Home Owners Come Here

[Vaampire]

34 minutes ago, Quickgun_murugan said:

True..

Mortgage Kanna rent atleast 500 per month difference untey go for home. Or else renting is better to save money and flexibility kuda untadi etaina velli ravalanna. House aithey you have to think 10 times before you plan on leaving for more than 2 weeks. 

Adi kakunda any small issue you need to fix goes from your savings to the house. Maintenance anedi pedda headache unless you enjoy those as chores or hobby.

Since u bought up the topic of finances. Mortgage ki kattey interest antha non taxable. So u get back some money in tax returns.

i can talk about bay area. House price appreciates a lot. Folks who bought houses last year are enjoying 10-15% increase in house prices. 2012-13 lo konnavallu 75-125% increase

[AndhraneedSCS]

37 minutes ago, Quickgun_murugan said:

True..

Mortgage Kanna rent atleast 500 per month difference untey go for home. Or else renting is better to save money and flexibility kuda untadi etaina velli ravalanna. House aithey you have to think 10 times before you plan on leaving for more than 2 weeks. 

Adi kakunda any small issue you need to fix goes from your savings to the house. Maintenance anedi pedda headache unless you enjoy those as chores or hobby.

Not sure what you mean by maintenance. If you live in a house built over the past 10 years, then you should not have those many issues. May be you will spend some $500 or so per year and it may be negligible when compared to big picture. 

 

if you live in your house: you get real estate appreciation and your equity adds 

If you live for rent: you will pay more and more rent each year. 

[DetroitPistons]

54 minutes ago, dewarist said:

Off topic..top 5% avg is about $215K annually..I'm surprised that they are living paycheck to paycheck. 

Bhayya.. these folks make 150k

[Jalsarayudu9]

Let me make the decision easier for you. If you have all the below points, then start thinking about whether to buy or not

1. 3x your salary is how much mortgage you can afford with no other debts. So make sure there are no other debts currently
2. Do you have 20% cash downpayment right now
3. 6 months emergency fund

Avi unteney proceed avvu, if not its not even worth to think about it. 

[dewarist]

1 hour ago, DetroitPistons said:

Bhayya.. these folks make 150k

Still doesn't make sense. $150K and still living paycheck to paycheck.

[DetroitPistons]

40 minutes ago, dewarist said:

Still doesn't make sense. $150K and still living paycheck to paycheck.

My friend stated after he moved from Apartment to house... including mortage, property taxes, monthly unexpected expenses (maintenance), insurance, increased in Electricity, water and Gas Bills, all kinds of details he gave me and I was shocked and speechless!

 

Hence I asked about it to hear from the experts..

[Kalam_Youtheman]

5 minutes ago, DetroitPistons said:

My friend stated after he moved from Apartment to house... including mortage, property taxes, monthly unexpected expenses (maintenance), insurance, increased in Electricity, water and Gas Bills, all kinds of details he gave me and I was shocked and speechless!

 

Hence I asked about it to hear from the experts..

mee frnd entha old house konnnaduu.. 1970 0r 80 ?  apartment nunchii single family ki moved ah ?   

chaala factors untaayee vayyaa... end of the day.. new home appreciates more and u get returns down the line..

[Lukewalker]

Bought a house 5 years ago. Sold it and pocketed $70k. 

Never felt owning is bad as I am handy enough. BTW it's a 60 year old house. Will rent for a while then will buy again when market is down. 

Don't buy now, housing prices are all time high. 

Make sure you have atleast few good companies in an hour commute. 

Buy in good school district. You might not need schools if you don't have kids but when you want to sell, it's relatively easy. 

Don't have to put 20% down. PMI is hardly $200 per month for a $400k loan. You can refinance in an year or two and get rid of it. You don't need to lock down 20% of your cash this way. 

Utilities will be a little more comparatively. But if you are thinking you might not afford few hundred more than renting, don't even think about buying. 

If you don't want to do regular maintenance like mowing, mulching, snow removal, minor repairs go for a condo or town home. 

Good luck!!!

[tables]

If you want to buy Manchi school district lo condo teesuko and that’s it.

ee pykana  Fix cheskunta, stove , dishwasher repair cheskuntu, godalaku sunnam eskuntu em untaam? Use that time for something more productive.

india lo at least pelli varku aina kids parents toh untaru, ikkada 18 avagane 10gestaru, aa tarvata manamu, pellam eegalu tolkuntu undali antha pedda intlo 

[tables]

Condos are easy to rent out than a single family house.

 

[Michaelbarbosa]

5 hours ago, AndhraneedSCS said:

Not sure what you mean by maintenance. If you live in a house built over the past 10 years, then you should not have those many issues. May be you will spend some $500 or so per year and it may be negligible when compared to big picture. 

 

if you live in your house: you get real estate appreciation and your equity adds 

If you live for rent: you will pay more and more rent each year. 

So you don’t know what actually maintenance in home is. 

Fertilizing lawn in summers, grass cutting( u could say do it yourself ) but ain’t easy.

During winter winterization of lawn sprinklers ( guy from outside who installed sprinklers has to do it) 

500 or 1000 is very less for those things. 

Getting plants for lawn every season ( u could do perennials) 

Man buying home is not as easy as we think 💭 

installing deck, getting patio, finishing basement 

what not 

on top of it heavy electricity bills during summers, gas bills during winters. 

[k2s]

6 minutes ago, Michaelbarbosa said:

So you don’t know what actually maintenance in home is. 

Fertilizing lawn in summers, grass cutting( u could say do it yourself ) but ain’t easy.

During winter winterization of lawn sprinklers ( guy from outside who installed sprinklers has to do it) 

500 or 1000 is very less for those things. 

Getting plants for lawn every season ( u could do perennials) 

Man buying home is not as easy as we think 💭 

installing deck, getting patio, finishing basement 

what not 

on top of it heavy electricity bills during summers, gas bills during winters. 

For electricity - install solar panels on roof

for lawn maintenence - install turf(artificial grass) - no maintenence, zero water usuage. Etc

[Lukewalker]

47 minutes ago, Michaelbarbosa said:

So you don’t know what actually maintenance in home is. 

Fertilizing lawn in summers, grass cutting( u could say do it yourself ) but ain’t easy.

During winter winterization of lawn sprinklers ( guy from outside who installed sprinklers has to do it) 

500 or 1000 is very less for those things. 

Getting plants for lawn every season ( u could do perennials) 

Man buying home is not as easy as we think 💭 

installing deck, getting patio, finishing basement 

what not 

on top of it heavy electricity bills during summers, gas bills during winters. 

Brother, what all you said is usual maintenance that everyone does like daily chores. 

Mowing takes hardly an hour in a week. Fertilising, weed whacking, trimming etc takes another hour. 

Installing deck, patio or finishing basement is not maintenance. It's more like updating your house. If you buy a house without finished basement then you are willing to spend dollars later ane kadha. 

If you are getting heavy electric bills in summer and gas bills in winter, your house is not properly insulated. I hardly switch on heat during fall and November. My home was properly insulated and it stays hot, note that i live in North east. 

I personally enjoy doing all these maintenance as i feel proud doing all these on my own. For some it might be headache. Opinions vary, end of the day you have to do your research before buying one of the most expensive asset in your life. 

[DetroitPistons]

Looks like Unfortunare thing is that I have seen folks buying old houses which need lot of maintenance.. I wasn’t talking about chores and stuff!!

[Michaelbarbosa]

6 minutes ago, Lukewalker said:

Brother, what all you said is usual maintenance that everyone does like daily chores. 

Mowing takes hardly an hour in a week. Fertilising, weed whacking, trimming etc takes another hour. 

Installing deck, patio or finishing basement is not maintenance. It's more like updating your house. If you buy a house without finished basement then you are willing to spend dollars later ane kadha. 

If you are getting heavy electric bills in summer and gas bills in winter, your house is not properly insulated. I hardly switch on heat during fall and November. My home was properly insulated and it stays hot, note that i live in North east. 

I personally enjoy doing all these maintenance as i feel proud doing all these on my own. For some it might be headache. Opinions vary, end of the day you have to do your research before buying one of the most expensive asset in your life. 

I was just pointing out him saying that it rather easy. 

Since you enjoying that stuff but for others it’s aint easy ppl who would like to spend but cannot put effort makes a lot of difference.