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Old 05-02-2018, 08:21 PM
 
Location: USA
253 posts, read 119,789 times
Reputation: 85

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Buying home delima?
=================

I am asking this for Maryland living.


I stayed in apartment for awhile. My lease renewal is coming up and I am thinking of buying a home. I am not sure, how my plan will turn out based on raising interest, lack of homes to see, & looming recession.


How do I handle this situation ?




Thanks for sharing.
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Old 05-02-2018, 08:30 PM
 
1,511 posts, read 563,734 times
Reputation: 2944
Quote:
Originally Posted by GNCamry99 View Post
Buying home delima?
=================

I am asking this for Maryland living.


I stayed in apartment for awhile. My lease renewal is coming up and I am thinking of buying a home. I am not sure, how my plan will turn out based on raising interest, lack of homes to see, & looming recession.


How do I handle this situation ?




Thanks for sharing.
It doesnít seem that you have much of a plan. Iíd renew the lease for another year.
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Old 05-02-2018, 09:50 PM
 
16,482 posts, read 17,501,756 times
Reputation: 23521
Quote:
Originally Posted by GNCamry99 View Post
Buying home delima?
=================

I am asking this for Maryland living.


I stayed in apartment for awhile. My lease renewal is coming up and I am thinking of buying a home. I am not sure, how my plan will turn out based on raising interest, lack of homes to see, & looming recession.


How do I handle this situation ?




Thanks for sharing.
How ready are you to buy a home?
Do you have your loan lined up?
Downpayment. credit score good?
Agent lined up?
Searching the listings?
Do you know your wants needs and desires in a house?
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Old 05-04-2018, 11:59 AM
 
Location: Raleigh NC
7,754 posts, read 6,110,007 times
Reputation: 6877
how long do you believe you'll be in your same or better job in that location?

after that, everything E4You said.

and, expect it to take 30-60 days from the day you put a house under contract to close. look at your lease again to see how much notice you have to give.
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Old 05-05-2018, 02:38 PM
 
Location: USA
253 posts, read 119,789 times
Reputation: 85
Thanks for your replies /questions.

How ready are you to buy a home? Yes
Do you have your loan lined up? I have pre-approved letter, but I need to pull the loan upon right property line up.
Downpayment. credit score good? Yes
Agent lined up? Yes
Searching the listings? I am searching for a while, but not able to hit desired spec.

Do you know your wants needs and desires in a house? Yes, I find hard to fit my desires to listing. Eg. I am looking for Gas cooking. The property fit my spec has all electric . How difficult to get Gas hook, up, when it says all electric?

how long do you believe you'll be in your same or better job in that location? It is a hard questions. It all depend on how our economy going to respond/react.

Thanks for guidance.
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Old 05-05-2018, 04:41 PM
 
Location: Mostly in my head
19,631 posts, read 53,468,042 times
Reputation: 18538
Depends on if gas is available on your desired street. If no, prohibitive cost to bring it. Could be $150K or more, if company agrees to do it. Could be $800 or so if on street and just need to connect to your house. More if stove can't be on outside wall. Have to dug up yard to get gas line/mater to your house. Then a plumber to run a line to the stove. Call the gas company and see if gas is already on the street.
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Old 05-05-2018, 05:31 PM
 
10,265 posts, read 6,491,094 times
Reputation: 10837
Quote:
Originally Posted by GNCamry99 View Post
Buying home delima?
=================

I am asking this for Maryland living.


I stayed in apartment for awhile. My lease renewal is coming up and I am thinking of buying a home. I am not sure, how my plan will turn out based on raising interest, lack of homes to see, & looming recession.


How do I handle this situation ?




Thanks for sharing.
Usually a mortgage takes 45 days to go thru if there are no problems, if you have less than that you will have to sign a new lease or give notice to move and find a temporary month to month place.
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Old 05-05-2018, 06:07 PM
 
3,027 posts, read 1,206,807 times
Reputation: 5982
Quote:
Originally Posted by SouthernBelleInUtah View Post
Depends on if gas is available on your desired street. If no, prohibitive cost to bring it. Could be $150K or more, if company agrees to do it. Could be $800 or so if on street and just need to connect to your house. More if stove can't be on outside wall. Have to dug up yard to get gas line/mater to your house. Then a plumber to run a line to the stove. Call the gas company and see if gas is already on the street.
Yeah, even what seems like a fairly short distance can be ridiculous. I think someone in my parentsí neighborhood wanted it in there and the estimate was $10K although it was out at the street that went into the neighborhood, just not physically IN the neighborhood. The OP should just call to see if there is already gas on the street. If there is, then it would likely be a few thousand at worst. If you are in some huge planned community with no gas, forget it... better off just looking for a house that already has it.

The OP should probably keep in mind that in many areas, this is the time people really start to put their houses on the market, so there may be more inventory. If thatís the case, he might be better off with a short-term or month-to-month lease instead of a yearlong lease.
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Old 05-05-2018, 06:11 PM
 
10,265 posts, read 6,491,094 times
Reputation: 10837
Quote:
Originally Posted by GNCamry99 View Post
Thanks for your replies /questions.

How ready are you to buy a home? Yes
Do you have your loan lined up? I have pre-approved letter, but I need to pull the loan upon right property line up.
Downpayment. credit score good? Yes
Agent lined up? Yes
Searching the listings? I am searching for a while, but not able to hit desired spec.

Do you know your wants needs and desires in a house? Yes, I find hard to fit my desires to listing. Eg. I am looking for Gas cooking. The property fit my spec has all electric . How difficult to get Gas hook, up, when it says all electric?

how long do you believe you'll be in your same or better job in that location? It is a hard questions. It all depend on how our economy going to respond/react.

Thanks for guidance.
You should be more worried about heating the house than cooking. Gas heat is the cheapest, I wouldn't care about the cooking part. I live in a warm area and I'm glad we don't have gas lines here. No carbon monoxide poisoning or gas explosions.
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Old 05-05-2018, 06:59 PM
 
Location: Log "cabin" west of Bangor
5,487 posts, read 6,424,991 times
Reputation: 9378
Quote:
Originally Posted by SouthernBelleInUtah View Post
Depends on if gas is available on your desired street. If no, prohibitive cost to bring it. Could be $150K or more, if company agrees to do it. Could be $800 or so if on street and just need to connect to your house. More if stove can't be on outside wall. Have to dug up yard to get gas line/mater to your house. Then a plumber to run a line to the stove. Call the gas company and see if gas is already on the street.
Don't need nat gas, can use propane instead.
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