Moving to Orlando can I afford a home? (Conway, Winter Garden: mortgage, credit)

[bahamama]

Hello,

I work for a timeshare company and our corporate offices are in Orlando. I am a mother of three 15-10-7 and I would like to find a safe affordable neighborhood preferrably around the 32819 zip code. I have read many post and I dont want to keep asking the same questions that yo all seem to be answering over and over again but here goes. My salary 45K-approx. I am looking to eventually purchase a 3/2 home. Can you tell me what safe areas fall within my affordability range?

Thank you in advance.

[miss_t]

What is your price range for such a house? How much do you have for a down payment and monthly? Can you do, say, a $175,000 house in a safe neighborhood within a good school district? I know of a 3/2.5 house in the 32812 area.

[bahamama]

approx 10K
Did not want monthly payments to be above 1400.

[miss_t]

I take it your timeshare job is near Sandlake/ John Young, right? The 32819 area is a bit shady. If the commute is an issue, consider a better area somewhere near the 528 (BeeLine). Your prices steer toward the part of town I suggested before, 32812, near the Conway/ Michigan section. If this is not to your liking and you can afford a little more and a little distance, I might also suggest the Waterford Lakes area, the edge of 32828. Oh, granted I haven't seen this side of town in a while, but the Hunter's Creek (32837) area might be worth a look too.

[JC1972]

What kind of debt do you have and what are your credit scores?

[SANDYHAIR]

Would You Think About A New Townhome In Winter Garden Very Good Area

[blueoktober]

Don't forget to factor in very high property taxes and insurance! I add $700 a month to my mortgage just for those two items alone.

[bahamama]

Originally Posted by blueoktober

Don't forget to factor in very high property taxes and insurance! I add $700 a month to my mortgage just for those two items alone.

If I may ask what is the amount that you are paying $700 a month on is it a purchase price less that 200K?

[bahamama]

Originally Posted by miss_t

I take it your timeshare job is near Sandlake/ John Young, right? The 32819 area is a bit shady. If the commute is an issue, consider a better area somewhere near the 528 (BeeLine). Your prices steer toward the part of town I suggested before, 32812, near the Conway/ Michigan section. If this is not to your liking and you can afford a little more and a little distance, I might also suggest the Waterford Lakes area, the edge of 32828. Oh, granted I haven't seen this side of town in a while, but the Hunter's Creek (32837) area might be worth a look too.

Thank you Miss_T I will check into these areas.


1972

Car Loan
7K student Loan in deferement

Sandy Hair

I may be interested in a townhome

[corneliusm]

Originally Posted by bahamama

Thank you Miss_T I will check into these areas.


1972

Car Loan
7K student Loan in deferement

Sandy Hair

I may be interested in a townhome

If I were you, I'd avoid townhomes for now. They're still inflated (worse than single family homes), and the assn fees are comparable to daterape.

You can get a decent 2/2 or 3/2 home for your asking price. I'd suggest Waterford Lakes (there are some pretty good deals there), and 408 is a pleasant commute. Don't be discouraged by the listing prices- they're still inflated IMO... it's likely you'll come across some preforclosures where the seller is desperate enough to settle for much, much less. A friend of mine is closing on a home in that area, and he's paying ~40k under the asking price on a 250k 4BR home.

I personally believe that the housing market has another 6 months to go before it hits bottom, but you can still find some great deals right now.

Disclaimer- I am not real estate agent, but I am passing on the advice that I have been given. I'm currently househunting as well.