Renting vs buying home in Amrica

[pandu123b]

10 minutes ago, Sarvapindy said:

Property tax ekadina untadi ga uncle..tx lo ekkuvana?

tx chala ekkuva anna

[Sarvapindy]

1 minute ago, Jalsa456 said:

That's a misconception if u go with homestead exemption prices can't go more than certain percent every year and show comparables and if u avoid mud and pid areas taxes are not that bad.. 

malli identi 

[Sonu_Patel]

25 minutes ago, Jalsa456 said:

If you don't want spend 800k ..start with basic starter home 1700 to 200sft for 400 to 500k and then as years go through lot of ppl flip small house into big or rent small one and go for big one..this is most common route desis take..

e idea baundi

[Jalsa456]

Just now, Sarvapindy said:

malli identi 

Collin county lot of new construction areas have either mud tax or pid tax that add almost 1% of property tax if u avoid those subdivisions and go with 2018 or 2019 or 2020 built home which previous homeowner already applied homestead exception taxes will not be more than 14 or 15k even on 700k ..just have to shop homes smart..

[Pandubabu]

7 minutes ago, Jalsa456 said:

That's a misconception if u go with homestead exemption prices can't go more than certain percent every year and show comparables and if u avoid mud and pid areas taxes are not that bad.. 

I am only highlighting the property tax variance between Texas and other states .. not saying they are going up every year. 

[no01]

31 minutes ago, Jalsa456 said:

If you don't want spend 800k ..start with basic starter home 1700 to 200sft for 400 to 500k and then as years go through lot of ppl flip small house into big or rent small one and go for big one..this is most common route desis take..

this plan works out if ur bachelor/newly married without kids.....if already 1 kid or more unte, small spaces wont help at all....few yrs tharuvtha big house enduku inka? when kids out grow 10+yrs ala.....they hardly use extra space. All they need is a bedroom and they spend most of the time there anthe.

small kids unnappude big house konatam better.....though cleaning wise (toys, food particles etc) is a big mess, but they will have lot of space in the house to run, walk etc. And frequent b'day parties avthai intlone, so lots of guests and lots of other small kids in the house.

This is my take on big vs small house

[Jalsa456]

1 minute ago, Pandubabu said:

I am only highlighting the property tax variance between Texas and other states .. not saying they are going up every year. 

Eevn I tried to brief on why ppl have misconception 30k property tax in texas..while there may be communities that pay but lot of ppl don't know there are lot of newer homes in good school district pay only 14 or 15k or even lower property taxes on 700k homes..u just should not be basic dumb person while shopping for home..to pick house that is not in mud or pid zone

[pandu123b]

12 minutes ago, Pandubabu said:

On 1M house , you pay 10k per year in NC , 30k in Texas , difference is 20k.

If you think , 20k is so much that it is your max 401k limit on tax savings ..

aa 20k , manam after tax money tho pay cheyali anna.

example, 100 k salary lo after taxes 70k vaste andulo 20k(30 k in gross salary) anna

anduke texas affordability lo property taxes miss cheste chala kastam avtadi.

this Big point was missed by most people moved frok bay area & seattle and paid extra money like ~1 M and now realized that texas is also costly anna 😀

[Jalsa456]

4 minutes ago, no01 said:

this plan works out if ur bachelor/newly married without kids.....if already 1 kid or more unte, small spaces wont help at all....few yrs tharuvtha big house enduku inka? when kids out grow 10+yrs ala.....they hardly use extra space. All they need is a bedroom and they spend most of the time there anthe.

small kids unnappude big house konatam better.....though cleaning wise (toys, food particles etc) is a big mess, but they will have lot of space in the house to run, walk etc. And frequent b'day parties avthai intlone, so lots of guests and lots of other small kids in the house.

This is my take on big vs small house

I mentioned this as this is better than staying apartment as  atleast u build some equity and u get better features like garage and backyard compared to apartment still may not be large house but kids get their own rooms even small one..in a larger picture with single income ppl this is very good option in affordability and building equity and in 2 or 3 yrs if things work out flip to big home..

[Simple123]

1 hour ago, Sonu_Patel said:

Been paying rent for 3 bed townhome from 2019 till today... started rent with Paying $2500 per month.. Now paying $2800 per month..

calculate chestey easy ga 4 years ki $120K pay chesa.. 

I am realizing to buy a home now ? please correct me if i am missing anything.

2 yrs nunchi mother-in-law money istduni , house kontunna ani post vestav .. kani home konale

[no01]

1 minute ago, Jalsa456 said:

I mentioned this this is better atleast u build some equity and u get better features like garage and backyard compared to apartment still may not be large house but kids get their own rooms even small one..in a larger picture with single income ppl this is very good option in affordability and building equity and in 2 or 3 yrs if things work out flip to big home..

I agree with you.

when I said big vs small house, it all depends on our financial situation for sure. But if u can afford big house, but purposely bought smaller one thinking that later in life we can buy bigger one and sell/rent this one etc...this sounds like a good plan financially...kani house is not just a property, lot of emotional things attach to our house. So nenu ah point lo cheppa. But its purely personal financial situation 

[Sonu_Patel]

23 minutes ago, Simple123 said:

2 yrs nunchi mother-in-law money istduni , house kontunna ani post vestav .. kani home konale

waiting chestunna bro.. but prices peddaga padatam ledu

[ARYA]

55 minutes ago, Pandubabu said:

On 1M house , you pay 10k per year in NC , 30k in Texas , difference is 20k.

If you think , 20k is so much that it is your max 401k limit on tax savings ..

taxes are imposed on the assessed value not on sale price

 

[TriStateBabu]

23 minutes ago, Sonu_Patel said:

waiting chestunna bro.. but prices peddaga padatam ledu

anna, why the f did you not purchase a home when the interest rates were low in the beginning and mid of last year is beyond me. So you need do heavy research now and buy a home where you can offset with huge down payment so that the current interest rates do not matter. Db pandits and reventure consulting lanti youtube pandits ni follow chesi you’ve wasted so much time. 

[Scurvy]

2 hours ago, no01 said:

this plan works out if ur bachelor/newly married without kids.....if already 1 kid or more unte, small spaces wont help at all....few yrs tharuvtha big house enduku inka? when kids out grow 10+yrs ala.....they hardly use extra space. All they need is a bedroom and they spend most of the time there anthe.

small kids unnappude big house konatam better.....though cleaning wise (toys, food particles etc) is a big mess, but they will have lot of space in the house to run, walk etc. And frequent b'day parties avthai intlone, so lots of guests and lots of other small kids in the house.

This is my take on big vs small house

Bday parties kosam big house konala ? 
What logic is it. Ide trap lo seen friends who bought big house and now feeling regret and thinking what is the use of it.