Home Buying & Real Estate Thread

Tf were they thinking smh

I am so over contractors

Been doing hella renovations. Can’t wait to be done with them. Just got a new roof last week. Gonna paint the house next. Need to remodel my master bathroom and spice up my landscaping and after that I think I’m done with my crib. Live here another 11 years til my kids are grown and I’m deuces 😂
 
anyone have any insight, experience or advice for the greater austin area? were looking to try to buy soon
 
sole searchin said:
Texas property tax ain’t no joke
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This! Had a co-worker leave our DC office for our Houston office. They thought they were going to get a nice McMansion. With property tax, they bought a smaller house in Richmond Texas and the office was off Allen Parkway!
 
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What does this mean?

“This community does not offer a broker co-op commission.”

I’m looking at the website for some new build and can’t figure it out. Edit, I want to check it out but have my buyers agent with me since that seems to be the smart advise.
 
Honest question how are people affording these houses?

My wife and I just got pre-approved for $500k and anything in that budget seems like we are guaranteed to be under in no time.

If these 1200 sq foot homes that are $500k now ever go up to $600k+ I just don't see how the entire country is not doomed.

How long until 50% of us all all homeless?
 
When we got approved we saw the max of our pre approval as pretty unrealistic. It’s what the bank sees you can afford at the most extreme. It doesn’t allow for a realistic lifestyle.. I believe we bought around $150k less than we were approved for at the time.

I don’t know how people get approved for a max of say $450k and buy at $450k.
 
I didn’t spend close the the max either. We just bought something decent to get something. It’s not our dream home or anything and won’t be here longer than a few more years. It’s the same price our rent was on a 15 year mortgage.
 
Yeah, I saw what was going on and just said we need to buy a house now before we get pushed out to the suburbs.
 
noshoegame said:
Honest question how are people affording these houses?

My wife and I just got pre-approved for $500k and anything in that budget seems like we are guaranteed to be under in no time.

If these 1200 sq foot homes that are $500k now ever go up to $600k+ I just don't see how the entire country is not doomed.

How long until 50% of us all all homeless?
Click to expand...

Well the major cities have major money due to tech, real estate, finance, etc

With more people than ever attending grad school and EARNING more than ever - the math adds up
 
noshoegame said:
Honest question how are people affording these houses?

My wife and I just got pre-approved for $500k and anything in that budget seems like we are guaranteed to be under in no time.

If these 1200 sq foot homes that are $500k now ever go up to $600k+ I just don't see how the entire country is not doomed.

How long until 50% of us all all homeless?
Click to expand...
https://www.ally.com/do-it-right/home/jumbo-loan-limits/
Govt-backed loan limits increased across the board. Billions of new dollars coming from institutional buyers. The narrative of younger generations preferring to rent vs. buy.

Something(s) has to change whether it be policy, whats built, consumer mindset regarding the cost of homeownership and being house poor…
 
noshoegame said:
Honest question how are people affording these houses?

My wife and I just got pre-approved for $500k and anything in that budget seems like we are guaranteed to be under in no time.

If these 1200 sq foot homes that are $500k now ever go up to $600k+ I just don't see how the entire country is not doomed.

How long until 50% of us all all homeless?
Click to expand...
If it weren't for my Disabled Vet Status, low rates and covid uncertainty back in Spring 2020, wife and I weren't getting our house in DC.

Seller would have gotten atleast $100k more than we paid if he waited another month.
 
I bought my home in 2017, even tho i was recently married i got the loan by myself. I qualified for 400k.

I didnt wana qualify for a 600k and not be able to afford it when my wife decides she wants to stay home with the kids.
 
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