Should I worry about building a house? - JeepForum.com
Search  
Sign Up   Today's Posts
User: Pass: Remember?
Advertise Here
Jeep Home Jeep Forum Jeep Classifieds Jeep Registry JeepSpace Jeep Reviews Jeep Gallery Jeep Clubs Jeep Groups Jeep Videos Jeep Events Jeep Articles
Go Back JeepForum.com > General > General Discussion > Should I worry about building a house?

Ruffstuff XJ Unirail Channel Reinforcement....Rugged Ridge Modular XHD Snorkel Now for both 3.8L and 3.6RIGID LED Light Blowout Sale - All Sizes, All Series, all

Reply
Unread 01-23-2008, 10:09 PM   #1
MoJeeper
Registered User
1999 TJ Wrangler 
 
Join Date: Jun 2006
Location: Northeast Missouri
Posts: 714
Should I worry about building a house?

With the economy ready to collapse, Hillary about to become president, and dollar loosing value?

In all seriousness would it a bad Idea to build a house with the way things are going? Or should I just do it because its gonna cost even more in 5 years?

__________________
99 Green TJ SE
3" Full Traction Lift
4.88's, 33" MT's
My Jeep
MoJeeper is offline   Reply With Quote Quick reply to this message
Unread 01-23-2008, 10:15 PM   #2
MattTheMudder
Ask Mr. Owl
 
MattTheMudder's Avatar
1999 TJ Wrangler 
 
Join Date: Jan 2005
Posts: 1,846
Are you gonna be selling it soon after?
__________________
Me fail English? That's unpossible
MattTheMudder is offline   Reply With Quote Quick reply to this message
Unread 01-23-2008, 10:20 PM   #3
MoJeeper
Registered User
1999 TJ Wrangler 
 
Join Date: Jun 2006
Location: Northeast Missouri
Posts: 714
Nope, plan living the rest of my life there. Grounds been in my family for 100yrs I hope to keep it that way.
__________________
99 Green TJ SE
3" Full Traction Lift
4.88's, 33" MT's
My Jeep
MoJeeper is offline   Reply With Quote Quick reply to this message
Unread 01-23-2008, 11:12 PM   #4
Reswob
Registered User
1998 ZJ 
 
Join Date: Sep 2005
Location: Richmond, VA
Posts: 1,838
If you're not planning on selling, what does it matter? Build away.
__________________
'08 Triumph Bonneville Black ~ Café Racer

#27. Shirts get dirty. Underwear gets dirty. Pants? Pants never get dirty, and you can wear them forever.
Reswob is offline   Reply With Quote Quick reply to this message
Unread 01-23-2008, 11:18 PM   #5
MoJeeper
Registered User
1999 TJ Wrangler 
 
Join Date: Jun 2006
Location: Northeast Missouri
Posts: 714
Probably more worried about getting a loan than anything. Hoping the banks didn't tighten up to much to where we cant get one.
MoJeeper is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 05:49 AM   #6
RAZORBILL
Registered User
2014 JK Wrangler 
 
Join Date: Mar 2007
Location: Neah Bay, Washington
Posts: 2,652
With the fed cutting rates and you not planning to sell now is probably the perfect time. Getting loan is probably tougher than it was 3-4 yrs ago but assuming you have decent credit you shouldn't have a problem. Just make sure you don't get in over your head with the monthly payment.

Al
__________________
Previously owned: 80 CJ-5, 97 TJ,99 XJ, 95 YJ,10 JK Rubicon Unlimited, 10 JK Sport
RAZORBILL is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 06:29 AM   #7
ionakana
Grand Poobah
 
ionakana's Avatar
1994 YJ Wrangler 
 
Join Date: Sep 2006
Location: Cumming GA
Posts: 4,100
if you don't build you will have to pay rent somewhere I assume, mortgage payments are usually close to rent. If you have to pay one then make a mortgage payment. Try to keep it at 15 years if possible and no more than 25% of your take home pay.
__________________
Psalm 14:1



http://www.oddhammer.com/tutorials/d...debt_clock.swf



Live in Georgia? click here--> http://georgiacrawlers.com/
ionakana is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 06:51 AM   #8
Fett
Mechanically Declined
 
Fett's Avatar
1999 TJ Wrangler 
 
Join Date: Mar 2005
Location: Surprise, AZ
Posts: 310
Another aspect to look at is the cost of materials in your area. Lumber and concrete prices in the Phoenix area have gone through the roof. A friend of mine is holding off building on his land for now based on those prices.
__________________
99 TJ Sport I64L Manual 31x10.5 RE 3.5" Super Flex 1"BL 3.73 gears w/LockRite in front. Warrior Safari Rack.

"When you honestly believe you can compensate for lack of skill by doubling your efforts, there's no end to what you can't do". www.despair.com
|_
|T|
Fett is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 07:21 AM   #9
EagerJeeper
Registered User
 
Join Date: Oct 2006
Location: Chattanooga, TN
Posts: 330
With inflation coming this is a perfect time to build a house. Your mortgage payment can be made with "cheaper" dollars in the future. Use the governments own trick to your advantage.
__________________
Join The NRA!
Vegetables are for when you run out of meat!
I find it odd that my spell checker always highlights Obama as a mistake!
EagerJeeper is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 09:09 AM   #10
Willys2TJ
Registered User
 
Join Date: May 2004
Location: Central Indiana, IN
Posts: 60
Quote:
Originally Posted by T.H's Jeeps
With the economy ready to collapse, Hillary about to become president, and dollar loosing value?

In all seriousness would it a bad Idea to build a house with the way things are going? Or should I just do it because its gonna cost even more in 5 years?
It may not cost more in 5 years. In this area, the tradesmen are cutting their prices to get any work at all. Framers, bricklayers, electricians, etc. will drop their price 5-10% just for the asking. Some are cutting their prices even more just to keep their crews working. Building is DEAD in this area.

I suspect that materials may drop slightly but with China sucking up all excess supply, those costs probably will remain fairly constant.

In a year or two, when (if) this housing market turns around, look for the trades to bring their labor costs back up.

Financing is going to be easy for those with good credit rating, 680-700 or better. Less than that you'll probably find it much more difficult to borrow than it was a year or so ago. If you have good credit and free land, go ahead and do it now.

I don't think I'd worry too much about that crazy beach becoming Pres. My prediction? Doesn't matter who gets the Dem nomination. Bloomberg will run as an independent and suck away millions of votes, mostly from the Dems and whatever Republican runs will be elected president. The same way that Ross Perot got Clinton elected. He sucked away many Republican voters and Clinton became president with less than 50% of the popular vote, both times.

Even if Bloomberg doesn't run, Slick Hilly is so polarizing that she won't have a prayer and B. Hussein Obama has even less of a chance.
__________________
Playing with Jeeps since the 60's.
Willys2TJ is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 09:14 AM   #11
Fett
Mechanically Declined
 
Fett's Avatar
1999 TJ Wrangler 
 
Join Date: Mar 2005
Location: Surprise, AZ
Posts: 310
WOW....this is the first I've heard anyone mention Bloomberg running (independent or otherwise). Where did you hear that from?
__________________
99 TJ Sport I64L Manual 31x10.5 RE 3.5" Super Flex 1"BL 3.73 gears w/LockRite in front. Warrior Safari Rack.

"When you honestly believe you can compensate for lack of skill by doubling your efforts, there's no end to what you can't do". www.despair.com
|_
|T|
Fett is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 09:52 AM   #12
Willys2TJ
Registered User
 
Join Date: May 2004
Location: Central Indiana, IN
Posts: 60
Quote:
Originally Posted by dktcluff
WOW....this is the first I've heard anyone mention Bloomberg running (independent or otherwise). Where did you hear that from?
http://www.nytimes.com/2007/06/24/we...w/24healy.html

http://www.gather.com/viewArticle.js...81474977226403

http://www.cnn.com/2008/POLITICS/01/10/bloomberg/

http://www.sacbee.com/726/story/635963.html

Also, I have some friends that live in NYC and many people there think its a sure thing.

We'll see.
__________________
Playing with Jeeps since the 60's.
Willys2TJ is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 11:09 AM   #13
Ross
Registered User
2001 TJ Wrangler 
 
Join Date: Dec 2002
Location: BUM****, MO
Posts: 10,536
Build it now and enjoy it.
__________________
Schitzangiggles: We used to teach our children to fight evil, now we teach them that fighting is evil.

2001 TJ, 33 trxus MTs , W, locked, belly up, some armor.

"If you aim at nothing, you will hit it every time." Zig Ziglar
Ross is online now   Reply With Quote Quick reply to this message
Unread 01-24-2008, 11:13 AM   #14
tcourdin
Registered User
 
Join Date: Apr 2005
Location: Fayetteville, AR
Posts: 1,679
Quote:
Originally Posted by T.H's Jeeps
Nope, plan living the rest of my life there. Grounds been in my family for 100yrs I hope to keep it that way.
Man thats excellent, you've already got the land out of the way. I've been looking for the perfect land to buy and build a house on for 5 years!

I'd say its a great time to build a house, I wouldn't put it off if you're ready.
__________________
88 Wrangler, Rebuilt I6, NV3550,Atlas 2,B&M Shifter,38/38 Weber, Skyjacker Lift & Nitro Shocks & Stabilizer, Black Diamond Discos, 35 " Regul MT's & Outlaw 2 Alum Wheels, 4.88 Gears, Dana 35 & Super 35 kit & Detroit Soft Locker, Dana 30 & Superior Axles & Detroit Soft Locker & No Disco, SRC Front & Rear Bumpers, SRC Side Armor, Warn XD 9000 I Winch & In Cab Controls, OR Fab Tire & Can Carrier, Rock Hard 4x4 Full Cage, Hood Rack & Hi Lift & AX, Outland Seats, KC & Silverstar.
tcourdin is offline   Reply With Quote Quick reply to this message
Unread 01-24-2008, 11:21 AM   #15
Ross
Registered User
2001 TJ Wrangler 
 
Join Date: Dec 2002
Location: BUM****, MO
Posts: 10,536
Quote:
Originally Posted by tcourdin
Man thats excellent, you've already got the land out of the way. I've been looking for the perfect land to buy and build a house on for 5 years!

I'd say its a great time to build a house, I wouldn't put it off if you're ready.

If you are looking in MO let me know.
__________________
Schitzangiggles: We used to teach our children to fight evil, now we teach them that fighting is evil.

2001 TJ, 33 trxus MTs , W, locked, belly up, some armor.

"If you aim at nothing, you will hit it every time." Zig Ziglar
Ross is online now   Reply With Quote Quick reply to this message
Reply

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the JeepForum.com forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid e-mail address for yourself.
Note: All free e-mails have been banned due to mis-use. (Yahoo, Gmail, Hotmail, etc.)
Don't have a non-free e-mail address? Click here for a solution: Manual Account Creation
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.


Thread Tools


Suggested Threads





Jeep, Wrangler, Cherokee, Grand Cherokee, and other models are copyrighted and trademarked to Jeep/Chrysler Corporation. JeepForum.com is not in any way associated with Jeep or the Chrysler Corp.