House Buying suggestion please

[Gundepotuu_Gummadi]

On 3/22/2024 at 8:16 PM, CanadianMalodu said:

Tell me about your plans of stay in US. Do you wish to settle in US permanently? 

Yes bro

unless vadu pampisthe tappa

[Gundepotuu_Gummadi]

On 3/22/2024 at 9:23 PM, pakeer_saab said:

I would not buy with that salary

that salary is too low for you to have a happy living with family

if you buy home with that pay, you will neither enjoy home nor be able to provide safe economic environment for your family

you need to be in the range of 120K+ base to even think about buying home even if home price at 400K

interest rates at this time make it useless to think you are saving by buying home, it is always better to rent during high interest times

if you are having pressure from wife, ask her to work and chime in 2K, then go ahead and buy

No pressure from family bro

[Gundepotuu_Gummadi]

On 3/22/2024 at 9:27 PM, Konebhar6 said:

BTW I bought my home when I was getting $110k+10% bonus for $394k. I did 20%down and had an initial interest rate of 4.75. It then came down to 3.25 in a year. Rents were a lot higher in our area ($1500-$2000 for 2-bedroom). I never felt financial burden. I had 1 kid at that time. I am giving these details for comparison sake. However inflation is not as much as it is now. And Home insurance was around $500/yr. 

Thanks bro

110k salary e year lo bro

[Gundepotuu_Gummadi]

12 hours ago, TechSri said:

Pension 4% ante enti. Mee company lo pension istara? 
 

konesey if u want to experience house. 

Ya salary lo 4% add chestharu bro

[Gundepotuu_Gummadi]

9 hours ago, Sonu_Patel said:

chass.. 400k home ki intha discussion pettarendi anna.. 

ma dallas and atlanta nagaralalo.. million petti home koni mingutunnaru.. 

monthly 7k-8k mortgage payment and tesla unte gaani sariga nidrapattadu ikkada janaalaki.. 

andaru rich undaru kada anna

 

[lachi]

On 3/22/2024 at 5:04 PM, Gundepotuu_Gummadi said:

base salary 92k and bonus 12-15%

401-4% & pension 4%

and savings 70k unayi

ma daggara house 400k undi (present rent 2b 2b 900 pay chesthuna)

e salary tho house kone dare cheyochha

pros & cons chepandi exparts.

btw family with 2kids.

 

TIA.

state ekkada? just home price kakaunda, proprttey tax and extra maintainence chusuko. then decide, based on your monthly  savings

[CanadianMalodu]

13 minutes ago, Gundepotuu_Gummadi said:

Yes bro

unless vadu pampisthe tappa

Then buying makes sense. I'd still suggest to hold back buying till you have atleast 25% of down payment in hand. This will ease the effect of interest rates. I wouldn't buy the argument of interest rates going down anytime soon. So don't be in a rush. Also, try to avoid realtor by approaching the sellers directly. Secure yourself a mortgage first and then mail in the boxes in a neighbourhoods of your choice expressing your interest in buying that property stating that you have a mortgage approved. Also don't be bent upon buy a brand new house just because they are new, but consider houses built in 1995-2015 because the materials used in these houses are of better quality due to the low inflation levels then and these properties are not that old. Most likely these neighbourhoods are already develop and it would be easier for you to rent if you're to upgrade in future.  Also some renovation on these houses would make them appear pretty without having to spend so many $

[argadorn]

400 k koneseyi if yiu are desperate tharvatha feel avthav cha 400k ki entha alochinchana ani 

[pakeer_saab]

On 3/23/2024 at 1:03 AM, Peddayana said:

usually people recommend not to go more than 3x your gross salary

your salary (not counting 401k and pension) - 106k , assuming 15% bonus

3x your salary is - 318k

I worked in a similar salary few years ago bro,  I was in same dilemma, whether to buy a condo or not for 250k at that time, changed company and got a home after a good hike, explore that option as well

Fools are plenty to find, it is not a coincidence.

[Konebhar6]

2 hours ago, Gundepotuu_Gummadi said:

Thanks bro

110k salary e year lo bro

Long back. 

[baabaa]

2 hours ago, Gundepotuu_Gummadi said:

35

h11b

no major health issue 

qa lead

35 so i assume your kids are still young. Once they start growing up vala kharchulu koda bane vastayi. Sports/Maths Science Tuition , vacation ki elte 2 additional ppl. So think about all that. 3 times the income antaru so take that into account when buying. You dont want to buy a big house and be sitting in it all the time.

[Aquaman]

buy affordable house , fulfill your house dream…. slowly focus on high paying job….

later after few years focus on buying bigger house as per ur need

[aimodel]

2 hours ago, Gundepotuu_Gummadi said:

andaru rich undaru kada anna

 

baa do not listen to him dallas lo 400- 500k ki kuda unnaye also do not compare with others. 

[aimodel]

22 minutes ago, Aquaman said:

buy affordable house , fulfill your house dream…. slowly focus on high paying job….

later after few years focus on buying bigger house as per ur need

adhi ila cheppu bro encouraging ga untadhi 

[Peddayana]

16 hours ago, pakeer_saab said:

Fools are plenty to find, it is not a coincidence.

what did you want to say?