Reddit first time home buyer

The market cost is high right now but the Feds are raising the interest rate in March. That means do you want to pay a lower interest on a house now at a higher cost or you could wait and risk the market crashing because of the interest hike. If the market crashes you will get a house for thousands cheaper but will the interest rate raising ...

When you sell, you have to pay 5% to the realtor, 5% to the feds. So your $400k home now needs to sell to sell for $650k to break even. (5% to realtor ($32.5k), 5% to feds ($32.5k), $75k in expenses, $12k in closing costs, $97k in interest). The risk isn’t worth it in my opinion. If I’m owning an asset, I want to own it.We put 3.5% down. Our escrow is lower than the cost of our rent from our mediocre apartment last year. We went from 2200 a month to our landlords to paying $1900 a month towards our escrow and an extra few hundred a month towards principal.Sep 7, 2023 ... Local lender here - TSAHC or TDHCA are the organizations with programs for down payment assistance here in Texas. Most mortgage lenders in the ...To live comfortably on that salary, you shouldn't take out a mortgage more than roughly $400k, which would mean cashing out $600k. I could give more specific advice if you give more info on the geographic location you are targeting and what … I am looking into buying a home this year with my partner. This is both our first times. We are looking at homes that range from $400k-$500k. Me: $50k salary, 682 credit score (will go up a bit with some recent payments I did), $550 car debt each month - will be paid off next year, student loans of $50k, credit card debt $450 (Pay off this month) We put 3.5% down. Our escrow is lower than the cost of our rent from our mediocre apartment last year. We went from 2200 a month to our landlords to paying $1900 a month towards our escrow and an extra few hundred a month towards principal.Recently, Reddit user u/Throwaway062221 took to the subreddit r/FirstTimeHomeBuyers to commiserate about the challenges of being an actual …As far as taxes, yes NJ is high on average, but there's still a lot of variability. Looking at the property tax bill of a property here is almost more important than looking at its listing price. Sometimes you can find a property with a $4,000 yearly bill, and the next town/county over, the same house (at the same list price) costs $15,000 yearly.

Given enough time, your home is virtually guaranteed to appreciate. You may have to wait out a valley (or two) if you wait long enough, but you will end up in the black. The better question you should be asking is: I plan on selling my townhome in ____ years. Do I think the townhome will have appreciated by then?We fell in love with the first home we ever looked at due to a vertical foundation crack and a bulging wall. Very similar issues (sloping property, poorly managed drainage, etc). This was going on 3 years ago.My specialty is first time home buyers. It is up to $10k for either downpayment or closing costs. I'll send you a PM. tomnjmlo • 9 mo. ago. Most common down payment assistance program is with the NJHFMA which is through the state. Eligibility for these programs depend on income limits and as another poster said it’s a 10 or 15 thousand ...237K subscribers in the FirstTimeHomeBuyer community. The ultimate subreddit for everything a first time home buyer NEEDS to know.Some localities offer first-time homebuyer grants however you have to make UNDER a certain amount of money to qualify and then are often paired with FHA loans which charge PMI and have a higher interest rate. In DC there is a tax credit first-time buyers can utilize. Ask your Realtor or lender. And congrats on deciding to buy your first home!Are you considering buying a pre-owned mobile home? Whether you’re looking for an affordable housing option or a vacation property, pre-owned mobile homes can offer great value. Ho...5. balanceandpeace. • 9 yr. ago. Duct tape and scissors -- make sure the scissors aren't sealed in a box somewhere. Garbage bags and paper towels. One of the last boxes you pack, and of the first you want to open is bedding material. Make up your bed before you start unpacking anything else. 3.

There are restrictions. Each DPA has its own set of guidelines. Most ( but not all) have the following common requirements: · You have to be a first-time homebuyer. · You have to take an 8-hour homebuyer counseling class. · You have to maintain the house as your primary residence for X years (usually 5 or 10).Learn. First Time Home Buyer Tips. First-Time Home Buyer Tips: A Guide. March 12, 2024 9-minute read. Author: Carey Chesney. The lure of first-time homeownership is …Oregon Bond Loan Program - Either 3% cash to assist in downpayment. or a 3.25% rate with no cash assistance, for the Portland area your income needs to be below $96,000 ( which I'm not ). Sucks that I'm barely over the limit, but hopefully someone else will enjoy a great rate or DP assistance.First time home buyer stress. Okay so my husband and I will be first time home buyers soon and I literally cannot handle the stress. We both work full time and I am constantly answering texts and calls during work about the house- some of which send me into a mental spiral of panic, confusion, and fear that we will not be able to afford our ... 11) Be careful with the brand new homes. You would not believe the cost cutting measures some of the builders take. Research the builder if you go that route and make sure they are reputable. Maybe discuss a warranty on certain aspects of the home. 12) Look up any fees associated with your neighborhood. HOAs, etc.

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We make $110,000 a year combined and are 21 and 22. Have paid off cars that will need replaced in 1-2 years and 3-4 years. Building quotes for our dream home unfinished basement is $2700-2800/month + ~$400 … I purchased my first home - a condo, two years ago. Best decision I made. At the end of the day, after renting, you have nothing to show, except a pitiful $300 cleaning deposit refund. Your realtor will tell you to waive contingencies when making an offer. Money talks. If the cash offer with no inspections if $50k less than yours they will have a hard time turning you down. 3% earnest money, 30-35 days to close with an inspection and finance contingency is more common in the bay area.It's a comprehensive guide to the basic workings of a house and how to DIY simple repairs and jobs. Learning some basic skills can save you thousands down the road and help prevent you from getting taken advantage of by contractors. If your near an area with Redfin, they have some home buying "classes".For being who bought homes in MA, what programs have you used as a first time home buyer. I am aware of: OneMortgage Masshousing up to 25k down payment assistance with 2% loan amount.

For being who bought homes in MA, what programs have you used as a first time home buyer. I am aware of: OneMortgage Masshousing up to 25k down payment assistance with 2% loan amount.If you think that scandalous, mean-spirited or downright bizarre final wills are only things you see in crazy movies, then think again. It turns out that real people who want to ma...In today’s fast-paced world, having a high-quality music system at home is essential for those seeking to enhance their entertainment experience. Bose, a renowned brand in the audi...Aug 17, 2023 ... Additionally, if the home appraises for higher than the selling price, you can even finance the closing costs. House I'm buying cost $145K, ...What does it mean to be Reddit first-time Home buyer? Reddit First-time home buyer programs Eligibility. Reddit First-Time Home Buyers Programs. … Here are the points I'm looking for opinions on. Our realtor had us make an "escalation" offer of $5,000. He called us the night of the best and final offer to say that we were the highest and strongest offer. This was when our price was named. $25,000 over asking and at the very top of our budget, but still doable. 237K subscribers in the FirstTimeHomeBuyer community. The ultimate subreddit for everything a first time home buyer NEEDS to know. For context, I purchased a $170K home in 2015. The current market value is $420K based on past photos and details. Between the upgrades, changes, and landscaping that I mainly did - it’s worth at least $700K or more honestly. Bringing a new cat into your home is an exciting and rewarding experience. However, before you rush to buy a cat, it’s important to ensure that your home is prepared to welcome you...CalHFA is entitled to 15% or 20% of the appreciation gained the purchase date. Whether you pay 15% or 20% will depend on your income. Per the guidelines, buyers whose income is between 80% - 150% of your county's Area Median Income (AMI) pay 20% of the appreciation. Most buyers are going to be within this range.2nd time beat out by a cash buyer. Feeling so hopeless. 138. 73. r/FirstTimeHomeBuyer. Join. • 20 days ago.

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If your home value increases to $300,000 your payback would be 5% of the current value or $15,000. • ⁠You receive a 5% incentive of the home’s purchase price of $200,000, or $10,000 and your home value decreases to $150,000, your repayment value will be 5% of the current value or $7,500. Given the historical appreciation in housing prices ...grossly underestimated the cost of ownership. Maintenance is expensive and I only focused on the big items (roof, heater, fence etc.). small things like buying the tools to DIY, even if you buy second hand could add up quickly. Cost of utilities might be much higher. It is time consuming to own a home. First Time Home Buyer. The ultimate subreddit for everything a first time home buyer NEEDS to know. 277K Members. 1.4K Online. Top 1% Rank by size. r/FirstTimeHomeBuyer. As far as taxes, yes NJ is high on average, but there's still a lot of variability. Looking at the property tax bill of a property here is almost more important than looking at its listing price. Sometimes you can find a property with a $4,000 yearly bill, and the next town/county over, the same house (at the same list price) costs $15,000 yearly.6 days ago · The $10,000 First-Time Home Buyer Tax Credit is a mortgage relief program to help low- and middle-income households stop renting and start owning. The program gives eligible buyers $5,000 a year in tax credits for their first two years of homeownership. Tax credit money can be used for any purpose. Jul 7, 2023 ... Are there any 1st time home owner grants you recommend? Which lender did you go through? What type of loan did you use? Conventional, FHA, WHEDA ...In reality, if you don't have money in the bank that can go towards a down payment or closing costs, you're not in a strong position to buy in this market. Even with down payment assistance you still need money to purchase. I'd be happy to chat more about it if you send me a dm. r/FirstTimeHomeBuyer.

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I purchased my first home - a condo, two years ago. Best decision I made. At the end of the day, after renting, you have nothing to show, except a pitiful $300 cleaning deposit refund. Make sure you still have savings after the closing. Don’t assume you’re okay if the mortgage payment is the same as your rent, because you also need to plan for maintenance expenses (new water heater every decade, new roof every 15 years, new furnace every 20, weather damage on the exterior, windows, etc,) jay5627. • 2 yr. ago. 5. balanceandpeace. • 9 yr. ago. Duct tape and scissors -- make sure the scissors aren't sealed in a box somewhere. Garbage bags and paper towels. One of the last boxes you pack, and of the first you want to open is bedding material. Make up your bed before you start unpacking anything else. 3. The price of any given house is dependent mostly on how desirable the location is, followed by how new the construction is. You could take one of these $1 million homes, demolish it, and build a 30% smaller house on it with only working class fixtures and finishings - and it would still be worth $0.95 million. first time home buyer wondering about dry rot. hi reddit. i've got a question for those in the know: we're putting an offer on a house that, according to the disclosure reports, has about $15,000 worth of dry rot repairs (there was a repaired leak in a bathroom that, considering how expensive the repairs are, i'm assuming was the culprit). the ... Think like 600-1400 for a basic impact window. Not to mention prices are ridiculous you’re going to pay like 400-500k minimum. Not sure what you’re planning to do with the home also lawn care in the summer is every 2 weeks basically. r/FirstTimeHomeBuyer. Mar 24, 2023 ... With all of that in mind, like I said above, I'm eager to buy a house and start investing in my own finances and myself. Below, I'll describe my ...Given enough time, your home is virtually guaranteed to appreciate. You may have to wait out a valley (or two) if you wait long enough, but you will end up in the black. The better question you should be asking is: I plan on selling my townhome in ____ years. Do I think the townhome will have appreciated by then? Tips for first time home buyers. We may be purchasing a house this year (northern Virginia). What are some things that you wish you had known or done before purchasing your home? I'm specifically thinking along the structural side, repair remodeling side when purchasing a fixer upper. Share. ….

I just bought a house a few weeks ago. One thing that stands out for me is the sewer system. Have it inspected. Eight days after closing on my house, lower level flooded due to clogged sewer lines in the front lawn.There are restrictions. Each DPA has its own set of guidelines. Most ( but not all) have the following common requirements: · You have to be a first-time homebuyer. · You have to take an 8-hour homebuyer counseling class. · You have to maintain the house as your primary residence for X years (usually 5 or 10).You also pay all closing costs, no seller credits allowed. APR for a 10/6 loan was 3.75. If nothing else Navy Fed might match Alliant. If you’re in a super hot market like LA or Boston or Austin, most sellers won’t accept a 100% LTV loan though. r/FirstTimeHomeBuyer.Are you looking to create a home gym that will help you achieve your fitness goals? If so, incorporating Life Fitness equipment into your setup can be a fantastic choice. Known for...In the competitive real estate market, accurate home value estimates are crucial for both buyers and sellers. With the advent of technology, there are now various online platforms ...May 31, 2023 ... Unless you're paying cash, talk to a lender and get preapproved first. Make sure when you're budgeting you take into account taxes, insurance, ...Selling a home can be an overwhelming and stressful process, especially if you need to sell your home quickly. Home cash buyers can offer a solution for homeowners who need to sell...We make $110,000 a year combined and are 21 and 22. Have paid off cars that will need replaced in 1-2 years and 3-4 years. Building quotes for our dream home unfinished basement is $2700-2800/month + ~$400 …Roomba vacuum cleaners have revolutionized the way we clean our homes. Their advanced technology and efficient cleaning capabilities make them a popular choice for many households.... Reddit first time home buyer, [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1]