September 3, 2020

should i buy a house now or wait reddit

I'm paying $500 a month in rent to my dad plus I have some grocery and other living expenses.

I’ve been with my Agency for 9 years and have luckily been extremely successful in Insurance Sales. Is the whole rental market in your area that cheap?If you are in a special circumstance where you're able to rent far below market rate, I don't see why you should be very motivated to own. Weather is acting the fuck out there. To top that off I might rent a room out to a tenant or maybe two and make them pay my mortgage while I am at it.In terms of your last statement. Press question mark to learn the rest of the keyboard shortcuts

Join our community, read the PF Wiki, and get on top of your finances!Press J to jump to the feed. And at least that way when I need to move or whatever, I can sell it for some money back. We are looking for something modest since it is just the 2 of us. You will then have a nicer house to enjoy and when you sell it will sell faster and for more money if it is in good condition.

So really it is like insurance. If you don't have to buy or sell immediately, you might be well advised to wait a while. If you need some type of creative financing to afford your house, then you simply can’t afford it.

Or should we just take advantage of the Low Interest Rates and buy something with a lower Down Payment now. Several months from now, the price of that retirement home you want to buy … Ah!

I see a lot of people make the mistake of assuming landlords just absorb the cost of everything.I'm somewhat familiar with the closing costs. In many parts of the country, the real estate market seems to be rebounding. Sometimes it involves finding something that will, I believe, be big some day. It's overpriced right now in my opinion (fellow AZ resident). You can take the money you're saving by not having a mortgage, maintenance costs, home insurance, etc. It’s impossible to time the top. We’re hoping to start getting all the information soon, thanksConsidering your ages I would not upgrade your house. However, with the current Interest Rates I'm wondering if it would make sense to just buy a House in July and do a Conventional Mortgage with 5% Down.So my question is, should I go with my initial plan of continuing to save for the rest of the year to grow our savings?

We know we will eventually find a vaccine and/or treatment. The best thing you can do is not over leverage yourself and to buy within your means.Personally, if you're paying only $600 a month for rent I would stay doing that.

I was recently promoted to a position which pays very well.

In my experience, it takes about a year for a new market to develop and for everyone to become comfortable with the new normal.Good investing ideas, often contrarian, constitute my brief, here at Forbes.com. Don’t fall into this trap. For real. No reason to throw money away on PMI and property taxes if you aren't even going to have significant equity for a decade. 3) it would be another year of wear and tear on a house that already needs work. This is my first time looking into buying a house and I have a lot of questions and even more anxietyWithout knowing your revenues or what the current market value of your home and the home you’d like to buy, it would be hard to provide any sort of adviceIt sounds like you are wanting to downsize into a more expensive house? Future corrections/recessions could be caused by something else entirely.The issue is that when you go through a correction to the level you're describing (enough to sizably impact real estate markets as a whole) you're also likely to have impacts to the job market that will impact your ability to qualify for a loan.Timing markets isn't possible.

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