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the is this... a question or a fake ass eharmony post?
im thinking about buying a house for the tax break this year but people are telling me that the maintenance in itself makes it not worth buying a house, which is mainly what my father and uncles are telling me. is it really that bad?
stats on me: male, 26, party goer, accountant (curently job hunting). loves long walks on the beach, conversations about sweet nothings
the is this... a question or a fake ass eharmony post?
im 26 and im buying a house
just to let you know
most of my friends rent
Do you intend to stay in the city in which you are for a while?
How much are you paying in rent compared to how much the house payments would run with with insurance, taxes...
Are you sure you qualify?
I have a relative who bought a house in college because with collecting rent from a roommate, it ended up cheaper than what he was spending renting an apartment. He is glad he did it.
my friends rent too...that or live at home...im thinking of renting to my friends and making my house into a frat house to lower my monthly payments -_-
i just moved back home(houston) from new jersey so ive had my share of exploring, pretty sure i'll stay here for a while, im not paying crap because i live with my parents, i think i can afford it but i probably have to cut out my thursday drinking nights, and yeah im sure i qualify, last time i checked i had a 790ish credit score
can't think you'll get a lender without a job
Richer??
Usually it works out being better than renting if you stay there about five years or more. Also prices and interests rates probably won't be this low forever. Throw on the tax rebate for first time buyers and you have a pretty sweet deal. Good luck finding a lender, but I suppose a cosign from your parents would help.
Just don't forget about the cost of maintenance. Owning a house is nice, but it's much nicer if you have a decent maintenance fund available. Repairs and modifications are expensive and can add up real fast.
hahahaha
99.9% sure that you won't get pre-approved/approved without a job.
And if you look at homes be sure to include property taxes and home owners insurance in to what your monthly payment will be..along with maintenance.
im looking for a job right now and i plan to buy around novemberish
see thats what im worried about so im thinking of renting to acquaintences not close friends...i can afford the monthly but any extra help would be nice`
any horror stories or examples?
Your gonna need to get a job first, then you might want to think about looking into it.
just fyi you have close before December 1st to be eligible for the FTHB credit.
And if you rent the home you have to make the home your primary residence as well. None of that "well I'll rent to friends" and then rent an apartment of my own to make some extra money. That's not what the credit was made for. You would be considered an investor.
I know that's not what you're intending on doing...but there are rules associated with the credit.
LOL
You can look now but don't actually do anything untill you've got a job.
yeah definitely
this is going to be my primary residence, i'd probably rent out to only people i know, when i moved to new jersey i found out there are a lot of really weird people on craigslist looking for roommates and since this is my home id like it to be in one piece. looking for a job is my primary goal right now but i was at my uncles house last night and the subject was brought up
LOL
someones sarcasm radar must be broken...i know thinking a little forward but its something that needed consideration...i am as practical as a person can be and im pretty responsible and my credit score reflects that
why cant i think about it while looking for a job, there are so many jobs you can apply for before your wasting other peoples email space with your resume
Mortgage companies want to see a job history, usually two years, if you dont have a job now, its going to be very hard for you to get a house by Dec 1 to take advantage of the tax credit. Look all you want, but this is the classic example of people doing things backwords. Instead of finding a house first & then trying to go get financing after you have found it & then be utterly disappointed when they tell you you cant get the house of your dreams, why not go get pre approved first. Once you have done this, not only will you know what you are qualified for (can afford to pay), but when you show your preapproval to interested home sellers, they are going to know that you are serious. Im in the mortgage industry by the way. Most people dont want to hear things like this, but there is a reason that we are where we are today.
Ding ding ding ding! Your not buying a puppy... it's a house. Banks want job history!!! Stability.
Do me a favor, don't buy a house. You'll somehow up the value of the house I just got on Friday.
As someone already said - your lender will require at LEAST two years job history, along with a down payment. If you're going FHA, expect a bit higher requirements since they only require 3.5% down.
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