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.
10
votes
9answers
504 views
Why is a house “not an investment”?
I have heard a few people say that "a house is not an investment" as an argument to stay in an apartment. (To me, this seems like a stupid reason, but that is not my question.)
Of course, this is ...
13
votes
5answers
245 views
What factors are to be considered when deciding to go with a 15 year fixed vs a 30 years fixed?
What factors are to be considered when deciding to go with a 15 year fixed vs a 30 years fixed?
Pretty simple really; I could make the payments on a 15 year fixed, but at today's low interest rates, ...
7
votes
2answers
105 views
How to take a home inventory?
An answer to the question Spring cleaning for your finances? Is there any activity that should be done annually, with respect to your money? mentioned home inventory:
The Inventory is also very ...
6
votes
4answers
294 views
Looking to buy a house in 1-2 years. Does starting a Roth IRA now make sense?
My wife & I are 28 years old and are looking to purchase our first home in the next 1-3 years. Our financial situation looks something like this:
24% combined gross annual income in low ...
5
votes
4answers
980 views
Should I wait to save up 20% downpayment on a 500k condo?
Proper 2BRs start at $500k in our neighborhood. We're looking at buying, but I'm leery of the $100k downpayment. It would reduce our savings to 50k liquid and 75k in retirement.
I can easily ...
10
votes
8answers
6k views
In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end?
Let us assume a shared ownership house, where everything is 50/50 in terms of deposit, monthly payments, bills, and eventually estate agent costs, and lawyer costs when the house is sold.
If the ...
9
votes
4answers
184 views
What is title insurance, and should I get title insurance for my home?
I have just sold my house and bought a new one. The lawyer I am working with to do all the necessary paperwork has sent me something about "Title Insurance". I am not quite sure exactly what this ...
4
votes
3answers
314 views
Should I take money out of an old 401(k) to put a down payment on a house?
My wife doesn't work anymore and she has a 401(k) of about $80,000 from an old job. I have been kicking around the idea of taking that money out or rolling into an IRA so that I can have better ...
4
votes
2answers
203 views
What is mortgage insurance? Do you have to have it, in order to be approved by a bank?
What does mortgage insurance do? Whom does it protect? Do I need it? MUST I have it, in order to be approved by a bank for a mortgage with them?
3
votes
3answers
160 views
Can my rent to own equity be used as a downpayment?
Here is my scenario.
Homeowner wants $296,000
Will give me letter stating that I have 20% down payment as a result of rent payments being applied toward purchase price.
My question is...does the ...
