1978, a few months before we got married I bought a 1250 sq. ft. 2 bedroom one bath brick house for $26k. I was making about $8.50 an hour at Ford Motor Company. The payment was about a week's 40 hour pay.
That's a GREAT set of rules, I live in Michigan and the all apply here as well.As newlyweds, we bought a newly constructed 1st home in Plano, TX in 1978 for $63,000 - 1600 sf, 2 car garage, 3 bedroom, 2 bath. Sold it in 1982 for $90,000 and bought another newly built home in Plano for $125,000 - 2,300 sf, 4 bedroom 2 1/2 bath, 2 car garage. Sold it in 1986 for $145,000; moved into a "designed/built for us" home in Plano for $380,000 - 3,900 sf, 5 bedroom, 5 baths, swimming pool, 3 car garage. We updated that home in 1990, adding a study, another fireplace and expanding the den - added 300 sf - for $30,000. We lived in that house from 1986 until 1997 (11 years), yet sold it (when moving to LA) for only $390,000 - less than our $410,000 "all-in." Real estate market in Texas in 1997 was abismal. Moved back to Plano in 2000 and bought a 3,700 sf house - 4 bedrooms, 4 baths, 3 car garage, two fireplaces, living room, dining room and den - for $310,000 (including remodeling costs incurred before we moved into it). Sold it in 2006 (to move into our current house) for $455,000. Current house in McKinney, TX - $375,000 - was designed/built by/for us - a one-story, 3,000 sf, 3 bedrooms, study, 4 bathrooms, 3 1/2 car garage. Current estimated value is $650,000. We're not moving anywhere until old age and infirmity force us to.
We've learned a few things from these homes:
1. Always have a bathroom near the door leading from the house out to the garage.
2. Always have more bathrooms than bedrooms. Bathtubs are never used, they're just for looks. All showers need to be "walk-in."
3. Master bedroom needs to be at least 14x18, and always be an in-suite. All other bedrooms need to be at least 12x12. There must be a bathroom adjacent to each bedroom.
4. Always have at least one more garage bay than we need. One-car garage doors create a catastrophe waiting to happen (by the bride).
5. Dining rooms are wasted space. Their sole purpose is to display very expensive formal dining room furniture that is never used.
6. Always have two master bedroom closets (his/her) and make each of them twice as large as we think they need to be.
7. Always have twice as many electrical wall outlets as the builder suggests. This is particularly true in the master closets, the study and the garage.
8. In Texas, never, never, never have the home's front elevation facing west or north.
9. Guest bedrooms are rarely needed, and rarely appreciated by the guests.
10. In Texas, functioning wood-burning fireplaces are a waste of money. Natural gas-buring fireplaces, although much less expensive to build or operate, are also unnecessary except for two days before Christmas.
And a fairly short "wish list" of items:
1. A lockable, detached garage for which only I have a key.
2. Woodworking tools and equipment in that detached garage.
3. Room in that detached garage, or preferably a separate shed, in which to store yard tools, mowing equipment, etc.
I like most of your rules. Our house is in North Dallas at North Dallas pricing.As newlyweds, we bought a newly constructed 1st home in Plano, TX in 1978 for $63,000 - 1600 sf, 2 car garage, 3 bedroom, 2 bath. Sold it in 1982 for $90,000 and bought another newly built home in Plano for $125,000 - 2,300 sf, 4 bedroom 2 1/2 bath, 2 car garage. Sold it in 1986 for $145,000; moved into a "designed/built for us" home in Plano for $380,000 - 3,900 sf, 5 bedroom, 5 baths, swimming pool, 3 car garage. We updated that home in 1990, adding a study, another fireplace and expanding the den - added 300 sf - for $30,000. We lived in that house from 1986 until 1997 (11 years), yet sold it (when moving to LA) for only $390,000 - less than our $410,000 "all-in." Real estate market in Texas in 1997 was abismal. Moved back to Plano in 2000 and bought a 3,700 sf house - 4 bedrooms, 4 baths, 3 car garage, two fireplaces, living room, dining room and den - for $310,000 (including remodeling costs incurred before we moved into it). Sold it in 2006 (to move into our current house) for $455,000. Current house in McKinney, TX - $375,000 - was designed/built by/for us - a one-story, 3,000 sf, 3 bedrooms, study, 4 bathrooms, 3 1/2 car garage. Current estimated value is $650,000. We're not moving anywhere until old age and infirmity force us to.
We've learned a few things from these homes:
1. Always have a bathroom near the door leading from the house out to the garage.
2. Always have more bathrooms than bedrooms. Bathtubs are never used, they're just for looks. All showers need to be "walk-in."
3. Master bedroom needs to be at least 14x18, and always be an in-suite. All other bedrooms need to be at least 12x12. There must be a bathroom adjacent to each bedroom.
4. Always have at least one more garage bay than we need. One-car garage doors create a catastrophe waiting to happen (by the bride).
5. Dining rooms are wasted space. Their sole purpose is to display very expensive formal dining room furniture that is never used.
6. Always have two master bedroom closets (his/her) and make each of them twice as large as we think they need to be.
7. Always have twice as many electrical wall outlets as the builder suggests. This is particularly true in the master closets, the study and the garage.
8. In Texas, never, never, never have the home's front elevation facing west or north.
9. Guest bedrooms are rarely needed, and rarely appreciated by the guests.
10. In Texas, functioning wood-burning fireplaces are a waste of money. Natural gas-buring fireplaces, although much less expensive to build or operate, are also unnecessary except for two days before Christmas.
And a fairly short "wish list" of items:
1. A lockable, detached garage for which only I have a key.
2. Woodworking tools and equipment in that detached garage.
3. Room in that detached garage, or preferably a separate shed, in which to store yard tools, mowing equipment, etc.
People around me are literally paying 4k for an apartment to give you an idea.Paid $42,000 for a ranch in 80. Hard to believe most properties in my area are now close to $600,000 and more. Sure would not like to pay $4000 per month like some folks. Good Luck!!!
Man I would not paid that even you hear people pay 800 900 1000 dollars for a car payment that's crazyPeople around me are literally paying 4k for an apartment to give you an idea.
Holy sh** Never thought I would be glad to be old but house is paid for at least. Heard some horror stories concerning car and truck payments like jav mentioned. often find the cost of cars and homes-rent so mind boggling.People around me are literally paying 4k for an apartment to give you an idea.
Very close to mine.2/1 with a garage about 1000 sf. $26,500..
We sold ours 3 years later for $33,000 on a rush sale.Very close to mine.
2/1/1 980 square feet
1/4 acre lot
$27K FSBO (no fees) and found my own loan.
This was 2001
Sold it four years later for $47K.
Bought this 3/2/2 1500 feet and it has tripled in value in 18 years.
I got a few of those cars. Wish I never had sold them.Married in 1967 and rented apartments until 1971 when the wife & I bought this new 3/2 with 1329 sq/ft in Austin for $23,500. Had one son at the time.
Sold it in 1976 for $30,000 to upgrade to a 4/2 with 1,900 sq/ft priced at $33,000. Had three sons by then.
Wish I still had my '67 Chevelle Malibu coupe (283 with 3 on the tree).
Paid $2,685 new for that and sold it in 1971 with 60,000 on the clock for $1,000.
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