The end of a long commute

[Ironheadspearo]

For nearly 10 years i have been commuting just shy of 100 miles per day to and from work as well as most weekends. I have went through numerous cars over this timeframe, several new cars as well as some beaters I purchased just to attempt to save some miles off of the new cars. well in december we sold our house and 2 weeks later made a deal on a new house which is only 6 miles from my job. I have to say that buying the camaro had alot to do with my decision to sell. I couldn't stand to see the miles piling up on the car so I had quit driving it on weekdays. all the while gas prices going up and i had heard that gas was going to get silly again so i decided to cut our losses and sell at market value. anyway now i will be able to drive my camaro every day if i want or ride my harley or bicycle for that matter. this will allow me to keep the camaro till it is paid for and many years after because the mileage will be silly low per year. also my mother lives close by and being she is getting up in age 70 I will be able to visit her alot and that also was an important factor in this move. I have to say though that the desire to keep this car for many years gave me the push to make this all happen.

[ZED SLED]

Congrats! I need to do the same thing at least 600 miles south to get away from these friggin' winters.

[RatRacer]

I hope the hit wasn't as hard as it would be down here, and at least you were able to sell it. They sound like solid reasons to relocate in this market, so good luck with the new homestaed.

[Ironheadspearo]

Originally Posted by RatRacer

I hope the hit wasn't as hard as it would be down here, and at least you were able to sell it. They sound like solid reasons to relocate in this market, so good luck with the new homestaed.

I was fortunate to have bought in 2001 so i did have some equity, not alot but enough to make a move. the way I looked at it was everything is relevant anyway. selling low also means buying low. intrest rates are really good right now. I am locked into 4.875% for 30 yrs which from what i hear might be a thing of the past within 5 years when the government stops backing loans. the time to buy is now if you are in the position. i dont think the price can go any lower and the rates are about as good as they can get.

the amount i will save in gas spending at todays rate between me and my wife is going to be around 600.00 a month. my new house is 600 sq ft larger and my payment is 260 a month more. to me it is a win win all the way around and now i am not cringing when gas goes stupid high

[Havok]

Damn I wish I only had to commute 100 miles a day.

Edit: NVM I see you mean 100 miles each way. I only drive 70 miles each way so round trip its 140.

[Ironheadspearo]

Originally Posted by Havok

Damn I wish I only had to commute 100 miles a day.

Edit: NVM I see you mean 100 miles each way. I only drive 70 miles each way so round trip its 140.

90 miles round trip
45 each way

if you are driving 140 miles round trip and you are not being compensated for the mileage i would consider doing the math on a move if possible.

[RatRacer]

Originally Posted by Ironheadspearo

I was fortunate to have bought in 2001 so i did have some equity, not alot but enough to make a move. the way I looked at it was everything is relevant anyway. selling low also means buying low. intrest rates are really good right now. I am locked into 4.875% for 30 yrs which from what i hear might be a thing of the past within 5 years when the government stops backing loans. the time to buy is now if you are in the position. i dont think the price can go any lower and the rates are about as good as they can get.

the amount i will save in gas spending at todays rate between me and my wife is going to be around 600.00 a month. my new house is 600 sq ft larger and my payment is 260 a month more. to me it is a win win all the way around and now i am not cringing when gas goes stupid high

Good. Looks positive all around. I bought a 6 mos old short sale in 2003, when the upswing was starting to gain headway. But through equity add ons and strategic refi's, I'm down to 18yrs left and about even equity still.

[motorhead]

Congrats! There's a lot to be said for living close to work. I'm only two miles from the shop. I couldn't image a commute that long.

[Havok]

Originally Posted by Ironheadspearo

90 miles round trip
45 each way

if you are driving 140 miles round trip and you are not being compensated for the mileage i would consider doing the math on a move if possible.

I could afford it, but first I wanted to pay back my student college loans, and then I wanted to pay off my Camaro loans. I probably could have been able to pay for an apartment down here, but I wanted to save some money up while paying the loans. Now that I'm done I'm thinking about whats next (in terms of moving out and or saving up to buy a house/go back for masters etc).

The good thing about my commute is I go opposite of the traffic so I'm never really stuck in traffic. Bad thing its an hour both ways and I rather not be commuting an hour before work nor after work.

[daveagogo1]

Nice. I'm driving 65 miles per day but well worth it to me as we got twice the house for half the price summer 09'

[Ironheadspearo]

65 isnt too too bad but add another 30 per day to that. if gas goes to 4 or 5 bucks it will hit you hard.

[FastEddie]

Awesome move all around. Glad to hear that the Camaro has been the impetus for a positive change in your life. The way that gas is, pretty soon people will be at the blood bank in order to afford gas.

[wylde1]

Congrats! it's amazing how much you save when you really run the numbers. I work at a mine about 75km's out of the city, and our big gas saver is the carpool. There's 4 of us, so we each take a week of the month and rotate. it's probably saving us 300-400 bucks a month on gas. which is really something that surprised me when I actually crunched it out.

With your new gas savings it'll be like your mortgage is even smaller compared to your old place. Sounds like you guys down south are hitting some good interest rates too. We just moved into our first home a few weeks ago and we got one of the better rates I've heard of for a while. 3.79% locked for 5 years. if you try to lock in a longer term say 10-15 years it jumps to 6.5-8% and up. So under 5 for 30 sounds like a great deal.

the carpoolers don't like the camaro though haha 3 of us are 6ft+ 200lbs so the back seat for 90 mins a day is a bit unpleasant. But I get to drive so I never endure the punishment haha. They made me get a different vehicle if I wanted to stay in the carpool haha

[EMB135Driver]

All these commutes seem short.....my commute one way is about 1000 miles....Glad I only do it once a week, and I don't have to drive or pay for the fuel. I spend most of it asleep actually.