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But is upgrading later viable? I know you say I will probably forget my dreams, and thats probably good advice, and might be true, but at leas the knowledge upgrading is realistic would put my mind somewhat at ease.
Absolutely, plan for upgrades -- but do it purposefully, with a careful eye towards not overimproving for the neighborhood. If a kitchen is the 1970's finest, think about a new kitchen, or how to open the house up a bit to create an open area. Consider new flooring. Consider updating bathrooms. Consider adding a screened porch or nice patio area, or creating a mud room/laundry room. Prioritize your upgrades, and just go down your list, project by project. (Another reason to conserve cash, where possible.) Your best bet is to invest some time to find a good, knowledgeable and up-and-coming contractor with a reputation for skill and fairness. That might take a while. And that's ok.
Never forget your dream house . . . just recognize that it's probably not the house you're going to get THIS time. It might be the next one. Or your dreams will shift. At this point, you are looking to make a good investment in a house that will support the upgrades you want to make, and may later turn into an equity source or even an upgraded rental property for rental income.
Just buy a 2 or 3BR Ranch or Cape with a garage and a basement and a small but usable site. Consider it training wheels. Even what you might now consider junk in the grand scheme of things will give you most of the fun of a big house and the exact same opportunities to learn all the ropes of homeownership. Without the risk. Why wait?
The temptation is real.
I guess I know what you mean. The place I live now is comparable to what I could afford, and while not a dream house, I don't come back to it every day grumbling angrily. I think I just need to find happy medium between my dream and affordability, and work on it from there.
Just buy a 2 or 3BR Ranch or Cape with a garage and a basement and a small but usable site. Consider it training wheels. Even what you might now consider junk in the grand scheme of things will give you most of the fun of a big house and the exact same opportunities to learn all the ropes of homeownership. Without the risk. Why wait?
Spoken like a true real estate.
There is a ton of risk in the market right now, especially with the 3br ranchers you're talking about.
This is not a good time to buy unless you absolutely have to. Inventory is low and prices are high, this is a huge red flag for high risk.
Getting advice on home buying from a real estate agent is like getting car buying advice from a used car salesman.
They're always going to tell you to buy, especially when it is expensive.
If I were in your position, I think I would look into buying a rental property and living in it for a few years before making it a rental. This means looking for a property that would do well as a rental, good rental area, etc. It will fit in your budget better while you figure out what your dream home might be. If you have no interest in being a landlord, scratch this idea. If you do, this is a good way to enter the market.
As far as a home office deduction, look into the simplified home office deduction. Much easier, and you don't have to reclaim the depreciation when you sell. More info here
There is a ton of risk in the market right now, especially with the 3br ranchers you're talking about.
This is not a good time to buy unless you absolutely have to. Inventory is low and prices are high, this is a huge red flag for high risk.
Getting advice on home buying from a real estate agent is like getting car buying advice from a used car salesman.
They're always going to tell you to buy, especially when it is expensive.
Total unmitigated amateur BS. I have told many people on this forum NOT TO BUY. This individual wants the experience of homeownership, and has the qualities and the finances and the personality to make it work. And homeownership is a FLAT OUT AMAZINGLY GOOD WAY TO LIVE. And since that is what he wants, and since he has put himself in a position to afford it, he should go for it. You do not buy a personal residence for appreciation, you buy it because it is the highest form of successful living known to man and you want the experience, the quality, the privacy, the convenience, the creative outlet, the tax break, and the just plain fun!
Now go back to the kitchen, your waiter needs mashed potatoes delivered to table 3.
Total unmitigated amateur BS. I have told many people on this forum NOT TO BUY. This individual wants the experience of homeownership, and has the qualities and the finances and the personality to make it work. And homeownership is a FLAT OUT AMAZINGLY GOOD WAY TO LIVE. And since that is what he wants, and since he has put himself in a position to afford it, he should go for it. You do not buy a personal residence for appreciation, you buy it because it is the highest form of successful living known to man and you want the experience, the quality, the privacy, the convenience, the creative outlet, the tax break, and the just plain fun!
Now go back to the kitchen, your waiter needs mashed potatoes delivered to table 3.
I'm an entrepreneur in the Bay Area there bud, and actually produce things unlike most of the slime that works in the real estate resale industry.
Thanks for posting even more salesman rhetoric. You have proven my point even further.
Again, never listen to a real estate agent when it comes to buying houses. They are the worse than used car salesman.
It's dead. Let it rest. It wasn't funny to begin with.
And how can a real estate agent who has sold one house in the past year be able to afford to eat at a restaurant? I guess it's all that money you saved by not going to college.
Run along now, your boss Joe needs you to go sell more houses than your current "one a year" trend.
It's dead. Let it rest. It wasn't funny to begin with.
And how can a real estate agent who has sold one house in the past year be able to afford to eat at a restaurant? I guess it's all that money you saved by not going to college.
Run along now, your boss Joe needs you to go sell more houses than your current "one a year" trend.
It was funny enough to make you do some research!
I did some too. You said this elsewhere:
Quote:
And now you're contradicting yourself again.
Appraisers set the value of homes. Stupid buyers have nothing to do with it.
If you can post this, you must never, ever, post anything about real estate again on any forum in North America. As a state certified appraiser in New York and New Jersey, I knew I was very powerful, but I never knew I had this kind of power. Very, very cool. I am going to begin exerting it on Tuesday. Watch out NYC metro buyers. I SET THE VALUE OF HOMES. The "Entrepreneur" said so. (BTW, I will bet a thousand bucks that the "Entrepreneur" couldn't spell entrepreneur and spell checked it.) Guraneffingteed!
Last edited by Marc Paolella; 05-29-2016 at 12:34 AM..
let us all remember those who fought for our freedom to hurl insults across the internet.
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