speaking of the 2 months salary rule for e-ring...

[Libster]

Date: 1/24/2005 9:36:33 AM
Author: ursulawrite
My husband and I (he''s 31, I''m 27) have just bought our first place in NYC (1400 sq. ft loft in Soho).

He bought me a very modest ring, by NY standards, but being the clever man that he is, we have saved hard for a downpayment and bought a home that costs significantly over $1m. His friends that stuck to the two-month e-ring rule or exceeded it are still renting and have confided in him that their extravagant spending habits (big rocks, Land Rovers, Prada) ensures they will be for some time to come. I may not have the two-carat rock, but damn, I will soon be moving in to one cool apartment!

Congrats!! Sounds like a wonderful loft and a wondeful, wise husband. I married a frugal guy too! I''m lucky after 15 years he decided to part with a small amount of $$$ to indulge my diamond obsession

 

[MichelleCarmen]

Date: 1/24/2005 2:36:23 AM
Author: Kamuelamom
Yes, I''d agree with you Websailor, generally island living is for friendly, laid back folks who like the simple good life. Unfortunately, even that is changing since we are getting newcomers (with money) to the islands all the time who just don''t get it and many of their attitudes just don''t mix with the old ways of simple island living. They think that their money or where they came from gives them the right to treat others down.

I''m just not into folks with attitudes and egos that scream ''me, me, me.''

The island I grew up on was VERY laid back. Two laid back for me, infact, so I moved as soon as I graduated from HS since I never felt quite at home there. Big money is also infiltrating this island, but luckily there are laws in place for the South portion that keep both franchise businesses and *stop lights* to a minimum. The first chain resturant (Dairy Queen) was only built 10 or so years ago and this is still one of few chains (aside from gas stations) to be on the south side where I grew up.

Even though I''m not an island person, I highly respect that locations such as these maintain their unique charm. It''s devastating to see towns where Main Street stores are competing with the cheap strip-mall stores that''ve sprung up just two blocks over

 

[MichelleCarmen]

Date: 1/24/2005 11:17:23 AM
Author: fire&ice

That being said, you really have to know what your getting into with owning a second home.&

; Maybe you can rent it out & hire a agent to do so - but I wouldn''t want someone plopping their unknown butt on my sofa.

Renters are THE WORST way to keep an investment in tact. My mom bought and rented houses for a number of years and at one point own around 10 houses/properties. People TRASH houses! Every time someone moved out she had to replace all the carpeting, repaint, do tons of fixing of things (like leaky roofs - which add up to enormous hassles & expenses). She had one guy who refused to pay rent for six months and it took forever to get the guy out because he had read nearly every legal book out there and knew how to beat the system! She eventually sold everything

We have property up in the mountains that will be one site for a timberframe we plan to build and we''re thinking of renting it out during snowboarding season (when we''re not up there as my husband snowboards), but now I don''t want to. It would be REALLY awkward, as you said F&I, for someone else''s buns to be plopped down on our sofa. Plus, the bed too. Blech! lol

 

[Mara]

you could do the whole ''word of mouth'' thing Michelle where only friends and friends of friends are able to rent the house, alot of people do that around here for Tahoe houses and because it''s a friend or a friend of a friend, people tend to take better care of the rental than if it was an unknown....don''t know why that makes a difference but it seems to. Maybe because of direct accountability.

we know a few people who do this...minimal rental fees and you know the people who own it so it''s also somehow a little better for the ''renter''--who probably doesn''t want to plop their buns on your couch without knowing more about you!! i always take our own linens, towels, soaps, and couch protector/blankets when we rent a house in tahoe.

mrs. anal cleanliness!!

 

[ursulawrite]

Date: 1/24/2005 1:49

1 PM
Author: Libster

Date: 1/24/2005 9:36:33 AM
Author: ursulawrite
My husband and I (he''s 31, I''m 27) have just bought our first place in NYC (1400 sq. ft loft in Soho).

He bought me a very modest ring, by NY standards, but being the clever man that he is, we have saved hard for a downpayment and bought a home that costs significantly over $1m. His friends that stuck to the two-month e-ring rule or exceeded it are still renting and have confided in him that their extravagant spending habits (big rocks, Land Rovers, Prada) ensures they will be for some time to come. I may not have the two-carat rock, but damn, I will soon be moving in to one cool apartment!

Congrats!! Sounds like a wonderful loft and a wondeful, wise husband. I married a frugal guy too! I''m lucky after 15 years he decided to part with a small amount of $$$ to indulge my diamond obsession

Thanks! When we first got engaged I have to admit that I was a bit, huh, how come my ring is half the size of everyone else''s? Now I just adore my husband for being the committed saver that he is and I can''t wait to move into our new home.