Questions tagged [housing]
The housing tag has no usage guidance.
3
votes
1answer
98 views
Self-employed net income for affordable housing - valid to take from profit/loss?
I'm trying to understand net income from self-employment, when qualifying for an affordable housing program.
I had always thought that net income was the cash (checks, wires, etc) coming in. However,...
56
votes
10answers
25k views
When is it better to move - before or after a housing bubble bursts?
My husband and I currently own our home and are looking at upgrading to a bigger house in the next year or two. The housing market right now in our area (US East Coast city) is doing really well, and ...
3
votes
2answers
150 views
Trust issues with rental security deposit
I'm in a situation where I will need to rent an apartment without the ability to
see it or meet the landlord/sublessor first. This creates a trust issue that I'm
not sure how to address.
Most ...
4
votes
2answers
345 views
Can I break a lease in response to a nonrenewal notice?
Just got notice that our house is being put up for sale and that we need to be out in 6 months. This is not an early termination, but a notice we will not be able to renew our lease.
Since we'll ...
26
votes
16answers
10k views
How to best invest 90,000 EUR with zero knowledge in investing?
I have 90,000 EUR and difficulty figuring out what to do with it. This money is in a savings account with an interest rate of only 0.05%. Here in Netherlands, I pay around 600 EUR each year on this ...
12
votes
1answer
2k views
What should I be concerned with in buying a house for less than the market value? [duplicate]
I've grown up in my grandparents house my entire life. They lived two miles away my entire life. Sleep overs, dinners, barbecues, etc.
It's been the plan since I was a kid to buy the house when I got ...
114
votes
19answers
28k views
Should I buy my house in cash, or with a mortgage and invest the rest of my money?
I can afford to buy a house (to live in myself) in cash. Most of my investor friends tell me this would be a dumb idea, because I could earn more in interest by buying the house with a mortgage and ...
0
votes
0answers
90 views
Essential Questions to ask when looking for an apartment?
I'm starting to look for an apartment and I'm wondering what essential questions should be asked of the rental company / landlord.
0
votes
1answer
116 views
Should I pay off my mortgage? [duplicate]
I have €77,000 in my bank account. My mortgage has €75,000 left on it (without interest) and a term of 14 years remaining. The current interest rate is 4%, but of course this can change.
Should I pay ...
3
votes
2answers
255 views
Apartments are far more expensive in my area. Should I seek a house on limited income?
So, where I live: the cheapest apartments are within $150/mo of a two story house + basement. There are more modest lots available, and this more modest housing is my goal (maybe). Preliminary ...
5
votes
1answer
258 views
Can landlord/property change unit after approval and payment of fees?
My boyfriend and I are currently in the process of moving across the country, about 650 miles. On September 2nd we visited a property in the area we will be moving to and we really liked it. After ...
6
votes
3answers
722 views
Pay off entire mortgage or put into investments
I am currently living in a house with my family, which I see 5 - 10 more years left, until we move onto to a new home.
I have received a lump of sum of 600k that would be enough to pay off my entire ...
0
votes
1answer
255 views
I want to rent an apartment. The landlord wants me to sign at the court. Is this safe? Or smells like fraud?
I saw an apartment in a listing (I live in Taipei, Taiwan). The websites states that the contract has to be signed at the court.
Is this safe? Or smells like fraud?
16
votes
3answers
4k views
How do I go about asking landlord to prorate when I can't move in yet?
I am renting an apartment. Move in date was August 1st. The apartment is slightly dirty with cobwebs and the walls definitely need to be painted. Landlord says that she will paint very soon but until ...
2
votes
1answer
3k views
What is a non-residential grant deed?
In looking at properties on one of the popular property aggregator sites, I've seen some transactions labeled as being "insured non-residential grant deeds." This is usually accompanied by a sale at a ...
2
votes
1answer
349 views
“Gifting” a house to a family member
I bought a house for myself a few years ago with the profit from an investment, however as I was (still am) under 18 I had my mother buy it in her name. As I am nearing 18, I was wondering how I could ...
1
vote
2answers
114 views
What do I need to consider when refinancing one home to pay the down-payment of another?
I recently (2+ years ago) purchased my first home, and we are financed with an 7:1 ARM loan as well as a HELOC as a second mortgage. I also have excellent (760+) credit. My family is growing and I ...
4
votes
4answers
784 views
How do Inspection Contingencies work if the seller offers to fix the problem?
We made an offer on a house and the seller accepted it. Now we did a Home Inspection of the house, and we found that it had unacceptably high Radon levels. The seller has offered to install a Radon ...
4
votes
3answers
629 views
~$75k in savings - Pay off house before new home?
Thought I would give a summary of my current financial situation:
Home owner
No debt outside of mortgage
Annual income of $120k
Amount owed on house is at ~$95k
Expected rent the current house for ...
1
vote
2answers
112 views
Selling a leasehold flat
What happens when you want to move out of a leasehold flat - can you still sell it and move your mortgage to another property?
4
votes
3answers
1k views
Is housing provided by a university as employer reported on 1040?
I work as a Resident Assistant for my University. According to Moss-Adam's article, the difference of the lesser of market value of the property rent at YE or 5% of the total value of the house/...
3
votes
1answer
88 views
High housing allowance and good for tax return?
I interned last summer at a big tech company in the US and I just got my W-2 form. The company paid for my housing and added ~24k for renting an apartment for 3 months to my gross pay.
First, I ...
5
votes
3answers
263 views
Is Rate Hike a good thing or a bad thing for homebuyer?
I am a bit confused with co-relation between rate hike being a good or a bad thing for home buyer. I have some notions and please correct me on each if I am wrong:
Home Prices and Interest rates are ...
1
vote
4answers
2k views
Can one get a house mortgage without buying a house?
As of this writing, mortgage rates are low, but are expected to rise. I am not ready to commit to a house that ties me down to a location but would prefer to take advantage of the low mortgage rates. ...
1
vote
0answers
151 views
Can a sponsored spouse buy a house in Canada while her permanent resident application is still being processed?
I will get married with my Canadian partner, and plan to buy a house for us in Canada. However, I am currently not a permanent resident of Canada yet. I will apply for being a permanent resident of ...
4
votes
2answers
317 views
Can housing prices rise faster than incomes in the long run? [closed]
I am curious in a macro economic sense, if housing prices really can continue to rise past 2006 levels (thinking US here..) at a rate much faster than income is rising?
3
votes
2answers
1k views
Is it normal to pay two application fees for an apartments as a married couple?
My wife and I are looking around at apartments, and the one we both ended up liking wants us to each pay an application fee of $95.
I will be the only one on the lease, and solely financially ...
2
votes
6answers
1k views
Pre-pay mortgage in full - do you have to pay off the projected interest as well?
How does paying off a mortgage early work? Example:
I have a 30 year fixed rate mortgage of 3.5%, the amount borrowed is $300,000. I have just inherited $300,000. I am in the first year of the ...
2
votes
2answers
286 views
Best return on investment for new home purchase
My fiancé and I are considering buying a house. We're in our late 20s and plan on moving from our low rent apartment in a relatively upscale area to the house we'll potentially buy.
Now we have two ...
3
votes
6answers
468 views
What are the possible benefits and risks of buying an old house in a far away area?
I live in Germany with very little savings, around 20k. I have seen some run-down old houses in far away areas offered to be sold. My gut is telling me that it's a good idea to own a house as property,...
18
votes
10answers
11k views
First job: Renting vs get my parents to buy me a house
Finished my studies and got my first job starting in Nov.
I'll have to move to a city far from where I currently live. I'll get paid around 17.5K/yr (1.4k/month net after taxes) and have to find a ...
15
votes
4answers
4k views
House Purchase: Pay student loans or put 20% down?
My fiance and I currently have the opportunity to buy our first house for 200k due to a large 19k bonus that will be coming to me from my employer.
We're considering two uses for the additional money ...
3
votes
1answer
199 views
What is the difference between section 8 and section 515 housing in the U.S.?
I have been looking for an apartment. I found a place that is inexpensive, and I did more research and discovered that it is section 515 housing.
Apparently this is among the types of housing people ...
2
votes
2answers
55 views
Details behind Geographic Jurisdictions for IRS Form 2555
For the Housing Exclusion and/or Deduction, Line 29b limit on the maximum deduction - How can one establish a level of confidence in the geographic borders drawn up by the IRS?
https://www.irs.gov/...
2
votes
2answers
136 views
US: House bought in Feb '16 and tax returns for '15
My wife and I bought our first house in February, 2016. We used a conventional loan to acquire the property.
Now (March, 2016) I am preparing a tax return statement for 2015 year. I haven't made any ...
2
votes
2answers
445 views
What should I do financially if I suspect a housing bubble is arising and might soon burst?
Background
In my country (Norway, though the same principles apply everywhere), there's a huge discrepancy between loans in terms of how much equity you need to put up when getting a housing mortgage....
0
votes
1answer
121 views
How can I find an inexpensive studio or 1bdrm apartment in a safe, clean area?
I live in the Greater Seattle area and will be moving this summer. I am trying to cut expenses by moving to an inexpensive area but each time that I've found an inexpensive area and check Google ...
4
votes
3answers
2k views
Buying a property for 3 years and then selling
I have recently taken on a fixed-term contract for three years, which is giving me a salary significantly higher than I am used to. After the three years, however, it is very likely that my salary ...
2
votes
2answers
451 views
Paying off a mortgage early
I am thinking about buying a property with a mortgage in the UK, living in it for 3 years, and then selling it. This is because at that point, I will probably be moving out of the city I am currently ...
1
vote
2answers
961 views
Should I take out a bigger mortgage, or pay a greater cash deposit?
Let's say I want to buy a house worth £400k. I can get a mortgage up to £300k, and I have £150k cash sitting in the bank. Which would be my best option:
1) Take out the maximum mortgage of £300k and ...
3
votes
3answers
119 views
Budget for an Internship in NYC?
I will move in NYC in the next months as an Intern for 6 months. I will earn 1800$/month (I assume before taxes), work in Jersey City and want to live in Manhattan or Brooklyn with roommates.
I have ...
0
votes
2answers
360 views
minimize personal property coverage on homeowners insurance
This month, my homeowners insurance is due for renewal. I noticed that the personal property coverage is beyond $100k, which exceeds my needs by at least two orders of magnitude. Honestly, my personal ...
7
votes
1answer
1k views
Turning 30 and making the right decision with my savings and purchasing home
I just turned 30, I have a job which paying me $100k in Los Angeles, I have zero debt, excellent credit score and $65k in my bank account. I am single and I am paying more than 30% in income tax (...
4
votes
5answers
928 views
How come the government can value a home more than was paid for the house?
If you buy a house at a foreclosure for $100,000... how is the government allowed to value that house at $180,000 for tax reasons.
How is what the house cost not exactly the value of it.
0
votes
1answer
95 views
Submitting my property for section 8
I have a tenant who wasn't section 8 qualified when they started renting from me. The main breadwinner however has just passed away and the remaining family members (spouse and kids) now qualify for ...
3
votes
3answers
383 views
Effective returns on investment in housing vs other financial instruments
In One Up on Wall Street, Peter Lynch recommends housing as the best first investment:
Because of leverage, if you buy a $100,000 house for 20 percent down
and the value of the house increases by ...
4
votes
3answers
2k views
Lost job a week before closing with a mortgage. Options?
I unexpectedly lost my job a week away from closing on a condominium with a mortgage.
I wasn't worried… until I realized that the mortgage is conditional on my creditworthiness remaining the same. ...
3
votes
1answer
101 views
Latest China devaluation (24/08/2015) and the affect on house prices in UK
Are there any strong bases for worry that house prices will fall considering the latest FTSE 100 issues regarding China... and todays (25/08/2015) slight rise.
This is regarding house prices in the ...
0
votes
1answer
197 views
How to fund sabbatical to prepare house for sale?
I own a large home in a recently gentrified and revitalized, very, VERY desirable urban neighborhood in the U.S. I purchased it for $400K 8 years ago, while the neighborhood and the house were not in ...
1
vote
2answers
270 views
How could I find someone to find a room for me to live in? (For a fee, of course.)
I am a young adult looking for a room near the college I'll be attending. I am not experienced or good at looking for housing, and I don't really have the time to shop around because I work full time. ...
