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Nelsonia Hokie

Joined: 01/05/2001 Posts: 6942
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Tend to get more house for the money in a used house


than you can buying the same house new. To paraphrase someone below something breaks every year unless the house is brand new then it holds off to year 5 or so. Figure 1-2% of the houses value every year give or take. Don't go for the lowest mortgage rate unless planning to be there a really long time. You will pay points upfront and if you flip in 5 -7yrs the cost will be higher. I agree with the sentiment about renting for awhile and getting a feel for the city. Also if you can find it a really nice house that you can rent is great. Houses are a lot of work - yard, all kinds of little ticky tac stuff always needs doing. If you enjoy doing that stuff on the weekends have at it but if not look to rent or buy a low/no maintenance place. Dont pay PMI (private mortgage insurance) if you can help it. Try to roll into loan or get a second so the cost is tax deductible.

(In response to this post by MBHokie90)

Posted: 11/30/2020 at 4:28PM


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Current Thread:
 
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  Tend to get more house for the money in a used house -- Nelsonia Hokie 11/30/2020 4:28PM
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