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-   -   Bought our first place! (http://www.wakeworld.com/forum/showthread.php?t=799086)

sidekicknicholas 07-14-2013 9:09 AM

Bought our first place!
 
Like a year or two ago I bugged you guys for some mortgage advice, ended up not buying due to a move to Minneapolis... been here now 8 months now and just closed on our first place!

We were torn between a condo and a single family home (mostly for a yard for the dogs) but found an awesome condo on the first floor with a private patio area (dogs allowed) and pulled the trigger.
I know I shouldn't feel guilty, but the lady we're bought it from bought it 07', and lost almost 50% of the value by selling now. The building actually used to be an old corporate office building from the 90s and then in the 2000s converted into condos. So we have really tall ceilings and huge windows throughout which makes it feel bigger than it is I think.

We're just SW of Minneapolis on 169 and 62 (for the twin cities friends), the best part of moving out of downtown, where we currently are, is we'll have to get a 2nd / new car!

Just thought I would share the excitement - few pics of the place from my 15 mins there the other day

Kitchen / Living / Dining is just one open area
https://sphotos-a.xx.fbcdn.net/hphot...16173253_n.jpg

Super nice bathrooms -
https://sphotos-b.xx.fbcdn.net/hphot...48912734_n.jpg

Sold the boat to buy myself a System2.0
https://sphotos-a.xx.fbcdn.net/hphot...30478775_n.jpg

grant_west 07-14-2013 9:34 AM

Congrats on your new place looks nice. System 2.0 will go over easy with your HOA, I'm sure they would approve it in a second :)

dahmsy686 07-14-2013 5:47 PM

Cloud 9?

Beautiful building and Beautiful apartments. Congratulations!

Great location as well. Close to Lake Minnetonka as well as Downtown Mpls.

Enjoy it!

sidekicknicholas 07-14-2013 7:51 PM

Quote:

Cloud 9?
Bingo!

Quote:

Great location as well. Close to Lake Minnetonka as well as Downtown Mpls.
That was one of the big selling points... I work in Bloomington and my fiance' works downtown (right across the street from Target field), so for central locations we basically had to choose from Edina, Uptown, Richfield, or Longfellow... Edina was too expensive, Uptown's parking sucked something fierce, Richfield was mostly fixer uppers, and longfellow was either nice and $$$$$ or pure **** and affordable.

Hopefully it will be a good fit, and like you said, the building seems super nice. Being it was an old office building it seems incredibly efficient... best part is mortgage + taxes + insurance + HOA = $25 less than our current rent

joeshmoe 07-14-2013 8:40 PM

Very nice! There are places for sale that are cheaper than the money that took to build them, my son is trying to buy a house for 70,000 and in ten years the house will be worth 150,000 and if he rents it out it could bring in $200,000 over 20 years, and then there is his Aunt who sold their house for a quick 50k for what could make her over 200k in 20 years and then have retirement income for another 20 years, but I guess she doesn't need that, and this house was willed to her and would go to my son so I guess it all works out in the end, Good Luck! Enjoy it!

sidekicknicholas 07-15-2013 7:50 AM

My dad sells real estate in my old home town, which is 75% vacation homes from Chicago / Milwaukee.

He told me the other day there was a the following sales that went through -

House that was bought in 06' for 520k. 3900 ft^2, lake front, 4 car garage, 4 bed / 4 bath, and it came with dock, lift, and jetskis that just sold for 280k

another one on a golf course was assessed at 215k, they were asking 195k, and it ended up selling for 95k.....

I'm sure people said this two/three years ago and are eating their words, but I'm glad we're getting in now, don't think its going any lower. If we can sit on this place and could recoup even 50% of what the previous owner lost, we could to add ~60k in equity towards the next place.... fingers crossed.

brycejb328 07-15-2013 10:39 AM

Congrats Nick. Driven by Cloud 9 several times, always wondered what they were like inside. Looks pretty sweet. Slightly more like a over-paid bachelors slam pad... but I am sure it works equally as well for a soon to be married couple.. ha ha.

If you work in bloomington... you'll have to get out with the South side crew some time for an after work shred. Always welcome.

acurtis_ttu 07-15-2013 2:12 PM

Nice place!

but I'm anti condos....you're under rule of the condo association......condo association decides it's time for upgrades.....get ready for an "assement" . Buy asseemnt insurance if you dont' have it.

My brother owns a condo ( vaction home).....his condo fees have almost doubled in 3 years...from $500 mo to currently $995).

sidekicknicholas 07-16-2013 11:59 AM

Quote:

Driven by Cloud 9 several times, always wondered what they were like inside.
Once we get moved you'll have to pop in for a beer or something,
Quote:

you'll have to get out with the South side crew some time for an after work shred. Always welcome.
For sure!... except this summer is already almost dead for me, between moving and wedding prep I have like zero free time, its a pain in the ass. Where do you guys usually ride?


Quote:

.his condo fees have almost doubled in 3 years...from $500 mo to currently $995).
Shhhhh!
No bad Juju.

steezyshots 07-17-2013 9:06 AM

That Kitchen is awesome! Congrats!

sidekicknicholas 07-17-2013 11:22 AM

.... painting has started -
https://sphotos-a.xx.fbcdn.net/hphot...99196390_n.jpg
and moved my first items... what was left of a "Sweet Child of Vine" 6-pack. Anyone who can get their hands on this beer, I highly suggest you do, its the best IPA I've ever had. Brewer's name is Fulton.
https://fbcdn-sphotos-b-a.akamaihd.n...64716338_n.jpg

monkey_butt 07-17-2013 7:28 PM

dog is helping ;-)

seattle 07-18-2013 4:23 PM

Missing a Seahawks flag...;)

sidekicknicholas 07-18-2013 9:05 PM

https://sphotos-b.xx.fbcdn.net/hphot...98975226_n.jpg


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