Questions tagged [home-ownership]
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.
255
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What are some of the more subtle reasons owning a home is financially beneficial? [duplicate]
I've read the other posts here about how you might be able to deduct your interest from your taxes and that building equity is of course smarter compared to the pure burn of rent, but I want to know ...
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What happens to prepaid HOA fees when HOA goes under?
I have been considering paying HOA fees in advance and lowering my my emergency fund.
Is this good or bad? My idea is that if I can make mortgage and HOA fees 6 months in advance, I would say that my ...
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2
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Can you defer the taxes on the gain of the sale on your home by buying another home?
Consider a (single) home owner who has lived in the home for many years. The home was purchased for $200K and then sold for $600K. That is a $400K capital gain. I understand that the first $250K is ...
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1
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Getting a mortgage in Retirement
Imagine a hypothetical person who is 60 years old with the following assets:
1 million dollars in growth stocks
4 million dollars in low yielding stocks
0.6 million in municipal bonds
About 1 ...
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2
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186
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Sell our home or rent it?
Scenario & Question
We are trying to decide if we should sell our home or rent it out because it's in a good location. Would it be better to rent out our home or sell it and invest the gains (50k)....
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votes
4
answers
6k
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Buy house now, refinance later
I am interested in buying a home as soon as possible, but I'm concerned about the high interest rates - 6.7% as of October 2022. Someone told me to just buy a new home now, accept a high mortgage, ...
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1
answer
228
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Should I stay in a declining (affordable) neighborhood or move into a more expensive one?
I bought a brand new home for my young family 4 years ago. I love my house and have done much to improve it. I can also easily afford my house while contributing to a 401k. When I moved in the ...
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2
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189
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Can/should you pay the down payment for your house on a line of credit?
I’m a first time home buyer in Canada. I need to pull together ~40K to cover the down payment on a house. I have investments which would cover this cost (mostly in total US market index funds). ...
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2
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190
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In USA, is it possible that the increase in value of a private home is eaten by property taxes or property insurance?
I have lived in a rented apartment for some time, while contemplating whether to stay in this area long enough to buy a home. Some friends have been telling me that I could recuperate the mortgage ...
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1
answer
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Cell Tower Rental Fees Transfer to New Home Community
I am about to move into a new home community that has a cell tower
placed prior to the land being acquired for homebuilding.
In its previous life, this piece of land was owned by a non-profit.
...
3
votes
1
answer
191
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Can home equity be used to pay your mortgage?
Traditionally, home equity can be "extracted" in a number of ways: cash-out refinances, HELOCs, or Home Equity Loans. All of these allow you to either directly or indirectly utilize the ...
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5
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7k
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Is it typical to start charging HOA fees before a community is fully built?
I am currently in the process of buying a home at a new community.
My home is part of phase 1 out of 4 phases and will be ready for move-in
prior to the completion of the entire community. But the ...
1
vote
1
answer
68
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Mella Roos Disclosure Requirements (California)
I live in Washington State and I’m in the process of helping my mom purchase a home (I’m paying, but she will be living in it).
Given the competitive market, we recently put in a non-contingent offer ...
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3
answers
170
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Is there a way to buy a house for the average price over some future period of time?
Suppose I thought the current housing market was inflated, and I expected prices to go down in the future. However, I still want to buy a house. So I'm thinking, does there exist a contract where
The ...
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2
answers
162
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Are there any pitfalls to owning real estate as a student?
As title says, as a student in my 20s, are there any pitfals when it comes to (co-)owning (with sibling(s) or parents) a house worth say 500'000€?
Taxes? Less chances of getting student scholarships? ...
- 23
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1
answer
60
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New Home Developer wants Pre-Qualification
Recently I've reserved a home at a new community that has
just barely begun construction. The developer wants all new
buyers to go through a pre-qualification process with their
internal mortgage team....
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0
answers
200
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I just bought a home and I want my new address to not be searchable by using my name. How can I keep my new address from being found
I understand that all real estate transactions are public knowledge. As far as displaying the value of my new home, how much it was purchased for, or if we took out a load or bought it in cash, I can ...
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1
answer
252
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Stamp duty for a couple with one person owning less than £40000 of property overseas
Suppose a couple is buying a house in the UK. One partner is a first time buyer, another owns a share of property overseas with value less than £40,000 (and nothing else). Suppose they are buying a ...
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1
answer
64
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Service for home management (not for rentals and not for HOAs)
To hold off close voters, I'm asking if a service exists and not for recommendations of a specific provider. :)
Are there services out there to assist home owners in maintaining the home that they ...
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23
votes
5
answers
8k
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Why would a seller require a cash offer on a property?
My partner and I are looking at a house in an area that would be interesting to us. It's a fixer-upper that would require quite a bit of work on the inside. She's previously owned a house and ...
2
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3
answers
254
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Equity split between join home owners [duplicate]
My sister & I bought a home 50/50 We are on the deed jointly, and we have no written agreement other than the closing documents. She paid for her half of the mortgage for 2 years, then paid ...
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4
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1
answer
355
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Buying a home in a high-price, climate change-exposed region
I moved to southern California recently for work. This is the first time I'm stable enough to consider buying a home. Based on some standard decision rules for home buying, I'm ready: I can afford the ...
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Selling apartment, what taxes do I have to pay?
If I understand the tax laws in Germany correctly, it is as follows:
Case 1: If I owned the apartment at least 10 years I don't have to pay taxes if I sell at a higher price than I bought it.
Case 2: ...
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2
answers
335
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Buying a condo for 3 years and renting afterwards
This has been asked a couple of times, but I'm still having trouble with the numbers. I'm a grad student and will be in my area for another 3 years. I'd like to buy instead of rent, but given the ...
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6
answers
2k
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How to split monthly profits in a co-owned (mortgaged) home when we invested different downpayments, and only one of us lives there?
My brother and I are buying a home for 415k. The Downpayments are uneven; I pay $28,500 (68%) and he pays $16500 (32%). It seems fair to split profits when we sell the house proportionally to this ...
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5
answers
156
views
Buying a house vs Building one
In theory what is 'cheaper': buying a home or building one?.
For simplicity we could assume that the terrain size is the same, in the same area, using the same house model (to calculate the material ...
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1
answer
234
views
new roof with insurance claim
i got my roof redone recently and insurance paid 22k and it only cost 18k to replace .my name was on check with the roofing company ,so i signed it and gave the check to the roofing company. i have ...
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2
answers
219
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Will home prices ever stop rising or go down? [closed]
I'm from EU and home prices in my city went up by 10% each year before pandemic, when pandemic started everyone said that home prices will go down, but it didn't, quite opposite it keeps rising.
Stock ...
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0
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34
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Is it customary to pay a share of property taxes in a Tenancy-in-Common (TIC) agreement according to the amount paid for your share?
I'm looking at buying a Tenancy-in-Common (TIC) property in San Francisco for which the TIC agreement states the following about how property taxes are divided among co-tenants:
The thing is that ...
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18
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6
answers
3k
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Buying a house with my new partner as Tenants in common. How do we work out what is fair for us both?
My new partner (7 years new!) are buying our first house together. We are both in our late 40s and have been divorced for some years. I have more equity to put down to purchase the house, but he earns ...
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11
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How should I save for a down payment on a house while also maxing out my retirement savings? Is that not feasible at my income level?
I see questions and answers like this one that make a very good point:
Keep in mind it is easy to get a loan for a car, or for a house, or to pay for college; but very hard to get a loan for your ...
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Ownership % and obligation on mortgage payments
scenario: Home value is 800K.
Three investors requiring a mortgage.
One investor can add 70K deposit,
Two can add 40K each.
Question #1: How do I figure out the % of ownership based on different ...
33
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11
answers
9k
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Case against home ownership? High income, no home, don't necessarily want one
All numbers are in USD and my tax situation pertains to US taxes.
I am at a crossroads and am seeking help. I am a single man who has always made a good living and generally enjoy my life as I please. ...
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3
answers
210
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Buy rental property or first pay off debt for own home?
Given the very low interest rates, I was wondering under which conditions it is beneficial to invest in a rental property (maybe with 20% equity) and pay back the loan primarily by the rental income, ...
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1
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135
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Refinancing Profit and loss Statement
I am refinancing a house and thought I will close last week of December, 2020.I met all requirements and has over $100,000 equity in the house, gave all initial required paper work. I have submitted ...
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1
answer
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Property capital appreciation
Im new to financial formulas so bear with the novice in me.
When you hear, guy X bought a property for $400,000 and 20 years later it was sold at a much higher price , and they just subtract sold ...
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1
answer
191
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When the lease on the land on which one's house is located expires in China, how does the renewal work and how is its cost determined?
From my understanding, when someone purchases a house or condominium in China, they typically receive a 70-year lease for the land on which the house or condominium is located. The land is still ...
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0
answers
173
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Are there standard mathematical models for rent vs. buy?
The internet has a lot of "calculators" to decide on rent vs buy. However I think there can be simple mathematical models/formulae to make this decision. I see the following variables, some ...
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1
answer
261
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Do I have to use my realtor on a For Sale by Owner home
I found a For Sale by Owner (FSBO) home that I love through a family friend. The seller has sold two of their homes before with no broker help from them or the buyer. They don't want pay any amount to ...
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0
answers
140
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Wonky credit score situation, when should I refinance?
Back Story
I had 750+ credit in February when I decided to look for a home.
Searched for a home w help from a friend and my brother
Worked with the agent to set everything up
The sellers were looking ...
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4
answers
282
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What is the best way to start investing in real estate if you have no experience?
I want to buy a condo to live in as a starter home but want to begin renting it out at some point after I buy it, presumably when I have enough money to buy a larger home, as opposed to just selling ...
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2
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278
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Should I live in someone else's property for free or should I house hack?
I'm in my mid twenties and my financial goal is to be able to retire early with probably an average workers' income as passive income.
I have an opportunity to manage a property, including renting out ...
user99899
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1
answer
182
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How to use savings to buy security
I am a 28 year old single male and I have about 30k USD in my retirement account and 100k USD in my savings and checking accounts. I'm on track to save another 30-40k through the rest of the year as a ...
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2
answers
510
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Can you gain access to the equity in your house by selling it to yourself?
I am sure many people are in a situation like this: I've owned my house for a while and now there's a decent amount of equity in it which I would like to tap into. One option is to get a Loan or HELOC....
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1
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Can ownership percentage go down if the home value goes down?
Husband and wife together with mother buy a house $452,855 purchase price in 2005. Mother puts down $152,000 downpayment H&W hold mortgage of $300,855.Mother has 33.6% ownership and H&W have ...
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2
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160
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Shared ownership with sibling
Here is my current situation:
I am looking to purchase a property with my sibling that we will both live in. They are a graduate student, so their current income isn't great ($25,000/year) but they ...
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3
answers
219
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How does equity work if you use equity to for a down payment on a second house?
If home equity is used as a down payment on a second home, how much initial equity does the second home have? is it equal to the equity-down-payment as in a cash down payment for a home?
Say you have ...
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1
answer
308
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Does purchasing a second home qualify for 401K hardship withdrawal?
I just asked Vanguard and they checked my withdrawal availability:
Either Hardship withdrawal may only be taken for the following
purposes:
Purchase of a primary residence.
Prevention ...
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1
answer
228
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Am I causing any problems for myself by having no records of owning or leasing a residence?
Nothing prompted this question other than wandering curiosity.
We know that it is possible to suffer a poor credit score due to a thin credit history and lack of variety of credit.
Is it ...
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2
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223
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Should I invest in house? [duplicate]
I'm a 26 year old guy living in Croatia (Europe) in a coastal town known for tourism.
Average salary in Croatia is around 700€, while I have a steady job and earn 1700€ (after tax) as a software ...
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