirement to where the younger family are. This seems to be very different to my mams experience in the UK where even when the young folk move away, the retirees stay in their hometown. Obviously that is a massive generalization, and may have something to do with "big city" here vs "small town" for my mam in the UK.
I suspect we will likely take the "follow the kids" approach, though hopefully will be doing a lot of travelling, so the "home" will be a short term one between trips. Well, that's the rosey specs plan at this stage....reality may bite in a different place!
May 17th 2013, 2:14 pm
#15
Joined: Oct 2006
Location: Reno Nevada
Posts: 15,917
Re: We're Property Owners
What lovely news I am sure you and Jim will be super happy.