Whats a good size first home, Beds? Baths? And sqft? Whats a standard down payment?
First home down payment
Josiah Mitchell
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Isaac Perry
single?
1 bed 1 bath
usually a condo buy hold for a few years and sell at the top
use money for bigger home or refinance and buy another
Ryder Cooper
3 bed 2 bath, at least 1800 sqft, at least 10% down. If you can’t afford 10% down, focus on increasing your salary at work.
Liam Martinez
My bare minimum would be 2 bed 1 bath, preferrably with a basement. Starter homes are dead so you just have to hope you can get something that meets your endgame standards. 10-20% down is the norm, but if you're a first time buyer you can put as little as 3% down. Note that until you have paid off 20% of your mortgage you are charged a hefty premium for private mortgage insurance, so 20% is the recommended amount to put down.
Isaac Edwards
0% down
buy down the rate to as low as possible
4000sq ft or more
preferably built this century, maybe late 90s
Nicholas Perry
its a bit despair enducing seeing houses I want to buy for like 250k be listed at like 170k in 2019 in their price history
Angel Cruz
only some states require private mortgage insurance
Lucas Bennett
Focus on what you might be able to resell it for, the biggest jump in value will be if you take a 2 bed 1 bath and turn it into a 3 bed 2 bath, as you get more bedrooms and bathrooms the return on investment diminishes. Kitchen remodels are also a good return on investment as people spend a lot of time in the kitchen. Unfinished basement? Throwing up some floating walls, drywall and some carpet can also easily add value to the home.
Levi Reyes
Wait what?
Anthony Bell
I may be getting that mixed up with other types of loans actually
but generally it’s my understanding that PMI is not typically a huge expense per month, and I would say anons should not let it get in the way of getting a better value of home for fear of negligible PMI fees
Juan Taylor
1.8% of the house cost seems pretty non-negligible to me. Plus it means less money available to work towards that principle.
Lucas Johnson
This is a good answer. I will say as someone who bought a 3/2 1900 and then had 2 kids i now wish I went bigger. But we can make this last for a bit longer. If you’re planning on having 2+ children go 4-5 bd if you can afford it. Anything smaller than 3 is retarded though. A 3 can last you forever if you don’t have kids.
Levi Hall
this is Any Forums 99% of people here are never having kids and never getting a GF
no need for 3br+
Wyatt Walker
Minimum 2 beds so that you can use one bedroom as an office
Alexander Lee
Looking at buying a coop/condo. First time buyer. I've rented all my life but I wanna put down some roots and actually get something out of it instead of paying someone else to live in their house.
So my first problem is I live in NY, so I can't afford a condo. I can only afford coops. There are no condos less than $500k. Realistically I can only afford something in the $300k range if I were to put in the full 20% down payment.
I'm doing my searching on zillow. I got put in touch with 2 different real estate agents, first one was some black lady that didn't respond to my questions. And second was some russian guy that barely spoke english. Is it normal to cycle through the agents they assign until I find someone good? Like the people I've talked to so far don't seem to know much about the area or the market. These agents get a commission on the sale right? Should I tell zillow to connect me with someone else until I get an agent I like?
Elijah James
Do you think it'd be profitable to set up a boxabl community about 20/30 minutes away from a college and rent them out for $500 -$600 a month?
Leo Perry
what fresh hell is this?
Alexander Green
The "you vill live in ze pods" meme became too mainstream so they rebranded to "you vill live in ze box"
Ian Gonzalez
Just an upscale studio pod
Leo Ross
those are perfectly fine for a student
youtube.com
Caleb Taylor
I bet we start seeing company towns form with these
Jonathan Fisher
>That generator
lel