 I want to get rid of my Roommates who just moved in, easiest way ? |
| I was trying to sell my house but 3 deals fell thru because people couldnt get financing... I dont have much equity in it, just about 30,000 (after paying all kinds of fees, transfer taxes, real ... |
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 I've got 3 college girls who want to rent my house, but they say they want to pay individually, whereas I want |
one check on the 1st of each month.
Some have money, some depend on parents...so I asked if one parent could pay by auto transfer on the 1st and they could pool their money, but the parents don&#... |
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 Is there anything wrong with getting a 30 year mortgage when I expect to sell my place within 7 years? |
| Thanks everyone for pointing me toward the mortgage calculator. Follow up question, if you don't mind. I calc'ed a 15 year mortg and a 30 year mortg and obviously I like the monthly ... |
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 Can a landlord keep your personnel property? |
| verbal agreement to get it when i want it, now they are mad so they started charging me storage. but still won't release my belongings.... |
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 I bought a house a few years ago for $320,00 and now that house worth $200,00.? |
| Everyting is too expensive. So I cant afford paid all the utilities bills plus a morgage. I dont know what to do if I should apply for bankrupt because I cant afford to keep paying the morgage. I ... |
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 Can I please ask some advice on my rented house |
| OK, so ive lived in my rented house for 4 years now, and ive had a problem with my landlord pretty much since ive lived there. The reason being he neglects the house completely and ive been told ... |
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 Landlord shut off my water and wants us out? |
| I am having a problem with my landlord, I do not owe him rent as he is refusing the rent, I have both my sept and oct rent in the form of blank money orders. I do not have a lease, landlord brought ... |
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 Tenants want deposit back, threatening to sue/harassing me, house was badly damaged, what do I do? |
Upon inspection, 2 month-to-month tenants left house in bad shape and want their deposit back!
We did not charge for wear and tear, etc. only what the lease said--maintain yard, clean ... |
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 How can I get a home loan without a job? |
| My credit rating is 782, I have $60K in the bank, zero credit card debt (I have 3 credit cards totaling $56K in available credit), I own both my vehicles and have no other debts. I am a veteran (so V... |
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| Bi-Weekly Mortgage Payments!? |
| I bought home almost 4 years ago... and my current principal is now $178,700 on my house (at 5.875%), and with a monthly current monthyl payments of $1,122. According to my mortgage company, I have 31... |
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 Is it smarter to buy a small house instead of renting an apartment in college? ? |
| My fiancée and I will be (hopefully) married when we enter college as freshmen, and want to buy a house and sell it after the 6 or so years we plan to live there. Her parents would co-sign the ... |
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 When house shopping do you look in the fridge? |
| We are selling our house and I wonder how clean I should keep our refrigerator. It's decent, but should it be spotless?... |
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 I live in apartment, can't get in contact with my landlord, neighbor's oil is spilling, fumes bad!? |
| We live in an old house split into 4 apartments. Our one neighbor, who isn't home, her oil tank is leaking profusely in the basement. Our landlord won't answer calls or messages. The ... |
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 Selling my house: stage it or leave it empty? |
| I have the option of staging my home (bringing furniture into my home solely for the purpose of making it look like a dream home) OR leaving it completely vacant as I will be moved out of my home ... |
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 How can you buy a house if you have filed bankruptcy? |
| Can you even get approved? If you can, what do you need to do to get started and how long must you wait after filing?? Thanks!... |
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 The good news is property prices here in Scotland are still on the rise while prices in the rest of the UK? |
| fall. Do you think that property prices in Scotland will also fall or do you think we will be okay. I am wanting to buy a house but I am not sure if I should wait and see if the prices go down in S... |
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babycanmove | When young should you bue or rent a house? |
dont know what to do buy or rent for the first time its not time yet but some friends are moving into there own place should a couple of young pepole buy a house or rent a house |
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shadowdrinker_x
|
This kind of scenario always seems like a paradise, and ALWAYS ends in disaster.
If you are dead set on moving in with your friends, at least have the smarts to rent...Chances are, you and your friends will not be living together for long, so don't get into a long term commitment...and make sure your name is not on the lease, phone bill, or electric...Whoever has thier names on those utilities and such will end up getting left holding the bag...it happens every time. |
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Pure Genius
 |
Well the best way to decide is by looking at the Rent vs Mortgage
If you can get a mortgage payment for close to the same or less than it is to rent an apartment then buying a home is the best decision. Buying a home is sooo much better than renting for many reasons.. it is a great investment!
If you find that renting a home is a lot cheaper than it would be safer to rent. I would suggest trying to buy a home first because it will benefit you in the long run. Good Luck! |
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Derrick L
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Buy a house as soon as you are able to. Just remember, when buying real estate you're not just getting a home but also an investment. The longer you hold on to investments, the greater chance it will grow in value and build wealth. On the other hand, short term investments (less than 3 years) are more of a risk. Renting only makes sense in a short-term outlook or when you have no better options. |
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randall_senn
 |
If you are a bit of a wanderlust, then rent. If you are ready to stay put, buy. |
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Molly
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If you can afford to buy the home and make the monthly mortgage payment on your own your should buy a place. You can always charge your friends rent to live with you to help you pay the mortgage. If you can't afford the home alone you should probably rent. While buying a home is always the better option, because you accumulate equity in the house and when you sell it you will make a profit, buying a home with someone you don't know very well is not a good idea. Once you buy the home it is harder to move out if something in the relationship goes wrong. In order to get your money out of the house, you would have to sell your share to the other owner or you would need to sell the house. It is not like renting where you can move out and the other person can find someone else to cover the other half the rent. A mortgage does not care if you moved out, you still have to pay it every month for as long as you own the home. |
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Louiegirl_Chicago
 |
the best way to build wealth is to buy a house. if you can, buy a single family, detached house. buy it as soon as you can, in this buyer's market, since you have the greatest chances to negotiate a reasonable price that, when the seller's market rolls around--in quite a long time from now due to how PRICE rose for five straight years, the first time i, or my former trainers, ever saw--you can sell at a premium price and then buy another house.
you save a lot of income tax money when you live in and own a residence. you can write off all of the interest you pay on the mortgage as well as the real estate taxes (based on your tax rate), so, if you do not get a refund from uncle sam now, you will...
there are two things that you must do first, before you look:
1. get a preapproval letter for a mortgage from the lender of your choice; and
2. find yourself a really experienced Realtor (r) that is not necessarily the trillion dollar seller (because they go from one sale to the next that they just do not have time to care about your needs, really, i kid you not), but one that:
a. explains to your satisfaction and complete understanding what "agency" means to you, single agency as well as dual agency!
b. is conversant in the marketplace where you will buy;
c. thoroughly analyzes your needs versus your wants--this will take preparation work on your part before you sit down with a Realtor (r).
the way you find a competent and caring agent is by calling the number on for sale signs. don't let that agent bring you into that house until you sat down with her to get a feeling of how she does her work FOR you. remember: this is YOUR life, not hers. there is only one exception to this rule: if the house has an offer on it already, go ahead, see it, if it is within your price range--but be sure to bring along an earnest money check!!! it just might be the ONE that fits you, so you do not want to lose it if it is. (the good deals ALWAYS sell fast).
i do not recommend getting property in any bad location or foreclosed, unless you know exactly what you are getting into and how much work and money it will take to fix it. if you buy a two-unit, the other one that you do not live in will not pay the mortgage for a long time: you will have your side to pay.
to learn about building wealth in purchasing a home, one of the best sites is AARP, which also has articles about reverse equity mortgages that usually an elderly person uses once they paid off their mortgage. it is good to do as much research as possible before you see a Realtor (r) so that you can ask her questions. you want to know how to build wealth now and what you can expect as time goes on, into retirement.
please write me using the email address provided here if you have a specific question.
all younger people should buy real estate as early as possible!!! and buy the best your money can buy--do not buy less than what you can realistically afford--which is a word to the wise. i know it on a personal level, trust me.
buy it, and be happy! |
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SuperMom22
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as some of the others have suggested, it's always better to buy if you are able to. You are investing in something that will have value in the future, vs renting. However, you also have to weigh the costs to see what makes the most sense for you. Many banks today offer 100% financing programs, but unless you have the $3-5,000 for closing costs, you will have to find a house worth a little more than what they are selling it for, and see if the seller will help you "roll in" closing costs.
Also, depending on your credit, interest rate may play a part in your decision. If your credit is not so great, there is a chance you could pay upwards of 9% for the privilege of home ownership...if that is the case, can you still comfortably make the payments? Do you have a family member willing to co-sign for you to help out? Do you plan to stay in the home for at least 5 years?
Only you can answer these questions, but do not hesitate to call a few mortgage brokers in your area and ask some questions of them as well. They should ALL be able to tell you basic information about programs available to you as long as you have an idea of your credit profile WITHOUT repulling your credit until you have decided you want to work with them. If you don't know what your credit looks like, talk to a few people and find someone you are comfortable with and have them pull it for you. |
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John Rosa
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You may not be able to afford a mansion, but if you have partners, investing in a foreclosure like a duplex to use would be beneficial. Rent one side and have the other to yourself. That's what my friend did when they started out, let the duplex pay for the mortgage. So technically, there was no rent or mortgage.
For more information on foreclosures or duplexes, try picking up some reading material on how to do real estate investing. See book below for recommendation. |
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JAY
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Buying would be better, instead of renting=by renting you don't own and by buying you can do most anything you like and one day you'll own and no more big payments. |
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Jay S
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It depends largely on their current financial position and their goals for the future. Generally it is wise to buy a property as opposed to renting. However, if buying a property would stretch your friends finances short, to the point where they could not make payments, this could result in foreclosure which would substantially damage their credit. I advise them to first be realistic about what monthly payment they can afford. Once they have this figure, contact a lender. A lender can tell them how much, if any loan value they can get to buy a property. If they have a down payment and cannot afford a conventional loan, ask the lender for a good faith estimate and then find a realtor familiar with seller financing. With a down payment, they may be able to buy a property even without getting a loan from a bank. In a seller-financed deal, the seller is the bank and they can work out a payment schedule to purchase the property. |
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cute as a button
|
it depends on the market and the city but if it's a city where there's no where to go but up I say you should buy.
I bought a house when all my other friends where renting and sold it for almost 5 times what I bought it for now I own my own home no more rent or mortgage and I'm still very young. so buying is always better, renting is just throwing money away..... |
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car
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hi! get your net disposable income, you should know it first how much it is. then from there , try to get the 40% of it , if that 40% amount is sufficient for your monthly payment as your amortization then it's the right time to buy that house which fitted to the amortization or to your 40%. if you still have more question about buying a house just send to me directly, it's better to have your own, even mortgage, than renting a house where you pay monthly but at the end it is still not yours. |
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karry
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Is it possible to get a mortgage, if you have a good down payment but unemployed at the moment? |
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