 The landlord is responsible right? |
| My friend rents a house in San Francisco, CA. Recently the entire kitchen cabinet unit fell out of the wall. All of their glasses, plates, ect broke, as well as a microwave and George Foreman grill ... |
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| My boyfriend and I just moved into an apartment that allows cats. Before we signed the lease, they said if we were to get a cat we only had to pay $300. Fast forward a month, we went to ask again to ... |
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I have to move for school reasons, I found an apartment that is not too far from work.
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| I've been living on a month-to-month and 2 weeks ago, she got her boyfriend to move in after she pressured me into agreeing. Now I gave her a week's notice and she's asking me for next ... |
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| I live in a two bedroom with my sister and her boyfriend. We get along great but i pay half the rent and they basicly own the whole place aside from my room. Am I getting ripped?... |
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| [New York State] What can a landlord have legal access to without the tentant's permission? Is he/she entitled to a key to a locked room/office within the building/home?... |
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 How can I stop someone from smoking in my house? |
| MY TENANT TOLD HE WAS NOT A SMOKER WHEN I RENTED THE APT TO HIM.......NOW HE AND HIS FRIENDS ARE SMOKING IN MY HOUSE . I AM NOT A SMOKER AND HIS SMOKING IS MAKING ME SICK. WHAT RIGHTS DO I HAVE... |
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 Do apartments normally have shower curtains already furnished when you move in? |
| I just moved into a new apartment. There is no shower curtain in the bathroom. I don't know whether they are suppose to furnish it or if I am suppose to buy my own. I don't want to waste ... |
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 If your neighbor had a garage sale and you recognized a valuable antique for sale,? |
| that your neighbor was selling for only a few dollars, apparently not aware of it's true value, would you tell your neighbor, or would you just quietly buy it and cash in on the item yourself?... |
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 Would you buy a house whose owner was hated locally? |
| There's a house for sale I've seen which is a bargain price, but on looking round the outside, it's had eggs thrown at the windows, a window is boarded up and it's obviously empty.... |
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 I am planning to buy a house.? |
| What is the right thing to do ? should I pay 20% down payment or maximum amount whatever I have ?... |
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 Question about pets in apartments? |
What if my apartment was robbed and I had a dog?
What would happen to the dog if the robbers got in? Would it be hurt? Do robbers normally hurt the dog? I'm afriad to get one in an ... |
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kalli w | Rent or Buy, first timers, help!? |
My husband and I are 22, and both college students and he works full time, I'm in transition and going to get a full time job most likely. We are looking to move within a year. Right now, we do not pay rent and his college is pretty much "paid" for. We are wanting to move and wondering if we should rent an apartment or buy a house. The rent we're looking at paying is around 500. I know of mortage payments that are 700 for family members of mine. We have slight credit but are financing a car with a 5000 loan @ 3 years, @ 166 a month. Once we get it paid off this will boost our credit but will it be enough to finance a house? How much do I really need for a down payment,say for a 30-50,000 house? We're just starting out and I really am curious at to what we can afford at this point in our lives.
Additional Details
forgot to add, we are living in our hometown, going to school via internet. We are looking to move away to some place where jobs are. |
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Nermalcat83
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I was 23 when my husband and I bought our first home, which was 2 yeas ago. When we bought the house the housing market was good for first time buyers. We did not have any money down and therefore, got 2 loans. (One company won't finance 100%). The way the housing market is now, (mortgage lenders going out of business and way too many foreclosures) no one will even look at a first time buyer unless you have 20% down and a good solid credit history.
My advice to you is save up 20%, wait until you both have full-time jobs, and put together a budget. Know exactly what you can afford to live in and have plenty of space in your budget just in case. So I say rent for now, this will help you figure out how much you can really afford in monthly housing. If you lose an apartment it's not nearly as detrimental as losing a house.
Also get a 15- or 30-year FIXED mortgage. One of the reasons why the market is such a mess is that people bought more house than they could afford and opted for the smaller payment ARM (Adjustable Rate Mortgage). One morning they woke up to find their payments doubled or tripled when their rate adjusted (which can be a time frame of 2-5 years typically, it's in their loan paperwork). Most people feel like they had plenty of time before the adjustment, but forgot about the change or one person lost a job, or they weren't sure what they were signing and didn't read it afterward. Your mortgage paperwork is about 30 pages, no one reads all the details at the signing. The important part is to get the fixed rate mortgage even though your payments will be a couple bucks higher. (If you have enough space in your budget you can even pay it off early and save yourselves thousands in interest, which is what I'm doing now that my husband and I are divorced and I have the house to myself now). |
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pittypassion
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If you have ANY question as to whether or not you will be able to afford a home then don't buy it. Not paying the rent is one thing, but not paying a motrgage can absolutley RUIN your financial future for more years than you want to know. Start off renting, sack some money away, and then only after you have 35k for a down payment PLUS an additional 10k in your savings account go ahead and buy. |
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Jason T
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BUY, BUY, BUY!
Why throw away your money in rent every month instead of investing your families future? Think about it, as a renter you are paying for your landlord's mortgage and then some. Rent amount increase as much as 5% per year. If you buy a house with a fixed mortgage your payment will never increase.
You only need about 3-5% down payment ($900-$2,500 for your price rante) if you go FHA. If the seller is motivated enough you can even get them to pay for it! The new housing bill just passed gives you a $7,500 tax credit for first time home buyers, but only if you buy between now and July 1, 2009.
I would suggest getting a copy of your credit report at freeannualcreditreport.com - you'll need at least a 620 to get financed.
If you can't get financed right away you might want to consider a rent-to-own or at least work on your credit. You can build credit easily if you get a small credit card, charge one tank of gas a month on it, and pay it off completely every month.
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Troublemaker
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I would say you should rent right now. First because you guys are so young and not earning enough to buy a house you might like. You are going to have kids and you will need a bigger house and change things around. I would suggest that you rent until you decide its time to have kids. By then you can save money and buy something bigger and something more to your tastes.
Troublemaker :)
Good luck! |
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Erin
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Since you're both in college, I would suggest renting an apartment until you are out of college and have a stable career. Banks usually want a 20% down payment, and your credit usually has to be really good and established before they'll give you a loan. Not only that, but you won't find a decent house for 500 a month, the market is going higher as we speak. Plus, you have to look at utilities: water, electric, sewage, and gas (if applicable). You will also be responsible for repairs of the house. For an apartment, you usually only have to pay electric (some apartments require you to pay all), and the maintenance person fixes problems in your apartment so you don't have to. For a couple just starting out, an apartment is best so you can get your schooling finished and get situated with living on your own and your finances. |
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dattebayo
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More advantages in buying than in renting. |
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Tony
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Seeing how your college students, I don't think it's wise to buy yet. After you both complete school and know you won't be relocating for at least five years, then you'll be ready to buy.
The only exception I'd say, is if you have family located near the home you buy for $50K, and they are willing to help you manage a tennant, then if you had to relocate you could always have that as a rental property. Otherwise, just hold on until you're settled, in your careers.
Good Luck to you both, ;-) |
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stone_ed00
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rent |
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blackkat298
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My husband and I are facing the same thing, except we have been married 12 yrs and are both 32. The thing you need to know is the higher your credit score, the lower your interest and payments. Right now, it's just you and him. There's no need to put permanent "roots" down just yet. Pay off the car, get your credit better, and then see where you are in your lives. It would be a shame if something wonderful came along but you were tied down to a house. |
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EB33
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you can go to a bank web site and look in the mortgage section and that should be able to tell you what you can afford. but But what I found out when I was looking for a house if the say you can afford 100,000 you want to look in the price range of 90,000 you have to take into account of your bills taxes and what repairs may come up. I would say take you're time so that you're sure you found the wright house and that will also give you time to find out what area you want to be in and save up more money for a down payment the more you put down the more equality you'll have in you're home. |
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LayerWAN
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House thats 30-50k? Damn where are you looking Costa Rica?
LOL school on the internet WTF? Have you guys even looked into whether employers would even be interested in you? Get your life straightened out before you think of making a life decision like buying a house. By that I mean having a stable job where you've been at least a couple years, saving up about 20% for a down payment and taking your time to look at the financing options. Don't just jump into this, it's no joke. |
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josh
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rent |
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Samantha R
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Real estate is an investment, however having a home is expensive and time consuming. An apartment, you just call maintenance. I would rent for a while until you're positive about buying a home - it's a huge commitment. |
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Kate R
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Why not try renting to own a house? Rental houses on the market are lovely and unlike an apartment their leases can handle longer extensions without rent being raised by the landlord or tenant.
Talk to a real estate agent about possibly finding a house to rent.
The beauty is that if you like the house and want to stay there then you can begin purchase agreements. If you decide to move you can do that too!
Good luck! |
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sexxxidimplezz
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rent for now. being that it is your first time. use that time to save money and build credit. in a few years you will be ready to buy. keep paying off your loans on time. |
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cuno84
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As long as your credit is good you can get an FHA loan. The going interest rate is around 6.5%. You can qualify even if you make above the poverty line. If you buy a home in a new development, most builders are willing to cover the closing costs. And FHA loan does not require a down payment. |
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bailie28
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seriously at 22 i would rent...you can rent a house or an apartment so you can figure out things you do or dont like..you buy some tiny house now...in five years you have a few kids suddenly its too small..so then the problem is selling it and finding a bigger house..wait a while..you dont have to do everything right now....and you need at least 20 percent down for a down payment on a house |
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if ya know me t
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Well listen here...ok..
You both are college students and you will be graduating college in the next couple years, what makes you think that you will still wanna live in the area when you both graduate? Buying a house will boost your credit if you can keep it paid up, but will also tear your credit down if you lose it. Renting is a more sensible choice for now until you get out of school and get on with your careers. Normally it is 5-10% for a down payment... hopefully this helped... good luck |
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wife2afireman
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I think that buying is a better investment, but renting doesn't leave you with any 'obligations' either. Here where I live, you can get a house payment (if you buy) for less than $500/month in the price range you stated you were looking at giving for homes if you buy. I say just look into some homes you would like to buy, then google 'mortgage calculator' and type in an interest rate on the calculator at what would somewhere in the range of what they are in your area. You may be surprised at what you see. If you're able to come up w/ $500 for rent, then you could put it towards and investment in a house if you buy. Buying has all sorts of advantages over renting in my opinion. But, buying has more obligations that renting does as well. If you buy, you may need a co-signer, such as a parent or someone else close to you. And after a while, if you make your payments on time, then you can get their name removed. |
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DrRocco
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Take Dave's advice. It's helped me A BUNCH, and it will help you too.
I could tell you what I think he would say, but it's probably too long for here. Message me if you'd like.
www.daveramsey.com
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