I just got off the phone with a client.
She tried to tell me she can now afford a House (to buy)
I told her she can't !!!
She can afford the Mortgage if taxes stay low But
If the taxes go up and also she needs to put money aside for BIG Repairs, new roof,furnace,washer ,dryer ETC.
She asked me why would i need to put money away for that, i told her it will be her responsibilty if she buys a house to fix things if needed.
Why do People think buying a house is as easy as renting???
You need to keep in mind all the other money besides mortgage.
2007-04-11 05:13:56 · 12 answers · asked by elite_women_rule_the_rock 6 in Entertainment & Music ➔ Polls & Surveys
no leogirl
i am her accountant and I know she can't afford it
2007-04-11 05:21:16 · update #1
bob its not my job
she got the wild idea she could afford it without thinking it through
as a friend and consultant i gave her the low down
2007-04-11 05:33:30 · update #2
too much work to actually think...
And you forget those who think renting is like living with Mommy & Daddy & then don't understand why the lights & phone turn off.
2007-04-11 05:22:19 · answer #1 · answered by Amethyst 6 · 1⤊ 0⤋
When you buy a new home, your payments stay the same (without an ARM) unless property taxes increase or you refinance. You typically do not need to make repairs the first few years. Also, you can still use a laundromat until you have saved up the money to purchase a washer and dryer. We did.
One hopes one's wages rise between the time of purchase and the time the first repairs are required. With a home you are building equity. By renting, you are not. The interest on passbook savings is not as good as typical rising property values. Buy a home for $60,000, sell it thirty years later for $120,000 or more. Yes, that may be what you shelled out in mortgage payments, but in many places rent and mortgage is roughly equal. And you can save money by taking the initiative to make your own repairs.
In 30 years, you sell, and now you're even. If you rent, what can you sell 30 years later to match home equity?
2007-04-11 12:24:34 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Bless your heart. They will never get it. If you are the Realtor you've done all you can do. Sell her the house and be done with it. If you are the Mortgage broker if the numbers are there, then process the loan. I learned a long time ago, people are going to do what they want. All you can do is give them the information. How they use it is their responsibility.
2007-04-11 12:19:29 · answer #3 · answered by Anonymous · 2⤊ 0⤋
ahhh...when you rent, repairs are free. People don't get it. I hope Joni B rots in hell for what she said in the Q of hers I answered. Have a good day poodle chick.
2007-04-11 12:17:47 · answer #4 · answered by happyday to you 7 · 1⤊ 0⤋
I know the feeling, but with me and my recent home. It was the idiots at the freaking title company giving me a hard time!
2007-04-11 12:19:23 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Ignorance is bliss
2007-04-11 12:16:13 · answer #6 · answered by ♥Sparkling♥Jules♥ 6 · 2⤊ 0⤋
Apparentally you didn't do your job correctly, you failed to give her a plausible explanation of the resposibilities and general knowledge of being a homeowner.....just my opinion...
2007-04-11 12:25:09 · answer #7 · answered by bobemac 7 · 0⤊ 1⤋
That's stupid! I thought everyone knew these things. Apparently not!
2007-04-11 12:19:43 · answer #8 · answered by Anonymous · 1⤊ 0⤋
think a little; some people are just ignorant
2007-04-11 12:17:11 · answer #9 · answered by Anonymous · 0⤊ 0⤋
sorry, billy rotted his brain, it's just smelly cabbage
2007-04-11 12:17:45 · answer #10 · answered by Uncle B2 7 · 1⤊ 0⤋