Current market real cost of buying home in Dallas

[FrustratedVuncle]

Interest rate - 7%

Property tax - 2.5%

Home insurance - 0.5% approx 

Meaning yearly 10% of home price every year from pocket until 30years.

Average home appreciation per year is 3.5%. Some areas appriciate better.

So 6.5% of the home price every year extra for 30yrs will add up to almost 2 times the price tag. 

So it's a depreciating property anamata. Forget about repairs and maintenance costs in between.

[Android_Halwa]

Atla anaku anna….home is where memories are made, home is everything and an asset ani sardichepukuni feeling good annai…

Itla depreciating ani nijalu matladithe vunna nidra kuda potadi

[Variety_Pullayya]

52 minutes ago, FrustratedVuncle said:

Interest rate - 7%

Property tax - 2.5%

Home insurance - 0.5% approx 

Meaning yearly 10% of home price every year from pocket until 30years.

Average home appreciation per year is 3.5%. Some areas appropriate better.

So 6.5% of the home price every year extra for 30yrs will add up to almost 2 times the price tag. 

So it's a depreciating property anamata. Forget about repairs and maintenance costs in between.

2018 to 2020 lo house prices double ainay....

refinance rates fell down to ~2% twice in the last 15-20 years...

who knows what future holds ....chill and njoy home ownership if you can afford

 

 

[ManOffSteel]

3 hours ago, Variety_Pullayya said:

2018 to 2020 lo house prices double ainay....

refinance rates fell down to ~2% twice in the last 15-20 years...

who knows what future holds ....chill and njoy home ownership if you can afford

 

 

Home prices are at their peak now. malli prices paiki povali ante you have to wait at least 10 years..

Only positive I expect interest rates to drop to somewhere between 4 to 5% by 2025 end. Fed will cut rates at least another 6 to 7 times in December and 2025. 

[CanadianMalodu]

5 hours ago, Android_Halwa said:

Atla anaku anna….home is where memories are made, home is everything and an asset ani sardichepukuni feeling good annai…

Itla depreciating ani nijalu matladithe vunna nidra kuda potadi

That's the truth. Texas and Florida states are big "parra". Nothing more. In the East Coast, and Canada the gate keepers in the govt.and lobby groups make sure less houses are build to increase the value of existing properties due to the land they are on unlike these states where they keep building on. It's always the land that appreciates not the construction. 

[CanadianMalodu]

5 hours ago, Android_Halwa said:

Atla anaku anna….home is where memories are made, home is everything and an asset ani sardichepukuni feeling good annai…

Itla depreciating ani nijalu matladithe vunna nidra kuda potadi

It's a illusion that one buys. Memories are what you make of them. 

[sureshkonda]

 

 

[Abhagyudu]

15 minutes ago, sureshkonda said:

 

 

Eedu 2020 lo kuda elane cheppadu..He is a doomer and fear monger .veedini follow ayyi maa batch antha missed home at that time

[Aquaman]

home purchase has become something like car purchase  now a days....

OPT students kuda konesthunnaru.... peer pressure & prestige issues tho antunna @Sonu_Patel  

[jefferson1]

1 hour ago, Aquaman said:

home purchase has become something like car purchase  now a days....

OPT students kuda konesthunnaru.... peer pressure & prestige issues antunna @Sonu_Patel  

Opt ante daring anali bro 

[Aquaman]

19 minutes ago, jefferson1 said:

Opt ante daring anali bro 

young blood annaa... avesham lo konesthunaru

plus emadya pelli requirement  lo 6 figure salary tho pattu.. abayi ki sothu illu undha omerica lo ani aduguthunnaru

[Gaali_Gottam_Govinda]

1 hour ago, Aquaman said:

young blood annaa... avesham lo konesthunaru

plus emadya pelli requirement  lo 6 figure salary tho pattu.. abayi ki sothu illu undha omerica lo ani aduguthunnaru

six figure requirement 2008-2010 time nunde undi..... but appudu job undi H1 unte chaalu ane requirement undedi.... Iddaru Settle ayyinaka House konukondi babu anetollu.

 

Forward 15 years..... Ippudu Min $150K-$200K range full time and Min 3500 Sqft east facing home and 1 tesla car with Level 2 EV charger installed at home so that our daughter won't have to go outside to charge ani requirements pedtunnaru anna

[Aquaman]

10 minutes ago, Gaali_Gottam_Govinda said:

six figure 2008-2010 time nunche undi..... but appudu job undi H1 unte chaalu ane requirement undedi.... Iddaru Settle ayyinaka House konukondi babu anetollu.

 

Forward 15 years..... Ippudu Min $150K-$200K range full time and Min 3500 Sqft east facing home and 1 tesla car with Level 2 EV charger installed inside so that our daughter won't have to go outside to charge ani requirements pedtunnaru anna

[ManchamKodi]

12 hours ago, FrustratedVuncle said:

Interest rate - 7%

Property tax - 2.5%

Home insurance - 0.5% approx 

Meaning yearly 10% of home price every year from pocket until 30years.

Average home appreciation per year is 3.5%. Some areas appriciate better.

So 6.5% of the home price every year extra for 30yrs will add up to almost 2 times the price tag. 

So it's a depreciating property anamata. Forget about repairs and maintenance costs in between.

house konnala @Sonu_Patel asking

[FrustratedVuncle]

13 hours ago, Android_Halwa said:

Atla anaku anna….home is where memories are made, home is everything and an asset ani sardichepukuni feeling good annai…

Itla depreciating ani nijalu matladithe vunna nidra kuda potadi

On a flip side, if your rent is 2000/mo. On avg 3% increase in rent every year. You will end up paying $1,157,428.50 over 30years. That would give you stress free home for 30yrs.