What is best for 1st time home buyers? old cheap house bought cash or nice house with a mortgage? - cheap old polaroids for sale
I would not mind living in a beautiful old house, and save not so cheap for a few years money. And then buy a nice house.
What do you think is better? Buy a nice house with a mortgage or buy cash, an old house, waiting a few years and save money?
I have no children.
Sunday, January 10, 2010
Cheap Old Polaroids For Sale What Is Best For 1st Time Home Buyers? Old Cheap House Bought Cash Or Nice House With A Mortgage?
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10 comments:
It is always the best way to not be in debt.
If you do not pay the mortgage, you are financially independent. One must not always live in fear for their jobs and on the street because they are likely to make their mortgage payments.
Personally, I live in the old house and always wanted to huge savings by not with a mortgage and retire early.
Buy an old house repairs and improvements, as you can afford to do so, then sell the house and the money as a down payment later, if you buy a house better.
I know people who buy an old house and live there while they go fix it, you sell to another and you just transfer and save you money to another purchase, or, ultimately pay a large amount to a new home.
Zeba
http://www.BeatTheDebtMonster.com
It really depends on what your tastes ... In southern California, roughly the same cost ... older houses are sometimes charming and neighborhoods have been created ... Schools, shops. Starbucks ... so close to you!
New houses are new! duh .... You will receive a warranty for major repairs to obtain at a time ... Face, but can your warranty is better, to a new home ... with slow economic growth, a new home builder can offer incentives ..
You should go to each of the three ..... and decide!
Buy a cheap house in a good neighborhood.
Y live.
Buy cheap and rent another house.
Later, you can stay in a beautiful house.
Buy a cheap house in a good neighborhood.
Y live.
Buy cheap and rent another house.
Later, you can stay in a beautiful house.
If you pay cash, you can not deduct anything except taxes. And you will be caught in a miserable home, without cash reserves. You buy something that you make with a reasonable mortgage, and save your money.
go with the new house. seriously, there is no better time than now to buy. People are desperate to sell their mortgages and banks are desperate to get rid of all the institutions of enforcement. Estate agents are desperate to work in their behalf, for certain businesses. The real estate market is so bad that they have a buyer. if you have enough money, then get a new home. If you can wait a couple of years more money to have a house, but the market is probably better quality, higher prices and interest rates high is to lose money, it would in the meantime. something so stupid, and if you have more than you can handle or you'll end up like many of these people that are now being implemented. Good luck.
I remember, to see how their money out of the house.
If you save to buy the house at the age of ramshakle "" a few years will be able to sell to someone else in 5 years?
If you buy the nice house with a mortgage, it's easier to sell in 5, 10 or 15 years?
Now you might be able to resell the old house cheap, fix a little and at a profit, but then have tax problems.
What is your exit plan?
If you want to have the choice between borrowing money and pay cash, then we do, is the interest rate compare interest rates on loans are charged to invest the money.
Be sure to deduct the interest, which is provided on income paid account.
For example, you can borrow to invest at 6% and to your tax rate is 4% and 25%, while the actual cost of borrowing is 4.5% and the actual rent is 3%. That would make the actual payment of the mother. On the other hand, if your income was 8%, the treasury of the profit after tax of 6%, while the actual cost of borrowing is 4.5%, the annual increase of 1.5% means the end of the day for loans .
You should discuss with your accountant or financial advisor, and you know what numbers.
I want to buy the old house to live there for a few years and puts it on, then when the market improves, sell, for a decent Proft. This will be enough to pay a large deposit on a new house, you leave a smaller mortgage and lower payments.
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