Any questions related to Home Ownership. There is a related specific tag for Mortgages. It is recommend you include a country, state tag, or location in your question.

learn more… | top users | synonyms

0
votes
1answer
19 views

Advice on helping younger relatives to buy a house in the UK

Younger relatives of ours would like to move to our area but it's quite expensive - they can only really afford half of a house deposit. We've just come into enough money to make that up to a full ...
0
votes
4answers
81 views

How to take advantage of home appreciation

Lets say my home's value appreciates considerably. How can I take advantage of this? I'm unwilling to downgrade (all the other houses in my area has also appreciated, so if I sell and re-buy, I would ...
1
vote
1answer
122 views

Purchasing a condo vs renting when monthly payment is very similar

Basically my mother wants to move closer to us and rents range from $1900-$2000/month for a 2br place. Condo's similar size with mortgage, insurance, taxes, hoe, etc come out to be $2k-$2.2k/month. ...
7
votes
1answer
142 views

At what damage amount should I pursue a homeowner's insurance claim?

We have a recently built house (2008). This past year, a roof leak materialized. I am out of pocket $3250 for several contractor visits that tore out interior drywall, recaulked flashing and siding, ...
0
votes
2answers
97 views

Home ownership or renting

I grew up an orphan...even though, I've been able to save up around 40K..not enough for a down payment for a house where I live now, but kind of close. I am 35, and made the crazy decision of being ...
6
votes
1answer
97 views

Is it possible to deduct mortgage interest if you aren't named on the mortgage?

In the US, if I obtain a mortgage in my name, can my wife (who contributes to the downpayment/mortgage payment) claim the interest deduction on her taxes? A lot of sources I'm finding online say ...
4
votes
5answers
635 views

How come the government can value a home more than was paid for the house?

If you buy a house at a foreclosure for $100,000... how is the government allowed to value that house at $180,000 for tax reasons. How is what the house cost not exactly the value of it.
1
vote
2answers
48 views

Supplemental Property Tax Assessment (Article 13A) California

We have had the joy of receiving two property tax bills this year. One in the amount of about $7,000, which is the one we expected for the property. We purchased a new house from a builder in May ...
-6
votes
2answers
89 views

Can you buy a certain section of a house?

For example, if the owner is willing to sell the roof of their house (which has a flat roof that allows for building an extra floor)? Which type of deed would be required for such a purchase? If ...
1
vote
1answer
110 views

Home warranty policy is not in effect

I bought my current house in dec-2014 and during the buying process I got the home owner's warranty which was paid by the escrow account ($550.00). This warranty should be good for an year and renewed ...
0
votes
1answer
94 views

Paid appraisal by credit card but found out at closing it was just a portion?

I recently did a home refinance and I paid (what I thought) was the entire appraisal fee on my credit card early on in the process. I put the $360 appraisal fee on my Amex. At closing, the appraisal ...
10
votes
3answers
2k views

Why is it good to borrow money to buy a house?

In most cases of purchases the general advice is to save the money and then make the purchase. Paying cash for a car is recommended over paying credit for example. For a house, getting a mortgage is ...
4
votes
3answers
531 views

3 car garage vs. 2 car garage home ?

I am choosing between buying a brand new house. I have two options. Both houses are exactly the same, but one has a 3 car garage, and the other one has a two car garage. The 3 car garage house is ...
12
votes
4answers
3k views

What percent of the profit do you get from selling a home with a mortgage?

This is a very simple question, but I've had a hard time finding a simple answer. Suppose Bob has a home that's worth $100k, with a mortgage, with $50k of the principal paid off (so he still owes the ...
0
votes
0answers
54 views

Pros and cons accepting partial ownership of company as opposed to inheriting

My father owns property (buy to rent) and manages this through a small business in the UK. He probably has assets worth in the region of 750,000 GBP but is also still paying down the mortgages on each ...
0
votes
4answers
249 views

How can we force one of the joint owners of a shared property to sell it?

I live in CA. I co-own a house with my sisters. The older sister is living in the house in Texas and won't speak to us, so cooperation is not a solution. How do we get her out of the house so we can ...
0
votes
2answers
218 views

Is there any reason to add my spouse to home title?

I am about to move to Texas and am under contract to purchase a house with 100% cash. I went on the house hunting trip alone so my wife is not listed in the contract. My realtor suggested that I ...
1
vote
1answer
92 views

Cost comparison of cities

I'll graduate very soon with a computer engineering degree. I'm lucky enough to be in a field where there's a lot of openings in the city I live in right now (population: 100 000) but it requires a ...
0
votes
0answers
52 views

real estate property that spans across multiple jurisdictions

Hopefully this isn't off topic, it's about real estate and this is the best SE site I can find. I'm looking at starting a business on a fairly large parcel of land. Once I looked at the assessor's ...
0
votes
1answer
54 views

Home Ownership Entitlement [closed]

I need some advise please. Me and my girlfriend bought a house together. The cost of the property was R720 000.00. I gave R500 000 cash and she got a bond registred in her name for the remaining R220 ...
5
votes
5answers
1k views

How do I calculate ownership percentage for shared home ownership?

I am having trouble coming up with the ownership percentage I should allocate to each co-borrower. Here are the details: My husband and I are one co-borrower and my sister is the other. We are ...
-2
votes
2answers
131 views

Is UK house price spiral connected to debt based monetary system? [closed]

Is the monetary system's debt basis* driving government policy on housing and property, and how could this ultimately affect personal housing affordability? The UK has an ongoing 'situation' with ...
4
votes
1answer
174 views

Capital gains when selling in the US and buying in another country

I have owned my home for over 10 years. I would like to sell it and buy a new house, and I understand that if I do so, I can avoid paying capital gains. My question is, if I'm buying the new house ...
2
votes
1answer
1k views

Basic bookkeeping account entries for a house purchase and mortgage?

I borrow 200,000 to purchase a house worth 250,000, putting down 50,000 of my own. The borrowing is at 5% over 30 years. What are the basic double-entry bookkeeping entries I must make to record this ...
2
votes
0answers
169 views

Maintenance costs for home geothermal heating & cooling / ground source heat pump systems?

My realtor showed me a brand new house that has a geothermal cooling and heating system built in. I did some online research and here is the link to that builder's geothermal system explanation. ...
6
votes
2answers
2k views

Can my mortgage company force me to buy condo hazard insurance?

I live in the United States and have a mortgage for my condominium. After 10 years under my current policy, I suddenly received a letter from the lender, saying "A review of our records indicates we ...
3
votes
2answers
726 views

United Kingdom: Where to save money for a property deposit

I'm currently 22, and I would like to buy a property at some point in 5-10 years, once I can afford the down payment (deposit). I live and work in London England, so for this example, assume my ...
2
votes
2answers
639 views

Whats tips do you have for someone beginning to invest in property?

For a first time investor interested in investing in property, what are the options? Would they be better off buying their own home and holding it for capital growth, or a buy-to-let property they ...
0
votes
1answer
50 views

Loan Application in South Dakota

A co-worker of mine is going in to apply for a loan and start the closing documents for their home, and from the sounds of it they are not going through a Realtor because they are already living in ...
1
vote
1answer
78 views

Selling a home with rules test question

My overall question may require some background so I will detail some items. They may or may not apply. I owned a home in Pa. from Dec 2007 until Aug 29, 2011 in my name only, even though I was ...
8
votes
1answer
462 views

Can't sell my house because of HOA delinquency rate

Just found out a few days before settlement on the sale of my house that most lenders will not lend funds to a buyer if the property they are purchasing is part of an HOA community where more than 15% ...
3
votes
2answers
85 views

Can I rely on my home equity to finance large home repairs?

There are certain "big ticket" home repair items with long expected lifetimes, such as your furnace or your roof, that could fail suddenly before that lifetime is up and need immediate replacement. ...
2
votes
1answer
353 views

US tax Implications on (sort of) buying a house in India

I live in the US (a student on an F1 visa) and my dad, who lives in India, is buying a house in India. He wants to register the house in my name, just as a gesture. I am NOT investing any money in the ...
1
vote
2answers
566 views

Refinance when going to sell?

I currently own a home with a mortgage at 4.25%. I'm five years into a 15 year loan. My wife and I would like to sell within the next three years and we have almost 50% equity in the house. We ...
3
votes
1answer
171 views

Dealing with Home inheritance

I have been living in my grandmother's house for the past 20 years. The house has been paid off for years. During that time, I have taken care of her and the house until she got bedridden. My aunt had ...
-1
votes
1answer
136 views

Renting or owning my home?

I have been renting a home now for about 4 yrs. The money just seems to go into the monthly rent and its gone. Would I be better off purchasing and owning my own home. I live off of Social Security ...
0
votes
2answers
421 views

What is a “property tax assessment”?

Zillow list property taxes near the bottom of any listing. There are two main columns, Property Taxes and Tax Assessment. On an example $350k home for 2014, Zillow list the two values as: $1900 and ...
3
votes
2answers
236 views

Steps to buying a home

My wife and I are looking into buying a home. We are discussing home vs. co-op, I don't want the co-op I'm to worried about re-sale which I think will not exist. Basically what are some good steps to ...
31
votes
5answers
4k views

What are the economic benefits of owning a home in the United States?

I am trying to figure out if owning a home is more economical then renting. According to all the tools, according to the rent I pay now (< $800) owning a home is not economical, even in the long ...
6
votes
5answers
508 views

Home owners association for houses, pro/cons

(there is a question about home owners associations for condo communities here, so this is a) not a duplicate and b) fit for this website) In most contexts where I hear about a home owners ...
20
votes
5answers
7k views

Dad paying for my new home in cash. How can I buy the house from him?

We found a home we would like to purchase (U.S.). It was the 2nd day on the market and there were already two other offers for it, so we decided to make a cash offer ($230K) as my dad agreed to pay ...
5
votes
4answers
327 views

Sudden Wealth Management

My father passed away last week. I am not yet sure how much his life insurance is, it will be anywhere between 100k and 250k, which I know is a big range. Either way, I am having a bit of anxiety as ...
0
votes
1answer
154 views

Financial implications of purchasing a first home?

My girlfriend and I bought our first home and I'm wondering what finance topics this touches on? Some relevant info might be: We're in Vermont We aren't married We bought the house in late June ...
13
votes
6answers
5k views

Is it okay to put household utilities in girlfriend's name if I own the home?

I just bought a house. My girlfriend is going to be living with me, but the house is in only my name. To split the expenses, we are planning on her paying all of the utilities. Is there any problem ...
4
votes
1answer
211 views

What are the costs of using home equity to invest in another property?

I'm wanting to find out some details of using the equity I have in my home to invest in another property. Specifically, about the costs of the loan(s) involved. I'm currently assuming I need a ...
2
votes
2answers
60 views

Need to Purchase Homeowner's Association Documents?

I'm selling my home. As part of the transaction, I'm being asked to get some documents related to my homeowner's association: the bylaws, the rules and regulations, minutes, something called a 22.1. ...
2
votes
2answers
410 views

Can I afford this condo?

I just found a condo I really like and I am debating with myself whether it would be a good idea to pursue it from a financial perspective. I'd like to get some educated, objective opinions on my ...
4
votes
3answers
701 views

I am turning 18 and I am a Student, I need strategies on building great credit soon. Where should I start?

I am High School student in the top ten percentile and I am turning 18 in a few months. I need strategies on how to build and maintain a great credit score quickly. I have had the same job for over a ...
1
vote
0answers
126 views

Standard versus Enhanced Owner's Title Insurance

We are getting ready to close on our house, and I was wondering the circumstances under which an enhanced title insurance is better than a standard ALTA owner's title insurance. Here is a comparison ...
3
votes
1answer
196 views

What is a cash back mortgage and should I consider using one?

In speaking with a mortgage adviser recently, I found out about cash back mortgages. I was wondering if someone here knows about this and could tell me if they are a good idea? To give you some ...