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/biz/ - Business & Finance

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147407 No.147407[DELETED]  [Reply] [Original]

>tfw trying to find an affordable starter home when only $20k in savings

>> No.147410

> tfw when a 3 bedroom detached house in my area will be $600k minimum

>> No.147413

>>147407
You made a thread a few days ago didn't you? I remember the 20k and that exact picture.

Where do you live or want to live?

>> No.147415

>paying $139K for that

toppity toppest of lel's

>> No.147452

>>147407
Don't buy a home until you're sure you want to die in there.
also
>1 bath

>> No.147456

>tfw paid 80k for a house my aunt use to live in that is worth 250k-300k near any major city.

sometimes living in a ruralish area is bretty good.

>> No.147620

Why don't you buy a fixer upper?

>> No.147653

Detroit.

The cheap houses more then likely have a 50k or more tax lean on them and are surrounded by nignogs.

>> No.147670

>$139k for that piece of shit
Holy hell, it better have a good location and $139k is the cost of the land minus the cost to remove the house.

>> No.147683

Might I ask what shithole country/state this abandoned shack is located in?

>> No.147687

>tfw you will never own a house

Thanks Boomers

>> No.147703

>>147683
anywhere away from the coast and you can buy a house for about 100k.

>> No.147706

>>147670
it's 5 minutes from Newport, RI and a beach

>> No.147709

>>147687
buy some land in the woods and live in a tent/RV/Trailer/improvised shelter until you can put up a shack with your own hands.

>> No.147713

>>147670
>tfw in Maryland near Baltimore

ngersocn bleak
Thanks captcha

>> No.147723

>>147703
How about work - do earnings and job availability drastically decrease the farther you move inland?

>> No.147727

>>147713
you got a picture of its location on a map? How many minutes away?

Also it obviously has no yard and is probably in a nigger neighborhood.

>> No.147737

>>147713
>>147727
>Baltimore

you can probably go cheaper. find the owner of the house and you can probably do a trade, a gram of black tar heroin for the deed.

>> No.147803

We bought a cookie cutter modular house. I know it sounds shitty, but it is 3400 sq feet and it was only $70k. 3 bedrooms, 3 bathrooms. It is great as a first home.

>> No.147839

With only $20k in the bank I really don't think you should be buying a house, especially if the places you are looking at will be over $100k.

It's such a huge money sink, I would just keep renting for a while. Renting is more expensive in the long run but at this point in your life I think the flexibility will be worth the cost.

A house is a massive commitment, and it's a very expensive commitment to break.

>> No.147844

>>147803
i dont want to live in a trailer park

>> No.147893

>>147844

You don't have to live in a trailer park. I live on 19 acres. But you do have to pay for a septic, water well, and run gas lines if you don't want electric.

>> No.148005

>>147407
Melbourne here, count your lucky stars.

>3 bedroom
>2 story
>veranda
>lol 1.5M

>> No.148008
File: 238 KB, 664x1020, ocean drive.jpg [View same] [iqdb] [saucenao] [google]
148008

>>148005
prices are pretty bad here too

>> No.148013

>>148008
Oh please
>7 bed
>7 bath
That's a business, you deserve to pay more for that. You could make easily 1000 a week by renting 6 bedrooms as a bed and breakfast thing... maybe without the breakfast.

>> No.148020
File: 521 KB, 679x783, newport.png [View same] [iqdb] [saucenao] [google]
148020

>>148013
I'm not renting out my ocean front property to god knows who

>> No.148085

>>147893
>>147803
what modular home is it? link?

im thinking about getting one...

>> No.148106

>>148013
$1000 a week, $52000 a year, p/e=300

>> No.148121

>>148106
>easily
I dunno, how much is a single room for one night at a BnB? It seems pretty easy to do, just hire a fucking cleaner and a cook and you've got everything there.

>> No.148193

>>148013
that's 312,000 a year

what about the other $500,000?

>> No.148223

>>147407
That's a beautiful home op. It's just a fixer upper.

Needs a new coat of paint. Cut and instal a railing over the second floor balcony with some furniture.

Pit in new blinds. Remove those ugly gutter and replace with sheer gutters rerouthe the drain pipe to the side.

Tint windows.

Rip off and rebuid lower deck and lower deck railing.

Do some landscaping plant some shrubbery and a tree.

Tile the front walkway .

Do something about those ugly shingles.

total cost 5,000 dollars plus time added 100k value to house.

>> No.148234

>>147407

>not full 2 bathroom home
>less than 1600 sq ft
>in a state of relative disrepair
>seller wants 140k for it

Looks like a house someone bought and thought they'd flip before the housing bubble popped and never got around to it afterwards. Would not buy.

>> No.148235

>tfw I overspend on my 2 bedroom 1 bath $49K house back in 2007
>tfw my area is poor but I pay $1200 in property taxes a year on my slum
>tfw I have a 2.75% interest rate though and planning to maybe keep this property and rent it out in a few years after I move.

>> No.148237

>>147452
That's stupid. Nobody buys a first house thinking "I wouldn't mind living out the rest of my life here!"

>> No.148260

>Buying anything but a car space for 20k here

My parents shitty 2 bedroom apartment is worth 850k.

No way I'm ever owning a house or flat.

>> No.148283

>>148121
Don't know.

You would need something like $1500 per bedroom per week ($10500 for all 7 bedrooms) for it to make the least amount of sense as an investment. That is about the same as a luxury new york apartment.

>> No.148285

>>148237
You should. What if something goes wrong and you have to stay there?

>>148260
Where?

>> No.148288

Are mobile homes even worth it?

I mean, they're literally 5x cheaper than a small condo, but that's probably because a seller would probably have to wait a year to get one offer.

>> No.148384

>>148288
>generally not allowed to put them outside of trailer parks
>have to pay lot rent to a trailer park and live in a trailer park
I've seen decent examples sell for $2k-$3k, moving it would most likely cost more than it's worth though, but you could buy some property inawoods in the county and live out there cheap.

>> No.148394

>>148384
I think he means http://www.claytonhomes.com/find_homes.cfm

not trailer parks.

>> No.148407

>>147709
actually sounds like a good idea

>> No.148415
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148415

>>148005
upper middle class inner suburbs detected.

Werribee shit farmer here, fastest growing area in Australia.
>3 bedroom house
>1 story
>1 bathroom
>350k+

I have to look out towards melton or corio if I ever want to own a few properties.

>> No.148423

>>147407

>Buying a starter home in a market inflated by another bubble

When that shit pops you'll be living in your house that is worth nothing for years.

>> No.148462

>>147407

1. move into a rural area
2. buy 20 acres of cheap land
3. put a trailer home + septic tank on it
4. steal internet from a local mcdonalds or library

>> No.152377

>>147452
Also depending on region owning can be cheaper can renting.

>> No.152449
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152449

>>147407

Yes OP. Be a good goy. Pay me interest for 30 years. Balloon note, ARM, simple interest, minimum payments, pre-payment penalty.

Yes. This is good, get a mortgage OP. Take your death pledge.

>> No.152473
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152473

$650/month for 1 bed and 1 bath with a lease-to-own option. Good idea with $25,000 in savings? Not sure of square footage, but average p rice per sq.ft. is ~$150 to buy and usually about $600/bed to rent.

>> No.152476

>>147803
>>147844
>>147893

I used to do mobile home mortgages. Never ever finance a mobile home because you are going to get raped. 25% down and you'll get in, because we know you'll default kek

Modulars are bretty cool though. They aren't factory built like a fucking car, they're built on site to local code. You have $1,000,000 luxury modulars no one would ever guess wasn't a true site built home.

But if you finance a trailer, you'll get a mortgage with absurdly high interest like a car note. Except unlike a car note, you're paying that bitch off for 20 or 30 years

>> No.152493

>>152473

>lease to own
>option

Don't get fucked. Buy that shit straight cash homie (randy moss payment plan), or get that shit financed through a legitimate lender.

>calling yourself a homeowner
>deed isn't in your name

all of my keks

>> No.152511 [DELETED] 

>>152493
I would have my lawyer or real-estate agent help me get a proper contract lined up, the last thing I was is to lose out on my savings. So far as I can tell, the seller wants me to finance it, so I assume I'd need a mortgage and to sign a contract to get the deed. The contract would stipulate that if I can't pay the mortgage, the contract is void.

My only concern is my income. I can afford $600/month, but I still have 1.5 years of college. My parents are moving out of state (from New Jersey to South Carolina) once I graduate, so I need to plan.

>> No.152542

>>152493
>>152493
I would have my lawyer or real-estate agent help me get a proper contract lined up, the last thing I was is to lose out on my savings. So far as I can tell, the seller wants me to finance it, so I assume I'd need a mortgage and to sign a contract to get the deed. The contract would stipulate that if I can't pay the mortgage, the contract is void.

My only concern is my income. I can afford $600/month, but I still have 1.5 years of college. My parents are moving out of state (from New Jersey to South Carolina) once I graduate, so I need to plan.

http://newjersey craigslist org/apa/4345617353 html

>> No.152564
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152564

>>147407
>living in the US

trashed

>> No.152566

>not renting out a mansion for 2k/month.

Stab pleb.

>> No.152574

buy a land plot and some trailer. if u wanted you could build a house for less than that

>> No.152767

Anything under 150m^2 isn't worth buying.
Just stick to renting, you'll move out sooner or later.

>> No.152844

>>152564
Mexico?
Costa Rica fag here

>> No.152898

>>152542

just get that nigga to sell you the house straight up. fuck that lease shit.

>> No.152950

>>152898
I have $25k, I can't just buy a home