Comments on: When Should I Buy A House? http://www.mapgirl.net/mfc/2007/01/30/when-should-i-buy-a-house/ Just tidbits about money and finance. Thu, 18 Mar 2010 12:31:18 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: sfgal http://www.mapgirl.net/mfc/2007/01/30/when-should-i-buy-a-house/comment-page-1/#comment-7175 sfgal Thu, 01 Feb 2007 07:39:38 +0000 http://www.mapgirl.net/mfc/2007/01/30/when-should-i-buy-a-house/#comment-7175 That's an interesting point of view. My aunt bought a condo in suburbia because her rent payments were equal to the condo mortgage. I was looking at buying in the bay area and splitting the cost with my mom but I think that's too risky. And I'm considering going for my MBA in a few years and I don't know if my mom can handle house projects all that well. That’s an interesting point of view. My aunt bought a condo in suburbia because her rent payments were equal to the condo mortgage.

I was looking at buying in the bay area and splitting the cost with my mom but I think that’s too risky. And I’m considering going for my MBA in a few years and I don’t know if my mom can handle house projects all that well.

]]> By: moominoid http://www.mapgirl.net/mfc/2007/01/30/when-should-i-buy-a-house/comment-page-1/#comment-7171 moominoid Thu, 01 Feb 2007 03:30:40 +0000 http://www.mapgirl.net/mfc/2007/01/30/when-should-i-buy-a-house/#comment-7171 Yeah, I can hardly handle my rented apartment :) Only one person in real life has ever suggested to me I should buy a house. The guy who hired me at my job in Australia. In retrospect it might have been a good deal but I had just arrived in the country and only recently left negative net worth and was only promised a job for 3 years. That was way too shaky for me. Yeah, I can hardly handle my rented apartment :) Only one person in real life has ever suggested to me I should buy a house. The guy who hired me at my job in Australia. In retrospect it might have been a good deal but I had just arrived in the country and only recently left negative net worth and was only promised a job for 3 years. That was way too shaky for me.

]]> By: Bro http://www.mapgirl.net/mfc/2007/01/30/when-should-i-buy-a-house/comment-page-1/#comment-7133 Bro Tue, 30 Jan 2007 20:16:07 +0000 http://www.mapgirl.net/mfc/2007/01/30/when-should-i-buy-a-house/#comment-7133 I was in a similar situation in 2002. My parents wanted me to buy something, and offered to help with the down payment. So we went to see a prebuilt town home community in Rockville. The agent (if you can call her that) said here is the house, here are some pictures, fill this out, we are going to have a drawing in 2 weeks. I asked, you are giving a house away? She said no, we have 150+ interested clients for a 25 unit release. Being young and didn't know any better, I then asked: How much are these homes? She said, starting in the mid 300's, if you want the stone face and other options, tops out in the low 400's. I left and said to my parents, that is insane, $300k + for a town house, who would be that nuts?? Fast forward a few years, the model I saw is on Zillow.com for $730k. I still believe it was a great decision on my part. Sure I'd have sold and made a bundle eventually, but the financial impact plus mental impact of a large mortgage payment would been greater than the monetary gains. I was in a similar situation in 2002. My parents wanted me to buy something, and offered to help with the down payment. So we went to see a prebuilt town home community in Rockville. The agent (if you can call her that) said here is the house, here are some pictures, fill this out, we are going to have a drawing in 2 weeks.
I asked, you are giving a house away? She said no, we have 150+ interested clients for a 25 unit release.
Being young and didn’t know any better, I then asked: How much are these homes? She said, starting in the mid 300’s, if you want the stone face and other options, tops out in the low 400’s. I left and said to my parents, that is insane, $300k + for a town house, who would be that nuts??

Fast forward a few years, the model I saw is on Zillow.com for $730k.

I still believe it was a great decision on my part. Sure I’d have sold and made a bundle eventually, but the financial impact plus mental impact of a large mortgage payment would been greater than the monetary gains.

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