 How to deal with problem landlord? |
| We have just moved into a house (as tenants) and have discovered a lot of things that do not work or are unfinished. the worst thing is that when one of the showers is turned on it makes a noise like ... |
|
 Renters rights: . Can my landlord come into my apartment without me being home? |
| I live in an apartment complex in TX . When I moved in 3 months ago I told the management that my refrigerator does not world properly . They never told me when they would come and take care of it , ... |
|
 Can my landlord ask for a copy of my mailbox key? |
| My landlord keeps leaving me notes on my door informing me I need to give him my mailbox key so he can make a copy of it? Its to my understanding this is illegal only the USPS and I need to have a ... |
|
 Can my landlord evict me because she doesn't like children? |
| She has been threatening to evict because some of the neighborhood children come over and play with my kids in the yard.They are not harming anyone or anything but my new neighbor who is almost 100 ... |
|
 I just got an application for an apartment and it says " how many persons are in your household? |
| Are they asking how many people are in my house at the moment or are they asking how many people will be living in this new apartment that i have the application for?... |
|
 When people are married, is home ownership 50/50? |
| My husband and I bought a house 1 yr. ago, but the loan is in his name only. My name is on the deed, but somehow I feel like it is more his than ours.... |
|
 What happens if you instruct an estate agent to sell your house and then change your mind? |
| Our estate agents have put loads of effort into our house, but now we've decided not to sell. We've still got a few weeks of their sole agency time left, but we haven't signed anything.... |
|
 Is $350/mo. a bit steep to pay parents for rent? |
| I'm 26. I have an ok job but I can barey get by between rent, student loans and gas prices.... |
|
 Is it unfair for a landlord to say, no pets, no smoking, no DSS, no pictures on the wal....? |
I know its their home but if your renting it for years and starting your family there shouldnt it FEEL like ur home, allowing u to have pets, smoke and have pictures on the wall?
my ... |
|
 How much should i offer for a house, marketed at £164,950? |
| I'm buying a house, have viewed one that i really like, it's up for £164,950. Don't want to pay the full price if I can get away with it. What do you think would be a sensible offer???... |
|
 Is there a way to see when taxs were paid on a house that is not yours? |
| I would like to know if there is a way to find out if and when taxes were paid on a house. The house is not mine however I do have reasons to wonder. I would ask the person themselves but they may ... |
|
 A house needs repairs before it closes. The seller would do it but he is strapped for cash. What R my options? |
| I am buying this house through an FHA loan. The inspector said that the house needed to be painted, some rotting boards needed to be replaced and a tree needed to be trimmed. We planned to do this ... |
|
 My landlord is asking about a frequent visitor...? |
I do not have many friends, which is how I prefer to live. I am always with my boyfriend and we are usually with our two close friends.
I rent a basement apartment, so there's a chunk ... |
|
 Would it be wise to have 5 people in a 3 bedroom, 1 bath apartment? |
| My boyfriend and I may be moving into a 3 bdrm apartment with another couple and a single guy. The thing is, the apartment only has 1 bathroom. Is this not a big deal, or do you think that might be a ... |
|
 Landlord has me without hot water for 2 weeks? |
| 2 weeks no hot water apartment is going to the dumps elctricity is terrible he is not responding to my complaints stating soon.no rent is owed would like to know can i withold the rent or some part ... |
|
 How can I tell my cousin I pay rent for room not for them to use room as storage.Pay $400.use 1/3 of room.? |
| rent small room from cousin & boyfriend.Pay $400.The thing is I only have 1/3 of the room the rest they use as storage.How do i tell them thats not right.Plus they keep putting stuff in and I ... |
|
 I signed an agreement of sale on a 4 bedroom home ..... and now I've discovered ( after 7 days ) that the room |
| considered to be a fourth bedroom ..... cannot be considered a 4th bedroom ... because it's off from the garage ( a door to the garage opens to this room ) Do I have any grounds to back out or ... |
|
 What shoudl I offer for this house? |
I found a home I really like in the Houston, TX area. it lists for 279,000. With todays market the way it is,(buyers market)
what would be a realistic offer to make?... |
|
|  |
happydawg | What do you think of purchasing a home too high for you to afford and getting room mates? |
I make about 70K a year if I work 4 days a week. I love this house which is about 3 miles from where I currently live. It has about 2700 square ft with a basement equipped with a 2nd full kitchen and 3 bathrooms. They are asking $245K for the house. Its kind of rural and 3 miles closer to where I work.
There is no way I could afford the house on my own, but I thought way out of my usual range and figured if I could get a non smoking room mate and charge them say $400 a month to rent from me, with 1/3 the utilities, II could afford it. I am a single female and my kids have both moved away from home. What do you think? Is it a totally stupid idea?
Additional Details
Property here is so much cheaper than say somewhere like California. The house is a 2 story log house with a huge yard and beautiful woodworking. It was just built about 10 yrs ago and sits up on a hill in a wooded area. |
 |
 
Expert Realtor
|
A HUGE MISTAKE.
What if the roommate loses their job? What if they decide to leave?
If you can't pay the bills 100% on your own sweetie, you cannot afford to buy a house. |
|
smm
 |
if you can't afford it, are you sure you'd be able to qualify for a loan anyway? also, living with roomates is hard- you would be depending on a stranger to ensure that you had a roof over your head. frankly, i wouldn't do it. besides, if you're sharing a house with someone else, in a sense you'd only have 1300 ft2 of space to yourself anyway. why not try looking at smaller houses or something |
|
slimthing
 |
as much as you love the house i dont think its a wise move. if you cant afford the mortgage on your own then perhaps you shouldnt get it. a tenant my not always have their portion of the rent. they may lose a job refuse to pay rent for whatever reason and then your stuck with the mortgage. so just think about that and then especially with the mortgage crisis going on in the US |
|
peaches6
|
Absolutely absurd!! You would have the mortgage, taxes, utilities, food, toilet articles, medical, repairs, car payment and insurance, home insurance, etc. People usually don't take all into consideration when it comes to what they can afford a month and you're going to depend on roommates. God forbid it if you lose your job for any reason. That is totally crazy! Good Luck! |
|
Ahh_Sweet_Boredom
 |
Are you planning on using any lenders for the home? Or buying it outright? Because generally when you apply for a home loan they will need to know your income to figure what percentage of it the payments will be, if you know you can't afford it, I don't think you'll get financing from a bank for it. Especially right now with so many borrowers facing foreclosure due to people trying to live in homes they knew they couldn't afford. The rules are really strict right now with the lenders so I'd suggest looking for something more in your price range. |
|
topcloser36
 |
It's generally a pain in the a** to have roommates. And if this place is rural, it's going to be hard to find them. Do you like privacy? Well, you won't have it if you have a roommate? Finding a dependable roommate is difficult. I have a couple of buddies that rent out rooms in their houses, and they are always having problems. People are messy, have messy pets, don't pay rent on time, leave lights on, make noise, etc. Save some money and wait till you can afford a place on your own. |
|
financialpeas
|
This is a bad idea. If you had the money to afford the house on your own, then it would be great to find a roommate. This is very, very risky and has drama and disaster written all over it. There are plenty of homes you can find that you can afford without getting in over your head. |
|
Mere Exposure
 |
You can't afford the home on your own and you can't be certain you can keep a mate for 30-yrs straight who is motivated and reliable. I would suggest you do your strategy on a home you CAN afford on your own. Put the extra money you get from a roomy into an account. This will give you two advantages: 1. Extra money which you can use in the future on your dream house. 2. Teach you the lesson on how the room mate reliability works out so if you do decide to try this strategy on a more expensive home you will not be caught off guard. |
|
hanora
|
My answer will be a bit different as in my market a lot of first time buyers look for a house with a basement apartment or other separate unit. It is the only way some people can get in the housing market.
Major question for you is how easy will it be to keep that unit rented? How many people in your area are going want to rent out in the country. Where I sell houses a basement apt. goes for around 800 and up, public transport is available and it is easy to rent apts. You will need a good financial cushion to deal with vacancies. Consider that it can be very difficult to get rid of difficult tenants. That is a pretty big house for one person, have you checked out the utility bills? Do you really want to take on maintaining such a place?
You should do a lot of number crunching before making a decision on this. |
|
Landlord
|
Your big problem with be qualifying for the mortgage in the first place.
You can not count a theory of rent as income to help you qualify. You have to qualify for the house on your 70k income, which sounds like a stretch (don't know your debts, downpayment or credit rating). |
|
LoFlo
|
You didn't say if you were already a homeowner, so assuming you're not. First, of course, you'd have to see if you can qualify for the loan you need based on your income and other factors, such as how much down payment you have and your credit rating.
Having a roommate to help pay the bills isn't a stupid idea, but depending on them to stand between you and foreclosure is risky. Assuming you qualify for the home, see a tax advisor about what kind of tax advantages you'll get, how much more of your income you'll be keeping. You may find that that income, and maybe a little adjusting here and there will bring in enough money you won't need a roommate. |
|
MiaDiva28
 |
if you cant afford it dont even try to buy it. roommates are not guaranteed so dont depend on that. try getting something that you can afford. its too risky. |
|
KN
|
I don't see how come you can't afford the house on your own if you have some savings. If you put down 20% your mortgage payments would be affordable at today rates.
Also, think to yourself, why do you want such a large home? Also, why are they asking so little for this house? Is there something wrong with it?
One thing you should avoid doing is saying that you have fallen in love with a house.
Do you really want to live with a stranger?
What if the stranger wants to bring somebody into the house that you don't like? |
|
turtle
 |
In this market you may be able to get the house for 200k and that would be affordable as long as you don't have a lot of other debt. It never hurts to ask. |
|
katy k
|
Where do you live? I will come be your roomie! :) |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
15 | 14 minutes(s) ago
| | | |
14 | 21 minutes(s) ago
| | | |
15 | 31 minutes(s) ago
| | | |
14 | 49 minutes(s) ago
| | | |
15 | 56 minutes(s) ago
| | | |
15 | 2 hour(s) ago
| | | |
15 | 4 hour(s) ago
| | | |
15 | 6 hour(s) ago
| | | |
15 | 9 hour(s) ago
| | | |
15 | 2 day(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
