# What did you pay for your 1st house?



## r82230 (Mar 1, 2016)

What got me thing about this was my wife's response to a question she ask the other day.

Here is the background: I was getting my car repaired at a local GM dealer ship (hold your comments, please, I kind of live in GM country). They gave me a loaner vehicle to drive, the guy ask if I cared if it was a 'truck'. My answer I didn't care as long as it had some leg room (at 6' 4", you soon learn to ask that question, after driving a clown vehicle once or twice ). Well he put me into a brand new (10 miles on it, when I got into the pilot's seat) GMC Canyon  (step sibling of the Chevy Colorado). I believe it's called a 'Mid-size Pickup'.

Pretty standard vehicle, not a lot of options on it. You definitely wouldn't call it loaded by any means. Now to the wife's question, "What's the sticker price on that thing?" Well...................................... would you believe almost $43,000!! To which she responded, that's a lot more than we paid for our first house, hence my question.

Full disclosure - our 1st house was a simple just over 1,000 sq ft, 3 bedroom, one bath (no garage) on what we call a 'crawl space' here in Michigan, on a lot in a small sub-division. It was an FHA house (built in the 70's I believe), were they had to be built in the country up to a certain size (I didn't use FHA, had a conventional mortgage, BTW). We paid a whopping $27,500 for it, but I'm going to age myself here. It was during the peanut farmer era (1979 to be exact), our fixed interest rate was 11.25%!!!. :angry:

I had a farm loan about the same time, where I learned never have a variable rate long-term loan again (started at 8.5%, was at 13.25% within a couple years, ouch! ). That loan was via Federal Land Bank (one of the fore-runners of FCS today, for the younger readers).

Now, people are paying A LOT more for vehicles than we did for our 1st house, seems surreal.

Larry


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## glasswrongsize (Sep 15, 2015)

Paid 31 kilobucks fer my first mansion. 1800 sq feet on acre with detatch 2-car garage with overhead hoist and a well. That was in '95

Good question Larry...might add to inquire year house was purchased. Prolly couldnt buy an 1800 sq ft house for 30k HERE/NOW unless the fire department wad just leaving


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## hillside hay (Feb 4, 2013)

15k


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## Tx Jim (Jun 30, 2014)

In '73 paid $21K for a 3 bdr ,2 bath(1320 sq frt)attached 2 car garage built on 3.3 acres my Dad/Mom gave me. In '80 I paid my ex-wife $18K for her 1/2 interest in house/land.


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## Farmerbrown2 (Sep 25, 2018)

In 2007 on an auction we paid $143,500 for 1940’s three bedroom 2,200 sqf single home on double lot with two car garage in town which at the time was a pretty good price. Put about $25,000 into it went through the housing bubble put it on the market 5 years later for $150,000 . So ends up the person I outbid still wants the house and gives us an offer of $140,000 we almost took the offer. So my wife calls the realtor to tell her we will take the offer secretary says she’s on the phone will call you right back. Turns out the cemetery behind our house wants to buy it for future expansion. So some bidding back and forth ended up getting $155,000 from cemetery both parties said they where at there final offer 154 and 155 respectfully. Now the losing bidder is pissed they lost the house twice and tried to take legal action against the realtor and us but didn’t have a leg to stand on.


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## SCtrailrider (May 1, 2016)

Well our first was a 2 bed trailer back in 83 new for 12K, 5 yrs later we built around it inside & out, 15K.. now it sits in the middle of 45ac, all paid off clear and free, priceless....


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## somedevildawg (Jun 20, 2011)

In '82 I paid 32k for a small three bedroom house detached wash room, no garage, 1/3 acre In a decent neighborhood.....the demographics changed in the neighborhood quickly once one house got sold to the right person and down hill it went from there......sold it in '86 for 26k and was glad to get it, I wasn't the last to sell mine or it woulda been less


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## Uphayman (Oct 31, 2014)

In my senior year of high school (1974) I had a trades class where we built a home. Most useful part of my education. At 19 started knocking down timber for building an A frame 1750 square feet. 80 white pine and 16 cord of white cedar. Did as much construction as I was able. About $40 K invested plus my time. Carpenters got $5/ hour. Got ripped by the mason.....$10/ hour. Took a year, but got it done.
Sure glad I built when I did. Guess I didn't listen very well........to all the people that said you can't do it.


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## glasswrongsize (Sep 15, 2015)

Tx Jim said:


> In '73 paid $21K for a 3 bdr ,2 bath(1320 sq frt)attached 2 car garage built on 3.3 acres my Dad/Mom gave me. In '80 I paid my ex-wife $18K for her 1/2 interest in house/land.


Well crap! I only stated what I paid for the house the FIRST time; I also got the benefit of paying for my house a second time.



Uphayman said:


> In my senior year of high school (1974) I had a trades class where we built a home. Most useful part of my education. At 19 started knocking down timber for building an A frame 1750 square feet. 80 white pine and 16 cord of white cedar. Did as much construction as I was able. About $40 K invested plus my time. Carpenters got $5/ hour. Got ripped by the mason.....$10/ hour. Took a year, but got it done.
> Sure glad I built when I did. Guess I didn't listen very well........to all the people that said you can't do it.


Dang good feeling, ain't it?!?! Also built mine in 2010...basement and house. Not a store-bought stick of lumber in the place (sawed all on my woodmizer mill and kiln dried it in a home-made kiln), and paid no labor paid except to run the 7200v power line to the transformer/house (which I also own...can't nobody build near me as I own the power line and easement and I can't allow anyone else to hook on as it's illegal for an individual to sell electricity  ). @18K invested in house (not counting the 95 acres)

Awful THIN times, but now there's NO DEBT!! ...and, NO, it ain't inherited ground; started with nothing and still got most of it!!!!


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## IH 1586 (Oct 16, 2014)

2002 paid $65,000 for my 1st house 3224 sq.ft. 1 car garage, 3 bedroom, 2 bath and 7 acres. Built a shop on it in 2011.

Sold house for $65,000 in 2013, kept 5 acres and shop bought 2nd house for $45,000. 3556 sq.ft. 3 bedroom, 2 baths, 2 car garage.


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## NightFisher (Oct 10, 2016)

In 1975 paid 16K for a 2 bedroom, 1 bath house with 5 Acres on the water.


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## StxPecans (Mar 3, 2018)

Paid 98 in 2011 for 1300sq ft brick home in a subdivison. Current place bought for 385k, 2000 sq ft house on 32 acres with big detached 2 car garage and porch area and a few out buildings with a shed that is decent size but 8.5 foot overhangs that make it about worthless.


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## rjmoses (Apr 4, 2010)

Paid $16K for a 2 BR on a 1/2 acre in Chicago in 1968. Monthly payment on 30yr mortgage including insurance and taxes---(drum roll, please) $128/mo.

Ralph


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