Questions tagged [housing]

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2
votes
2answers
157 views

Roof warranty 5 year versus 25 year- Would it allow me to get more money back in a house I plan to sell?

I inherited a 1960 house worth over 200k in tax assessment. It's has some issues though....foundation and internal renovation to become updated in styles. I bought full coverage insurance for it. A ...
0
votes
1answer
129 views

How to price target when selling a home?

Under the Fair Housing Act, it is prohibited to "impose different sales prices or rental charges for the sale or rental of a dwelling." But in the residential market, does price targeting actually ...
2
votes
0answers
49 views

Do I need to report rental income on my apartment? [duplicate]

Say I am renting an apartment for ~$1000 a month and I have a friend that needs a place to say. I let him stay on my couch and he pays me ~$999 a month. So I'm at a loss of $1 each month. Do I need ...
3
votes
1answer
297 views

Income Tax rebate on Housing Loan on rental property and HRA rebate?

I had purchased an under construction Flat with loan of 30 lacs in Indirapuram, Ghaziabad in Year 2011 for which I got possession in June,2015. I am staying on rent in East Delhi and claiming HRA ...
121
votes
19answers
30k 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 ...
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
2answers
185 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 ...
1
vote
2answers
173 views

Is it a wise decision to buy a home in the current market in a coastal market where prices are at a premium [closed]

I am looking at the possibility of purchasing a property in the San Diego costal area, however I wanted to get some feedback from people that know the economic outlook better than I would. Is it a ...
1
vote
0answers
62 views

HUD section 8 benefits — community service exemptions

Regarding the HUD (Housing and Urban Development) policy for Area Housing Assistance (general page, specific definitions, and exempt status mainly what the question is about, definition for "work ...
4
votes
4answers
370 views

Is buying an apartment a worse choice than renting, currently (2019) in Australia?

For one reason or another, an apartment is considered a bad investment in Australian cities. This is because the demand here isn't huge yet (people in general would rather live outer-city in houses/...
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 ...
2
votes
1answer
5k 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 ...
0
votes
0answers
14 views

How is capital gain calculated in India for a house when it is constructed on a piece of land bought few years earlier?

I had bought a piece of land in 2003 and constructed the house in 2005. I am planning to sell now; how is capital gains calculate for this?
5
votes
4answers
688 views

Why is the “buy vs rent” debate framed in terms of “buy a house vs. rent an apartment”?

Most coverage of the "buy vs rent" debate in North American popular financial media (see here for an example) frames the debate as a simple dichotomy: either renting an apartment (i.e. renting a unit ...
5
votes
3answers
274 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 ...
3
votes
1answer
214 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,...
2
votes
3answers
1k views

Sell or keep rental Property?

My father has an old single-family home he purchased at the height of the real-estate bubble. He lived in the property for about 5-years, refinanced to 3.25%, purchased another brand new home designed ...
57
votes
10answers
26k 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 ...
4
votes
3answers
4k 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. ...
1
vote
1answer
550 views

What needs to be considered when taking over a 2Br alone and living with a roommate

My housing experience has been me and my roommates signing leases with our landlord together. I am going to move soon, and am interested in a 2br apartment with $850 rent. The landlord of that ...
1
vote
2answers
119 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?
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 ...
4
votes
2answers
380 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 ...
3
votes
6answers
609 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,...
2
votes
2answers
187 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 ...
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 ...
0
votes
1answer
127 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
286 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 ...
19
votes
2answers
8k views

How do Islamic Banking give loans for housing purposes?

Islamic banks do not give loans they invest in financial activities of their clients. Am I correct? If yes, then how can they provide loans for housings? Home loans have nothing to do with business. ...
5
votes
1answer
291 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
756 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
265 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?
3
votes
6answers
2k 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 ...
1
vote
4answers
3k 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. ...
2
votes
1answer
393 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 ...
3
votes
4answers
1k 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 ...
1
vote
2answers
147 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 ...
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 ...
4
votes
3answers
770 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 ...
4
votes
1answer
368 views

Next option(s) after house is not selling on market?

Let us say I have a house which is pretty old and is not in the best neighborhood. I put in on the market, and for one reason or another, even after dropping the price substantially I cannot get it to ...
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/...
2
votes
1answer
92 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 ...
3
votes
3answers
393 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 ...
7
votes
3answers
996 views

What are some strategies to determine how much I should spend on rent when I have a lot of savings?

I'm fortunate enough to have saved a lot of money over the years, and have nothing specific that I'm saving for (it will be at least a few years before I start a family). This is great of course, but ...
1
vote
0answers
235 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 ...
1
vote
2answers
65 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/...
4
votes
2answers
336 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
2k 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
2answers
340 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 ...
4
votes
5answers
974 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.