Asking for a friend...House buying advice..

[phatposts]

Basically it is a human capital investment. In this case lifestyle decision. If they can afford 270 @ 7%  - and they think they will be happy nothing wrong in doing it. 

Aaa old house OK OK neighborhood aithe - fantastic opportunity to dump that thing @ 800-850 and move on

[Hitman]

18 minutes ago, Bulls_Rose said:

Which facing people prefer? I notice noth facing ilu sold out in every single new community. 

DONT care about vastu. But lighting important in that case which direction better especially in midwest more than 5 months gloomy days 

So depressing lekunda light vache facing edi better? 

Any suggestions would be appreciated 

Personally i would prefer NORTH.

EAST / WEST ayite summer lo sun direct gaa padtadi .. cant even go outside unless you have Sun room, covered patio, pergola etc..

[nag]

1 hour ago, Hitman said:

He owns a property purchased in 2021 - 460 ( at 2.5% APR - only 150K debt remaining) - currently can be sold at 730K . - Location just OK

Now looking for a move to a better community..

listed at 850 k (may be 820 ki vastadi) ..if he gets 550 Net (after seller expenses, Pay off remaining debt) from sale.. he will still end up 270K with 7% APR ..

is this wise to take this step now? Or wait further?

@Sonu_Patel

 

1 hour ago, Hitman said:

😀 Yes almost decided.. but his worry is there has been already few homes listed in his existing community not sold since 60+ days... worried if he gets what he is expecting for the old home , since it would be middle of 2025 where everyone expecting apocalypse in the real estate market... 

Instead of flipping the house..ask him to   sell  at the desired price.. and if he is successful then wait for the real estate crash/downside then buy the desired property.

 

property prices and interest rate hikes inka bhaariga peragavu

[yemdoing]

1 hour ago, Hitman said:

He owns a property purchased in 2021 - 460 ( at 2.5% APR - only 150K debt remaining) - currently can be sold at 730K . - Location just OK

Now looking for a move to a better community..

listed at 850 k (may be 820 ki vastadi) ..if he gets 550 Net (after seller expenses, Pay off remaining debt) from sale.. he will still end up 270K with 7% APR ..

is this wise to take this step now? Or wait further?

@Sonu_Patel

it's a personal question. lot of details are needed.

• how much % would it be from their paycheck ? more 40% ? then think 10 times. more than 50% then no. DO not hope for rates to go down in next few years. 
• why not rent old home and but a new one ? and see if makes sense financially ? 
• buying and selling means they lose 6% of 730 is 44K.  and 3% if 840K is 25K. so totally 80K bokka ( adjust as per your state broker costs). add moving cost, new home new furniture ( 10K to 50K), 
• house warming ( 10K)

 

[Hitman]

7 minutes ago, yemdoing said:

it's a personal question. lot of details are needed.

• how much % would it be from their paycheck ? more 40% ? then think 10 times. more than 50% then no. DO not hope for rates to go down in next few years. 
• why not rent old home and but a new one ? and see if makes sense financially ? Renting is not allowed.. also do not want to become landlord. 
• buying and selling means they lose 6% of 730 is 44K.  and 3% if 840K is 25K. so totally 80K bokka ( adjust as per your state broker costs). add moving cost, new home new furniture ( 10K to 50K), Commission on sale can be negotiated to 3% Total.
• house warming ( 10K) .... LOL... South Florida lo aa avasaram ledu... inkaa start kaaledu aa madness. also here all are 25 + old homes, not suitable for YT house warming videos... 

 

 

[fasak_vachadu]

1 hour ago, Hitman said:

He owns a property purchased in 2021 - 460 ( at 2.5% APR - only 150K debt remaining) - currently can be sold at 730K . - Location just OK

Now looking for a move to a better community..

listed at 850 k (may be 820 ki vastadi) ..if he gets 550 Net (after seller expenses, Pay off remaining debt) from sale.. he will still end up 270K with 7% APR ..

is this wise to take this step now? Or wait further?

@Sonu_Patel

Friend needs okkada ku send Cheyu and adugu manu kada nuvu e duku ayina Meeru bedroom lo matladukunnavi maku enduku anna 

Idi nee story ahe kada pellam Tori her ki town home ammi 10 gi individual house planning??

[Sonu_Patel]

2 hours ago, Hitman said:

He owns a property purchased in 2021 - 460 ( at 2.5% APR - only 150K debt remaining) - currently can be sold at 730K . - Location just OK

Now looking for a move to a better community..

listed at 850 k (may be 820 ki vastadi) ..if he gets 550 Net (after seller expenses, Pay off remaining debt) from sale.. he will still end up 270K with 7% APR ..

is this wise to take this step now? Or wait further?

@Sonu_Patel

Good time if he can defer his equity towards the new home.

Important thing entatey, he need to manage the cut over. 

He need sell / hold and make purchase to upgrade to new home. ah madhyalo he may end up doing double payments if there is any delays with selling the old home. 

If he can manage financially to take care of both payments or plan ahead to list in market before have move into the new home and arrange some temporary accommodation. 

oka friend gadu ilaney chesi... It took good 9 months to sell old home and ended up paying mortgage payments for both homes.

[kakatiya]

Interest rates taggavu man. Cash vuntene konamanu and that too new home with better features and options

[DallasVuncles]

2 hours ago, Hitman said:

He owns a property purchased in 2021 - 460 ( at 2.5% APR - only 150K debt remaining) - currently can be sold at 730K . - Location just OK

Now looking for a move to a better community..

listed at 850 k (may be 820 ki vastadi) ..if he gets 550 Net (after seller expenses, Pay off remaining debt) from sale.. he will still end up 270K with 7% APR ..

is this wise to take this step now? Or wait further?

@Sonu_Patel

Your friend frock you ra ? Why you know all his financial details ra @lunchvodka ani @RPG_Reloaded asking