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.

Filter by
Sorted by
Tagged with
1
vote
2answers
131 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
votes
2answers
201 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
votes
8answers
6k 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 ...
1
vote
2answers
474 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 ...
0
votes
1answer
57 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
votes
2answers
162 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
votes
9answers
11k 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
votes
1answer
40 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
votes
1answer
226 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?
0
votes
3answers
171 views

Able to pool funds for a downpayment and co-ownership of a home?

I want to buy a house but I do not have quite enough for the 20% down payment I'd ideally like to post for the mortgage. My wife and I are thinking of chatting with our family and getting together ...
2
votes
1answer
46 views

Switching homeowners insurance - are there any considerations to take into account during the transition period?

My current homeowner's insurance has bungled a recent repair and I'm ready to move to a new company. I have done the research and found a firm that I feel very comfortable with. I'm planning to switch ...
28
votes
7answers
12k views

Why would a rational buyer offer to buy with no conditions precedent?

Assume that the Canadian Reddit commenter beneath is rational. I corrected typos. As an investor, I have a tactic where I only buy houses via the listing realtor, and do not use my own. Why? ...
1
vote
1answer
184 views

Paying the rent with profit of private investment company: What what would be the best construct?

My partner and I have rented a home in a small village and would like to stay there for many decades to come. However, I feel uncomfortable being a tenant. So, we have saved enough money to buy a ...
3
votes
1answer
188 views

What does 'raise money on the security of the house' mean?

I am reading about a personal finance situation in which "A 78 year old widow wanted to help her nephew raise money on the security of her house, provided she can remain there for life. I'd like to ...
3
votes
3answers
261 views

What (and how hard) can I REALLY bargain when buying a new home through a builder?

I am about to buy a brand new home in the state of Texas. It should be ready in about 12 months. The home is being bought through a builder and therefore I have a few floor plan options (I can add or ...
0
votes
1answer
82 views

Should I pay off my home mortgage due to TCJA cutting SALT deductions?

Definition Under prior law, in addition to being allowed to deduct 100% of state and local income (or sales) taxes, homeowners could deduct 100% of their state and local personal property taxes. ...
0
votes
1answer
184 views

401(k) losing money, considering withdrawal to pay off mortgage

I left my job 13 years ago with $80,000 in a 401(k) plan and $500 a month pension. Two years ago the company told me that I had to get money for pension. I had already lost $45,000 of my 401(k) due ...
62
votes
8answers
19k views

Should I deplete my saving and buy a house with cash, or should I rent?

My wife and I are very frugal. We've been living abroad for several years and saved a decent amount of our salaries. We've decided to move back to the US this year. We've found a modest home that ...
2
votes
2answers
150 views

When buying a house in California, what inspections should you do?

I am in the process of buying a house in Indio, California In the event my offer is accepted, what type of inspections do I need to do. I am actually living in the UK (the property will be a short ...
0
votes
2answers
186 views

Buying strategies for foreclosure condos

I saw a foreclosure condo which seems upgraded by the bank. I really liked the place, but the price can be cheaper. Can we negotiate with the bank on such foreclosure houses? What are some ...
2
votes
2answers
393 views

Strategies on buying a house for a first-timer

I'm 29, and I live in Chicago NW suburbs. I pay a lot for rent, so I am planning to buy my first house. I have no prior experience on this. What are some tips and strategies to buy a home? More ...
2
votes
2answers
263 views

how to divide ownership of a house with family member who stopped contributing 8 years ago?

My brother and I bought a house together back in 2006 for $270k. We both contributed 50% to the mortgage between 2006 and 2011. My brother moved out in 2011 and stopped contributing to the mortgage, ...
0
votes
1answer
51 views

Real Estate Agent Exclusive Agreement - Geographic Restriction

I am searching for homes in two different geographic locations in NJ. I was refereed to an agent who is local to one area I am looking at buying. I told him I may want to look further south and ...
1
vote
3answers
378 views

Running the numbers on buying a house for 3 years instead of renting

My SO and I moved out to a new city while she's in med school. We're currently in an apartment paying ~$1,300/mo (after utilities, etc...). However, the other day I realized 2-3 bed houses here cost ...
1
vote
4answers
456 views

European banks, low interest rates and “free money” for home owners?

Where I live in Scandinavia and across Europe, interest rates are very low. More and more people are using the rising value of their home to draw out money. I would almost call it "free" money when ...
2
votes
2answers
218 views

What are the unknown costs of getting out of a housing purchase?

I just got the appraisal back on a house I am under contract to buy, and the appraisal is "passing" but not impressive. I'll admit I screwed up doing my due diligence. I can easily not qualify for ...
0
votes
3answers
222 views

How can I offer a price lower than the listing price, without angering the vendor?

Dan Barnabic, Post Graduate Engineering (Naval Academy Rijeka). The Condo Bible for Canadians (2013). p. 25. Notwithstanding market conditions, always start with a low offer — say, 75% of the ...
56
votes
4answers
19k views

Why would a home seller ask a buyer to offer LESS?

My brother-in-law is looking to buy a house. The house he wants has been on the market for a long time, and it's in pre-foreclosure. The owners are underwater on it. He submitted a lowball offer, ...
3
votes
1answer
117 views

How can I claim a tax deduction for home improvements made to my rental property?

Scenario I need to do 5k worth of home improvement in the form of replacing an A/C and a furnace. The property is a rental and I'm probably going to break even this year. On the other hand, I have ...
0
votes
1answer
240 views

To make a Gift Deed or Sale Deed

I live in a house that have a share of my brother. I want to pay my brother share in cash by taking a Home loan. The house is in name of my father. Now I am confused & blank about thinking that ...
38
votes
9answers
10k views

Why would the bidding on a foreclosed property start at the outstanding amount of the loan?

I've read from several reliable-looking sources that if a foreclosed house goes up for auction, the bidding usually starts at the outstanding amount of the loan (plus fees, etc.): Example Money Talks,...
2
votes
4answers
229 views

Best way to save up for a house

When trying to save up for a house, should I make sure that money is put in a bank account and is liquid? Or do I put it into some mutual funds and take out the money when I have enough for my down ...
1
vote
2answers
167 views

Is home ownership in the US only a decent investment beause it's leveraged and tax-advantaged?

Long term, home prices in the US are relatively flat when indexed to inflation. Even in the Bay Area, a market that's seen a lot of recent growth, the S&P 500 has outperformed housing. Ignoring ...
0
votes
6answers
576 views

How do owners of one home make money on the sell-and-buy process?

With school loans diminishing and job salaries rising, there is constant pressure among family and friends to start looking for a home and stop renting. "It's a great investment", they say, "and it ...
0
votes
2answers
75 views

Out of state property for a secured home loan

How can I use a house fully paid in New Orleans as collateral to purchase a house in Washington state? Do I need to have the New Orleans house appraised? In 2010 my dad died leaving me the house he ...
1
vote
3answers
228 views

Saving for a New Home

My wife and I are saving for a new home in NYC. The only debt we have is a student loan (about $26k left at 3%). We have $47k in the bank and our Household Income (HHI) is about $300k. We owe just ...
4
votes
1answer
163 views

IRS ramifications of renting to a family member who also entitled to 1/3 of home (informally)

My mother quit claimed her mortgage-free home to me many years ago. It was understood that she would retain financial control the remainder of her life, although never formalized as a living trust. ...
0
votes
1answer
77 views

Paying off a Line of Credit and buying a house

I have an offer from a friend. They currently have a Loan with a house that they own(no mortage,etc) as collateral. They would like me to take over the Loan in exchange for the property, i.e. I pay ...
2
votes
2answers
118 views

Help required on equity share setting up a cohabitation agreement (UK)

My partner and I are in the process of setting up a cohabitation agreement but struggling to come to an agreement of equity split. At the point I moved in with my partner he had equity in the ...
0
votes
1answer
93 views

What does the FHA insurance schema actually mean?

Because of my low savings, but high-income/high-credit-score scenario, I'm only able to get my first house by using an FHA loan (as far as I can tell.) I want to do a 3.5% down, 30-year loan for a ...
0
votes
2answers
620 views

Is there a standard way to calculate property joint ownership percentage when one party has put in zero deposit? [duplicate]

Is there a standard formula/convention to calculate the % of ownership on a property based on the following situation I am buying property together with my partner and her mother. Lets assume for now ...
3
votes
1answer
165 views

Is it possible to get a big personal loan for foreign investment?

I'm from the UK, working as a contractor for a US company, earning $30k+ annually, and I want to buy a house costing around $100k in a non-EU country. I need an investment visa to do this. A ...
0
votes
2answers
106 views

What are my options for tax deductions if buying a house for my sister (complicated)

I am looking at buying a home for my sister to live in and I am trying to figure out if I can deduct any of the interest/payments. This is a pretty special case from what I can tell - I can't tell if ...
7
votes
4answers
499 views

How much can I trust Zillow's “Zestimate” of my home's value?

My wife and I purchased a townhouse almost two years ago. I've signed up at Zillow to receive occasional (monthly?) "Home Report" emails which includes a "Zestimate" of my current home's value, as ...
0
votes
2answers
406 views

How much house can a retired person afford

Consider a single person with a net worth of N where N is between one and ten million dollars. He is retired and has no source of income other than his investments. He wants to buy a home which means ...
3
votes
1answer
258 views

Mortgage Company Holding insurance premium payment til repairs made

I am 70 years old and not in good health and do not know what to do to get my problem solved. My home was damaged by Hurricane Irma Damage estimate: $7500 My deductible was high: $13,200 So I ...
2
votes
0answers
67 views

Who is responsible for verifying seller of property has authority to sell?

I recently purchased a condominium and am now in a situation where my ownership of the condominium is being questioned. The sale was a probate sale where the previous owner passed away and the sale ...
1
vote
1answer
96 views

Claiming more deductions in paycheck to pay house downpayment?

I am in my 20's and single with no dependents and I am saving hard for a home. My goal is buying a place by late 2018. Currently I claimed very few deductions on my regular paycheck so a ...
21
votes
7answers
9k views

Can an unmarried couple buy a home together with only one person on the mortgage?

Suppose there is a couple, Clayton and Emma. Clayton is 26 and has a good job making over $75k a year, Emma is 20 and still in college (she doesn't have any student loans but she has no job and no ...
1
vote
2answers
615 views

What is fair between 10 owners of an estate? [closed]

My father passed away in 2014, and my mother in 2012. They left a will 30 years old. They had my 2 sisters as executors. We were never told anything and they had me and my sister pay rent. I paid for ...