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Lexington area Fayette County
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Old 01-29-2008, 12:33 PM
714 posts, read 1,415,591 times
Reputation: 215


Ok..I looked up the house that you found on the internet. It is 5 acres of land. Land that has to be mowed, and taken care of. There is no central heating, they heat with space heaters and what they do have is a propane tank, that cost money to fill it up.

I can't imagine I am even saying this! I don't think it is the right time for you to purchase a home. You seem very driven and I admire that...I bought my first home when I was 25. Yes you can make it in Lexington making $9.50 an hour, but buying a house can sometimes be very expensive. Closing costs alone can be anywhere from $250.00 to $2500.00 and up. If you pay the lower closing cost, they often charge you a higher interest rate. Plus you have to consider...are you willing to live somewhere that might cost you $40 per week for gas..just to get to work? Almost all of the homes in that price range are older. Older is great, but it often requires repairs. When you purchase you can state that you have the right to inspection, but even if everything comes back good...doesn't mean it won't break next week.

I think it is great that you have $10,000 you are planning to put toward a house! My suggestion to you is to look on craigslist or drive around the campus areas of Lexington, where you would likely find and inexpensive place to rent and save your money! Go talk to someone at AG Edwards, or Wells Fargo (someone with market knowledge) and let them invest all of that money)... live off what you make for a couple of years and buy a home when you have more money and know what you want in life. Buying a house is a great invesment, but if you are not going to stay there at least two years, there really isn't a point in most cases!

Be happy for now! Life IS Good! Live with heat, it gets very cold hear at times. I will agree not as cold like up north, but cold during the winter. I would be miserable without heat!

Good Luck! and if for some reason you end up buying a house BE CAREFUL, the market is desperate today and they will sway you just to get a deal!
Just because it is a buyers market and rates are low doesn't mean that it is a good time for you indiviually. There will always be another house for sale and another good deal around the corner!
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Old 01-29-2008, 06:20 PM
714 posts, read 1,415,591 times
Reputation: 215
I just read my previous post! I can't understand why there are so many errors! hear? or how about individuals?

I am really not that person...I have got to find spell check on this forum!! Does anyone want to tell me how to do that?

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Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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