WWYD? Next Goal

lbonga1

I keep going back and forth on which financial goal to prioritize. Here are my options:

1. Save for a downpayment on a house. Ideally we'd want to buy soon after moving to the Bay Area (where I'm going to be looking for jobs after completing the software engineering program that I'm in, about a year and a half left). The area is highly in favor of owning, and even with only 5% down, the mortgage+taxes+PMI would be the same as rent. I found two savings accounts that give 5-6% interest up to $5000, so if FI and I opened up one of each, we could have up to $20k of our downpayment earning that much interest until we decide to buy.

2. Pay down student loans. I have 6 Federal student loans, current balances as follows:

- Subsidized at 3.15%, $5645 balance

- Subsidized at 3.15%, $3816 balance

- Subsidized at 4.25%, $5661 balance

- Unsubsidized at 6.55%, $8923 balance

- Unsubsidized at 6.55%, $8649 balance

- Unsubsidized at 6.55%, $5558 balance

 For this semester I am only taking one class because the class is very intensive, but next semester and forward, if I take two classes I can request deferment, and I won't have to pay interest on the subsidized loans.

3. Combination of the two. Pay down the unsubsidized loans then save for a house? Put half of what I can toward the loans, and half into savings? Something else?

Other things to mention: FI and I are going to be discussing moving in with his parents for up to a year to help us in either of these goals. We're not sure yet if they'll be willing, but they know we're not making much progress financially due to the cost of living in our area. Also, I may end up going back to work for a previous employer who has their headquarters in the Bay Area, so that may speed up our timeframe for moving up there.

blondie42107

I'd run the numbers a few different ways.

If you move in with family, do you have an estimate of what you would contribute for "rent" or would family decline a payment?

I don't think there's a right or wrong answer. You just need to figure out what will work best for you.

H and I have some debt but we have good credit. Our focus right now it to save for down payment while continuing our current debt payments. We'd rather have the bigger down payment verses focusing on eliminating all debt. We have low interest rates on our auto loans and not much left on student loans.

Xstatic3333

I would probably do either 1 or 2, but not 3. The combination technique would just slow everything down.

I don't think that either 1 or 2 is wrong, but H and I tackled our DP savings after getting rid of consumer debt. Like you, we bought with 5% down (and a big e-fund in the bank) and saved greatly over renting that way. It sounds like this might especially make sense given the rough rental market in the Bay Area (we've heard a bit from friends out there-sounds stressful).

I don't think the debt-first approach is wrong if you're debt averse. We just aren't particularly.

Have you crunched the numbers about how long debt payoff and/or saving $20,000 will take? Do you have a solid e-fund saved?

dragonstarjk

I would probably do option #1, due to the fact that you mentioned you may go to work for your previous employer and that you would end up moving there sooner than expected.  If the opportunity arises for you to relocate, you would be glad to have part of your down payment saved up.  You can make student loan payments from anywhere.

als1982

I think this is a very personal decision.  It is were us, we'd kill the debt first.

Also, since it's not fully clear if you're already in California or another high cost of living area, but have you thought about instead of relocating to the Bay Area, moving to a less expensive part of the country?  There are tech jobs available (and in high demand) all over the country, including lower cost of living cities.  My H and my BFF's H are both in the tech industry and make at or around six figures, which may be low for San Francisco, but where they live in Missouri you could get a 2,500-3,000 square foot house for $175K, and here in KC, for about $300K; a house that I'm sure in CA would cost $1 million+.  Plus, I'm personally a fan of being a big fish in a small pond, versus the other way around.  

Just another option to consider if you're already thinking about relocating away from family...   

hoffse

als1982 said:

I think this is a very personal decision.  It is were us, we'd kill the debt first.

Also, since it's not fully clear if you're already in California or another high cost of living area, but have you thought about instead of relocating to the Bay Area, moving to a less expensive part of the country?  There are tech jobs available (and in high demand) all over the country, including lower cost of living cities.  My H and my BFF's H are both in the tech industry and make at or around six figures, which may be low for San Francisco, but where they live in Missouri you could get a 2,500-3,000 square foot house for $175K, and here in KC, for about $300K; a house that I'm sure in CA would cost $1 million+.  Plus, I'm personally a fan of being a big fish in a small pond, versus the other way around.  

Just another option to consider if you're already thinking about relocating away from family...   

DItto this.  It's amazing how far a ~6 figure job will take you in a LCOL or MCOL area.  My dad's family is all in the Bay area, and every time he visits he picks up a real estate ad just to laugh.  When my grandparents died, their house was sold to a guy who paid over $2M for it, and then he bulldozed the house.

As to the original question, I would probably save for a DP first, but we're not particularly debt-adverse.  I don't think I would try to do both at once.

lbonga1

@als1982 Kind of funny you mention that because FI would actually prefer to live in a place like Missouri. But right now we're already in California (Orange County), and even though we'd be moving away from his parents if we moved to the Bay, we'd be moving closer to my parents who live in Sacramento. But you're right about the housing cost; the cheapest we're looking at for a 2 bedroom condo/townhome in a good school district is like $525k. 

To answer some of the other questions, if we moved into FI's parents' house, we wouldn't be paying rent. We'd help with other things like yard work, housekeeping, cooking, etc. I was having a hard time trying to figure out how long it would take for us to save or pay off specific amounts, because once I finish school and find a new job, my income could easily triple. With my income as it is currently, if we were to move in with FI's parents, we could save about 3/4 of what we would need for the downpayment in a year. Our emergency fund was depleted while I was on unemployment this year, but we're working on building it back up. We would make sure to have at least 3 months of expenses + 1% of the cost of the home set aside for repairs before we buy.

Based on your responses, I'm kind of leaning towards saving for the downpayment. I also thought about the student loan interest rates a bit more and realized once my loans go into deferment next semester, the average interest rate would be 3.275%, so in that case it would make more sense to put it in the 5-6% interest savings.

als1982

lbonga1 said:

@als1982 Kind of funny you mention that because FI would actually prefer to live in a place like Missouri. But right now we're already in California (Orange County), and even though we'd be moving away from his parents if we moved to the Bay, we'd be moving closer to my parents who live in Sacramento. But you're right about the housing cost; the cheapest we're looking at for a 2 bedroom condo/townhome in a good school district is like $525k. 

To answer some of the other questions, if we moved into FI's parents' house, we wouldn't be paying rent. We'd help with other things like yard work, housekeeping, cooking, etc. I was having a hard time trying to figure out how long it would take for us to save or pay off specific amounts, because once I finish school and find a new job, my income could easily triple. With my income as it is currently, if we were to move in with FI's parents, we could save about 3/4 of what we would need for the downpayment in a year. Our emergency fund was depleted while I was on unemployment this year, but we're working on building it back up. We would make sure to have at least 3 months of expenses + 1% of the cost of the home set aside for repairs before we buy.

Based on your responses, I'm kind of leaning towards saving for the downpayment. I also thought about the student loan interest rates a bit more and realized once my loans go into deferment next semester, the average interest rate would be 3.275%, so in that case it would make more sense to put it in the 5-6% interest savings.

Understandable, especially since you have kids. For us, family proximity is top priority too. H actually lived in San Francisco for 2 years after grad school. He moved back to Kansas to be closer to family. His salary ended up about the same, but was able to get an apartment by himself without roommates for a fraction of the cost he was paying to share a house with three or four other guys in CA. Ironically, a good number of his current clients are based in Silicon Valley. And my BFF's husband's company is out of DC (also super HCOL) so they're also reaping huge benefits from telecommuting.

bmo88

@lbonga1 Hmm I would probably move in with family and save for a down payment. But I would honestly look for a LCOL or MCOL area. I was fortunate to land a job making $90k in a LCOL area and it's about how much I would make in some HCOL areas (in education), but we have been able to expedite our financial goals tremendously because of it.

Also, I have to ask, where are you getting 5-6% on a savings account? I want in!

vlagrl29

I would do a combo of 1 and 2.  I like feeling more "even" on pursuing our goals.  I would not move in with parents - that would be only if I was in dire need.

JoanE2012

I'd probably save for the downpayment first.   I definitely wouldn't move in with parents.  I'm sure this is an UO, but I think that once someone is old enough and is engaged/married - they should accept the decisions they've made in life and make things work.  Of course, I am in support of it in dire situations, but not in the situation mentioned.

lbonga1

I should have mentioned, it's heading towards being a dire need because FI is in the process of applying for disability. He's been to the emergency room 22 times in the last 6 months for severe migraines and something they called cyclical vomiting syndrome. We haven't yet been able to figure out what is causing it, but he has lost three jobs because of it from not being able to go to work. I hope we'll be able to figure out what's causing it soon, but in the mean time, he can't work. We wouldn't be asking his parents otherwise. 

@bmo88 The savings accounts that I've found are through Mango Money and Netspend. Mango Money is 6% interest with a $3/month fee and Netspend is 5% interest with no fee. I think for both you have to do a direct deposit of $500 monthly to qualify for that rate.

JoanE2012

@lbonga1 - I'm sorry your FI is going through this!  Hope the docs figure it out and he gets better soon!  With that knowledge, I'd probably be in pure savings mode until you find out what's going on - then reevaluate.

vlagrl29

lbonga1 said:

I should have mentioned, it's heading towards being a dire need because FI is in the process of applying for disability. He's been to the emergency room 22 times in the last 6 months for severe migraines and something they called cyclical vomiting syndrome. We haven't yet been able to figure out what is causing it, but he has lost three jobs because of it from not being able to go to work. I hope we'll be able to figure out what's causing it soon, but in the mean time, he can't work. We wouldn't be asking his parents otherwise. 

@bmo88 The savings accounts that I've found are through Mango Money and Netspend. Mango Money is 6% interest with a $3/month fee and Netspend is 5% interest with no fee. I think for both you have to do a direct deposit of $500 monthly to qualify for that rate.

I'm so sorry.  That must be very frustrating to not know whats causing it.  Hope you guys find answers soon.  In this case I can see why moving in to the parents house would be an option.

lbonga1

Thanks, we thought we had it narrowed down to a gluten sensitivity/allergy, but then it started getting worse again. I think it's probably a combination of things causing it, so that's why it's been so hard to pin down.

blondie42107

@lbonga1
I hope you guys get some answers soon! Hang in there!

bmo88

@lbonga1: After reading your update, I am sorry to hear about the bad health. But that would definitely drive me to want to find a LCOL or MCOL area. If his future employment is uncertain, being in a cheaper area could really help with financially stability and stress. Just something to think about.

AprilZ81

Are you sure that when your loans are in deferment that they are NOT accruing interest?  I've had loans in deferment before while I was in school and the loans still accumulated interest but I did not have to make my normal monthly payment.

Because the payment amount was small and I didn't want to pay more interest than I needed to I elected to continue paying each month even though I didn't have to.

simplyelise

After you pay everything necessary for the month and the minimum student loan amounts for the unsubsidized loans, how much extra will you have?

I wouldn't let the 5-6% interest accounts have much bearing in my decision making. For only 18 months it doesn't really swing the need for me. You're talking about maybe $1500. 

I think it makes more sense to pay down the loans and I'd probably focus on the interest-accruing loans. Are you cashflowing school right now? I think with the amount of uncertainties about what job you will get, what you will be making, whether they might provide some relocation assistance, and what your H is going to be able to do if his medical prognosis improves, I just like the certainty of paying off the loans and reducing your risk that way.

I second the idea that maybe you take another look at relocation options. I don't know how much value you place on being close to family, but even a compromise of looking at Arizona/Utah/Oregon could keep you within a days drive of family while significantly lowering your cost of living and maximizing your dollars earned.

hoffse

I just got caught up on this thread.  $525K for a 2 bed/2 bath condo kind of blows my mind.  We paid just under $300K for our house.  It's 4 beds/3 baths, finished basement, separate family and living room.  We are in a good school district - actually rated better than nearby private schools - and we can walk to a nice grocery store, movies, restaurants, etc.  In traffic, work is 15 minutes away.  We can make it in 9 minutes without traffic.

The area we live in isn't particularly LCOL either, at least not for this area.  We could have gotten a significantly bigger house for that money if we had been willing to move further away from our work.

$525K here would buy you one of those seriously cool old southern houses with the original woodwork and huge front porches.  4 beds, 2 1/2 baths, fireplaces in the bedrooms, built-ins, pajama stairs, and possibly a guest/rental apartment over the garage.  You wouldn't be in a great school district, but property taxes are almost nothing.

I know being near family is important, but California real estate is just crazy out of whack compared to much of the rest of the country.  If health costs are going to be a big unknown going forward, you really might want to consider being in a part of the country where your housing isn't going to eat up such a huge chunk of your budget.

julieanne912

H is in the tech industry, and his company is based in Boise, ID of all places.  So, I agree that maybe looking around to other Lower COL areas might be a good option for you.  Our area isn't LCOL by any means (most tech jobs are either in Broomfield/Boulder or downtown), but it's certainly better than the Bay Area.... $525k would get you a very nice house in a good school district around here (not in Boulder, but close enough).  I get the whole not being close to family thing, but if you're going to put a huge financial strain on yourself just to be close... it may not be worth it.

We've actually had this conversation a few times, what we would do if he got a killer job offer in the Bay Area.  He has said he would turn it down, unless it was like double what he makes now (which wouldn't happen) because our quality of life would go down significantly with a move there, even though my family is in CA (Fresno area).  He's in a niche field, not software development, but he said he receives recruitment calls from the Bay Area, Austin TX, and Seattle area most often.  

As for your student loans... can you consolidate those?  I did that after I was finished with school and my rate on my federal loan is ridiculously low... under 2%.  

short+sassy

hoffse said:

I just got caught up on this thread.  $525K for a 2 bed/2 bath condo kind of blows my mind.  We paid just under $300K for our house.  It's 4 beds/3 baths, finished basement, separate family and living room.  We are in a good school district - actually rated better than nearby private schools - and we can walk to a nice grocery store, movies, restaurants, etc.  In traffic, work is 15 minutes away.  We can make it in 9 minutes without traffic.

The area we live in isn't particularly LCOL either, at least not for this area.  We could have gotten a significantly bigger house for that money if we had been willing to move further away from our work.

$525K here would buy you one of those seriously cool old southern houses with the original woodwork and huge front porches.  4 beds, 2 1/2 baths, fireplaces in the bedrooms, built-ins, pajama stairs, and possibly a guest/rental apartment over the garage.  You wouldn't be in a great school district, but property taxes are almost nothing.

I know being near family is important, but California real estate is just crazy out of whack compared to much of the rest of the country.  If health costs are going to be a big unknown going forward, you really might want to consider being in a part of the country where your housing isn't going to eat up such a huge chunk of your budget.

My H bought one of those when he lived in B'ham about 20 years ago.  I don't know how much it was back then, but it is seriously GWTW Tara-like.  And in all our time together, I don't think he has ever said one nice thing about that house, lol.  He just calls it the biggest money pit ever.

I ooh and aah over the huge, gorgeous Southern columns in front and he talks about how they desperately need to be replaced because of termite damage.  Its on the Historical Registry and he complains that just meant people got to tromp through his house 1-2x/year, lol.  Though apparently the tax breaks are impressive.

But, yeah, it is crazy how drastically real estate differs for different areas/cities.  The biggest reason I am glad I moved from So. CA to NOLA all those years ago.

hoffse

short+sassy said:

hoffse said:

My H bought one of those when he lived in B'ham about 20 years ago.  I don't know how much it was back then, but it is seriously GWTW Tara-like.  And in all our time together, I don't think he has ever said one nice thing about that house, lol.  He just calls it the biggest money pit ever.

I ooh and aah over the huge, gorgeous Southern columns in front and he talks about how they desperately need to be replaced because of termite damage.  Its on the Historical Registry and he complains that just meant people got to tromp through his house 1-2x/year, lol.  Though apparently the tax breaks are impressive.

But, yeah, it is crazy how drastically real estate differs for different areas/cities.  The biggest reason I am glad I moved from So. CA to NOLA all those years ago.

Lol, yeah they can be - just like any old house!  They're pretty much all 100+ years old now, so the ones that haven't been internally updated always have something that needs to be done.

Now in the $700-$800K range you can get one that's had the guts updated.  So you have good electric and good insulation, but also that amazing crown molding and the built-in linen drawers in the upstairs hallway.  Oh and pocket doors.  And clawfoot tubs.  And an honest-to-goodness library that's separate from the living room and dining room.

What I love most about them are the huge porches.  They were all built before central A/C was a thing, so the houses are designed to be as cool as possible.  Quite a few of them still have the original sleeping porches on the side, plus there's the huge front porch that's incredibly deep. 

Not going to lie, I would absolutely love to take one of those houses and do the updating in one fell swoop.  H and I have talked seriously about doing that for our forever house, once our student loans are done.

lbonga1

Thanks for all the advice ladies!

@AprilZ81 according to the federal student loans website, if you apply for deferment and are in school at least half time, the government will pay interest on any subsidized loans, but not for unsubsidized or private loans. And it doesn't kick in automatically; you have to request it.

@simplyelise Right now for school, I am cash-flowing + my mom is covering anything I can't cash-flow at 1% interest. She didn't want me to have to take out any more loans, and she doesn't expect me to start paying her back until I'm done with school. According to my income based repayment plan for my loans, I don't make enough to even have a payment. So without including rent/utilities, at my current income, we have about $1850 left over after deducting necessary expenses. Unfortunately, in our area there's a limit on how many people can live in certain sized apartments (1 bedrooms are capped at 3 people). That leaves us with a 2-bedroom starting at $1650/month, with the price increasing 6-10% each year. Hence our current dilemma. We've been on a waiting list for 'affordable housing' for two years, and there's currently 3 people ahead of us. Our name came up for a 1-bedroom, but since we now have 2 kids, we were disqualified. Luckily we put our name down when we did though; current wait times are anywhere from 5-10+ years!

We do have an open mind to moving to lower COL areas, though if I do go back to work for the previous company I mentioned, I would definitely put up with the HCOL. It's honestly the best company I've ever worked for, and I know I would be very happy working there long term. I also know what their entry-level developer pay is, and it more than compensates for the HCOL. Once FI gets better, he's going to go to school for auto tech, so he'll be able to find work pretty much anywhere. 

When we spoke to his parents last night, they brought up that they were thinking of helping us with a down payment for a house in order to keep us close (they don't want to be far away from their grandkids). They hadn't brought this up to us before, so we were both pretty surprised to hear it. They said they're going to think more about us moving in with them, so I guess we'll see what happens.

short+sassy

hoffse said:

short+sassy said:

hoffse said:

My H bought one of those when he lived in B'ham about 20 years ago.  I don't know how much it was back then, but it is seriously GWTW Tara-like.  And in all our time together, I don't think he has ever said one nice thing about that house, lol.  He just calls it the biggest money pit ever.

I ooh and aah over the huge, gorgeous Southern columns in front and he talks about how they desperately need to be replaced because of termite damage.  Its on the Historical Registry and he complains that just meant people got to tromp through his house 1-2x/year, lol.  Though apparently the tax breaks are impressive.

But, yeah, it is crazy how drastically real estate differs for different areas/cities.  The biggest reason I am glad I moved from So. CA to NOLA all those years ago.

Lol, yeah they can be - just like any old house!  They're pretty much all 100+ years old now, so the ones that haven't been internally updated always have something that needs to be done.

Now in the $700-$800K range you can get one that's had the guts updated.  So you have good electric and good insulation, but also that amazing crown molding and the built-in linen drawers in the upstairs hallway.  Oh and pocket doors.  And clawfoot tubs.  And an honest-to-goodness library that's separate from the living room and dining room.

What I love most about them are the huge porches.  They were all built before central A/C was a thing, so the houses are designed to be as cool as possible.  Quite a few of them still have the original sleeping porches on the side, plus there's the huge front porch that's incredibly deep. 

Not going to lie, I would absolutely love to take one of those houses and do the updating in one fell swoop.  H and I have talked seriously about doing that for our forever house, once our student loans are done.

Sorry to go off topic, but I need more house porn.

When my H and I first moved in together, we rented part of an old mansion on Esplanade Ave. that was built in the 1850s.  It had 16' ceilings with hand carved crown moldings.  Every room had one of those gigantic chandeliers in it with hundreds of crystals.  The front rooms could either be one giant room or there were 14' high pocket doors that would close them off.

Best of all, the two front windows that were almost floor to ceiling could be opened from the bottom above our heads and make a doorway onto the big, deep front porch.

I loved that place!  I swear I would still be living there, except our landlady needed to fix the foundation or raise the house (something like that) and she needed the part of the house we were living in to be vacant during that time.  So we had to move out .

brij2006

I would focus myself in these areas as follows:

1. Cash flowing current school expenses and tuition.  Not taking out any additional loans, including any loans to your mom.  Owing a family member is almost worse than owing a bank.  Thanksgiving dinner tastes different when the person across from you owes you money.

2. Start from smallest to largest debt and chuck every penny possible toward it.  If you can get away with living with his parents, then do so.  However, have a plan with it.  How long will this be for? What all will you guys cover as far as expenses or upkeep?  Lay all of it out there before moving in with them.

3. Really look into ALL of your options for future employment.  The bay area may sound wonderful, but in the end is it really where you want to be?  If your FI is unable to find employment, then what? Does he stay home with the kids? Will he be a SAHD and you are the breadwinner with your tech degree?  Is that doable in the Bay area with a mortgage payment, taxes, and other costs associated with a HCOL area?

I would really look at everything.  Mostly, what does your family want?  You call him your FI.  Are you intending to get married any time soon?  Will there be the cost for a wedding that should be saved for as well?  

I personally recommend to not combine finances until married, but that's just me. It keeps things much cleaner.

brij2006

hoffse said:

short+sassy said:

hoffse said:

My H bought one of those when he lived in B'ham about 20 years ago.  I don't know how much it was back then, but it is seriously GWTW Tara-like.  And in all our time together, I don't think he has ever said one nice thing about that house, lol.  He just calls it the biggest money pit ever.

I ooh and aah over the huge, gorgeous Southern columns in front and he talks about how they desperately need to be replaced because of termite damage.  Its on the Historical Registry and he complains that just meant people got to tromp through his house 1-2x/year, lol.  Though apparently the tax breaks are impressive.

But, yeah, it is crazy how drastically real estate differs for different areas/cities.  The biggest reason I am glad I moved from So. CA to NOLA all those years ago.

Lol, yeah they can be - just like any old house!  They're pretty much all 100+ years old now, so the ones that haven't been internally updated always have something that needs to be done.

Now in the $700-$800K range you can get one that's had the guts updated.  So you have good electric and good insulation, but also that amazing crown molding and the built-in linen drawers in the upstairs hallway.  Oh and pocket doors.  And clawfoot tubs.  And an honest-to-goodness library that's separate from the living room and dining room.

What I love most about them are the huge porches.  They were all built before central A/C was a thing, so the houses are designed to be as cool as possible.  Quite a few of them still have the original sleeping porches on the side, plus there's the huge front porch that's incredibly deep. 

Not going to lie, I would absolutely love to take one of those houses and do the updating in one fell swoop.  H and I have talked seriously about doing that for our forever house, once our student loans are done.

Do it!!!!  Our house is an old Victorian that was a foreclosure and we had to gut and remodel.  I absolutely love it.  The dual staircases, large baseboards and trim, pocket doors, coal burning fireplace, wrap around porch, built in china hutch, floor to ceiling windows, claw foot tub.  Yet we updated it while keeping the charm.  So it has a double sink vanity, large living room, eat in area in the kitchen, formal dining room, and an attached 2 car garage. 

It's in the far future, but I can't wait till we put new siding on it.  We're going to do a smoked blue/grey color and white scalloping on the dormers, and wrap the current front porch wrought iron posts with white columns. Bring it back even more to its original late 1800's charm. The previous owners sided it with all white. :-(  

short+sassy

brij2006 said:

hoffse said:

short+sassy said:

hoffse said:

My H bought one of those when he lived in B'ham about 20 years ago.  I don't know how much it was back then, but it is seriously GWTW Tara-like.  And in all our time together, I don't think he has ever said one nice thing about that house, lol.  He just calls it the biggest money pit ever.

I ooh and aah over the huge, gorgeous Southern columns in front and he talks about how they desperately need to be replaced because of termite damage.  Its on the Historical Registry and he complains that just meant people got to tromp through his house 1-2x/year, lol.  Though apparently the tax breaks are impressive.

But, yeah, it is crazy how drastically real estate differs for different areas/cities.  The biggest reason I am glad I moved from So. CA to NOLA all those years ago.

Lol, yeah they can be - just like any old house!  They're pretty much all 100+ years old now, so the ones that haven't been internally updated always have something that needs to be done.

Now in the $700-$800K range you can get one that's had the guts updated.  So you have good electric and good insulation, but also that amazing crown molding and the built-in linen drawers in the upstairs hallway.  Oh and pocket doors.  And clawfoot tubs.  And an honest-to-goodness library that's separate from the living room and dining room.

What I love most about them are the huge porches.  They were all built before central A/C was a thing, so the houses are designed to be as cool as possible.  Quite a few of them still have the original sleeping porches on the side, plus there's the huge front porch that's incredibly deep. 

Not going to lie, I would absolutely love to take one of those houses and do the updating in one fell swoop.  H and I have talked seriously about doing that for our forever house, once our student loans are done.

Do it!!!!  Our house is an old Victorian that was a foreclosure and we had to gut and remodel.  I absolutely love it.  The dual staircases, large baseboards and trim, pocket doors, coal burning fireplace, wrap around porch, built in china hutch, floor to ceiling windows, claw foot tub.  Yet we updated it while keeping the charm.  So it has a double sink vanity, large living room, eat in area in the kitchen, formal dining room, and an attached 2 car garage. 

It's in the far future, but I can't wait till we put new siding on it.  We're going to do a smoked blue/grey color and white scalloping on the dormers, and wrap the current front porch wrought iron posts with white columns. Bring it back even more to its original late 1800's charm. The previous owners sided it with all white. :-(  

That sounds gorgeous!!!  Yeah, I'm not a big fan of all white either.  Maybe, just for now, you could paint the trim a different color to give a pop of color until you are ready for new siding. 

brij2006

short+sassy said:

brij2006 said:

hoffse said:

short+sassy said:

hoffse said:

My H bought one of those when he lived in B'ham about 20 years ago.  I don't know how much it was back then, but it is seriously GWTW Tara-like.  And in all our time together, I don't think he has ever said one nice thing about that house, lol.  He just calls it the biggest money pit ever.

I ooh and aah over the huge, gorgeous Southern columns in front and he talks about how they desperately need to be replaced because of termite damage.  Its on the Historical Registry and he complains that just meant people got to tromp through his house 1-2x/year, lol.  Though apparently the tax breaks are impressive.

But, yeah, it is crazy how drastically real estate differs for different areas/cities.  The biggest reason I am glad I moved from So. CA to NOLA all those years ago.

Lol, yeah they can be - just like any old house!  They're pretty much all 100+ years old now, so the ones that haven't been internally updated always have something that needs to be done.

Now in the $700-$800K range you can get one that's had the guts updated.  So you have good electric and good insulation, but also that amazing crown molding and the built-in linen drawers in the upstairs hallway.  Oh and pocket doors.  And clawfoot tubs.  And an honest-to-goodness library that's separate from the living room and dining room.

What I love most about them are the huge porches.  They were all built before central A/C was a thing, so the houses are designed to be as cool as possible.  Quite a few of them still have the original sleeping porches on the side, plus there's the huge front porch that's incredibly deep. 

Not going to lie, I would absolutely love to take one of those houses and do the updating in one fell swoop.  H and I have talked seriously about doing that for our forever house, once our student loans are done.

Do it!!!!  Our house is an old Victorian that was a foreclosure and we had to gut and remodel.  I absolutely love it.  The dual staircases, large baseboards and trim, pocket doors, coal burning fireplace, wrap around porch, built in china hutch, floor to ceiling windows, claw foot tub.  Yet we updated it while keeping the charm.  So it has a double sink vanity, large living room, eat in area in the kitchen, formal dining room, and an attached 2 car garage. 

It's in the far future, but I can't wait till we put new siding on it.  We're going to do a smoked blue/grey color and white scalloping on the dormers, and wrap the current front porch wrought iron posts with white columns. Bring it back even more to its original late 1800's charm. The previous owners sided it with all white. :-(  

That sounds gorgeous!!!  Yeah, I'm not a big fan of all white either.  Maybe, just for now, you could paint the trim a different color to give a pop of color until you are ready for new siding. 

Lol.  It's 2.5 stories tall and there's a lot of trim.  That's one project I won't try to tackle. It's also aluminum siding, so not sure how I would have to paint that to avoid it flaking.  Still something I'm not willing to do though.  

Here's a picture of the outside of our house.  It's so sad that they chose all white on everything.  It would have made such a big difference to have done some color. 

short+sassy

I see what you mean!  That is a lot of trim, lol.  And not that easy to get to.

But, wow, what a beautiful house!  I love it.  I'm a big sucker for an old house with a lot of character.

I actually have an aluminum awning across the entire front of my house that my H painted a few years ago.  We used a really good quality exterior Sherman Williams paint, but didn't have any problems painting it and so far, so good.  It hasn't flaked and is just as brightly colored as when he first painted it...even with the devil Louisiana sun beating down on it all day long.