Friday, April 30, 2010

What would you do help i need your advice?

I moved 30 minutes away from home san francisco, and i really miss it i feel depressed.





However where i live is really luxurious, and i would like that same look when i move back to sf. With a pool, jacuzzi, gym, and home theater, security etc.





1. I seen a 2br/2b condo leasing for $3000 a month would you go for it if you made $6000 a month?





or





2. would you just buy it at 520k to buy?What would you do help i need your advice?
The standard rule of thumb is that you should never spend more than 1/3 of your monthly gross income on your housing. If you are grossing $6K, then you shouldn't pay more than $2K for your rent or mortgage payment.





I sincerely doubt you would qualify for the mortgage, even with your income. My husband and I make about that combined; our mortgage is about $2,100 and we're struggling. Granted, we have kids and aging parents that we are taking care of that suck up a lot of our monthly income, but at your age you should be saving as much as possible.





If I were you, I'd stay put and save every penny you can for about a year. It would be best if you can have 20% to put down for a mortgage to buy a house, which means you'd have to have at least $104K for the downpayment on the condo you're looking at. No, that particular condo may not be available by the time you have the money for the down payment, but you have to have faith that ';the perfect place'; will be there when you're ready. My husband and I are planning on moving back up north when he finishes his masters degree. When I get particularly fed up with this God forsaken Hell hole, I get on realtor.com and start looking at houses in the town where we want to live. Everytime I look, I find a house that's ';just perfect';. I've looked enough to know that even though that particular house will sell before the next time I look, there will be another ';perfect place'; available when we're ready to move. If there isn't, we'll just rent for a while until ';the perfect place'; goes on the market.What would you do help i need your advice?
Go for it. If you can still afford other things and it's not going to leave you broke after you pay other expenses. You only live once.Good Luck!
i woldnt by it or lease it but to each its own .... i wold invest in a house
  • dermatologist
  • No comments:

    Post a Comment