Buying my first house:)

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SVOMike86

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So my wife an I live in a 1 bed/1 bath condo. It's awesome. Big for a condo, close to my work, and right on a great bass fishing lake. Only problem is, now that we're coming up on 30 years old, it's time to start a family, and that's kinda hard to do in a 1 bedroom condo. What I originally had in mind was a nice 3 bed/2 bath house in a neighborhood, with a garage, for preferably $150-180k. Apparently you haven't been able to get something like that where we live (in a decent school district) for about 20 years. I had to up my limit for pricing, which sucked, but realized that I wasn't going to find anything I liked (turnkey house) for less that $250k. Ridiculous. Until I remembered that my wife has horses, and we pay a crap load of money every month to someone else to board them. LIGHTBULB FLICKERS Why not pay a little more and find a house with land and a barn and keep that extra money? So we found our first house. Its a 3 bed/3 bath, 2100sqft ranch, on 5 acres, a huge 18X36' shed (it has man cave written all over it), a 25X50' barn, and the back 2.5 acres is riding trails/hunting/dirt bikes and atv's. Our offer has been approved, and we just had the home inspection yesterday. It came back pretty good, with only a few small issues. Biggest one being the damper on the wood stove is inop. No biggee. AAAAAAANNNNNNDDDD, although it wouldn't be able to happen for a while, I have "permission" to dig a 1.5 acre pond on the rear of the property. Trophy bluegill here I come...

On a side note, I can't figure out how to post an image of the entire property, but if any of you guys gets bored, and has google earth, the address is:
1340 Beaver Dam Rd 23322 :D
 
I wish you the best. It's great getting your first house. I hope you have many years of enjoyment there. We bought ours 33 years ago and still live there. =D> It looks like a very nice home.
 
SVO - Nice property good luck now the fun begins. The nice thing (a little sarcasm) about owning your house is you are never bored always something to fix or upgrade #-o
 
Congrats !!! Really NICE piece of property !!!!! Sounds like you got a really decent deal on the place and should have a low interest mortgage to pay off without ever having to think about refinancing it. Sweet !!! You might want to look into what the Virginia rules are for getting the property declared a farm for tax purposes. In NJ, if you plant an area with christmas trees with the "intention" of raising them for sale or bring in a couple sheep and keep them in a shelter on the land, you can be designated a farm, at a significantly reduced property tax rate.
Edited by Doc to apologize for his stupidity---- seems I forgot your wife has horses. Keeping them on the property will get you the farm deduction in Jersey and should do the same in Virginia.

Just so the rest of the guys can see what you bought.........
 

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Congrats!!!
You might want to check before digging pond. Here in SD one has to have submit survey, plan, & get permits to build one. Could get very expensive if do not do it before hand.
 
Hey guys, home inspection was done on this past Sunday, a couple small issues, nothing that will deter us from buying if the sellers say they wont fix it. The pond is WAAAAAAAYYYY off in the future, no need for me to worry about it now, just cool that I can do it later if I want to. BTW, you guys are all invited to the party...
 

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