Our rent is about 600$ a month and our lease is up in march,
2006-09-21 14:39:23 · 16 answers · asked by mplimp2000 2 in Family & Relationships ➔ Marriage & Divorce
Some additonal informaton. I am eligible for the va Home loan also im working in iraq as a contrator and make more then enough money to finace a house or condo
2006-09-21 15:16:28 · update #1
The lease renewal always results in an increased rent. If for now your rent is $600 a month, your april rent (after the lease renewal) will be higher. And then it will increase again and again with each new lease renewal.
On a contrary, a typical mortgage payments never increase. You pay about $1000 now, and that is exactly what you are going to pay 30 years from now. Even when all the other prices and salaries will be different (read: way, way higher than current), you're still will be paying year 2006 price.
Whe you are ready to retire, you sell your house and you make some money back on the sale.
2006-09-21 15:13:15 · answer #1 · answered by OC 7 · 0⤊ 0⤋
Well, buying a house or condo is a big investment and u have to make sure that you're both up for it. Just tell her to imagine the money that is going to the rent could be going towards a mortgage, instead of a vacuum where u don't see results. U can do anything u want with a home u own (except for condos in some cases). U can upgrade it or even rent the home in the future and if the value in the area goes up, then u can either sell it for profit or continue to live in it. Also, u don't have to pay much more for a mortgage vs paying for rent .
So which would she rather like? Monthy payments that goes towards an investment, something u can call yours or monthly payments that go towards making the landlords richer?
P.S. When u do decide to buy a home, make sure u get a fixed rate (20 yrs or 30 yrs fixed) instead of variable rate.
2006-09-21 15:09:48 · answer #2 · answered by cheetah7 6 · 0⤊ 0⤋
A few things to consider:
1. The real estate market is plummeting. Closer to March things might be more stable again but you probably shouldn't buy right now
2. Why does the majority of the house work? More space=more stuff=more cleaning. If most of it falls on her I could understand why she wouldn't want one
3. Seriously consider your financial situation. $600 a month for rent isn't bad, and you are going to have a hell of a time finding a mortgage, including taxes, for that amount. There is also maintenance, larger utility bills (utilities tend to be bulk rate in apartment complexes) etc.
A house really isn't a sound investment unless it is an income property. But to answer your question, find out what her real hesitation is and address that directly.
2006-09-21 14:48:53 · answer #3 · answered by Kikka 3 · 0⤊ 0⤋
How about the fact that she good have a house built the way she wanted. Maybe she has some fears that she is not sharing with you cause i can not imigine that renting is better than buying your own house. Maybe you can buy the house and let her pay the rent.
2006-09-21 14:42:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
My spouse and that i've got been interior the comparable subject back in August. We ended up paying for because of the fact we had some undesirable stories renting interior the previous. the homestead we've been renting is what we've been given the possibility to purchase. we adore the homestead, region and pals and we've not got a plan to circulate each time quickly. on your case, because of the fact you have no longer have been given 20% to place down, you will ought to pay PMI coverage. the fee varies on the fee of the homestead. In our case, the homestead grew to become into $155K and the PMI is $a hundred and fifty. PMI drops off after some years or while the homestead reaches 20% fairness. word, we additionally stay in PA. on your case, given the present marketplace, might you think of you will have the means to interrupt even or make a earnings beforehand of shifting in 2-3 years? If confident, the i might say choose for it, if no longer, then no. in case you're a usual time homestead purchaser, you're able to do a fannie mae one hundred own loan. This covers one hundred% of the indoors maximum loan. because of the fact your business enterprise might pay last, you will have extremely no money out. then you extremely ought to apply that money to do any advancements or you are able to constantly placed it down tocontinual the many times used critical down.
2016-10-15 06:58:07 · answer #5 · answered by leong 4 · 0⤊ 0⤋
Tell her that it is much better to buy because it will be yours. You can buy a house and make a payment of about what you are now paying for rent.
2006-09-21 14:41:47 · answer #6 · answered by ♥dream_angel♥ 6 · 0⤊ 0⤋
You need to convince yourself first. In this area, $600 a month is cheap.
Go through the costs and the writeoffs. Also consider things that you may not have had to pay for before such as heat, electric, etc.
If the figures are there, then you have some ammunition.
2006-09-21 14:43:14 · answer #7 · answered by ibirish55 1 · 0⤊ 0⤋
make a list explaining the pros and cons of each. Then find a place and do the math, and figure out how much you'd save or how much you have spent on renting. If you have the facts and figures, talk it out, and maybe she'll see your way. hell maybe for an anniversary present or Christmas present buy her a house!
2006-09-21 14:41:52 · answer #8 · answered by Hannah 5 · 0⤊ 0⤋
Have her contact me. I am a Realtor and would be happy to educate her on the benefits of homeownership versus renting. It's a Buyers market now so, this is definately the time to buy!
2006-09-21 14:52:23 · answer #9 · answered by Cashmere621 2 · 0⤊ 0⤋
look her straight in the eyes and ask her how many homes you are willing to pay off for someone else and still not have a place of your own... It is always cheaper in the long run to buy your own place than it is to pay something off for someone else
2006-09-21 14:43:52 · answer #10 · answered by poppa bear 5 · 0⤊ 0⤋