 Will the increased first home owner grant inspire you to buy property? |
| The Australian government is reportedly increasing the first home owner grant to $14,000. Do you think this will help inflate our economyand do you think you'll be able to afford to buy instead ... |
|
 I need your opinion. I'm leaving my boyfriend, should I buy a house or rent? |
I have been approved for a home loan, It'll be a little tight to buy a home, but I love that more than anything.
I moved to this town to be with my boyfriend, things didn't ... |
|
 Can an apartment complex find out if youv'e been evicted from another apartment complex? |
| My friend lied on his app and said he lived with his father for the past year when in reality he was evicted for non payment at another apartment complex, but this place he's at now has already ... |
|
 If a tree from my property falls on someone else's lawn who is responsible? |
| My parents have a lot of trees on their property, and some of the limbs break and fall off during storms. They frequently fall on a neighbor's property. I was wondering if anybody knows who... |
|
 How can I get out of my lease? |
| my family just got approved for a house on post... if we don't take it now, we may have to wait another long time becuase we would have to go to the bottom of the waiting list again. I have 5 ... |
|
 Im 17 and my parents are asking for £120 a week to rent my room since i dont go to college anymore? |
is this a fair amount to pay or should i be something else?
please answer - urgent!!!!!!
Additional Details
is this too much or should i jus get on with it? im only a retial ... |
|
 Can a city take your property that you own and claim it as theirs even if your taxes etc are up to date? |
We own land, need to remove/tear down the house. City has termed the area light industerial.. can they eventurally claim our 2 lots?
Additional Details
We have mowed and cleaned that way.... |
|
 I raised her rent and she left? |
| I had a tenant who could be a bit annoying but she did pay her rent on time. I had been thinking about raising her rent, but had not done it for fear of rocking the boat...she is on a month to month ... |
|
 What is the Average amount of apartment inspections a year? or even month? does anyone know? |
| I was just wondering if anyone had any idea what the average amount, or number, of inspections was a year for the average apartment complex, Or even monthly average- Because out complex is ridiculous ... |
|
 Two serious questions? |
Question 1: Is there life after chicken soup?
Question 2: Do you know that ducks are evil?... |
|
 Can we evict my mom's boyfriend? |
| The house belongs legally to me. I let my mom live there for free. Since 1996 she has lived there with her boyfriend who pays her rent. They have never been married. Now due to unfortunate events ... |
|
 You think my Landlord is telling the truth? |
| We are renting but our landlord put the house up for sale. She said we can continue to live here but she needs us to let the Realtors bring people in to view the house. Our Landlord SAID for the ... |
|
 My landlord has been charging me the wrong amount of rent.? |
| My landlord says they have been charging me the wrong amount of rent for seven months. Now they say that I owe them for the mistake that they made. They have even added late fees to the additional ... |
|
 Why are upper floor apartments more expensive to rent than ground floor? |
Additional Details
should have put this in the main post, Im referring to 2-4 story residential apartments in the Cincinnati ... |
|
 Should I have to pay half of the utilities? |
| I am moving out at the end of this month. I left for vacation on the 14th until the 19th. Since being back from vacation, I have been staying with my parent's or at my boyfriend's. Before I ... |
|
 Is paying a little more than what's due each month a good or bad idea on a 30 year mortgage? |
Over the course of a year the total amount overpaid would equal roughly one additional monthly payment.
We are currently in year four of a thirty year mortgage but don't intend to ... |
|
|  |
rreyesaf82 | Is it smarter to buy or rent a home? |
In an rented home, you wouldn't be responsible if the A/C gave out or to roof needed fixing, right. But when you buy a house, your not throwing a payment away never to see it again. When you sell the house, you'll get that money back, or atleast most of it. |
 |
 
Mephistopheles
|
Always buy, you will never loose in the long run. |
|
aprilc232
 |
Buying a home is a great investment. As long as you keep up the maintenance on it, you can get your money back easily and still have a profit when you sell. Location is a major factor in the value of a home. You don't want to put $1000's into a home in a very run down area of town. You won't get a good return on your investment. Check out the homes for sale in your area. See what they are going for and then find one that is suitable to your budget. Good luck! |
|
Sterling
|
Buy. You gain credit called equity that is great and you have to carry homeowner's insurance. Basically if anything happens that isn't your fault, your insurance covers it. Plus, have you ever gotten your security deposit back? |
|
HuNTeR
|
Buy with mortgage. Pay like rent for the house you buy. In some systems you can buy another house and move the mortgage to it as if you payed for it from the beginning. |
|
qw234
|
That depends on your needs. Do you plan on staying for more than 10 years? Do you have a family, pets, etc? Are you capable, financially able, and willing to do the home maintenance? What if you landlord is a slime and doesn't fix things?
Everyone has different needs. |
|
Suspended
|
I know everyone says it's better to buy. But if you are planning on moving in the near future (like if you're still in college etc..) it's better to rent until you get settled where you plan to stay awhile, because once you buy a house you can't just give notice and move. You have to sell it. It can be a hassle (if you have lots and lots of money it wouldn't be an issue I guess) |
|
Sal G
 |
If you buy a house, you usually get a 10 year warranty on the structure and a 1 year warranty on everything else (check with the builder!). Renting a home or apartment gives you flexibility to move every six months to a year. A home allows you to build equity and there are some tax breaks you can take advantage of.
Homeowners also get discounts on insurance, etc. |
|
polliwog81
|
Buy.
Think of it this way, either way you are paying the mortgage. If you buy, it's your own. If you rent, it's your landlord's. |
|
jimdamailman
|
if you don't want to fix anything, rent. If you want your money to go somewhere buy. when you buy you can get a home warranty and make it cover most of the things in a house, even the a/c. |
|
dweave93
|
buy |
|
W. E
|
Buying is always better - you can take off the mortgage interest - at tax time. You are buying and not paying your landlords mortgage.
Other things to consider:
When you Decide to buy, decide on how much you want to spend, if you want to escrow the taxes and insurance. Say the taxes are 1200 a YR and insurance 800 a year (just an estimate, ok) That is 2,000 a year divided by 12 = 166.66 If you paid 1,000 a month now - (166.66) your P/I Principle and Interest would be 833.34. Now you decided on the price range you are looking into. If you have great credit, a 1 loan at 130,000 at a rate of 7 percent over a 30 year time would be 864.89 - This is just a estimate - ok -
It greatly depends if you need help with closing cost, (The seller could do Seller Help toward your closing cost). If that is the case, I normally tell my clients NOT to hackle over the price, since you are asking for closing cost help - especially if the home is thru a realitor, and the seller has to pay the realitor their fee which runs from 3-6 percent of the selling price, and you ask for 3-5 percent toward closing cost -assistance) Follow me so far??
Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.
Try to find someone (broker) that will pull your credit one time, and submit your loan application to company's that will go off his credit report. By the way, a loan application is called a 1003, and they will issue you a GFE (Good Faith estimate, with-in 3 days, that is per the RESPA laws, and the TIL (Truth in Lending). The GFE will tell you the up-front closing cost associated with your loan. The TIL will tell you the terms, rate associated with your loan. This is a estimate only - not the final - but it does help you figure things out.
Go to these websites
http://www.nehemiahcorp.org/
http://www.fanniemaefoundation.org/...
http://www.fha-home-loans.com/
http://www.freddiemac.com/
home values Just add 10-15 percent to the values on this site.:
http://realestate.yahoo.com/Homevalues
Just a reminder, you will get a 1099 INT form, for interest you paid each year at tax time, you can take that off if you go 1040 long form. Sign up for your Mortgage exception and Homestead exception and any other exceptions at your local court house 1 month after you close on your loan. This will LOWER your PROPERTY TAXES. Your Broker should mention it to you, or your closer at the closing.
If you go with a FHA loan, FHA has MI included. (With a 580 + you will be going sub-prime the rates are higher by about a 1 percent, but you have no MI. (MI is mortgage insurance in case you default on the loan, it is a way for lenders to have added insurance. It is not the same as Home Owners insurance, ok)
Conforming A+ borrower's loans have MI included, but the rates are better starting in the mid to high 6's (with rates going up.) The more money you borrow - the higher the rate normally. There are a lot of factors involved.
With a government loan - collections and judgements will have to be paid (most ppl do not know that) but for FHA it is true....
Good Luck, and if I can help in any way check out my web site, for links to all the credit reporting agency's and other useful information. This is not an advertisement - just helpful information for you... |
|
Sunidaze
|
I think whether or not buying or renting is the better way to go depends on the individuals needs, what they want, etc. For example, I rent (an apartment)...to some that may be throwing away money - but maintenance is taken care of by the landlord, as well as snow removal, landscaping, etc. I'm not paying property taxes. I'm not paying for upkeep (i.e. roofing, carpet, painting, windows, etc.) besides what's already worked into my rental agreement (rent is going up $18 from the previous year). Currently, I'm a single female in school and working full time with really no clue what I want to do or where I want to be in the long run. If I actually do buy a house it will be someplace far far away from the area I live now. I just don't want the hassle, headache, etc. of homeownership. Now granted, as things stand in my life right now...I'm never even home for more than a few hours each day...my boyfriend lives (owns his own home) 15 minutes away from me and more often than not, I'm there. |
|
?
|
Buy!! You are throwing money away by renting!! |
|
David S
 |
all depends on the area. if places are appreciating fast enough, it's always better to own. if you're in a stagnant area where prices aren't increasing, you may not get your money back if you have to spend a lot to maintain it... |
|
JuJitsu_Fan
 |
well, generally it is always better to own than rent. the renting situation you're paying someone else's mortgage and gaining nohthing. whereas when you own, every month you own another sq foot of your house. owning doesn't make sense if you can't afford the monthly payments. |
|
Texas M.B.A.
|
Buying or renting depends on several factors. How long do you plan on staying in the home? What is your credit like? Do you have enough for a down payment? Try a few "Buying versus Renting" calculators online at www.bankrate.com, fool.com, and a few other sites. Generally, if you plan on staying for more than seven years, you will break even between buying and renting. If you plan on staying longer than seven years, buy the house. |
|
♥SassyBlonde♥
 |
Buy, buy, buy! :-) |
|
soduh72
|
You are throwing your money away every month when you rent. Buy the house, always BUY!. Then it is yours. It has been statistically proven that if you stay in a house for about 5 years you will be making money on the resale. People do this all the time. Buy a property, do a little clean up or fix up and rent it out. Take the money you are making from the renters and put it towards another property. Next thing you know, you own 5 or 6 houses, and you are collecting rent from 5 or 6 tenants. That could be your entire income right there. You could quit your job and just manage your properties. So ask yourself this, would you rather pay rent or collect it? |
|
Phenomenal_Black_Woman
|
buying is always better, always!!!!!! |
|
*****
|
You may not have to worry about repairs if you rent, but do you really know of ANY landlord who is worried about making speedy repairs on his property to satisfy tenents?If they exist at all, you probably can count them on one hand.
Whether you rent, or own boils down to what you can afford, and whether you intend to set roots in the community, or you are just a drifter, going from place to place as your heart takes you. |
|
Unknown
|
Buying is smarter. |
|
♥bentworth78♥®
|
Buying is way better |
|
hec
 |
It depends on many factors and your personal preferences. Contrary to what many people have said here, SOMETIMES it is better to rent. There are some websites, that are trying to help you understand, what's better for you (I think www.realtor.com has such comparison metrics, although it could be a different site)
Factor number one - cost.
a) for how long are you going to live in this place
b) how expensive the property is
c) what are additional (maintenance, insurance) costs
d) what the interest rates are and is your interest tax deductible (in some countries, unlike the U.S. it is NOT)
e) risk (volatility) of real estate prices.
Normally, the longer the period you're planning to stay in one place, the more advantages buying would give you.
Second factor - convenience vs. daily "worries"
a) are you a handy person, who can take care about minor repairs?
b) do you want to be your own boss and make changes in the place you live?
Finally, sometimes the answer is determined by the absence of choice due to some features of a property that you would like to have. |
|
Hokie
|
From my personal experience, buying can be beneficial, BUT renting allows for ease of mobility. So think about why you want to buy, and if you plan to stay for a while. If you need to move within 2 years, you may have to pay Capital Gains taxes. Also, buying may not be good if you don't have a decent downpayment. This is the trap I fell into. We bought a house 3 years ago, and financed 100% of it (in an 80/20 mortgage), so now we have almost no equity. We are trying to sell our house, and the market is really bad now here in TX. We have to move out of town in 2 weeks for work/school, so I actually wish now that I hadn't bought this house. So if you need to move around a lot, because the housing market fluctuates so much, I would caution against buying. On the flip side, we sold a house in 36 hours for profit in Northern VA back in 2002, so my advice is to research the real estate market in your area, make sure you are prepared to put a decent down payment on the house, or just rent if you may need to move quickly (ending a lease is easier than selling a house in some cases) Good luck! |
|
Generation268
|
I rent a house and I think it is the stupidest thing I could do. Not only do I throw away the money as you stated, but I pay far more to rent than I would to buy. I could have already payed for a house as much as I pay and as long as I have lived here, and I would have something to show for it, not to mention collateral if I ever needed a loan. Most people start renting when they do not have the credit to buy a house or are too young to know where they will be in a few years ( which was my case). Right now I am in the market looking for a house. Most house also gain in value and do not decrease unless they are poorly taken care of. |
|
sendricardo
 |
well it depends on the price but its allways better to buy one cause like that u never owe anyone |
|
lock3heed
|
It is always wise to go for a own home.In any case you will be getting rent out of it even if you don't stay due to job needs etc.
rental house is preferrable when you are in frequent transfers,
and you are above sixty still you have not bought your own house. |
|
nfaustman
|
buy
You're throwing money away if you rent |
|
BONNIE B
|
It's smarter to buy as long as you know yo're not getting in too far over your head. You must be able to handle yor PITI payments; and also have money set aside for all sorts of incidentals. |
|
calypso925
|
buying is better,, |
|
Brian S
|
I think both have the advantages and disadvantages
If u buy a home u will have ur own yard u won't have to listen to somebody U can basically do what u want. But the disadvantage is u would have to pay a lot of taxes
But if u rent a home u have to listen to a landlord but all u would pay is the rent. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
31 | 37 minutes(s) ago
| | | |
31 | 3 hour(s) ago
| | | |
31 | 6 hour(s) ago
| | | |
31 | 11 hour(s) ago
| | | |
31 | 1 day(s) ago
| | | |
31 | 4 day(s) ago
| | | |
31 | 2 week(s) ago
| | | |
31 | 1 month(s) ago
| | | |
31 | 3 month(s) ago
| | | |
31 | 8 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
