 Can you get an apartment at 15? |
my mom told me there's some legal way, but its rare? like a hardship.
idfk.... |
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 Appraisal too low?? |
| I purchased a home a little over a year ago. At the time I borrowed a loan the appraisal came at $180,000. I'm trying to sell the home now and the appraisal came out to only $156,000. How is ... |
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 Suggestion for bungalow name? |
| it's located on a hilly area, with sea view. there is a total of 22 units. the overall project is call "Island Resort". thx ... |
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 Question concerning real estate? |
| i'm studying to become a nurse, i want to become a real esate agent and make some money on the side... what are your opinions on a career in real esate? i live in new ... |
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 I need a few good ways to add value to my house I have about 20K? |
| I was thinking either a garage with a room above or finish my basement My basement is a walkout so I think that it will double my sq ... |
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 Realestate Contract: Can a home owner back out on a sale if they have signed a contract to sale? |
| We have signed contract to purchase a home from an individual; They are having trouble closing on their new home and are still living in the home we have signed to purchase. If we pay the sum total ... |
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 Buy a cheap house or rent a nice apartment? |
| I'm at a cross roads. For a while I've been thinking about not pissing money away every month and jumping into the market. The problem is that my income situation does not allow me to make ... |
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 I've had a valuation done on a property...? |
| and it said under the general remarks "The property has undergone a degree of structural movement. However this is considered to belong standing in nature and the risk of further movement taking ... |
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 Question regarding terminating a lease early? |
| I wanted to terminate my lease early. I asked the property management company if I could buy out my lease. They agreed. I would pay them 4 months rent on the remaining 11 month lease. Will they still ... |
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 How to scupper a housing development in the UK? |
| It's rumoured that high-density housing developers have bought the garden of the house opposite us. Does anyone have any ideas of sneaky/clever ways in which we and the neighbours can scupper ... |
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 The housing market has CRASHED - can prices fall by 40%? |
I just had to wipe 25% off my 500k house to sell IN LONDON... sold for 371,000 on friday 25th.
Be in no doubt that the market HAS CRASHED as Kinley reported a 9% fall across south london in past ... |
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 What do you need to rent an apartment at the age of 19? |
| i'm 18 n my boyfriend is 19, we're trying to move out on our own. n we want to know what we need in order to take that step.... |
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 Stuck in ARM,What can i do to avoid foreclosure? |
| my payment went from 1500$ month to 2800$month over 3 year period, can`t afford to pay that amount and pay all necessary bills and credit cards so didn`t pay credit cards now my credit score is below ... |
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 My roommate has no payed her rent. If she is on the lease and doesn't pay, can i kick her out? |
| The landlord requires the rent in one check. My roommate and I had a fight over two months ago, but she still wants to remain mad at me after I apologized (even though I dont think I did anything ... |
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 Can other members of my family claim rent from the house i live in as it is part of a family inheritance?!? |
| been living in the house for 8 years with my father when he passed away. i have continued to live in the house, rent free while the estate is sorted out but another member of the family is ... |
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 Mold in my apartment with infant, manger wont help!? |
| I live in Sacramento, Ca. { If that helps in any way } Me, My husband, and Our 11 month old son have been living in these apartments for almost 2 years, we transfered to a 2 bdrm about a year ago due ... |
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 How much does your rent or mortgage cost you every month and what type of home do you live in.? |
| i live in an apartment in Phoenix and i pay $635.00 per month (one bedroom) i think that's pretty cheap for housing, I'm curious as to what other people shell out every month for there home,... |
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 I think I want to work in real estate, but I don't want to be a realtor. What else can I do? |
Additional Details
BTW---I did not give all those thumbs down. Not sure who Mr/Miss Cranky is.... |
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Nelson | Renting is "throwing money away"? Buyng is "throwing money away" too.? |
I just bought my first home in Los angeles and realized that buying is throwing money as well when I considered interest payment, maintenance fees, high property-taxes, and insurance.
Actually I am throwing away more money now than when I was renting a small 2 bed 1 bath apartment. |
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Hope this helps
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Okay - if you want to look at it that way, it is your life. But 10 years from now when you sell the house and make a huge profit, make sure to let us all know how much money you made.
Smile, and relax. You will make the payments. You will enjoy your home.
Yes, you are paying interest. The part of your payment that is NOT interest is paying-off the house. The amount you pay each month for interest declines over time.
Yes, you are paying maintenance fees. I'm not sure what your are maintaining, but my guess is that it improves the value of your home and your life.
Yes, you are paying property tax. Property tax builds roads and schools. You were paying property taxes when you rented, too. You see, your landlord was paying the property tax, and jacking-up your rent because of it.
Yes, you are paying insurance. Now, you are INSURED. If something bad happens, you are covered. A couple of years ago, I got a new $10,000 roof courtesy of State Farm and Hurricane Ivan.
Remember, your only mortgage increase will be for insurance and taxes. Other than that, your house payment will be the same. So - in 5 years when your renting buddies are whining because their rent has doubled, you can invite them over for a dip in your new pool, or take them for a ride in your new car.
Cheer up! |
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frankie b
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Well the out of pocket monthly cost may be more, but the idea is that over time, you pay down your mortgage, and equity increases. Then in 15-30 years your home is paid off, and you have something you own with value. If you pay rent you will never get to that position.
Hope this helps. |
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bighatinthesat
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The ADVANTAGES of buying a home:
The home may increase in value, resulting in a significant gain in net worth. Homeowners tend to have better credit ratings. The longer you live in a home, the more equity you build that can be leveraged using an emergency loan.
Mortgage payments contribute to an investment, particularly if the property is located where it increases in value over a period of years. If you have a fixed loan, your payment will remain relatively constant for the life of the loan. (Rent goes up) The interest paid on your loan and taxes are legitimate income tax deductions.
Ownership may contribute to security, especially in retirement years when income normally decreases.
A homeowner can borrow against his/her equity, as the value of the home increases.
As a homeowner you have the freedom to make improvements and changes to the home and surroundings as desired (although a development or association may have restrictions and prohibitions).
The DISADVANTAGES of owning a home:
A substantial down payment is needed.
Owning a home requires a substantial commitment in time, emotion, and money.
Homes may decrease in value if the neighborhood deteriorates, changes quickly, or the real estate market suffers a decline.
Due to the initial expense of buying a home, financial resources may be limited or reduced for other purchases or activities.
Maintenance and repairs are inevitable and could be costly.
Part of home ownership includes procuring enough income to afford insurance of all kinds including loss of the house as a result of a natural disaster.
Budgeting is cumbersome and a must in preparation for maintenance, repairs, home improvements, and/or home ownership/association dues.
Depending on where you live, property taxes could increase dramatically.
The cost of buying a home should also include the cost of moving into it and furnishing it.
Unexpected loss of income due to job termination or unemployment may limit money available for home ownership costs. |
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cadaholic
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ownership in the future is an equity whereas rent can never ever give you that. sure, you have to accumulate it over time but it is all yours too! you can sell it in a few years and have sometning more than rental receipts. |
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dottielasvegas
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If you feel that way, move back to a rental. |
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Goodanswer Man
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Buying an apartment is throwing less money away if you want to live there for a long time.Renting is throwing less money away if you want to live there for several years. |
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szq
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You may feel that way but doesn't it feel good that you have control over where your money goes and after you finish paying off your mortgage the property is yours. You can't say the same for your rental. Most if not all of your money that you are "throwing away" on taxes, interest, etc. can be claimed on your taxes so your property is essentially working for you. |
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Belgrademitch
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the difference is when you want to move now you can sell your house and get some of the money that you have paid in back and at least it is going to something that is yours and not just going in to someone else's pocket |
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J
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You are correct. You have to pay to have a dwelling, no such thing as a free roof. Unless of course you stay in a shelter or freeload from parents.
The question of course is: how much roof do you need and at what cost.
If you compare apples to apples, say Renting a 3 bedroom house in the same location with the same sq feet. Then I would say, buying is better (if you buy for the right price and you plan to stay long term). Think of it this way: the landlord has to make $$ and pay the same fees you would pay for the same property.
On the other hand if you just moved from a 1 bedroom apartment into a 4 bedroom house then of course it's going to cost more. Even if you take appreciation, equity and tax right-offs.
So do apple to apple on what you purchased and what your neighbors with almost identical estate are renting their houses for. If the rent is equal or less of what your total monthly expense is then I would say: you should have kept renting. |
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