i was wondering if i can buy a hose with 100 thousand dollars?

Question

my parents sold a property and made big money their giving each of my brothrer and sister 100 thousand each and me, i have a son thats two and im 6 months preg, can i buy a house.im only 21.

yea i meant a house not a hose ha

but i live in cali

Answer 1

You can buy a house and a hose with that money.
get a pre approved mortgage from the bank, use a large chunk of that money to pay on the principal so your monthly payments are low.
Amortize ( spread out) your mortgage for 20 years and relax because you will be further ahead at 21 than most people.
Of course your question was can you buy a hose for 100 thousand.
I will sell you mine for 20 000, and you can keep the rest!

Answer 2

It depends on how much house you want and you also have to keep in mind that you'll have to pay taxes, homeowners insurance, etc...

Around where I live you can get a decent little starter home for around $100k, but If you are dead set on having a place I suggest looking into foreclosures, there are some great deals out there. (but be careful because there are some great scams too)

Also while buying with straight cash sounds like a good idea, in the long run you'll probably be better off to put the money in the bank, use some of it for a down payment, and borrow the rest. That way you'll still have a large chunk of money for emergencies and to start an investment plan for your childrens' futures.

Answer 3

Not in California or the East Coast.

You can put a sizeable down payment on a house or buy one for cash in some areas of the Midwest, but it's hard to find one in desireable places for just $100,000 these days. The more cash you can put down on a house, the less the cost of the house in the long run. Try to avoid a 30-year mortgage, you can pay up to three times the cost of the house with interest over that time.

Congrats on the inheritance.

Answer 4

That depends on where you are & what kind of home you are looking for... .

In our area starter homes are $225,000 to $260,000 so $100,000 will not buy a house, in fact you would be hard pressed to find a mobile home on a rented lot for that much cash. On the other hand it is a healthy downpayment, so if you can work & have the cash flow to cover a mortgage payment you should do ok. Hopefully the father of your child & unborn baby is in the picture & working, so he can cover the monthly housing expenses.

Answer 5

You definitly won't find one in california for that price. If you're willing to move out of state you will be able to. I live in ohio and I'm looking at buying a home. The one I want costs 89,500. It's 4 bedroom, 2 bath. You just have to look around.

Answer 6

Lucky Duck. I wish someone would hand by 100grand. Move to Oklahoma and you can buy a big nice house for 100grand! Started houses w/ about 3 beds around here are about 60-70,000!

Answer 7

You could put a down payment on a house. But I don't think you will own the house for 1000 dollars. My home cost me 70,000 and it needs allot of work. I hope that you can find something for you and your family.

Answer 8

Yes, either pay for a house that costs 100k or use it as a down payment for a house that costs more and your monthly mortgage pmts should be pretty low depending on where you live.

Answer 9

In some arias if the country it will buy a nice "little" place.
you do not state where you are from, I will guess it won't for you but it will make a good down payment on something.
Your husbands income combined with yours should be good enough to make payments thoe.

Answer 10

Yea you could..maybe in the ghetto..but providing a roof over your childrens head is most important..so it doesnt matter where you live.

you could probly geta little 1 bedroom..or a studio...

im in CA too..on the central coast(santa barbara)..ive seen em so i know its possible..if not save..and rent a place!