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jdcfsu
Veteran Member
 
Join Date: Jun 2006
Location: Florida
 
2007-03-15, 21:37

There is a ton of great information here. Thank you to everyone that has commented so far.

I do live in Florida so insurance is a major issue which I hadn't considered. I want to remain here in the Orlando area so flood insurance and some of the hurricane insurance shouldn't be a problem (though the state of Florida's insurance could be a thread in and of itself) though I still need to start thinking in terms of that as well.

As far as type of place, I can see value in a condo/townhome in that it'd be just about all I need, but the condo/HOA fees around here can get ridiculous. If I'm going to get a house, it'd be probably a 2 bedroom bungalow type place.

Some of the comments made about mortgages here are interesting. I remember a college class I took once telling us to avoid ARMs, especially now that the rates are going up. Though, one thing I had never heard/thought of is the 75-100 year mortgage. It makes a lot of sense though even knowing I wouldn't be there for more then 5 years or so it would be damn scary signing something with that kind of "commitment."

An older, wiser friend of mine told me to "always buy a little more house then you can afford." Do any of you give weight to this? Is this solely for when you turn around and sell the property down the road?

Again, thanks for all the advice given so far.

90% of statistics can be made to say anything 50% of the time.
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