Questions tagged [house]

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19
votes
9answers
6k views

Best ways to invest for a planned house purchase in 1 year?

I've just sold my house after relocating and got £45,000. I am now looking for a house to buy. In the area where I live now houses are around £500,000, so I will need at least £50,000 for the deposit, ...
0
votes
2answers
262 views

Container Homes, do they hold value?

I've recently seen a TV series called Container Homes, where folks work with local contractors to turn 40 foot containers into homes. They seem quite durable, made to last multiple ocean crossings ...
2
votes
0answers
123 views

If you are married, your house's capital gain is tax free for the first $500k. But what if your spouse is not a citizen?

If she is not a citizen or if she doesn't not have a green card yet, does this apply? I think the rule is that she also has to live in the house for 2 years in the past 5 years, so she will need to ...
1
vote
3answers
164 views

calculate equivalent yearly interst rate on house purchased with a mortgage

I've got 60k and I'm looking at buying a house for 145k. The bank offered me a 20 year loan of 100k at ~1.8% interest rate. After 20 years I would have repaid the bank around 16k, according to their ...
1
vote
2answers
213 views

Removing ex wife and adding new co-owner to mortgage

I am finalizing a divorce where I am being given ownership of our house. The house has a joint mortgage on it, which I will be assuming, While removing my soon-to-be ex wife from the house, I would ...
0
votes
2answers
139 views

Renting Part of the Home

I am currently living in a rented house. I am thinking of buying a home with the intention of renting out a section (for example, a two story house, live on the first floor and rent out the second ...
1
vote
3answers
382 views

Should one always put 20% down?

I can afford to put up to 25% down in the price range I'm looking at. Assuming average market returns and a high credit score of 800, should I always put 20% down, or should I put less? It would seem ...
0
votes
1answer
88 views

Pay the downpayment in 24 months or save money then pay the downpayment in 1 go?

I am planning to buy a house. In our region, you have the option to either pay the downpayment in a monthly basis if it is too much of an amount for you. That is the first option. 2nd option is to ...
0
votes
0answers
63 views

Quit Claim Deed: Role Titles

I currently own my house with my son. The deed is a joint tenancy with rights of survivorship between me and my son. I would like to relinquish my portion and give it to my wife, with my son's ...
10
votes
2answers
7k views

Offered money to buy a house, seller is asking for more to cover gap between their listing and mortgage owed

I am purchasing a house, and apparently the seller owes more on it than what he listed it for. His realtor is now asking me if I can come up with 4000 dollars to be able to close. Is this legal? If I ...
0
votes
3answers
332 views

Is it a good time to buy a house now? [closed]

I saw a few houses, and decided to buy one of them. A condo originally priced 210,000, and they accepted my 193,000 offer. I'm a first time buyer, with zero experience and my agent helps me with ...
3
votes
4answers
457 views

Made an offer to buy an apartment, but the actual size is smaller than the one that was promised

Some time ago I decided to buy an apartment, so I started looking for one. I found one, sold through an agency, that I liked. The description on their website reported (and still reports even now as I'...
0
votes
1answer
358 views

Buying a house over a long period of time without a mortgage

I will soon receive a sum of money which will allow me to pay all cash for a house. However, I'd rather pay for the house over a long period of time. I would like to put the unspent money to work in ...
1
vote
1answer
81 views

House under-appraised (tax appraisal)

I know someone whose house was massively under-appraised (tax appraisal) after it was constructed on their lot due to some sort of glitch or misunderstanding. It turns out the appraisal was much ...
2
votes
1answer
167 views

Signing house over to next of kin

A friend has been considering signing her house off to her children (48 and 47 years old) but believes that there is an age limit which she has passed, supposedly 60 and she is now 70. Is this a real ...
2
votes
1answer
136 views

What are risks / expenses to buy a house in Germany?

I think about buying a house in Germany (Frankfurt). How can I learn full list of expenses I should pay next at least ~15 years? My friend scares me that there are always hidden problems like central ...
2
votes
0answers
83 views

Sane master insurance policy for two-unit condo association

I live in a two-unit condo building (conversion from old house) in Massachusetts, and both units are owner occupied. Our master insurance policy for the condo reads like it is meant for a large condo ...
1
vote
3answers
360 views

No down payment for a house

I'm 19 I don't plan on owning a home until I begin my new career as I'm almost certain they won't have me stay at my home field location. So as of right now I'm trying build up my emergency savings. ...
5
votes
1answer
245 views

Finding problems with house after purchase

We recently bought a house in Nebraska, USA. I am British and this was my first experience of the US home buying process (and I hope my last!). I am hoping for some guidance as to whether either the ...
3
votes
2answers
202 views

HTB ISA/ Lifetime ISA - combining them to use for a house deposit

I opened a HTB ISA with Halifax (paying 3.5%), as soon as they became available in December 2015, and have been contributing the maximum amount since. I then opened a stocks & shares LISA (with ...
2
votes
1answer
147 views

UK House buying deposit from sale of current property?

We've just started overpaying on our mortgage so it costs us less in the long run due to interest. However at some point in the semi-near future, we'd like to move house. With this in mind, should we ...
4
votes
5answers
2k views

New car: buy with cash or 0% financing

Here's my current dilemma: should I buy the new car I'm looking at with cash or have 0% financing for 72 months? For reference, here is some info about me: I am currently living at home. My plan is ...
0
votes
2answers
320 views

Math Behind Buying a House with Calculations

This is a follow-up question to Math Behind Buying a House As many answers pointed out, my calculations in the previous question were flawed. What do you think about the updated calculations below ...
32
votes
8answers
15k views

Math Behind Buying a House

Is following calculation correct? I spend $1500/month on average on rent. If I rent for the next 3 years, I would be spending $54,000. I can buy a house for $220,000 today and spend the same amount ...
7
votes
4answers
6k views

Townhouse or stand-alone house for a first home?

My question is- What are some of the pros and cons of buying a townhouse vs a standalone house for a first home for my girlfriend and I? Some potentially relevant information: We live in the US and ...
5
votes
1answer
342 views

Home sale: No right to terminate?

I'm making an offer on a house. I was informed that the seller, a relocation company, is asking for the following: a right of the buyer to inspect but "no right to terminate." That is, I would have ...
6
votes
1answer
294 views

Contribute extra to companies 401k with the intention of withdrawing it for house down payment?

My company has a generous 401k program, they contribute 50 cents for every dollar that I contribute, with a very high maximum contribution. Let's say I plan to contribute $10k per year for my ...
2
votes
2answers
722 views

Bought a house last year should I hire a tax consultant?

I generally do my tax returns using Turbo-tax. It is generally pretty straight forward, single salaried employee filing returns. In the last tax year, I got married and bought a house. It makes me ...
2
votes
2answers
146 views

Replacement or Similar savings scheme to the UK's Help to buy scheme

I am looking to move out in the next coming years, whether that is just to a flat some where or a full house is not decided yet. After talking to a work colleague who is currently trying to buy a ...
5
votes
1answer
721 views

How to prepare to purchase a house? (Germany)

I'm in my late twenties and want to prepare for my future life. I've no debts and a small amount in savings, but I'm going to need some for my marriage this summer. Now I want to prepare for our ...
6
votes
4answers
1k views

Buying a mortgaged house

If someone owns a house that is not paid off (still mortgaged), can someone buy it by taking another mortgage? What kind of offer would be most sensible? I assume that in this case the current owner ...
1
vote
2answers
93 views

What are my best options if I don't have a lot of credit lines for housing loans?

I've been denied for a pre qualify loan by Bank of America for a house recently due to having insufficient credit lines. I do have a credit score that is good and everything else is fine. I think it ...
25
votes
8answers
5k views

Does this sound like a great idea regarding being a landlord and starting a real estate empire?

I want to build a small empire of my own over time in real estate. I want to pay 20% for a house and rent it out for a small profit (hopefully make around 3 - 5k a year in profit) and then pay it off ...
2
votes
4answers
1k views

Buying a house. I have the cash for the whole thing. Should I still get a mortgage to get the homeowner tax break?

My girlfriend got some family money and is planning to buy a house. She has the money to purchase the house outright with cash. But she is thinking of putting 50% down and get a mortgage for the ...
1
vote
1answer
243 views

I want to invest and save for my house downpayment at the same time

I live in San Diego,CA and as most people know, housing prices are no t very cheap in here. Now, I hold some thoughts when it comes to money: You should always invest in 401k If you have leftover ...