Food & Drink Home & Living Money Parenting Relationships Style & Beauty Travel Wellness Work/Life Finds MORE FROM HUFFPOST News Politics Entertainment Communities Opinion HuffPost Personal Videos ©2018 Oath Inc. All rights reserved. HuffPost News Buying A House Has Hidden Costs. Here Are 11 Big Ones. Money Your mortgage payment is only the beginning. By Geoff Williams 10/01/2018 03:09pm ET It can be creepy the first night you’ve moved into a new house: You’re in unfamiliar surroundings, and who knows what might be lurking in the shadows? Relax ― they’re probably unpacked boxes. What should really unnerve you are all the hidden costs that come with buying a house. For the unsuspecting homebuyer, that’s what can be truly frightening, because the costs aren’t just negotiated during the buying process. They keep coming long after you’ve moved in. So after you figure out … [Read more...] about Buying A House Has Hidden Costs. Here Are 11 Big Ones.
Who helps you buy a house
These tips can help you buy a home before it hits the market. (iStock) Buying a home is a lot like running a race: Once a listing goes live, buyers have to sprint off the starting block before throngs of other buyers start bidding. Talk about stressful! What if there were a way to buy a house before it's officially on the market? Well, there is—and it can help you snag your dream house long before your competition even knows it exists. “Making moves to get ahead of the general public when you’re the buyer is wise if you want to get the perfect house,” says real estate investor Steve Davis, founder of Real Wealth Academy, LLC. “All it taskes is a little ingenuity and some sleuthing, to find out which homes are going on the market before the listings go live, so that you’re ready to pounce.” More From Realtor.com 5 Common First-Time Home Buyer Mistakes You Won't Want to Make Yourself How to Buy a … [Read more...] about Buy a house before it hits the market with these tips
Talya Meyers Refinery29 Published 3:00 p.m. UTC Jul 1, 2018 My husband, Ken, proposed to me on an empty tract of land. It’s more romantic than it sounds. Ken is a professor at UC Santa Barbara, and the lot was where the university would be building new housing for professors. When we got engaged, we thought this was where we’d make our future home and raise our family. Santa Barbara, California is an expensive town and, in 2008, the housing market was bursting at the seams. For a professor and a grad student (me), university housing was our best bet. But when the real estate bubble burst in 2009, we had a once-in-a-lifetime opportunity — a chance to buy a house, however modest, in downtown Santa Barbara, rather than live in university housing. Our options were still pretty limited: We’d have to find a tiny fixer-upper, and even then, we’d have to do most of the work ourselves. But Ken had been a woodworker and contractor before going to … [Read more...] about My $1,600 wedding surprised family and friends but saved enough to help us buy a house
Let's just be clear: It can't be done. Millennials cannot save enough to buy a house by foregoing avocado toast. (Unless, of course, a particular millennial is ordering avocado toast every day, three meals a day, which even another millennial is likely to acknowledge is a bit excessive, not to mention tedious.) But let's say you're a fairly normal millennial with a reasonable penchant for superfoods, and you order two avocado toasts per week – eight per month – at a whopping $22 each. If you gave up every healthy smashed avocado sprinkled with creamy Feta, it would save you a mere $176 per month. At today's paltry interest rates, that's likely to net you just $11,000 in five years, which isn't enough for a car, much less a house. Of course, if you gave up smashed avocado permanently, you could, perhaps, have enough for a traditional down payment on a house in 20 to 50 years, depending on average home prices in your area and the rate of return you're able to earn on your … [Read more...] about Buying a house with avocado toast
Updated at 3:46 p.m. ET (MoneyWatch) Buying a house isn't a bad thing to do with your money, if you're ready to be a homeowner and you understand what you're getting into. But if you're justifying the purchase with the well-worn: "I just want to stop throwing away rent money," you are about to engage in a dumb money move that only sounds smart because no one has worked out the math. How could I possibly question the clear logic of this age-old wisdom? After all, you build up equity in a house. You don't build equity by renting, right? Absolutely. But to inject a tiny bit of reality into this dubious wisdom, let's look at the numbers. To make the comparison simple, let's say you bought a $240,000 home, putting $40,000 into a down payment. That leaves you with a $200,000 loan at 4.5 percent (assuming you have great credit and interest rates don't rise). Your mortgage payment on that loan would be $1,014. Again, just to make this simple, we'll assume that's roughly the same amount you'd … [Read more...] about Dumb moves that sound smart: Buying a house