New Balance: $114,964.59 | The Goal for 2010 is to get it under 115,000.00!!!!!! WOOT I finished with a month to spare!!!!!!!!! YEah Yeah!
I knocked another month off the payment schedule!!! My new payoff date if I just pay the minimum for the remainder of the loan is MARCH 2039
If I continue to pay the minimum on my loan, I will pay $113,202.47 in interest (what i've paid, and what I have left to pay), instead of the 116,404.23... Saving me $3,201.76 in interest over the life of the loan thus far... all for parting with $894.19 a little before I had to!
Total Condo Costs:
Money paid to aquire the property and get keys: $7,057.08
Money Spent to Remodel and Repair Property: $17,672.29
Total: $24,729.37
First Time Home buyers Credit: $8,000.00
Current equity: $5,035.41 (not including any change in value the upgrades gave me)
Electrician costs -$95.00
TILE Refund $1,265.00
Current amount in the hole: $10,523.96
Hopefully with December's principle payment, and when i get to see how much I saved by itemizing my taxes, i'll be somewhere in the $9,000 range.
If I sold tomorrow, I'd have to sell the property for 145,000.00 assuming a 6% commission to break even and make money on the property because i'd have to give back the $8,000.00 to the government.
Forgetting the $8,000 i'd have to refund the government if I sold before my 3 years is up, i'd have to sell for $135,000 (assuming 6% commission) to make enough money to recoup all costs. =)
No comments:
Post a Comment