Should i buy a house in 2021 reddit. I’d actually consider buying the house in cash.

Should i buy a house in 2021 reddit. Basically you are at break even or slight losses for both selling it and renting it out. Having said that, there are cautions when buying an older home, even those supposedly that have been renovated. The unchangeable or very expensive things are more important than the fresh coat of paint, cute flower beds or stylish light fixture that make you fall in love with the house at first glance. What do I need to start doing? I know I need to save money. By the time it is considered a buyer's market again, these prices might be normal anyway. Reserved 1st March and moved in 25th April. How can these homes keep selling and people justifying the expense… I’m in a bit of a dilemma and could use some advice. 35% rate and 6. That seems like it would make more sense. Short term CDs that mature before your planned purchase date, high yield savings We had a pretty good experience in buying a new build, albeit pre-covid. buy calculator to compare costs over time and see your break-even point. If they earn 7% on their money it makes up for paying an extra 3-4% on the mortgage. The asking price is 250K. Look for size, layout, location, neighborhood, and lack of major repairs needed. So maybe weigh those options. There's multiple offers on every house so I would say start looking and keep yourself on the lookout for a good deal. You're paying for shelter. I estimate to close out 2021 making 140k-180k You should buy when you can afford to and want to spend a lot of your time and energy on setting up/maintaining a house. I don't know. Dec 19, 2024 · If you want to buy a home in 2025, here's how to determine if now is the right time or if waiting is the better move. Share Add a Comment Sort by: Best Open comment sort options Best Top New Controversial Old Q&A tnn242 • A house is a place to live. 25% or 6. The financial benefit you'd get over that 3 years, is going to be wiped out in about 1 month of attendinghood. Of course we also have interest rates that are double what they were in 2018. 5 years now. Due to high interest, I am having second thoughts about buying a home. The stress of finding a house, buying a house in the current market, getting through closing, moving while in residency with only 3 years left just seems painful to me. The data also show that 25 basis points added to the mortgage rate at a 30-year fixed rate of 2. Should I plan on saving 20% of a down… The decision between buying Microsoft 365 or Office 2021 depends on your specific needs and preferences. Even though stocks have gone up more most people would have made more money off of the house. On top of the interest, the monthly property tax would be more than half of what I pay in rent right now. I bought my first house up in Washington a few years ago and a few things popped into mind while reading your post: Apr 4, 2024 · Wondering if you should sell your house now or wait? The answer is: maybe. I’m in the Austin area and don’t see any problem with waiting it out as prices continue to fall. trueI'm 23 and my wife is 20 and we're in the market of buying our first house. ), chances are that they have remedied all concerns about lead paint, corroded pipes, abestos, etc. If rates fall to 6. We had lived in a new development, in what most people would consider a "nicer" house, but it just felt so sterile and well new. Based on this I should be able to buy a house but I still can't see how I'll be able to afford the monthly mortgage unless I keep getting proper raises or finding new jobs to earn more. 29 We would like to show you a description here but the site won’t allow us. Share your experiences, ask questions, and connect with both locals and visitors alike. Clearly you are a successful, disciplined player, but I’m sure you know how sideways it can go in a heartbeat. This should drop house prices to comfortably in our range. What are the things to keep in mind before purchase and what are the steps that we can expect once the buying process starts? Share Add a Comment Sort by: Best Open comment sort options Best BizarroAzzarro • Also remember to compare things like "I would only rent a 2 bedroom apartment, but I would buy a 3 bedroom house. I’ve put multiple offers (even some over asking price) and have constantly gotten beaten by other buyers. Subscription vs. And I've gained over $100k equity. Aug 5, 2025 · The burning question on everyone's mind: should you buy a house in 2025 or 2026? Here's the short answer: It's complicated, but generally, 2025 might offer some advantages, while a late 2026 purchase could also prove fruitful. The housing market is a bit like a rollercoaster, with ups and downs influenced by a whole bunch of factors. 133 votes, 118 comments. It’s shocking to me that despite internet rates going up, market in Los Angeles area actually picked up and prices went up a bit? My wife and I have been saving for a down payment for our first house, she was in school during the pandemic and we definitely couldn't afford a house when rates were low. You don't have to buy a house. Looking at houses between 500-700k so would probably be happy with something in the middle. Buy the house you want. Just because it’s the worst time ever (so far) doesn’t mean it can’t get even worse in the future. Remember that I’m currently 22 and have been saving to buy a house of my own. Been working for a while but more recently I've been able to take off with business. Which means it "could" be a smart time to buy, because if rates drop house prices may increase because people can borrow more. Buying now will certainly not see similar results. I am considering buying a new construction home. Im trying to save money for a house in this economy, so my question to Reddit is should I keep the car, or trade it in for another thank you for reading and I would appreciate any comments and suggestions on what to do Long post Hey y’all, I live in San Diego, CA and I’ve been trying to get into a new home for about a 1. Edit: as a cash buyer I know interest rates won't affect me, I'm asking if the sentiment that it's better to rent now than buy is mostly based on interest rates, or are there other factors as well? Besides some people thinking the market will crash, which noone knows one way or another. Everything is expensive but I would rather pay a higher mortgage than 2000 for a 1 bedroom 775 sq foot apartment. A National Association of Home Builders report shows the percentage of the population of each state that could afford the mortgage payment of a median-priced new home, with about 40% of the 125. 4M. Try our rent vs. For those who bought a home early on, in their 20s, what would you do differently? I am 23 looking to buy a place within the next 2 years. I’m currently making about $55k a year, but I made the mistake of buying house and car before marriage k owing that we are not compatible because it was 2021-2022 where the interest were lowest and we individually could not afford to buy any house ( like we put 10K down each). But when I calculate what i'm paying with principal and interest it just seems crazy. I’m aware the market isn’t too good right now for buyers. Unless of course rates drop in response to a recession. The goal would be to live in the condo in my 20s and sell once I decide to start a family or my parents get older. What are some things I should be aware of and do before doing so? One of the main reasons buying a home is a good investment is because you can leverage your money. I've been wanting a Jeep for the longest time, specifically a Wrangler, but I have no real need for one, I just like the aesthetic. The only reason why I’ve considered going straight homeowner May 28, 2021 · America's housing market hasn't been this hot in decades with home prices in April hitting another year-over-year high. If no, wait save and try again later. Mar 12, 2024 · You should feel good about buying a house if … Let's start with five signs you might be ready to buy. Their education pretty much revolves around the transaction required to buy and sell a house (think contracts, etc) and some legal things surrounding agent/seller/buyer relationships. My question is, as a new teacher with no expenses in their first few months should I buy a house or rent an apartment first? How much would a house payment around that price range cost me per month? How do I even buy a house? Should I even be looking to buy a house now, or should I wait? Edit: Thank you all so much for your responses!!! I haven't been able to respond to every single one, but I read all of them that come in! My husband and I are looking for a home. My fiance and I are both scared stiff of buying a house, because we dont know how! Could someone explain like were 5? A step-by-step? A timeline? We are two professionals in our 30s but so dumb when it comes to real estate and finances, please help. I bought my first home with a 2. I make great money for my age and have been able to save up a good bit in a short period of time. If a house hack can reduce your housing expense more than an exclusive rental property can cash flow, go with the hack. We would like to show you a description here but the site won’t allow us. But the major benefit of purchasing a more expensive house that I think is overlooked is that you're benefiting from your investment as soon as you purchase, because you're living in it. Help! Share Add a Comment Sort by: Best Open comment sort options Best Top New 222 votes, 265 comments. For millions of prospective homebuyers it's becoming almost irresistible not A /r/malaysia branch. I don't think I would buy a house today with the current rates. 129 votes, 183 comments. But saving specifically for a house with those numbers might not be the way to go, as with the numbers you’ve given you’d be most likely be house poor while not being able to contribute much to retirement if you were buying single, regardless of if you had a substantial down payment after years of saving. 5%. Around 250-300k. 372 votes, 698 comments. So the most important question is whether you can find an acceptable house for $275k in your area. Assuming we've got no interest in buying a home before 2025, and should have a household income north of $200K and downpayment of at-least 100K by then, what can we do to prepare now? Absolutely you should buy a house! However I would recommend you payoff your car first as this will eliminate the car payment and decrease your debt ratios to help you qualify for that price range. Those people typically put 20% down, and put the rest in index-funds to earn ~7% a year (on average YMMV past performance is not an indicator of future results, etc). There is also a long term gamble you are making when buying a house and believing that the area where you buy your house will be profitable in the future. Do you want to pay a little bit to get out now, or continue paying a bit to deal with the headaches of owning a place while still losing money? 6 days ago · What to consider about mortgage refinancing now Here's what experts say to consider if you're thinking about refinancing your mortgage loan now: Buying a house with a cash is almost never reasonable if only you are not close to pension age or mortgage rates are higher than historical stock market which is 10%. Any thoughts on when it should “get better”? Share Add a Comment Sort by: Best Open comment sort options Best Top New Controversial Old Q&A regallll • Aug 27, 2024 · Homeownership comes with a lot of benefits, but it's not for everyone. What will I get out of buying the house? Mortgages cost less per month than rental, but there are a lot of one-off costs to buying and selling (stamp duty, furniture, removals, legal and estate agents fees, (don't forget stress) etc) so it takes years before buying becomes the overall cheaper option. Even if you bought the underlying land, if you sell the land and the home after 30 years, only the land will appreciate in value. $350k and $6k a month sounds great now, but due to shortage in supply in multiple areas, the fed won’t be able to control inflation for long. I went with a house hack. We bought in August 2021 and offered on maybe 20+ homes before finally getting an offer accepted that worked out (one house had inspection issues so we backed out, we were backup offers on 2). 5% interest rate and have about $350k equity from a 2021 purchase… don’t regret it one bit and glad I started looking when I did and listened to my real estate agent vs my boomer parents who were like “you should never buy a house at/above asking price” lmao My advice is to buy at least two houses with cash. Explore renting vs. This house has an assumable flood policy of It wont be 20% of the house cost, but for a first time buyer its better to put saved funds towards those rather than equity in the house and have a surprise need for a $4,000 HVAC unit and $5k+ in appliances. We haven’t had any excessively huge problems, but have If you are earning something like $45k per year when you are ready to buy a home, your max budget should be something like $140k or $150k. I had the opportunity to buy a rental property where the cash flow was $500 a month, but by house hacking, I lowered my housing expense by $800 a month. I bought my house in early 2021 with a sub 3% interest rate. households able to make the $346,757 purchase in 2021. Our house was $350k just a few years ago. However I plan to join their team mid semester and live with my parents until o have enough finances to move out. I was tempted to buy in City B back in 21, but am glad I didn’t. Then the plan is to buy another house after a few years and rent your space out in house #1 or just rent whole house out. You're probably too young to adjust to life on your own in addition to buying a house. Reply reply Gseventeen • I'm reading that buying a new manufactured home is akin to buying a new car, in that it depreciates in value, and therefore buying a manufactured home is generally a bad idea. How should I go about doing this? Thank you in advance for any advise. Cons: Many will argue that the cash you used to pay for the house could have been better used invested in higher returning vehicles. I wouldn’t recommend buying something that you really don’t want to live in long term (at least 5 years). I figured the only way I can have control over my monthly housing expense is by purchasing a property. We are first time homebuyers and are hearing mixed reviews on whether or not to buy or rent at the moment until the market gets better. The only downside I could think of is that it's slightly outdated yet still powerful gpu. If you need a house, you need a house. BUT rent increases are crazy too and I am sick of moving from apartment to apartment to escape from the increases. We decided to move back to Houston as we wanted to start a family and Houston was a much better place to do that in my opinion. What if this is When people are struggling to buy one home to live in and pricks like you come on here asking about should I buy another house to enjoy???? Are you fucking serious?? News flash asshole. c) should mean we start seeing distressed selling later this year if inflation hasn't seen its peak. Keep in mind that 45% increase in property values isn't exclusive to your house - the $275k houses of today were the $200k houses of 2021. First time home buyers: buy older house and renovate or buy brand new? Hoping to buy sometime 2025 maybe earlier but what are pros and cons of buying a brand new home ie lennar, Ashton woods, etc or just buying an older home and renovating as we go along? I know a home is a big purchase but not sure if there is a route that would suite us more. Is paying for food just throwing Prepare for a peek inside my indecisive brain, though I will try to be brief. 8% would price out around 1. It is by far my best performing "investment". If you’re ambitious, even buy 3-4. Basically the title. Homebuying isn’t a purely financial decision. I can't wrap my head around mortgaging a house for $343,200 and still paying over $3k/mortgage. In the long run, buying should be less expensive than renting similar accommodations since there’s no profit involved, but you accept the risk of things going wrong all at once rather than just potentially needing to move if your current place isn’t working. There are always going to be ups and downs (e. If you have to ask reddit if you can afford to buy a house, you can't afford to buy a house. I feel like a lot of American are overthinking when it comes to buying a home. I have several childhood friends whose parents were like a cashier at a department store or a team lead at a warehouse and they were also able to buy decent houses in the 90s, houses that are now worth half a million dollars. Whether you're looking for the best surfing spots, seeking recommendations for A friend went to put an offer on a $900k house in 2021 that ended up selling for $1. In fact, renting can be awesome. I feel like I’m doing the research and can afford it, however I’ve seen posts by people in similar situations where they’re being told to wait, so I would like to ask for any advice you might have on my situation. 92 votes, 99 comments. I didn’t feel I was at a point in life where I knew what I wanted and where I wanted to go for the next chapter of life, and buying on impulse emotions for a major purchase is always a bad idea, no matter the interest rate. Wife and I are considering buying for the fall but are unsure when the appropriate time is to start contacting mortgage brokers and looking at homes. Buying a second home, any equity sahould be rolled in to the next home but you should still budget for furnishing/appliances/touch ups. Everyone says it is a seller's market, and that is true, but there is no guarantee that it will be a buyer's market in 6 months or a year or 2 years or 5 years. When considering whether or not to buy or rent you should think of them both as a cost. Oh the horror!!!!! Buying a 2021 build vs buying old homes - 1960’s -70s etc where you have nothing to be excited about Why are the older homes priced at almost par with new 2021 homes ? You walk into a newly built home and that new smell and everything attracts you to the house vs the old ones where there is nothing to be excited about My only regret was not buying a bigger house, or more houses. I’ve really lost all my hopes on buying a home… About 2 months ago, I started to look into buying an empty lot and constructing a home I want. If homes in your area are more expensive than that, then you may need to wait to buy until you are earning more money or married to someone with their own income. We’ve been doing a little research but we would love to hear some advice on what questions we should ask when meeting a realtor, regarding the process, credit score, the house itself, etc. Good luck! 64 votes, 184 comments. Need advice because all i heard from my circle is 'rumah tu aset tak pernah turun harga bla bla bla'. Find out how to save an emergency fund and invest for your future. Wish I had a better realtor who knew everything about new construction but these are my observations after living in my home for a year: Don’t let people who think a house needs to be perfectly new and spotless to buy scare you off. I put off buying things that were associated with relationships (house, kitchen aid mixer, etc) for my entire adult life until my revelation at 40. As a base line you need an expected appreciation of 100% over 10 years in the minimum. 5 days ago · Buying a house is expensive up front, but it can help you build long-term wealth. Hello everybody, I recently got married (dual-mil) and the wife and I have been debating wether to buy a house now (we’re both E-4’s) or if we save up and buy it after retirement? If we buy one now, we’re not really gonna live in it for like 20 years but we could essentially have it paid off by the time we retire. The reason for this is inflation. Many renovations include only surfaces and you'll find a host of problems not obvious to the eye. Reply reply Some similar models are selling at CarMax for around 27,000. These are good examples of why you do not listen to family that are not actively following the market. More than a few houses were sold at a loss between then and now. On a 300k house dependent on your interest rate but let’s assume close to 3% your payment is maybe a $100 more by putting down $0 instead of 12K. Let’s say you buy a house for $400k with 20% down ($80k I just bought a house out here - although I was able to lock in a sub 6 rate earlier this year. I’d actually consider buying the house in cash. 2%). If your house is that cheap, there is no way you are itemizing post TCJA. 4 million U. I just think you should buy a house (when you can afford to) because you want a house, rather than feeling compelled to do so because renting is "throwing money away". I wish I hadn't waited so long. . If you're looking for houses with loans ending up with mortgage payments way out of your price range, then realisticallyyou need to put down a bigger down payment, or you need to borrow less money. In the last 11 years my house has about doubled in value but the stock market has tripled. buying a home and the pros and cons of becoming a homeowner. This is probably a hot topic here, but my family has decided to buy a house in the South Bay. If you can afford a home and you want onego for it. 20% is the standard most people will say but with PMI, and first-time home buyer programs how much REALLY do I need to save? I except the home Mind you, we found and picked the houses our realtor showed us not the other way around - we just worked with someone with an exceptional network in very in demand area. I currently have a 2003 SUV that is very… My partner and I are finally at a point where we can buy a house but everyone says it’s a bad idea and the worst time to buy. Having been there, no way would I do that. How much do I really need to save before starting to look at houses? I live in Pennsylvania and have heard about many incentives to help new homeowners. Aug 30, 2025 · I bought a house when mortgage rates were 6. For me personally, I was tired of renting and wanted a bigger living space. I planned on using my VA loan to purchase a home in the Olympia, WA area but given current interest rates, I don’t know if it’s still worth it. Of course it all depends on city/zip code/neighborhood. ), cloud storage (OneDrive), and various other features like collaboration tools, regular updates Rental vehicle and 3 years old if your going for financing buy like 2024 or 2025 So right now I'm a college student with a secured teacher job waiting for me once I graduate. Just buy what you want and pay what it's genuinely worth to you. That is impossibly low. As a general rule (this is very general, do your own research for your area), you have to live in a place for at least 5 years to make buying worth it (for the savings compared to renting to overcome the closing costs). Basically a $100 difference. Reply reply General_Noise_4430 • My bigger question is, would it be dumb to buy something now and maintain it while still living at home? Pay it off faster when I don't have a ton of other bills since we dont know where the house market is going? Or should I just keep saving for a bigger down payment? Aug 25, 2025 · Is now a good time to buy a house? It's a question many aspiring homeowners struggle to answer in today’s shifting market. The right time to buy a house is not strictly financial; the right time is when it is right. After care was great for the first year, then Covid hit and things have noticeably been crap for 18 months. As others said you won’t get rich overnight but it’s a decent strategy to start out if your lucky and you get good renters. Of course, this isn't a checklist or a quiz, so it's not like all five are must-haves. Here are some factors to consider: 1. If there are people here who have had first hand experience in buying a house in Mumbai. With stocks, you're not benefiting from your investment until you sell your stocks (or you only get a small percentage annually as dividends that you would benefit from). 5% This. Bought my house in 2021 for $246k. 9% is high but it's kinda still beating the market. So you need to buy a house that appreciates, and then the break even rent will keep the house from making your budget crap. Learn how to better manage your money and debt in both the short and long term. Should I buy the house? I don't know whether to save up and buy the house in hateno village or just spend it on clothes and the likes. But I've seen in many places people stating that you need to be wary of buying old laptops, not sure why though? Hiyah! So I (F21) have a bit over 50k saved. Last year's income was 93k and this year to date I've made 105k. 99% rate. The only reason to buy more house is if you think you might get a multi unit house and rent out the other units which I absolutely recommend so eventually you'll live in your unit for free with expenses being paid by the other tenants. I'm finally in the market for a new car (I know horrible time, chip shortage yada yada) and found a Wrangler lease at my local dealer for about $400 a month 1K down (= my trade in) which I'm 26 years old looking at buying a home in Denver within the next 6 months. I’m 26 looking at buying a house in my area. Before I bought my house on 2021 at 3. I've seen several posts on here lately with people that seem to be in a rush to buy a house even when their personal circumstances or finances aren't conducive to home ownership. You don't get to buy it for two bedroom prices to then later sell it for three bedroom prices. I am just starting my research to buy a house and I’m looking for a step-by-step guide including tips, tricks, strategies, and lesson learned. But u/nutbustingfuckdragon, rent is just throwing money away! No it's not. I honestly can’t I was trying to find one in the wiki, please let me know incase I missed it. Any advice for what to look out for and do prior to starting? With the interest rate at 7 percent, how are people buying houses in Southern California? My wife and I make a solid income, but when I crunch the numbers on an excel sheet, we would be house poor if we bought a fixer upper in the neighborhood we currently rent at. I bought my house end of 2021. Together we have about 80k saved and combined make about 160k a year but housing just seems outrageous around where we live, average home thats about 900sqft is selling for about 450k around us and we're in a good spot for saving but don't want to fall too behind with housing prices, so my If a home is at least renovated (for example, they say they put in a new roof, new HVAC, remodeled kitchen, etc. The best time to buy a house is when you’re ready and able. 2021 purchase. Someone else will want it when the time comes. I want to purchase something in my name just so I own and am not paying rent, but condos and townhomes don’t really exist here and those that do are selling almost for what a house on top of having high HOA fees, so that’s out of the question. Share Add a Comment Sort by: Best Open comment sort options AutoModerator • Moderator Announcement Read The market is terrible now and I’m feeling pretty helpless as a first time buyer. Buying and owning a house take effort. The realtor made some research and found out that other similar comps in the area sold for 220-225K. Since then we've both started new jobs and are able to save quite a bit, but with the house prices, interest rates, and student loans restarting (pain) think it's best to wait another year to be serious about buying. I'm from a developing country and most of my family owns a home. So My personal conviction is that the high mortgage rates and large increase in the cost of living due to inflation (food, fuel e. trueHi I own a few multifamily rentals and I strongly recommend you sell. Right out of school, you should be focused on establishing your career - making sure you are successful and on a path to earn more. Need to do your own math. Looking at houses in popular areas like Fells and Fed Hill, I can see that many houses haven’t appreciated a single dollar since their peak in 07/08 before the crash. But to answer your question, no I don't regret buying a house. I would net 7,000 to put down on a new car or use to lease a new one. 28 years old and about to get married, planning on moving back in with parents so we can get out of bad work situations. We did part exchange on our old house so they bought it off us (at a lower but still semi reasonable price). I mean, most houses (decent houses) are $500,000 or more. I’ve found a 1. I had gotten married one year previously and my Wife was born and raised in Houston. 1% which is crazy. Which is why passing a Series 7 is significantly harder than a realtor license test. My mortgage is much cheaper than renting a similar house. How is a regular working class person supposed to buy a house and have a family right now? The math aint mathin' Interested in Real Estate Investing? You've come to the right place! /r/realestateinvesting is focused on sharing thoughts, experiences, advice and encouraging questions regardless of your real estate investing niche! Structured Deals, Flipping/Rehabbing, Wholesaling, Lending, Land, Commercial Real Estate and more! If it has to do with real estate investing this sub is for you! Realistically, your mortgage payment needs to be more than affordable because you also have to anticipate property taxes to go up, as well as home insurance costs if you factor in escrow. Checkout our wiki for personal finance basics for beginners! "Get your financial house in order. It was built in 2005 and the roof, HVAC, and… This, when buying a house interest rate isn't really the biggest factor since it is a macroeconomic factor and for the most part affects everyone equally. Hi, I’m (26M) trying to decide if 2024 is the year I’ll finally upgrade my car. I’ve also managed to saved up a decent amount of money (around 10k) to where I’m contemplating if I should find a place to rent for like a year or two, OR just go straight homeownership. Buying a house is a decision that's based on much more than what's on the surface - the surroundings, the environment, the neighborhood, the overall layout is important. While I know we’re in a different spot with tighter lending and restricted What are the downsides of buying a 2021 laptop in 2024. Buying a home was one of those reasons. What really bother us is that the house was bought in 2021 for 180K and they didn’t do anything to it - in fact it took a beating because of renting it college kids (ruined carpet, wall stains, and that stuff). Maybe in 5-10 years you can refinance for a better rate. Some houses which sold in 2018 are now on the market for 60-100% more than what they sold for back then. I've seen several articles saying a single person needs to be making ~105k/year to afford a median home. Should I buy a house in 2021 or wait until 2022? I'm going to be a a first time homebuyer and torn about what would be a better financial decision - buying this spring/summer or renew my lease and waiting until spring/summer 2022 to buy my first house. An offset account reduces sum by which interest is calculated. Sorry bud, im in the same boat. S. I also noticed that prices quickly spiked somewhere around 2018-2019. Hi, did anyone ever regret buying a house? If so, can you share why? Im single M28 and thinking about buying an apartment. It's OK to rent. g. , right? What are the downsides of owning a home that is from the 70s and older? Can they last another 50 years so with goid upkeep without the need to redo entire walls or foundation? I always find it interesting what people go through on buying their first house, especially starting out with little knowledge about the whole process. I’m military and gonna be moving in January. These are hard to quantifiably compare, so it's up to you to decide what value you assign to the extra room or extra square footage. This is your one-stop-shop for discussions, news, events, and local happenings in this sunny Southern California region. If you are paying 1% per year in property tax and at least $1k of insurance, then the mortgage amount couldn't be more than $125k. When would be the appropriate time to start the process if our lease is up September 30? Share Add a Comment Sort by: Best Open comment sort options AutoModerator • Moderator Announcement Read More » Reply reply [deleted] • Comment deleted We would like to show you a description here but the site won’t allow us. I was hoping to put zero down to keep that money in high yield savings. In the US the stock market outperforms housing. A year or a few years in an apartment will help you figure out what you want and need out of independent life. 0%, would refinancing make sense and actually save me money? Answer: 38 votes, 121 comments. Reply reply more replyMore replies more replies more replies ParryLimeade • Late fall and early winter is a great time to buy Reply reply more replies more replies More replies Psychological-Touch1 • Cheers Reply reply more replies I'm 23 M, I'm a freelancer working online. Should I continue saving to buy my first house or am investment property, or should I give up and just use the money to travel while I’m young? I’ve heard multiple ppl say that Dave’s advice on saving at least a 20% down payment for a 15 year fixed loan that takes a quarter of your take home pay is outdated advice based on today’s housing market. I know it's not the best time to buy right now and mortgage rates (30-yr fixed) just rose to 7. Mortgage interest alone would be $5,000 on a $225k mortgage (at 2. 0. 4 We would like to show you a description here but the site won’t allow us. The two lenders we spoke to quoted us a 7. My journey began March of 2021 when I officially moved to Houston from Vancouver, Canada where I had been living for the past 14 years. You do have more buying power when rates go lower, but then so does everyone else, so the price naturally moves up as people outbid each other. That may be as soon as you can afford to, but there is something very nice about allowing yourself to have a little extra cash and live a little more carefree for as long as possible. One-time Purchase: - Microsoft 365: This is a subscription-based service that offers Office applications (Word, Excel, PowerPoint, etc. In this case you could lose your job, be stuck with a mortgage, and your house may decline in value. Buying at 7. So renting is a viable option. Welcome to /r/orangecounty, the Reddit community for all things related to Orange County, California. If the number of bedrooms impacts the value, that should be reflected in what you pay for it today. I should note that we live in south east louisiana where home owners insurance and flood insurance is a complete shit show after Hurricane IDA and FEMA 2. I rented my first house to roommates for the first 5 years after purchasing my house and it worked out pretty well, however I wasn’t relying on renters to pay my mortgage. trueDon't fall for staging or minor cosmetic things that are relatively easy fixes. My credit score is 784 but still 6. I’m in a situation where I can purchase a home, most homes near me are 4+ bedroom. Figure it out before some transplant comes in and takes your lakefront. 5% my cousin was telling me I should wait for the market to drop. You buy the house, spend $20k on furniture and then hire a short-term property management company to run it for you to handle cleanings, bookings and renter issues. You sit back, cover the mortgage and make money on top of the property manager’s fee which usually 20%-30% of what you’re making off the bookings Reply reply More repliesMore Aug 12, 2021 · Should you buy a home right now? Here are the 6 things you should know before diving into the bonkers housing market. t. do you think I should wait some more time before buying? what areas would be ideal to buy a house? (should be near good schools) will buying near downtown overlooking the harbour be a good option for a family and will it be affordable? or do do you think buying in the suburbs is a better option? why do people buy in places like mount pearl and CBS? Also as a veteran if you want to buy a 300k house instead of needing 10-25k to buy a house you can put that zero down and get into the house immediately. So, I’m looking to try and move out of my parents home for the first time in my life. If you WANT to buy a house, and you can afford the house you like, and if it's in an area you like, basically check all the boxes - then buy it, otherwise don't. If you can do that, yes buy. If it's a good deal and your offer is accepted then why not? Make a smart honest budget that has room leftover to save and invest. " It wouldn't be an apples to apples comparison because you get "more" from the house. " -/r/personalfinance discord: 3AJK5fKhgv Everything a person does involves trade offs. Of course the pics are ugly, it’s a basement with termites! That said, I would definitely get an exterminator to provide a professional opinion - how significant is the damage, how widespread are the bugs, how expensive is it to mitigate, how likely are they to return, is there some underlaying The income that you can expect from a property is about 40% rent, and 60% appreciation: If you buy correctly. Some folks lost everything and are losing everything. Buying a house in cash is often viewed as solely positive but that's a narrow perspective based on people assuming bad things won't happen to them and being afraid of investing their money in other things (low cost index funds being the best option). Now, I get that houses are extremely expensive, and that interest rates are high, but to me there’s no guarantee that this is actually a bubble. It's impossible to time it, buy a house when you need to buy one and hope for the best. I am in a good spot financially, I've reached the end of all my loans, and have started saving. Why or why not? : r/RealEstate     Go to RealEstate r/RealEstate r/RealEstate real estate investing landlords landlord borrowing lending mortgages foreclosure loan houses house apartment financing loans buying a house foreclosures foreclosure forbearance home buying homebuying first time homebuyer MembersOnline • [deleted] So I am a first-time home buyer, new to the game. How much money do I actually need? For everything and to be comfortable after buying. It’s also a lifestyle choice. Price was almost double what it sold for in 2018, but has since nearly double again. We were buying December 2021 but we had to get out of our other living situation and didn't want to get priced out with the incoming higher rates and inflation. Nov 27, 2024 · Many buyers wonder: should I buy a house now or wait for better timing? We’ll analyze current realities and 2025 projections so you can make the best decision. I have recently purchased a rtx3070 legion 5 laptop. I dont think im ready to commit financially yet but i believe i should start doing so. At worst if things get rough I live in a college city where I can rent a room to a college student for half market rate and still be able to afford the place pretty easily. tope yoeobzh nzgdizin qloznium plnmys aihjr bhgbqfr tzuvtch yep gqv