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Answers (7)
Best Answer
- Cindy LaPeer ABR, e-PRO,SFR, Cdrs, "Houston Metro Pro"
- Contributions:2239
There's more to consider when moving than just buying a home. And I agree with BMFPitt. The numbers don't make sense. Talk to a few more lenders.
- Ice L.
- Contributions:11285
Zeta - Please, no self promotion in the forums.
Thank you.
Thank you.
- Zeta Cross, "ZetaCross"
- Contributions:126
One of the best realtors in America is Christian Moreau of Progressive Realty and The Green Team in the Denver area. If there is a deal for you in Denver, Christian will find it. He is moral and honest and won't sell you a house if he feels it will not be in your best interest. We on Zillow need a lot more information before we can advise you: If you only make $32000, and are approved for $150,000. You must have good credit. Congratulations! The low interest rates and the tax credit will be the stuff of legend in a few years. If you see yourself enjoying Denver for more than the next five years, buy a starter house for around $100,000....a small house in the best neighborhood you can find. Make it cute and you will have equity for your house in the woods when you are more settled in your career and making more money. Talk to Christian. email me in Philadelphia and I will give you his contact information. [content removed by moderator due to self-promotion] Good Luck!
- Lady Chattel
- Contributions:3110
LOL BMFPitt! So true.
Denver was listed as one of the worst real estate markets posting the highest drop in home values. Your better off sitting on the sidelines for a while longer.
Denver was listed as one of the worst real estate markets posting the highest drop in home values. Your better off sitting on the sidelines for a while longer.
- Andy Kalinowski, "1AndyK"
- Contributions:226
The tax credit should be at the bottom of your list of reasons to buy a specific property. Affordability, location, happiness of every family member (yes even the kids) and amenities should get higher consideration than the tax credit.
Buy something that you'll be happy with first and foremost. The tax credit is only the gravy.
Good luck.
Buy something that you'll be happy with first and foremost. The tax credit is only the gravy.
Good luck.
- Yuval Degani, "Dream Town Realty"
- Contributions:67
What this boils down to is whether or not 8,000 is worth having your "dream home" or not. If you don't LOVE it don't buy it! Would you take 8,000 to be stuck in a home and an area that you don't like for 5+ years? If you are not completely attached to your current area and have the option of moving to somewhere that allows you to have exactly what you're looking for, 8,000 seems like a small price to pay to be satisfied with your decision. Ultimately it's up to you.
- BMFPitt
- Contributions:1207
I make 32K a year as a local truck driver, and I am approved for 150K mortgage.
Unless there are a few things you forgot to mention in that sentence, you should key the car of whoever tried to get you to buy a house for 5X income.
Unless there are a few things you forgot to mention in that sentence, you should key the car of whoever tried to get you to buy a house for 5X income.
first-time buyer's dilemma
as a local truck driver, and I am approved for 150K mortgage. The houses in the metro area in my price range are small
older houses with small land parcels. I have an idea in my mind of what I want,
and it simply doesn't exist here in the metro in my price range. I decided tonight
to give up looking. This realization came after I looked up houses in other states
in my price range. I found nicer homes, bigger parcels of land, and wooded areas.
In other words, exactly what I crave. So would it be wise to give up the $8000 tax credit and prepare to move someplace new in the Spring to afford the type of house and property I want? Obviously by this time the tax credit will have expired. I think I should be able to get a local truck driving job elsewhere. I am not too worried about that aspect. I just don't want to regret not taking advantage of this
home buying time with the low interest rates, and tax rebate. Thanks.
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