 Does anybody has tips for first time home buyer who has filed bankruptcy? |
| I am in the market for a new home and earn 30k a year i live in the state of illinois.... |
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 Will my house price decrease by turning a small bedroom into a bathroom? |
| I have recently purchased a terraced property where the bathroom is downstairs, upstairs there is 3 bedrooms although one is quite small and located off the main bedroom, if I turn this into an ... |
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 Does a washer and dryer typically stay with the home when you buy a house? |
| the realtor said he was gonna ask if the owners to leave the appliances. does this include the washer and dryer? he really only talked about the kitchen appliances so i was ... |
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 I was mislead by my realtor was what they did illegal? |
| I recently entered into a contract to purchase a home. When we made an offer my realtor talked me into raising my bid because she said there was already one offer being presented at the same time as ... |
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 My apartment lease forbids installation of air conditioning units? |
| Does this include portable air conditioning units? There is no installation or change to the walls or windows. Electricity is included in my rent.... |
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 Is it possible to buy a house on benefits? |
I have heard that it is possible to buy a house on benefits, is this true?
Additional Details
My rent is £825 per month. Housing benefit pays £700 of this leaving me a short fall of £1... |
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 Are you worried about not owning your own property? |
Hi
For those of who who aren't on the property ladder yet do you worry about not owning your own home?
I worry because i'm 26 my boyfriend is 27, we have a baby and ... |
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 What rights do i have as a tenant? |
| For example: the landlord/housing association coming in to rewire house. And my decorating will be defaced. Am i entitled to compensation?... |
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 Is it necessary....? |
| My husband and I plan on starting business in real estate investments. Is it completly necessary for us to have a professional business plan written up in order to receive funding?... |
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 My landlord lives in a flat underneath me as i am not working the dss pay some of my rent? |
| if it is late or changes he waits for me to go out or come in and demards tha i sort it out stright a way some times if i turn on a tap or flush the loo he bangs on my demarnding i see him if idont ... |
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 Eviction of tenant, UK law? |
| I have a tenant whio has missed payments for the past 2 years although they do 'catch up' eventually. I presume I have to give them 2 months notice to leave. If they ignore this, what is ... |
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 Tenancy Agreement? |
| We recently took a tenancy agreement up for six months. However, our life is being made hell by a neighbour and we want to move as when we signed the agreement we had no idea that the music would be ... |
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 Removing a "crasher" from house? |
| We own a vacant house that is on the market. We let a guy stay there for a couple of months rent free for doing some very minor yard work that took two days. Now, he's partying there and ... |
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 The real estate market is pretty good right now. Do you think in a year from now the house prices will? |
| sky rocket? I would love to buy a house this year since the market is so good, but I must wait. I am worried that by next spring/summer the cost of housing is going to be a lot more expensive. What ... |
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Mandelion | Is buying a house really better than renting if it means you'll have less disposable income to save? |
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Neenuh
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Comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rental payment. There are many variables for you to consider - expenses involved in owning a house - such as property taxes, maintenance and repairs. If you pay too much for a house, your expenses will be greater than your current rent. In the end, a house would be costing more money than renting.
It all boils down to how much you can afford to spend. Many people say the rule of thumb is you don't spend more than 30% of your household income in a place, whether rent or mortgage. So if you're earning 3k a month, your rent (or mortgage, if possible) should be around 1k. With other bills, food, insurance, car payments, and other fixed life expenses, you don't want to be left with minimal disposable income.
Remember, you want to be able to save at least 10% of your disposable income. If you can do that, even with your mortgage and all the other expenses that go with keeping a house, and not feel like you're scraping the barrel just to own a house, then buying is a better option. |
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angeltini05
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Of course its better. You may not have money right now, but in the long run your house will build equity and you can refinance your house and pay alot of debt off,make repairs on your house or take a vactaion. You can earn alot of money just in equity. the only thing you really need to be careful with is finding a real good area were your equity will grow. Growing developments are always great. hope this helps! |
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Pablohippie
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Yes its better. A house is an investment. |
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electricbarb27
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That's a tough one.
There are lots of things to consider with both renting and owning and you need to decide which works best for you.
With renting the appliances are already in the unit, cabinets, flooring, plumbing etc. where as with some houses you might need to buy those items yourself. If there are issues you can call maintenece to repair the items at no charge (unless due to negligence) home owners must contract outsiders to repair applainces etc themsevles out of pocket if they can't fix it themselves.
With ownership you get to make alterations to the home, where apartments you will have to deal with linoleum when you prefer tile. You also have to deal with more neighbors sharing space than if you had a home as well.
Some apartments will pay water and sewer for you, but then many don't. However apartments don't tax or have homeowners dues. They also have landscapers to keep up the place where you have to water your own lawn. Yet apartments have heavy restrictions on having plants of your own and personal items.
Its a give and take on both. I work in property management, and I've been renting at places or living on sites where I work, and I see the pros and cons.
If you want a medium, you can also go the condo route, but really its a matter of what you want to do, what you would be able to do and what you can afford.
There is no right or wrong answer to this question. |
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hpasi923
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You have to look at your total picture house appreciation, tax savings, current level of savings, savings goal.
I believe everyone should own a house, but I also believe not everyone can own a house today, some today some tomorrow some next year etc.etc
really take time to learn about home ownership it pro's and con's.
shoot me an email I can give you some good websites to start with. |
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Toise
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Of Course! Sit down and look at the numbers.... If you pay $1,000/mo for rent and if you buy a house you pay $1,500/mo for $500 more you OWN your home, you have more freedom, and interest & taxes of your home are tax deductable. Buying a home and making your payments on time will increase your credit also. There are tons of advantages for buying your own home. |
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iceman
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Yes of course. As long as you can decent interest rates. You will always be building equity in your home. Unlike giving it all to some landlord....
The dispoable income you would be saving by renting is going into your house rather then savings account. And getting a much better return. |
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lilbree321
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buying gives you credit |
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Drujon
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If you can save enough to put downpayment on a house, and also have an emergency fund left over you should look into buying a house. try getting less of a house were the payments will be about the same as renting, or get a roommate. |
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jairorod64
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Dear friend.
the term buying a house is not appropriated, house is an investment so that's mean you put your money to work.
You buy a car,watch,clothes but when becomes to a home is an investment. |
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Carl
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Its a yes and no answer. Any potential buyer need to examine their own market place ,their own finances and their over goals. While the raw land that the home sits on never looses value, you need to have a long term strategy.Many people dont plan for retirement, but buying a home now can help give you something to show for in your golden years.With the rate fo foreclosures on the rise many banks have tighten up alot of the easier loan programs. Check your own credit first to know where you stand. Go to each bureaus separately,Equifax,Transunion, Experian, view each report with the score one by one , never do a three in one report. Which ever is the mid score is a good gage to know if you can get a decent loan. If your below 640 you may want to wait. There are loan programs for under a 640 score but the rates are high and if your on a budget you may have difficulties in keeping up. Figure out a budget for a house payment that you can afford along with your other expenses. Take your time in everything and do your home work.If you can buy now rent ,its OK . But don't stop in working to getting your own home because years later down the road you ll be glad you did.Invest in your future. |
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