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Old 01-27-2008, 11:13 AM
 
Location: Hollywood, FL
90 posts, read 327,538 times
Reputation: 38

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Home purchase question.
In viewing Realtor.com, there are many homes in my price range for $110k-$125k. However I am not sure what kind of neighborhoods these would be in. I come from an average middleclass working family and between my husband and myself only make about $37k a year. I am not interested in those newer prefab homes. We like a mature home with a good roof, and not to much to renovate. Neither my husband nor myself are handy like that.
We are in our forties with no children so school districts are not a consideration. I read a post that said condos downtown go for about $350k and I was shocked!
tcar509
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Old 01-27-2008, 11:20 AM
 
Location: Greenville, SC
10,000 posts, read 19,816,862 times
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^^Only $350k? I thought they would be more. Everybody wants to live downtown, so it causes the price of condos to go through the roof. I would say somewhere between $150k-$200k for a home that matches your description.
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Old 01-27-2008, 11:26 AM
 
Location: Hollywood, FL
90 posts, read 327,538 times
Reputation: 38
Default Thank You

Thank you G-man for the input. I think $150k would be over my budget.
I must take into consideration taxes, insurance and also pmi if I dont have the 20%. But the apartment rentals are so cheap there that I could save quickly for a home purchase. We are outpriced to buy in our current location of Hollywood Fl. Condos on the beach go for 600k and up. Homes inkland about 350k and up. Taxes and insurance are the same or more as your mortgage so its like paying a double mortgage. We pay $850.00 to rent a tiny, shabby 1-bd, 1-bath and dont even have a yard or a pool.
With kind regards,
tcar509
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Old 01-27-2008, 12:06 PM
 
548 posts, read 1,763,508 times
Reputation: 186
Quote:
Originally Posted by tcar509 View Post
Thank you G-man for the input. I think $150k would be over my budget.
I must take into consideration taxes, insurance and also pmi if I dont have the 20%. But the apartment rentals are so cheap there that I could save quickly for a home purchase. We are outpriced to buy in our current location of Hollywood Fl. Condos on the beach go for 600k and up. Homes inkland about 350k and up. Taxes and insurance are the same or more as your mortgage so its like paying a double mortgage. We pay $850.00 to rent a tiny, shabby 1-bd, 1-bath and dont even have a yard or a pool.
With kind regards,
tcar509
Taxes are most definitely lower here. On a house of that price in my area it would probably be under $800/year. My insurance is under $1000/year on a $235,000 house. You probably could find a home in Canebrake and Del Norte for under $150,000. There is one home showing in Del Norte for $135,000 here Del Norte : Neighborhood Profile : Greenville, South Carolina (SC). I'm sure it isn't the only home there for sale. This past tax bill on the house (if this is the same one) I showed that they paid $346. Session Has Expired

I also show the house is valued at $107,000 but note that this might be under valued as we have a cap on how much the value of the house can increase. When sold it's reassessed so tax amount would change based on sales price.
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Old 01-27-2008, 02:10 PM
 
128 posts, read 559,667 times
Reputation: 41
i just bought a place and you could DEFINITELY get a place in your price range.

also, for a mortgage, i was AMAZED at the deal i got through bb&t with this program called chip. If you make under 52K/year, you don't need a downpayment and they pay your PMI for you.

Let me know if you need more info.
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Old 01-27-2008, 08:33 PM
 
3 posts, read 12,517 times
Reputation: 20
Default CHIP Program?

Quote:
Originally Posted by jpoole52 View Post
i just bought a place and you could DEFINITELY get a place in your price range.

also, for a mortgage, i was AMAZED at the deal i got through bb&t with this program called chip. If you make under 52K/year, you don't need a downpayment and they pay your PMI for you.

Let me know if you need more info.
Jpoole, Is there a county/city residency requirement to utilize the CHIP P? Plz send program link, an any other info that would be helpful.

Planning to relocate to the area.

Tks,
asy2gsp

*sending via email is fine

Last edited by asy2gsp; 01-27-2008 at 08:34 PM.. Reason: spelling error
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Old 01-28-2008, 05:28 AM
 
128 posts, read 559,667 times
Reputation: 41
I heard about the CHIP program through a friend who used to actually do these mortgages through BBT, so he referred us to his old boss through BB&T and they have done a WONDERFUL job helping us get a mortgage, along with several other things.

Here is summary of the loan. BB&T - Community Homeownership Incentive Loans - CHIP Mortgages (http://www.bbt.com/bbt/personal/products/chip/default.html - broken link)

To find out more, I'd contact a mortgage branch of BB&T or if you PM me, I'll give you the number of the woman I worked with at the downtown Greenville office.
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Old 01-28-2008, 10:04 AM
 
Location: Hollywood, FL
90 posts, read 327,538 times
Reputation: 38
Default Thank You

Thank you for the BB&T info, you are the second person to let me know about the CHIP program so I will put it on the top of my realty list. It is comforting to know that there are kind and helpful people out there in the world as relocating can be a scary but wonderful thing.
tcar509
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Old 01-31-2008, 12:10 PM
 
Location: Hollywood, FL
90 posts, read 327,538 times
Reputation: 38
Default Difference between $87k and $150k

Thank you for the information, however we would like to rent for 6-mos to a year to discover where we would like to purchase first. In looking at Realtor.com I do not see much of a difference between $87k and $150k.
The interiors have not been upgraded in many homes between $120k and $150k, and for under $120k I could put in a new kitchen for about 10k. I am very very fussy, I love wood floors however cannot stand wood parquay floors and like light or white cabinets as opposed to dark heavy woods. We would like a fenced in yard so we can finally get a dog (my husbands dream). Wood paneling inside the home does very little for me. And it needs to be clean, clean, clean! A good roof and that is about everything on my wish list.
tcar509
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Old 01-31-2008, 12:37 PM
 
Location: Greer SC
63 posts, read 186,243 times
Reputation: 27
im sorry if wer'e misunderstanding eachother, but im talking about new homes.. gl with your search
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