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2 answers
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Tax question regarding a house

I am about to be given (gifted?) One third of my parents home, long story. I'm guessing that will be an approximate market value to me of 125k, house is worth just under 400k. So, will I owe tax on ...
Mark's user avatar
  • 1
13 votes
2 answers
5k views

Can you self-direct a 401k to buy you a house?

So, this question came about because I was playing thought games. It is my understanding that a 401k isn't really an account type, but a thing with the tax code. Most employer sponsored 401k accounts ...
Elros's user avatar
  • 303
8 votes
6 answers
7k views

Is investing in S&P 500 a wise choice if you plan to purchase a house in 10-15 years?

My total compensation is $168k/year ($285k gross) and my goal is to purchase a house in the range of $1M to $2M. I plan to invest my savings in the S&P500 for about 10-15 years, hopefully, to make ...
N N's user avatar
  • 111
0 votes
1 answer
107 views

Do I have to pay the stamp duty additional charge when purchasing a house abroad?

I am in the process of purchasing a house in the UK. I own another house in Italy. I work and live in the UK. Do I have to pay the stamp duty additional charge? If I do so, do I qualify for stamp duty ...
Blue Moon's user avatar
  • 227
0 votes
1 answer
170 views

Should I Buy a Cheap Apartment in Manhattan? [closed]

I am a recent college graduate and have been offered a job in Manhattan with a salary of $160,000. I am planning on living in the city for at least the next 10 years, and I am trying to decide whether ...
Kenny Fischer's user avatar
31 votes
4 answers
13k views

We don't own the land so is our house nearly worthless?

We live in Japan in an urban environment- lots of big apartment building around. The house is post-war house that extended and has an antiquated arrangement whereby a rich person owns the land and we ...
user2617804's user avatar
2 votes
1 answer
240 views

What is the formula for calculating the max value of a home purchase, including monthly property taxes

How can I adjust the present value formula (PV) to account for also having to pay monthly property taxes? If I know how much monthly payment I can afford (PMT), I can use Excel's PV formula to ...
Brandon's user avatar
  • 121
3 votes
2 answers
2k views

Strategy to Negotiate a House Purchase in an Uncertain Economy [closed]

My wife and I are interested in buying a house here in our town (near Chicago), which is usually a strong real estate market. We have a decent income and good credit. We are living in a two-unit ...
Mike S's user avatar
  • 149
1 vote
1 answer
203 views

What to do when the seller of a property does not honor a memorandum of sale?

I put an offer on a property which got accepted, and the memorandum of sales (MOS) has been created, but the seller still chose to go with another buyer. What is possible in this situation? Does the ...
John Doe's user avatar
1 vote
1 answer
111 views

What account to draw from for a first-time home buyer? (Canada)

Assuming I need 35K for a downpayment and I have 50K in an RRSP 50k in a TFSA and 20k in a non-registered account— which account is it best to draw from? My assumption is that cleaning out the non-...
Dugan 's user avatar
  • 2,582
1 vote
4 answers
451 views

If a home has increased in value, why would an essential component of the home depreciate?

My parents bought a new home a few decades ago, and since then the value of the home has increased significantly. They just told me there is some damage to the roof (which is the original roof) and ...
7529's user avatar
  • 3,753
5 votes
3 answers
6k views

Do you have to take the exact loan amount your are pre approved for?

If you get preapproved for say, a 100k house loan, but then find a house for 110k, are you contractually bound to pay at most a 10k down payment? or are you able to still pay a 20% down payment of 20k ...
brubsby's user avatar
  • 161
0 votes
3 answers
229 views

Why not pay down payments on multiple houses and hand them to rental management companies?

As I understand it, rental management companies will handle finding and to some extent communicating with tenants, and will perform maintenance and repairs on the house. In the city and surrounding ...
Gramatik's user avatar
  • 427
7 votes
1 answer
2k views

How much mortgage is too much?

I'm buying a house and decided against renting out a place because I feel like it's almost a waste of money, and, most importantly, the rent of a small 40 m^2 apartment in the middle of nowhere is the ...
Yeeter's user avatar
  • 73
22 votes
1 answer
4k views

Wired to the wrong account

Recently, I sold my house that I've been living in for over 20 years. It was almost all paid off, so I got a huge amount of cash in my account. (About 5x my yearly salary). I bought a new house, and ...
Jeffer's user avatar
  • 221
4 votes
6 answers
3k views

Options for building equity while living with parent?

My wife and I recently moved to an expensive area of the US for her job, the school district and other reasons. We are currently living with my wife's mother, in her house. After a recent divorce she ...
Raketenolli's user avatar
2 votes
5 answers
727 views

Condo HOA/maintainence fee versus upkeeping a house

How does the maintenance fee of a condo compare to up keeping a house where there is no maintenance fee. Does upkeeping a small/medium sized house cost less than the maintenance fee of buying a condo?...
Lightsout's user avatar
  • 2,041
-2 votes
1 answer
127 views

One joint owner moves out [closed]

One joint owner moves out and does not contribute to the support of the property for 11 years. When the house is sold, what share of the proceeds does the moved out joint owner get?
Douglas Hishon's user avatar
0 votes
1 answer
106 views

Which is more expensive, buying house or condo? [closed]

Which is more expensive, buying house or condo? House seems like but my lover told me that I have to pay tons of bills So I considered changing to condo. Is condo more better than house or not?
Coder2195's user avatar
  • 101
5 votes
1 answer
4k views

Can I buy an overseas property using the bonus from a Lifetime ISA?

I have a Lifetime ISA but am looking to move overseas in the next few months. I am yet to buy any property and thus my first property purchase will most likely be overseas, can I use my Lifetime ISA ...
Jordan Belfort's user avatar
0 votes
5 answers
528 views

Why would a bank not "buy a house for me" if they own the house until I've paid it anyway? [duplicate]

I find myself in a situation where I'm trying to buy a house, but don't have the money readily available. And my bank won't give me a loan, in spite of not having any problems with loans/money in the ...
J S's user avatar
  • 1
0 votes
0 answers
64 views

How to sell property back to seller after 30 days

I purchased a lot with a condemned house on it from a friend for $27,000. I put down $1000 on it. They are financing for me. I no longer want the property and they are willing to reverse the sale or ...
Lenora S's user avatar
39 votes
2 answers
12k views

How does paying off the mortgage work if I demolish a home and rebuild another home on the property?

I own a single family home in NYC, Queens. I have a mortgage on that property. My Zone permits 3 Family house. I would like to demolish the single family home and build a 3 unit property. How does it ...
user1459497's user avatar
3 votes
4 answers
294 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 ...
chill_vibes's user avatar
3 votes
2 answers
1k views

How to get an offer on a house accepted?

I really like a house and I am prepared to put in an offer at the asking price. I think this is a good price for this house considering the current value of houses in this area and from my personal ...
Jsk's user avatar
  • 1,668
20 votes
9 answers
9k views

Should I buy a nicer house in a worse area for less than I budgeted?

I am a single male in my mid twenties, based in the UK and looking to buy my first home. I see this home as a 'stepping stone' home and intend to live in it for 5-15 years until I get a partner and ...
Jsk's user avatar
  • 1,668
3 votes
3 answers
610 views

50k into 24 month 1.15% p.a. term deposit, did I make a mistake?

Context: I'm 23 y/o, live with family for obvious financial reasons. While I do pay for all the pet care/internet and some communal food/fuel I obviously am still mooching a lot from my parents. The ...
Jesse's user avatar
  • 216
3 votes
2 answers
389 views

Feasibility of buying first house at 23 when I may leave the country in a few years to work/travel (UK)

I am 22 years old and in my final year of study towards an Engineering degree, with a graduate job secured for next year with a starting salary of £25,000. I currently have ~£47,000 in savings, ...
James's user avatar
  • 71
4 votes
1 answer
1k views

Lifetime ISA with small stake in an overseas home

I have been using a Lifetime ISA to save towards a deposit on the purchase of my first home. Recently, I inherited a 12.5% share of the house in Germany in which my father currently lives. The rules ...
Ubiquitous's user avatar
20 votes
9 answers
7k 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, ...
algiogia's user avatar
  • 822
0 votes
2 answers
2k 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 ...
CrossRoads's user avatar
2 votes
0 answers
139 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 ...
nonopolarity's user avatar
  • 1,593
1 vote
3 answers
220 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 ...
Amos Joshua's user avatar
1 vote
2 answers
292 views

Removing ex wife and adding new co-owner to mortgage [closed]

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 ...
trent's user avatar
  • 11
0 votes
2 answers
187 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 ...
c00der's user avatar
  • 111
1 vote
3 answers
421 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 ...
duckFeet's user avatar
0 votes
1 answer
93 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 ...
chip's user avatar
  • 103
10 votes
2 answers
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 ...
user83725's user avatar
  • 101
0 votes
3 answers
360 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 ...
Tina J's user avatar
  • 435
3 votes
4 answers
757 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'...
Fabio says Reinstate Monica's user avatar
0 votes
1 answer
448 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 ...
edoreld's user avatar
  • 128
1 vote
1 answer
115 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 ...
krb686's user avatar
  • 501
2 votes
1 answer
225 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 ...
Tracy's user avatar
  • 21
2 votes
1 answer
173 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 ...
Eugene Kaurov's user avatar
2 votes
0 answers
172 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 ...
minou's user avatar
  • 7,536
1 vote
3 answers
451 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. ...
Porixify's user avatar
  • 387
5 votes
1 answer
320 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 ...
Blair's user avatar
  • 151
3 votes
2 answers
295 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 ...
Noble-Surfer's user avatar
3 votes
1 answer
215 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 ...
ajbrun's user avatar
  • 133
4 votes
5 answers
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 ...
Jon's user avatar
  • 43