I hate the type of property that available for $150,000 to $250,000. Its all garbage !
2006-07-05 00:43:18 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I live in Tucson, Arizona !
2006-07-05 00:43:41 · update #1
No real estate isn't for everyone. I don't blame you I feel the same way. Its good to be the way you are you won't rush into anything just to keep up with the Joneses
2006-07-05 00:46:58 · answer #1 · answered by nastaany1 7 · 0⤊ 0⤋
I've been on both sides of the fence. Rented and owned and am renting again. I made a nice profit on the sale of my house, but as a single person, at my age, home ownership in order to build equity just doesn't make financial sense. If I were 20 years younger, I'd buy a condo or I'd buy a house if I had children, but the work and costs associated with the proper maintenance of a big house ... no thanks...never again.
I now like to travel a lot and spend time overseas and don't like to be tied down.
By the way, I totally agree with the crappy houses that are for sale in that price range. Cheap S****. No value for the money.
2006-07-05 08:58:30 · answer #2 · answered by scubalady01 5 · 0⤊ 0⤋
As with all things the idea of buying real estate is like buying stock.
If you buy it without knowing how and why to buy it .. u may as well go to vegas and try your luck.
real estate value is determined by comparable sales; so the asking value that most houses list for may not be the price that houses are selling for... (i.e. if I list a house to sell for $5 M dollars but no one buys it, it's comparable value to sell may not be $5M dollars)
When an appraiser (or a good realtor) determines value of a home they look at the comparable sales of homes to establish the actual sales value of that home.
Now if holding a home that appreciates in value - bcause you bought it at comp value as opposed to sales value - is not worth holding for 5 - 7 yrs (and other comparbale sales have increased the value of your home) then Nope real estate is not for you. :)
2006-07-05 10:58:57 · answer #3 · answered by Clint P 2 · 0⤊ 0⤋
just learn how to beat people up on price turn that 5-7 years into 5-7 minutes. Get Negotiating young grasshopper.
2006-07-11 23:41:58 · answer #4 · answered by useless information 3 · 0⤊ 0⤋
Try living on long island, I paid 370,000 on a ranch. That being said I love my house. It's mine and I can change whatever I want. I love to play in the garden which I wouldn't have spent the money on if I was renting.
2006-07-05 07:57:52 · answer #5 · answered by Farrah 3 · 0⤊ 0⤋
if you know that you cannot afford something that you can rent for cheaper, then you're on the right track.
however, keep in mind that the money you pay as rent is money you will NEVER get back. basically, you're burning your money by renting. when you move out, you will get nothing back.
when you sell your home, typically you make your money back that you invested in the property.
whatever works for you is best, though!
i agree, the price of decent homes anymore is ridiculous.
2006-07-05 17:10:02 · answer #6 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋
Real estate is only for the rich.
2006-07-05 07:47:46 · answer #7 · answered by J.SWAMY I ఇ జ స్వామి 7 · 0⤊ 0⤋
well this is the most secure way of making wealth
2006-07-05 08:36:38 · answer #8 · answered by Anonymous · 0⤊ 0⤋