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We're Property Owners

We're Property Owners

Old May 7th 2013, 3:56 pm
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Default 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.
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Old May 7th 2013, 4:04 pm
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Congratulations. 16 months! If only......
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Old May 7th 2013, 4:27 pm
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Default 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?
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Old May 7th 2013, 4:34 pm
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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.
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Old May 7th 2013, 4:59 pm
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Congratulations!
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Old May 7th 2013, 6:41 pm
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Congrats, that's great stuff!
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Old May 7th 2013, 6:49 pm
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Congratulations....
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Old May 7th 2013, 7:06 pm
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Default Re: We're Property Owners

Originally Posted by Rete View Post
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.
Congratulations! We just moved into the house we've bought in Sleepy Hollow. I bet our property tax is a lot higher than what you'll be paying!
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Old May 7th 2013, 8:37 pm
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Congratulations Rete, I do like the numbers you quoted.
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Old May 7th 2013, 8:39 pm
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Congratulations .. hope you're on the mend after your accident.
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Old May 7th 2013, 9:07 pm
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Default 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 . . .
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Old May 7th 2013, 9:09 pm
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Wahay! Congratulations!
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Old May 7th 2013, 9:12 pm
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Congrats !! 16 months will fly by )
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Old May 17th 2013, 1:39 pm
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Default Re: We're Property Owners

Originally Posted by Rete View Post
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.
Missed the reply on this

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!
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Old May 17th 2013, 2:14 pm
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Default Re: We're Property Owners

What lovely news I am sure you and Jim will be super happy.
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