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.

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1answer
46 views

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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3answers
152 views

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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2answers
131 views

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? ...
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1answer
51 views

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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0answers
170 views

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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1answer
78 views

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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1answer
56 views

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 ...
23
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5answers
7k views

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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3answers
210 views

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 ...
4
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1answer
204 views

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 ...
3
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0answers
72 views

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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2answers
230 views

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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6answers
1k views

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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5answers
141 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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1answer
96 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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2answers
202 views

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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0answers
29 views

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 ...
18
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6answers
2k views

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 ...
15
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11answers
2k views

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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2answers
69 views

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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11answers
9k views

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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3answers
200 views

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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1answer
97 views

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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1answer
42 views

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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1answer
158 views

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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0answers
97 views

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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1answer
228 views

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 ...
2
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0answers
140 views

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 ...
3
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4answers
270 views

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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2answers
266 views

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 ...
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1answer
166 views

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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2answers
381 views

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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1answer
86 views

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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2answers
138 views

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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3answers
186 views

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 ...
2
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1answer
209 views

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 ...
1
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1answer
227 views

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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2answers
216 views

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 ...
7
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3answers
2k views

Why is 5 years the 'magic number' for how long one should live in a home? [duplicate]

It seems common knowledge that it is good to buy a home if you plan to own it for 5+ years as seen in this answer as that is the point at which you will make up for losses(e.g. realtor fee) ...
1
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1answer
82 views

Getting an FHA with less than 1 year of self-employment income

My wife and I (in our 20's) are looking to purchase a home in September after our lease is up, but won't quite have enough for 20% down by then (most likely 10-15%. I've currently switched from W2 ...
1
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1answer
183 views

Financing a house

So I'm in an odd situation. My mom, who has cancer, was about to be foreclosed on by defaulting on her HELOC. Not wanting to lose my childhood home and seeing an opportunity to get into property ...
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2answers
148 views

Should relocation to more expensive area affect home-ownership decision?

I am about to relocate (from outside the US to Massachusetts) for a limited time period (~4 years). Compared to my current job and expenses, both prices and wages should be approximately X1.5 times ...
2
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2answers
210 views

Add joint owner to title of a fully paid house in the United States

While married, I bought a property, in my name only, nine years ago. It has been fully paid off for six years. I want to add my spouse of 20 years as a joint owner on the title. What is the process ...
12
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8answers
7k views

How much income am I getting by renting my house?

I am moving from Portland, OR to SF Bay area and therefore contemplating whether to sell or rent the house. I am not planning to move back to this house. Property details: Bought for : $267,000 Paid ...
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2answers
509 views

Is it more financially sound to own 100% of one property or 50% of two properties?

Property A: 3-bed flat in a decent location, say, worth $100k Property B: 2-bed flat in a marginally worse (but still decent) location, say, worth $75-80k Person X and person Y both inherited 50% of ...
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1answer
68 views

Which option to invest savings on home ownership? [closed]

I have savings of ksh 1m to invest in a residential plot(1/8th of an acre) - not built - in the suburbs of Nairobi city - say 30km from the city (Kitegela). the plots cost from 2m-3m, is this a good ...
2
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2answers
225 views

How do I calculate what percentage I will own of my parents vacation home?

My parents own a vacation cabin that I would like to invest in. The cabin is worth $330,000 and they have a mortgage on it with a balance of $125,000. They took out $40,000 of their primary ...
40
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9answers
12k views

Do I care if the housing market has gone up or down, if I'm moving from one house to another?

I can see several cases in which it obviously IS important if the market is high or low. e.g: if I'm buying my first house if I'm retired and selling my last house if I'm moving to a very different ...
0
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1answer
44 views

How much is paid in taxes if the Homeowners Tax Deduction equals a person's Income Tax amount (USA, FL)

I was wondering how much of a yearly tax payment could be deducted using the homeowners tax deduction. I know that the policy allows for a deduction of the interest payments amount for up to $750,000. ...
2
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1answer
236 views

How do we guarantee my live in girlfriend’s interests when we share expenses?

I am buying a house because my credit is better than my girlfriend. How do we go about after the purchase if we share expenses and how do her rights get protected?

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