Hi! I am in the process of building a home with the idea of moving in when I retire (in 8 years)I am currently renting a house with my family near where I work.The building group is offering a couple interior/appliance packages. There is a 45k difference between the basic and premium package. If I were to do the premium adding myself it would be 60-65kThe premium package includes: hardwood flooring, better appliances, fixtures and built in closetsThe house itself is about 300k/2500sqft which I will buy outright.Since I would rent out the property for the next 7 years or so, my questions is this: Should I get the premium package now (savings of 15-20k) also probably making it easier to rent out or just plan to gut the place and have a fresh upgrade in 8 years time, when I can enjoy the changes when they are new.I am also considering the opportunity cost of that money in conservative investments.What is the financially sound perspective to this situation? Thanks in advance!!!! Grateful for any sage advice!
Hi redditors. Need help for a family friend in Big Bear, CA.Background: They rent a room in a house from the legal tenant. Never signed a lease, pays cash for the room. They moved in there in January. They have panic attacks. Had a breakdown this weekend and is currently in the hospital. Maybe be released tomorrow. Lease holder called them in the hospital and told them they need to be out by tomorrow or all stuff gets thrown out. Owner doesn’t know that lease holder rents rooms.What are the options here? They’re paid up until the end of July. They have a reptile, but have been told no one is allowed in the house to feed it. Plan is to pack up before the end of the month and move home (far away from the area). Hospital is trying to get a social worker involved, but is this legal?I’m not sure what the lease holder’s side of this story is, so there may be something we’re not being told by our friend.All help appreciated. I’m 2,500 miles away so I’m not much help. 😦
So I closed on a house yesterday. Yay us! Anyways after signing and shaking hands with the beautiful couple who owned the house for 46 years, they offered us the opportunity to purchase their riding lawnmower. It was a relief because originally negotiations were ruff. Agreed to come over today and check it out. The owner was extremely nice, showed us around, answered my questions about the garden and it was going really well, until he asked if wanted to buy the range and refrigerator. It had been a while since we looked over the contract so I made up an excuse about not wanting it, AKA I chickened out about mentioning that it was probably included in the contract. Ugh, now I feel like an asshole for bringing it up to my agent. Should I have let it go, did I just spit on this mans hospitality?
Buying home with spouse and have a smallish debt that they don’t know about, I would prefer it stay that way while I’m paying it off. Can’t afford to pay it in full before applying for loan. Will they find out about it during the application process? A couple notes: we both have good credit and income and will definitely qualify for the loan; it didn’t come up when we bought a vehicle together. I realize lenders will see it but only care about what spouse will see.
There was a house I was watching and it had an auction date of last week. When I went in to check on details it said it was cancelled. What are the most common reasons this might happen?
Basically I’m just looking for some advice – I’ve gotten a mixed bag from internet searches and reddit digging.So we are under contract pending inspection – I used a pre-approval from a big national lender, albeit with a local office, to get to this point. I’m not sure I necessarily want to go with this lender, but I guess I’m not sure what my options are. Closing is August 20th – I’ve been contacting other potential lenders today, ones that I had done some preliminary research on before the contract. I’m just not sure if we have enough time to change lenders at this point, but I was having a hard time getting much information out of lenders before having the actual property and contract to work with. I had also read a couple things that mentioned just getting one pre-app, going in with the offer, and them searching for a final lender. Is my timeline messed up? Is now when I should be doing lender comparisons or did I miss the boat?Thanks in advance.
I’ve interviewed and even gone to showings with several agents. It hasn’t worked well.One problem is that on Zillow there are tons and tons of agents with reviews, but they are all 5 star. Every single review is 5 star! Plus there are only 5 to 10 that have a large number of reviews, and the rest have barely any, even as low as 1 or 0.Is there another review site I don’t know about? Is there some other magic trick to weeding the wheat from the chaff ahead of time to avoid dead end interviews or high pressure/low information viewings?I am totally down to do my homework, but there has to be some way to funnel out some of the candidates.I’m overwhelmed. What can I do?
Good time to buy real estate in California markets? I know very little about real estate but wondering if I should seriously start considering investing if prices are falling.https://www.wsj.com/articles/u-s-existing-home-sales-decreased-1-7-in-june-11563890555?mod=mhp““Prices have dropped in Silicon Valley and sellers just aren’t used to the concept that [prices] can go down,” said Ken DeLeon, founder of DeLeon Realty in Palo Alto, Calif. “There’s just this malaise buyers had of, ‘I feel like it’s gonna drop further.’”The slowdown in the West Coast markets now spans all price points, including starter homes, which had been the tightest segment of the market. In San Jose, inventory for homes in the bottom-third price tier nearly doubled in June compared with a year earlier, while prices dropped 3.8%, according to Redfin.Michelle Englert, a Bay Area real-estate agent, hosted an open house in a San Jose condo on June 21. The asking price was $770,000, well below what other condos in the complex were priced at.“We priced this aggressively low because there are two other units in this building that have been sitting for 30 plus days,” said Ms. Englert, who has worked in the area for nearly 20 years. “We just wanted to shotgun sale it and see what happens.”Ms. Englert said she has noticed buyer fatigue over the past year and thinks the area might be tapped out. “People are looking but not pulling triggers,” she said.