To all home buyers...
- Thread starter dbzeag
- Start date
Shopping for homes youself is great but you are limited to the homes that simply are not selling. In order to get in on the action you need a buyer's realitor (research the difference between a buyer's and seller's realitor). He or she will have access to homes that are not listed on the public websites as well as homes that are about to go on the market. You don't pay them a single cent. The seller pays a % of the final cost to their realitor and they are required to cut off a % for your realitor.
The buyer's realitor will also organize the times to see the homes, cover negotiations with the seller's realitor, and help you with all the steps involved in buying a home.
The buyer's realitor will also organize the times to see the homes, cover negotiations with the seller's realitor, and help you with all the steps involved in buying a home.
this is very important too. we got hooked up on our home when we bought it in 2003 (2 bed, 2 bath, 2 car garage on 1/4 acre for 80k) and the year after the market went crazy. An identical house right down the road from us just sold for 160k!!! We are seriously thinking of selling, cashing out, and investing the equity we get to make even more money.CasopoliS said:
sanblaster
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sam1 said:
you will have to take that money made to buy the same size house if not more in your area.......you will not make money on selling.
dbzeag said:that's why no one in his/her right mind lives there
j/k
Yeah I think about going to another state, but the idea of driving 10 miles just to find the nearest mcdonald or post office just doesn't appeal to me. I walk to 100 different resturants where I live and I love it. =p
dbzeag said:
Your major benefit would be in having both of you on the loan app. if he makes and income as well and has a good credit rating. if not then on your own might be better. With your available income and the house prices your are looking at you are well able to afford a home. If you plan on staying for 4 years then I would look at a hybrid 5-year ARM. This will lock your rate for the first 5 years and then it goes adjustable. After which point you either refinance to a 30 years if you want to stay, you sell and buy something else or you stay and pay whatever the interest rate goes to. Overall you look to be in good shape for purchasing and as you won't be having kids you don't need to worry about that added expense. I'd say to go for it, just get pre-approved first then get a realtor and pay the fees, it's worth it to avoid the hassles.
Protege52003 said:
well thats another thing. right now, im not too sure that i want to buy another house at this point in time. with the house prices so ridiculously high now, i think its a safer bet to take the money and invest it in something else relatively safe and short term, such as cds, for a couple years. that way, when i am ready to buy again, i will have that much more to either put all down on another house, or maybe put half down, and still have quite a bit to invest still. i am still unsure, because, like you said, if i were to just go and immediately buy another house, i would need to put all of it down in order to still get something decent and stay in my price range and no money would be made. we would basically stay in the same situation we are in right now, which is not nessesarily bad, but im not making as much as i think i could and none of my net worth is liquid, its all tied up in this house. any input you have on this would be greatly appreciated.
...sorry for the thread jack =)
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