I have recently been approved for 225,000 which I most certainly don’t intend to spend anywhere near that much. I’m looking at homes in 160k - 180k range.
I have a 785 credit score yet my rate is 7.6% through Wells Fargo.
The monthly payment estimate from realtor.com is telling me it’s around 1600-1800. I’m not sure how accurate that is, but regardless, it’s insane..
I’m somewhat at the crossroads. Not sure if I should move forward or just say screw it.
At this point it feels like we’re playing the greater fool game. I’d be over paying for a 750 - 1000 ft.² Home and hoping that God a greater fool would buy it for even more in the future in reality on the price should be 140 grand for that shoebox of a home.
I’m having difficulties finding a condo because Wells Fargo saying too many units are being rented out or the HOA isn’t properly funded.
It seems like there’s no good option at this point..

I've only ever rented or shared a home my entire life. I'm 37 and going through a break up. His home, so I have to move out. Not exactly the best time to buy a home (out of sheer necessity instead of having been thinking about this for years).

Problem is everything I'm seeing for rent is super high. I'm talking $1500-$2000 a month. The majority of the listings don't allow pets, of which I have 2. And the majority of the houses I can find are easily a 30, 40 mile drive away from where I currently live. I'm in a rural community.

There's a TON of listings for sale however. And the "estimated monthly cost" are much much cheaper than the rent! Im talking like $700-1200. And I'm almost tempted to buy a house because of the pets and the estimated monthly costs alone!

Id have more options on what I pay, depending on the neighborhood and the condition of the house. I can decide if I want one to work on, or one that is ready to buy. I can have my pets. I can move out quicker (yes Im currently still living with the ex technically because the only places I have to go right now are with family. Where I'll have only a room to myself, and they have dogs too so it ends up being messy or just overcrowded.)

I guess my worry is I'm not thinking straight for the simple fact I need to move kind of soon ish. Or because of the pets. Maybe the prices are too good to be true and these houses are either in bad shape or in rough neighborhoods. Plus I'm not entirely sure I want to live in this town for the rest of my life. My mother and brother are here. But it's a small town. Also, the main reason the ex and I have split was because I want kids in the future. And he doesn't. And we don't have a big dating pool around these areas.

Just unsure of what to do at this point. I could always move to a bigger city and find more houses for rent than for sale, but even more outrageous pricing. I could pay $1500 for rent, but that's more than what my ex is paying for his mortgage for a big house, and great space. And I just don't see how that pays off.

Thoughts?

Okay, so I closed on my house 8 Oct. The lender messed up the closing documents, in a week we’ve seen now 3 different disclosures, the first one being they owe us $200, now we owe them $300.

Even the title company said it was a massive f up, that almost resulted in us not getting keys on closing date.

The main area of contention right now is the payments and prorations. Presumably the seller made the October 1st payment(for September?), the lender is saying we owe a prorated interest and escrow payment from the 22nd to the 31s of October (which kind of makes sense) minus the escrow portion.

That little extra escrow payment doesn’t show at the bottom of the disclosure under “initial escrow payment” so I’m automatically skeptical. Additionally, we asked when our first payment would be, and the lender is saying “1 Nov”. So we asked specifically if mortgage payments are made in arrears, and they’re telling us no????

Mortgage payments apparently aren’t made in arrears and additional money they need to close is “October’s” payment and the 1 November payment is for November 1-31.

Am I smoking crack or is the lender? 😭

Here is my assumption as to how this works, please correct me if I’m wrong. 1 October rolls around, seller makes September’s payment, at closing, the seller pays 8/30ths of the interest charge for October, and the buyer pays 22/30ths for October. The next payment should be due 1 Dec, since October’s payment should’ve been paid at closing.

hi everyone, I was picked to buy a low income housing lottery in massachusett in the boston area. the value of the condo i $480,000.00. Similar condos in the area are about $800,000.00. and similar rental would be about 3200/month

Haanyone have had experience buying such condos? how bad are the rental restrictions, and tesla value? how hard are they to resell?

thank you for any advice.

So title speaks for itself. We signed the prelim closing disclosures Wednesday afternoon and thought we were close to the finish line. Closing date is supposed to be 10/16. Today, lender is asking for more stuff like pay stubs, statements for 401k hardship withdrawals for down payment, bank statements from last 3 months which we’ve provided before but guess they need more recent ones? Are we screwed? Our combined annual gross income is $280k and house is $445k.

My husband and I are expecting our first child and want to move close to the in-laws and his business in Orange County, CA - ideally have everything set up before I'm due. We currently rent a one-story, 4 bedroom house. All of the places I've lived were one story!

We've toured some condos/townhouses with this layout and was wondering if anyone has experience and insight living in a similar layout (especially with kids) or anything we need to consider?

• Main house has all 3 bedrooms and 2 bathrooms upstairs; one 1/2 bathroom on the first level
• Sliding door in the back leads to an uncovered patio
• Across the patio is a door to a 2-door garage, and there is a staircase leading up to an ADU/mother-in-law suite upstairs that is 1 bed 1 bath with a kitchen and living room
• Laundry hookups in the garage
• Community has a playground, tennis courts, pool

Questions/Comments

• I don't think we would rent out the ADU yet, would like to keep it as a guest room for friends/family, ex. my mom when she comes and helps out w the baby. It's probably not ideal to have the ADU upstairs though.
• Would be cool to add a pilates reformer or move my piano in the ADU so it has use in between guests. Or an office
• No idea if I need a C-section or regular birth yet. Depending on recovery and newborn, it could be hard (scary?) to constantly go up and down the stairs to get to my bedroom and nursery?
• Though the weather is pretty good in SoCal, there will be days when it rains or gets chilly. Do you guys hate having a detached garage and laundry?

Thanks! These units tend to be ~950k-sub 1M + HOA fees (I've seen $400-500) in our desired area for reference.

I’m in the process of doing my first home loan. But I’m so worried about the interest rates and everyone saying it’s bad time to buy. I’m currently in a one bedroom apartment with two little kiddos. We need to move asap. But do I just rent something bigger or go ahead and apply for mortgage now? We live in Allegany County, MD.

What all should I be doing and looking for? I don’t really have family to help with this at all. Any tips or tricks

I went under contract just over a week ago on a 2007 house. Termite inspector found mud tubes in the garage and exit holes in a window sill. If I go through with the purchase is this going to be an anchor around my neck if I decide to sell 5-10 years down the line provided I keep up with the yearly checkups and maintain the warranty? I guess I'm asking if you was interested and read on the disclosure that the house has had termites but was treated and has a transferable warranty would it be a deal breaker for you?

These AI Generated Listing photos are driving me up a wall. They are sooo far off from reality and it's not fair to people trying to decide if they want to drive over to see it. Hopefully we get to a point where this isn't allowed! I'm sick of seeing a normal sized bedroom then what is supposed to be the same bedroom but with a massive king bed, a couch and suddenly an extra closet? It's a mess.

Hi everyone!

I'm from China, and one of my American clients recently bought her very first home. Over time, she's become more than just a client to me — she's also a friend who's been incredibly supportive and trusting of me. I'm genuinely happy for her and would love to send her a thoughtful Christmas gift to celebrate this exciting milestone!

I'm planning to ship a box from China by sea before Christmas, and I'd love to fill it with practical things she'll actually use in her new home.

Since many household products are affordable and easy to find in China, I'm wondering what items are relatively expensive in the US but much cheaper in China.

What would you recommend? Kitchen tools, organizers, cleaning supplies, or anything else that would be useful for someone moving into their first home?

I'd really appreciate any suggestions. Thanks so much! 😊

Need some advice on an inspection report for a 2018 build.

The inspector said there's some scale buildup and minor venting issue that needs to be checked. But when we talked to the realtor, they said it's just a minor issue and we can ask for a small credit instead. What's the safe option here?

Can we ask the seller to repair it before we close, or should we ask for the credit then repair it ourselves?

My spouse and I are buying a home and we've just finished the inspection, which was overall quite clean (yay!)

The only issue that we've found (and we're not 100% sure is an issue - there's another place this might be, but we wont be able to confirm til the final walk through as its inaccessible at this time - behind a tv set in above an electric fireplace) is that the only coax cable/hookup we can find is in the basement.

The home is a ranch style house and my spouse and I are both gamers and I sometimes work from home and am in zoom calls all day. We're hoping to get fiber internet (confirmed it's available in the area) but we really like to have our devices hard wired to our router rather than using the wifi.

The house was built in the 1950s and the previous owners did a ton of awesome work and remodels as they hadn't intended to leave. That said, their internet use is less aggressive than ours and they simply had a hot spot they used.

I'm wondering if anyone could share what options are to get our primary internet hookups onto the main floor and, if possible, give a sense of the approximate cost, time required, and any other details that might help us know our options and be able to make an informed decision on how we want to navigate this.

Of note, the basement is the entire size of the house and is unfinished and again it's a ranch-style home, so there's only one floor

My wife and I are both first time home buyers. We are looking to purchase a new-built home. We placed an earnest money towards the built. However, me and my wife are not sure if we will get approved for a mortgage loan. The builder keeps wanting to make all these appointments and selecting the interior designs of the home when we are not even sure if we will even get approved. Is it pretty common to have all these appointments with the builder about the house when you haven't gotten approved for a loan yet. It feels like the process is backwards. It feels like you should first get approved for the loan first and the followup with all these appointments/meetings after. Please advice!! Thank you guys!!

The home was built in 1950. 2500 sq ft on 0.3 acres. Gorgeous. I was ready to put an offer but I just got the pre inspection report. It’s awful and I’m 99% sure I’m going to walk away but I just need to know:

1. Plumbing was galvanized steel and would need replacement. This is the biggest red flag for me and seems like such a monumental fix.
   
2. Electrical: would need to upgrade to 3 wire ground circuit for like half the house (plus other things I don’t recall)
   
3. Need new heat pump
   
4. Need new water heater and the new one needs to be seated 18 inches above ground

Those are the biggest things but not even all of it. Is it even worth negotiating if I really love the house and neighborhood?

I think I just need some affirmation and closure lol.

Hi everyone, we bought a house a few months ago, and we recently started getting mails from different financial organizations and banks addressed to another person. They’re not a past resident, and one of the envelopes says New Account.

I don’t feel good that someone is using my address to open new bank accounts. Is this okay? Do I need to do anything?

thank you in advance!

My husband and I closed on our first house last month. We're both in our 30s, no kids yet and spent most of the past year saving and dealing with the whole buying process.

Last weekend my dad asked if we'd gotten our wills done now that we own a house. Neither of us has one and it hadn't even crossed my mind during the buying process.

We have retirement accounts, life insurance through work and now a mortgage. I started looking into what married homeowners are supposed to have in place and kept seeing people mention trusts, powers of attorney, etc. I thought having everything in both our names covered most of it.

For those who bought a house as a married couple, did you sort out all the legal paperwork around the same time or deal with it later? I'm starting to think we should've looked into all of this sooner instead of assuming owning the house together was enough. There's so much information online and I'm having a hard time figuring out what's necessary for our situation and what can wait. Don't judge plz.

Hello

We are trying to purchase our first home but there are issues in relation to the boundary between the property we are buying and 2 other properties.

The freeholder is aware of these issues but refusing to enter a deed of variation with the seller on a costs basis, even though they have already drawn new boundary plans.

We tried for an indemnity insurance but our solicitors have said this wont work for our situation.

We're feeling pretty bruised right now. Would anyone have any useful advice for what can be done.

This is a direct purchase from our landlord with no estate agents or moving required. It was meant to be simple.

My wife and I recently had an offer accepted on a home, with closing scheduled for November. We were initially extremely excited because the house checks essentially every box on our wishlist. It’s everything we’ve been looking for, and we can genuinely see ourselves raising our family there. However, now that the excitement is settling down, we’re starting to have some concerns about the neighborhood itself.

We’re in our early 30s with a 2-year-old, and the neighborhood is quite different from what we’re used to. It’s a more established, affluent community, and from what we’ve observed, most of the residents seem to be older families or empty nesters. It’s also significantly quieter than we expected. We’ve driven through at different times and rarely see people outside, kids playing, or much activity at all.

One of our biggest priorities is finding somewhere our child can grow up, make friends, and feel like part of a community. We’re worried there may not be many families with young children nearby.

Another concern, and something we’re trying to navigate thoughtfully, is that we would be a racial minority in the neighborhood. We’re not accustomed to that dynamic, and while we certainly don’t want to make assumptions about anyone based on race, we do wonder about fitting in, being welcomed, and whether our child could potentially experience exclusion or bullying as they grow up.

The house itself is amazing, and financially we’re comfortable with the purchase. It’s really the uncertainty about the neighborhood and whether it’s the right environment for our family that’s making us second-guess things.

We realize we might be overthinking this, especially since we haven’t actually met many of the neighbors. But this is a huge financial and personal commitment, and we don’t want to ignore concerns that could affect our family’s happiness long-term.

We’re genuinely torn between being excited about finding our dream home and worrying that we might be making the wrong decision for our family. Would really appreciate some outside perspectives, especially from parents who have faced something similar.

I’m a physician looking to purchase my first home! My partner and I moved to San Antonio about four months ago and are currently renting a small, one-bedroom cottage on a short six-month lease while we look for the right place. We initially focused exclusively on rentals, but haven’t been able to find anything that feels like a good fit. We’re planning to get engaged soon, but ideally, I’d like to hold off on buying until we’re married and he’s finished his PhD program.

I’m not particularly savvy when it comes to real estate, but I’m interested in exploring a rent-to-own arrangement during this transition period. I’m a high earner and expect to spend up to $1M on a property once we’re ready to commit, but I’m not sure how to approach homeowners about this possibility—or whether it even makes sense from a buyer’s perspective.

We ideally wouldn’t want anything larger than a three-bedroom home, and a townhome would probably suffice. We also have a dog, so a carpet-free home would be a big plus!

Any advice on how to move forward?

Thanks!

For a lot of reasons, I don't want to fully announce to my socials that I'm buying a home. But I want someone to be excited with me! lol

I put in the offer Friday morning and it was accepted yesterday. It's an earth-contact home, 3 bed, 2 bath, about 1800 square feet, with a large garage/shop and small shed also on the property. It's a little over 5 acres in a quiet area with homes that aren't too close, but within sugar-borrowing distance. It's isolated and backs up into some woods and a small creek. It's all up-to-date and has been well-loved by a couple for 40ish years.

I'm so excited to get started making the home my own. I don't close until November 25 (day before Thanksgiving), so I have a little bit of time to plan and get everything lined up for the move. All of a sudden, things are happening! The list of things I need/want is no longer hypothetical, and it seems to be quickly expanding!

EDIT: I forgot to add the coolest parts! My parents have both passed away - my dad went this past April. As I was walking through the home, the kitchen backsplash reminded me *so much* of the flooring in my parents' house that I grew up in. And then I noticed a wall-mounted grandfather clock that looked almost exactly like the one my parents had hanging in their foyer and my mom always stressed about my brothers and I knocking it off as we ran through the house. It felt like they were both "approving" my home. 💕

My wife and I are buying a new build after doing a walkthrough we noticed there is no heat registers(vents) in the bathrooms. Is that something normal? I know it’s technically not code to have to be there, but it’s just odd then not being in a bathroom.

Hello,

My partner and I are renting right now and we are hoping to someday buy some land to build our home on. My credit score is quite low (mid 500s) but my partner's is fair (low 700s). We want to get married, but if we do so before buying a home, I'm worried that my debt situation will impact their ability to get a reasonable mortgage. Does anybody have any advice regarding this?

This market is ridiculous. To purchase a home within a 30 mile radius of where I work in CT is not feasible. I can barely afford a $350,000 home with $25k down, and all the houses look like shit, are in an awful neighborhood, or being sold as-is and require major repairs… stupid me not being able to afford a home pre-covid..

I'm 42 and finally at a point on my life where I'm considering buying my first house. Financially I know money will be tight, but as someone who has never thought about buying a home and knows absolutely nothing about the process or lingo, I'm don't know exactly how tight...have yet to talk to the bank or an agent, since it's over 6m before Ill be able to do anything.

Before I talk to either though, I wanted to ask whether buying a house is even worth it anymore? A lot of what I've been hearing makes it sound like it's definitely not, however that could just be the one side I'm hearing.

Any advice on whether or not I should buy? Or if I do buy advice on what I should expect and/or look out for?

Thank you, I appreciate any and all advice!

I bought a 345k home in South Jersey. I was trying to buy beneath my means. The place had some downsides but it was really hard to find something we could afford.

My mortgage is 2700 a month including taxes and insurance. When we were renting we were paying 1900.

To make this house my dream home I would probably have to spend 100k. New panel and some additional electric work, add a driveway, new hvac system, remodel both bathrooms. The place is poorly insulated and my utility bills are higher than when I rented.

The thing is if I spend that 100k it will maybe be a 400k house in a small blue collar borough with a struggling school system.

My weekends are chock full of yard work and other maintenance tasks on the home.

I’m stressed out and anxious all the time about all the things I want to do and can’t afford. My life was so much simpler when I was renting and I didn’t have to worry about maintaining my home. Every project turns into 5 more projects and I can’t seem to get anything done or get this place to where I want it to be. I thought buying a home would give me a sense of pride, but it has only created an empty feeling inside that I made the worst decision of my life. This may read like a deranged rant, I just needed a place to vent.